| money-market deposit account = MMDA A high-yielding savings account introduced in the USA in 1982 to allow deposit-taking institutions to compete for savers' funds with the money markets. As long as the account has a balance of more than $1000 there is no regulatory limit on the account. Balances below $1000 attract a lower rate of interest. Restrictions on the account apply to withdrawals (three a month) and transfers for bill payment (three a month). |