A money market account typically has a higher interest rate, depending on the market conditions, and not optimized for formalized accounts payables or receivables. There is also a minimum balance on Money Market accounts of $2,500.

No. Unlike a CD product, money market accounts do not have a set term.

A business money market account is a type of savings account specifically designed for businesses. It typically offers higher interest rates than a regular business savings account. Unlike a traditional savings account, a business money market account often allows limited check-writing capabilities, providing businesses with more flexibility in managing their funds while earning competitive interest.

A business money market account plays a crucial role in cash management for several reasons.  Money markets allow for earning interest on idle cash while also maintaining easy access to the funds.