A business money market account is a type of savings account that allows businesses to earn interest on their deposits.
The account typically has a higher interest rate than a traditional savings account and may require a higher minimum balance to open and maintain the account.
The account also allows businesses to make withdrawals and deposits, but there may be a limit on the number of transactions allowed each month.
When a business opens a money market account, it will typically deposit a certain amount of money into the account.
The money will then earn interest, which is paid out to the account on a regular basis.
The interest rate on a business money market account is usually tiered, meaning that the rate of interest earned will increase as the balance in the account grows
The funds in a business money market account are also usually easily accessible.
Businesses can typically make withdrawals and deposits at any time, although there may be limits on the number of transactions allowed each month.