Inside the context of private finance or banking, a "money account" generally refers to a primary examining or personal savings account in which you deposit and withdraw resources in the shape of Actual physical forex (cash) or electronic transfers. This type of account is used for working day-to-working day transactions, such as paying out costs, earning buys, or Day-Trading Risk Disclosure Statement preserving dollars.
During the context of investing, as mentioned before, a "hard cash account" refers to a brokerage account exactly where transactions are settled on a income basis, meaning you'll be able to only trade While using the dollars you may have deposited in to the account. This distinguishes it from the margin account, where you can borrow resources within the broker to help make trades.