"What is a money marketplace fund account"?
Answers:
Its an investment account at you can draw from similar to a checking sketch...
Good entity we hold spammers here.
Anyways, straight from the SEC itself: http://www.sec.gov/answers/mfmmkt.htm...
A money souk fund is a drastically conservative investment which invests in short possession securities. It pays interest resembling a funds picture, but usually a bit sophisticated. Money bazaar funds are usually not covered by Federal insurance. But in the entire history of money marketplace funds, not one have ever lost a penny, not even during the Depression. It is a flawless place to hold money that you will obligation within the short possession but is a lousy long-term investment.
normally it a fund that a broker uses to agree to and individual park money in while the investor is thinking of what to do beside unearned money that he have received from his investments -- you can also use it as a checking/saving vindication -- but remember not adjectives money open market funds are FDIC insured!