Hi everyone,

Recently I've been doing a bit of research on Money Market Accounts, that is accounts which resemble a term deposit account, where you select the term and rate you are after and the money is invested in short term securities of banks, companies, govt, etc.

Almost all the banks offer these facilities for business/commercial deposits $50-100k. But a few seem to offer for retail also, although I haven't tested them out I'm very interested.

Community First Credit Union
Seems to be a $5000 minimum deposit (although no minimum balance once opened). I am not sure if you can select the term or which securities you wish to invest in, or if your return is simply whatever the Credit Union has decided to invest in.

Also there is Macquarie Money Market Service
Seems the minimum investment is only $1000?
You can choose the term, as low as 24h.

I was surprised there are no posts about money market accounts on ASF. Obviously 2008 showed these are riskier places to put your money than in a savings account but the yield compensates for that risk and could form a valuable part of an investing portfolio.

Curious to hear comments from others on the topic, especially in regard to retail-facing options.