Advantages
 The biggest advantage to having a money market account is that it yields more amount of money over time due to the higher interest rate. There would be no reason to open a money market account if the interest rate earned was not higher than that of the average savings account.

 With bank accounts, the money in a money market account is insured by the Federal Deposit Insurance Corporation (FDIC), which means that even if the bank or credit union goes out of business (which is very rare) your money will still be safe and obtainable. (F.Y.I.: when thousands of banks failed in the 1920s and early 1930s, an independent agency of the federal government created the FDIC in 1933. Since that time not a single person has lost money in a bank or credit union that was insured by the FDIC.)

 If your account is with a credit union, the money in a money market account is insured by the National Credit Union Administration (NCUA), which is also a federal agency.
 Interest on money market accounts is usually compounded daily and paid monthly. Having compounded interest means that the bank continues to pay you interest not only on the money that you have deposited into the money market account, but also on the interest money that you receive. In other words the bank is paying you interest on the money they have paid you in interest.
 Money markets offer many of the same benefits as certificates of deposit. However, with a money market you have the added features of a checking account. A money market account is similar to a mutual fund in that, a money market can be loosely defined as a mutual fund that attempts to keep its share price constant at $1.00.

 Most financial institutions will be able to open a money market account in your name.

 With a money market account you will most likely also receive a checkbook with which you can draw upon funds in the account.

 Depositing money in a money market is as easy as depositing cash into a savings or checking account. Cash is also immediately available for alternative investments.

Disadvantages
 Money market accounts have higher minimum balance requirements (sometimes $1000-$2500), and only allow three to six withdrawals per month.

 Banks will usually charge a fee (typically around $5) if you don't maintain a certain balance in your money market account. There may also be a fee (typically around $5-10) for every withdrawal in excess of the maximum (usually six) the bank allows each month.

 Keep in mind that different banks offer different interest rates and will charge different fees for certain transactions. You need to make sure to stay informed and to not get yourself involved in an account that you do not fully understand.

 Money markets are disproportionately beneficial to wealthier investors because the rate of interest is directly proportional to the amount that the individual has deposited into the account. Rates of maturity are not measurements of increased interest in a money market account as it is with other investment accounts.

You decide...
It is up to you to weight the advantages and disadvantages of using a money market account as a bank account. If you choose to open a market account, regardless of how you intend to use it, there are a few things to keep in mind. Interest rates paid by money market accounts can vary dramatically from bank to bank. Also keep in mind that the more money you have in the money market account the higher the interest rate you get. Always check with the bank about how the interest rate may change and what kind of commitments you will be required to make.