Money market accounts enable an account holder to recieve a better interest rate than they typically would on a savings account while also allowing them check writing abilities as with checking account (albeit limited). Hence the benefits of this account type combine both those of the checking and savings account. The account usually requires a higher balance compared to it's counterparts due to it's added advantages. The account can be opened like any other account. It would be wise though, to do some comparisons in order to determine which bank better meets your requirements for the account.