Money Market acct. vs. Savings acct?

My fiancee and I are opening a savings account this weekend, and want to know the difference between a traditional savings account and a money market account. I know the APY is higher in money market accounts, as well as the minimum to open.

We have a bank we are opening it with, but want to know the basic differences before we meet with the bank this weekend.

Are money market accounts risky?
Could i LOSE the money we put in?
Can you withdraw from savings accounts or are there stipulations in doing so?
Can I open a traditional savings now and transfer it to a money market later when we have the funds available?

Any insight would be helpful. I'm most concerned with the risk factors in money market accounts. Thanks.

Money markets do have a higher rate and like all savings accounts at a bank are FDIC protected up to $100K, but some savings accounts are just as high or higher. You won't lose your money. Check on the terms as some limit the amount of withdrawls you can make monthly or quarterly. Yes, you can transfer the money too. You may also want to look into higher interest rate savings accounts at your bank too. The Ultimate Money account at Citibank has higher rates than their MM accounts (4.0%) with no minimum and free check writing, bill pay, etc... Other online banks offer great rates too, like ING Direct or Emmigrant (about 3.6% right now)- Good Luck and shop around.