Money market mutual funds have been a popular place to park idle cash because they offer higher yields than bankers pay on equally liquid savings accounts.
The funds' unblemished safety-of-principal record comes from investing in short-term, high-quality assets.
But even with check-writing options, various restrictions make money funds impractical to use as a replacement for the banker's everyday checking account.
That has changed at two fund companies. They allow unlimited check-writing on their money funds. An initial deposit of $1,000 is required.