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Compare money market accounts

Money market savings accounts help you earn a competitive interest while giving you access to your money.

Compare money market accounts

We reviewed money market accounts from more than 70 institutions to help you find the best one for your lifestyle. Use this table to sort by APY, deposits and fees and use the filter to narrow down your search.

Online account

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on Quontic Bank's secure site
  • 5% APY
  • $0 monthly or overdraft fees
  • 90,000+ ATMs nationwide

Well-known brand

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on Discover's secure site
  • Easy cash access via ATM, debit or check
  • 4.05% APY on balances of $100,000 and above
  • 4.00% APY on balances between $1 to $99,999

Alternative: Treasury Bill

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on Public Invest's secure site
  • Up to 5.3% yield
  • $0 monthly fee for free accounts
  • Treasury bills are exempt from state and local taxes
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1 - 6 of 13
Name Product Account type Annual Percentage Yield (APY) FDIC or NCUA insured amount Minimum balance to earn interest Minimum deposit to open Offer Estimated total balance
Quontic Bank Money Market
Finder Score: 4.6 / 5: ★★★★★
Quontic Bank Money Market
Money market


Up to $250,000
Discover® Money Market
Finder Score: 3.9 / 5: ★★★★★
Discover® Money Market
Money market



Up to $250,000
CIT Bank Money Market
Finder Score: 3.9 / 5: ★★★★★
CIT Bank Money Market
Money market


Up to $250,000
Great Lakes FCU MMA through Raisin
Finder Score: 4.7 / 5: ★★★★★
Great Lakes FCU MMA through Raisin
Money market


Up to $250,000
Axos Bank High Yield Money Market account
Finder Score: 4.1 / 5: ★★★★★
Axos Bank High Yield Money Market account
Money market


Up to $250,000 individual
Axos Bank Business Money Market
Finder Score: 3.6 / 5: ★★★★★
Axos Bank Business Money Market
Money market


Up to $250,000
If you’re incorporated after June 1, 2020, you’ll get $200 added to your new account. Must maintain a daily balance of at least $2,500 for 60 days. Must apply with the promo code NEWBIZ200. If you’re not a new business, use promo code NEWAXOSBIZ for a $100 bonus.
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hours of research

Some of the top money market account providers we compare

Compare all accounts from 115+ banks, credit unions and brands

What is a money market account?

A money market savings account is like a marriage between a checking and a savings account. You get the savings benefit of a higher interest rate while enjoying the convenience of an ATM card and checks.

Still, there are some downsides. Money market accounts typically have higher opening balance requirements and you’re still limited to six monthly transactions.

Are money market accounts worth it?

Yes, if they align with your financial goals. Money market accounts are more flexible than savings accounts when it comes to accessing your cash. And if it has a high interest rate, it can be a great low-risk, short-term savings vehicle to park your cash.

But you should also be aware of its limitations, including caps on monthly withdrawals and the potential for higher return rates if you look elsewhere.

How do I compare money market accounts?

While most features of a money market account are like those of an everyday savings account, you’ll want to weigh factors that include:

  • Interest rate. Some accounts offer one rate no matter how much your account balance is, while others tier interest rates by ranges. With tiered interest rates, balances of $100,000 or more tend to earn the highest rates, though structures vary by bank.
  • Access to funds. Depending on the account you choose, you may be able to access your money through ATMs, debit cards, online banking, mobile banking, checks and branches.
  • Minimum balance requirement. Money market accounts typically require a set minimum balance in order to earn the highest interest rate. This amount could range from a few hundred dollars to several thousand dollars. Most money market accounts also require a certain minimum deposit to open the account.
  • Online trading. If you plan to trade online, consider opening an account linked to an online trading account. The seamless integration can help you manage your equity trading needs with ease.
  • Fees and charges. These accounts don’t often come with ongoing maintenance or management fees. But you could pay a transaction fee right away or after a limited number of free transactions each month. You might also pay a fee for needing checks and help in person. Online and phone transactions are generally free.

How do money market accounts compare to savings and checking?

Here’s a quick glance at how money market accounts compare to savings and checking accounts:

AccountBest forEarns interestCheckwriting privilegesATM accessMinimum depositMonthly feeSix transaction limitFederally insured
Money marketEasy access to savings
$2,500 to $10,000
SavingsStoring money for a later use
Not typically$0 to $100
CheckingEveryday spendingNot typically
$0 to $25

Is a money market account a type of money market fund?

No. A money market account is very different than a money market fund, which is a type of mutual fund investment that is not insured by the FDIC and can lose value. Money market fund providers go even further and invest your money in fixed-income securities, though they’re still considered one of the least risky investments available.

What’s the average rate on a money market account?

The national average for money market accounts is 0.68%, according to the Federal Reserve. However, some high-yield money markets earn rates as high as 5% APY.

How liquid is a money market account?

Money market accounts are more liquid than a savings account but less liquid than a checking account. Think of them as a happy medium between the two. You get the same ATM access and checkwriting privileges that you would with a checking account, but you’re still limited to six monthly transactions like you are with a savings account.

Types of money market accounts

There are five types of money market accounts:

  • Traditional money market accounts. These are a type of savings account that comes with some perks only found with checking accounts. You earn a competitive interest rate, but you also get a debit card and checks.
  • High-yield money market accounts. These are similar to traditional money market accounts, but they have even higher interest rates because they’re offered by online or digital banks, which have lower overhead.
  • Rewards money market savings account. As the name implies, this type of money market account comes with rewards, such as cash back on debit card purchases, higher interest rates, discounted fees or more.
  • Joint money market accounts. This is a traditional or high-yield money market account that’s jointly owned by two or more people.
  • Business money market accounts. Open a money market account for your business to grow your savings while maintaining easy access to funds and checkwriting privileges.

Money market account pros and cons

Money market accounts are FDIC insured and come with these advantages and disadvantages:


  • High interest rates. Most money market accounts have better interest rates than regular savings accounts, resulting in a noticeable difference to your bottom line.
  • Easy access to funds. Unlike savings accounts, money market accounts often come with ATM cards and check-writing privileges.


  • Balance requirements. Money markets have higher opening deposits than regular savings accounts, ranging from a few hundred dollars to $10,000.
  • Limited transactions. Similar to savings accounts, you’re limited to six outgoing transactions each month, with fees on every transaction over the limit.
  • Fees can add up. You could be on the hook for fees if your balance dips below a minimum requirement, you use your debit card overseas or you overdraw on your account.

    How to open a money market account

    Follow these steps to open your very own money market savings account:

    1. Compare money market accounts to find one that’s right for you.
    2. Visit the provider’s website to see if you can apply online or if you’ll need to call or visit a local branch.
    3. Gather all your required documents, including your Social Security number, government-issued photo ID and personal information.
    4. Apply for your account.
    5. Fund your new account with a linked bank account, wire transfer or money order.

    What eligibility criteria are required for a money market savings account?

    It depends on the bank, but you’ll generally need to meet these requirements to open an account:

    • At least 18 years old
    • US citizen or resident
    • Valid US residential address
    • Social Security number
    • Government-issued photo ID
    • Minimum opening deposit

    What is the top money market account?

    There are several top-rated money market accounts available today, but one of the best money market accounts is the NBKC Personal Money Market Savings account. While most money market accounts require opening deposits of $2,500 or more, you only need $0 to open this account. Plus, you’ll earn 2.25% APY on your total balance and enjoy no fees for monthly maintenance, overdrafts, returned items, nonsufficient funds and incoming domestic wire transfers.

    Are money market accounts safe?

    Yes. As long as the institution you keep your funds with is FDIC insured, you won’t have to worry about losing your money. When you open a money market account backed by federal deposit insurance, your account is typically insured for up to $250,000.

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    Cassidy Horton is a freelance personal finance copywriter and past contributing writer for Finder. Her writing and banking expertise have been featured in Forbes Advisor, Money, The Balance, Money Under 30,, and other top digital publishers. She holds a BS in public relations and an MBA from Georgia Southern University. See full bio

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