Money Market Deposit Accounts

Definition of Money Market Deposit Accounts (MMDA) 

In relation to social issues, a meaning of money market deposit accounts (mmda)  is provided here: An MMDA is an interest-bearing account that allows you to write checks. It usually pays a higher rate of interest than a checking or savings account. MMDAs often require a higher minimum balance, and you are limited to only three checks per month. Most institutions impose fees on MMDAs.