Money market accounts are a good choice if you have a lump sum of money, want to earn a higher rate of interest than with a regular savings account, and still want easy access to your funds.
In most cases, you will earn a higher rate of interest on a money market account than with a regular savings account. Money market accounts often have slightly more restrictive transaction limits, meaning you can only access your money a certain number of times per month, while regular savings accounts have less restrictive transaction limits.
The minimum opening deposit for a BBVA Compass ClearChoice Money Market Account is $25.
There is technically no minimum balance requirement to keep your account open.