What is the difference between a Money Market Account and a Certificate?

Both Certificates and Money Market Accounts are federally insured, interest-earning deposit accounts. Certificates typically offer a higher yield in exchange for a fixed term. You may pay a penalty for withdrawing funds before the end of the term.

Money Market Accounts function like a high-yield savings account and allow a limited number of transactions per month without penalty, plus the ability to write checks from the account.