Money Market Accounts - Are savings accounts that earn interest, are liquid and have limited check-writing capabilities. These accounts typically require a minimum deposit to open and that you maintain a certain balance in the account.
Money Market Fund - A fund that invests only in highly liquid and safe short-term money markets like Treasury bills, certificates of deposit and commercial paper. The fund's goal is to preserve the investors' principal with some small dividends. Each share is kept at $1 for easy accounting, but the interest rate changes. A money market fund investment is not insured or guaranteed by the FDIC or NCUA, and it is possible to lose money by investing in a money market fund. Most funds are not federally insured but some are covered by private insurance
