Understanding the money market account pros and cons can help you make a smarter, more confident investment decision. We'll break it down for you here.

But it's not nearly as low as what it was in March 2020, either. Savers will just need to understand these pros and cons and apply them strategically to their CD account approach.

Still, money market account rates are competitive, so it's smart to shop around online for both account types to see which one is truly able to offer you the greatest return. Shop for CDs online now.

Money market account: MMAs generally offer higher interest rates than checking accounts, with rates ranging from 0.5% to over 3%, depending on your provider and account balance.

You can still get returns with the right checking account. Some top high-yield checking accounts offer annual percentage ...

We might earn a commission from links in this content. Learn more 10 financial planners and money pros on how they’d invest $10K right now Gold, bitcoin, ETFs, Treasurys or something else?

If you don't need paper check-writing, choose whichever account type—money market or savings—pays the better rate. The top money market account rate is currently 4.75% APY.