UNSPSC 64101602: Money market account

An interest-bearing account that typically pays a higher interest rate than a savings account, and which provides the account holder with limited check-writing ability.

UNSPSC 64101602 Money market account is a Commodity code that does not reflect the actual activity state and local governments are buying under this classification. The recent opportunities tagged to this code span financial examination services, investment advisory services, financial consulting, debt collection, loan administration, auditing, 1099 processing, and related financial services work — none of which constitutes money market account products or services in the conventional sense. The code appears to be a catch-all for state and local finance management and consulting activity that does not fit cleanly into narrower classifications, and the recent posting volume suggests ongoing, fragmented demand across multiple issuing bodies.

State and local purchasers under this code range from state departments of insurance and finance to county governments, municipalities, special districts, and higher education institutions. The Michigan Department of Technology, Management, and Budget has posted multiple financial examination service RFPs for insurance companies; the Washington State Housing Finance Commission is administering a $10 million revolving fund; and California local governments including Sacramento County, the City of Milpitas, and Orange County Transportation Authority are soliciting investment advisory and swap advisory services. The County of Sacramento, City of Phoenix, DeKalb County School District, and numerous Florida municipalities and counties are active repeat buyers of financial advisory and consulting work. Issuing bodies also include specialized entities such as transit authorities, school districts, and nonprofit housing developers seeking accounting and financial management support. Recent opportunities in Michigan, California, Washington, Texas, Florida, Georgia, and Arizona demonstrate geographic spread across both coasts and interior regions. Representative recent activity includes the Michigan Department of Technology, Management, and Budget's RFP for Financial Examination Services Pre-Qualification (proposals due November 4, 2026, for financial examinations of approximately 1,400 Michigan-based insurance companies under NAIC guidelines); the County of Sacramento's on-call RFQ for financial consulting services supporting development impact fee programs and Community Facilities Districts (proposals due October 8, 2026); the City of Milpitas Investment Advisory Services RFP for city and Section 115 trust portfolio management (proposals due September 24, 2026); and the Gwinnett County Board of Commissioners' RFP for 1099 processing services (proposals due October 2, 2026, for approximately 3,000 annual forms). Pricing structures in financial advisory work typically combine firm fixed fees, hourly rates by personnel level, or tiered contingent fees based on recovery or transaction volume; contract terms range from one year with renewals to multiyear agreements with extension options.