Historically, money market mutual funds would pay a slightly higher interest rate than competing bank products such as savings accounts and money market accounts.  Money market mutual fund rates, however have not always been the market leader in short term rates.  With the ability to write checks and transfer funds without charge, many money market mutual funds may allow account holders to obtain a competitive yield and bank without using a bank.  Be sure to compare a variety of products from both the financial institutions that offer money market mutual funds and banks that provide savings accounts, money market accounts and certificates of deposit.  Compare rates, fees and convenience to asses which products serve your needs better.  Opening and holding more than one type of account may be the most beneficial solution to maximize returns, reduce fees and transact daily business.

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