Continuation

keep a certain amount of money—a minimum balance—in the account. But these accounts


are limited to non-business customers. Banking laws almost always require businesses to use

regular checking accounts that do not pay interest.

Money market deposit accounts are similar to checking accounts that earn interest, except

that they usually pay a higher rate of interest and require a higher minimum balance (often

$2,500 or more). They also limit the number of checks you can write per month.

Finally, banks do not always call their accounts by the same names. Often, they choose distinctive

names in hopes of attracting customers. But there can be a real difference between one

bank’s accounts and another’s, so shop around.