Comment by DebtDeflation

Money Market Deposit Accounts are insured by the FDIC and have the same $250K insurance limit as savings accounts. To the extent that money market accounts may pay a slightly higher interest rate than savings accounts, it's because they typically require a higher initial deposit and a higher minimum balance. Moving funds from a savings account to a money market account because you're worried about deposit insurance makes no sense. Now, if they're talking about Money Market Mutual Funds as opposed to Money Market Deposit Accounts, those are NOT FDIC insured and typically have more restrictions on how quickly and how frequently you can withdraw money, and in exchange pay a slightly higher interest rate still.