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Best Money Market Accounts 2017

Banking, Savings Accounts
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NerdWallet's Best Money Market Accounts

Money market accounts are a safe place to stash your savings at a competitive interest rate. If you need easy access to your funds, the ability to write a few checks and decent interest, a money market account is a good option.

Our Nerds researched over 60 financial institutions to help you find the best account. We rounded up our favorites below based on rates, minimum deposits and other features, such as check-writing, debit cards and access to free ATMs. You can check out our detailed methodology at the bottom.

One thing to keep in mind, though: Minimum deposits for money market accounts are often higher than with high-yield savings. High-yield savings accounts have rates that are comparable and minimum deposits that are usually lower. See our savings accounts tool to surface some of the highest rates.

NerdWallet is a free tool to find you the best credit cards, cd rates, savings, checking accounts, scholarships, healthcare and airlines. Start here to maximize your rewards or minimize your interest rates. Margarette Burnette

Savings accounts are often a better bet

  • They often have higher or comparable interest rates
  • Their minimum deposits are lower than MMAs

1. Capital One

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on NerdWallet
Few financial institutions offer annual percentage yields as high as 1.20%, but that’s what you’ll get with a 360 Money Market fee-free online and mobile account from Capital One.

To get that leading rate, however, you’ll need a balance of $10,000 or more. If you don’t have that much, you’ll have to settle for a rate of 0.6% on balances up to $9,999. Still, that’s head and shoulders above the national average rate on money market accounts.

2. Ally

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on NerdWallet
Although not as strong as Capital One’s top rate, the 0.90% APY offered by online-only Ally Bank on all balances is better than most.

Ally’s money market account shines in other ways, too. For one, it comes with a debit card. And you can make free ATM withdrawals at more than 43,000 Allpoint cash machines.

Ally offers live customer service 24/7, and it reimburses up to $10 per statement cycle for fees incurred at ATMs outside the bank’s network.

3. Discover Bank

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at Discover
Discover Bank’s money market account has an attractive 1.05% APY on balances below $100,000. If you have more to deposit, the rate is 1.10% APY.

The bank, which operates online, has over 60,000 ATMs in its network. Discover also has a mobile app for iOS and Android devices that gets great ratings. The minimum opening deposit for a money market account is $2,500. If your balance drops below that amount — say, from withdrawals — there’s a $10 monthly maintenance fee.

4. Synchrony

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on NerdWallet
Not your typical bank, Synchrony has only one branch location and doesn’t offer checking. Its money market accounts, however, are worth a look, particularly if you prefer banking online.

Synchrony offers 0.85% APY on its money market account. There’s no minimum balance requirement or monthly maintenance fee.

Synchrony also has a vast free network of more than 2 million Plus and Accel ATMs. The bank offers a monthly $5 rebate on fees incurred for using cash machines outside the free network.

5. EverBank

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at EverBank
EverBank offers a traditional savings account with a competitive rate of 0.61% APY. Note that its money market account has a generous 1.31% introductory rate for new account holders, for balances up to $250,000.

The special rate lasts a year before the standard money market rate of 0.86% kicks in. You’ll need at least $5,000 to open the account.

Want to see what else is out there? Check out our money market tool for more options.

Margarette Burnette is a staff writer at NerdWallet, a personal finance website. Email: Twitter: @margarette.

Updated July 7, 2017.


To determine the best accounts, we took a close look at over 60 financial institutions: the largest U.S. banks based on assets, debit card volume, Internet search traffic and other factors; the nation’s largest credit unions, based on deposits as well as broad-based membership requirements; and other notable and/or emerging players in the industry.

Financial institutions surveyed include: Alaska USA Federal Credit Union, Alliant Credit Union, Ally Bank, Andrews Federal Credit Union, Aspiration, Associated Bank, Bank5 Connect, BankDirect, Bank of America, Bank of Internet, Bank of the West, Barclays, BB&T, BBVA Compass, Boeing Employees Credit Union, BMO Harris, Capital One 360, Charles Schwab Bank, Chase, Citibank, Citizens Bank, Comerica Bank, Commerce Bank, Connexus Credit Union, Consumers Credit Union, Discover Bank, EverBank, Fidelity, Fifth Third Bank, First Tech Federal Credit Union, Golden 1 Credit Union, GS Bank, HSBC Bank USA, Huntington Bank, KeyBank, MemoryBank, MetaBank, M&T Bank, Navy Federal Credit Union, Pentagon Federal Credit Union, People’s United Bank, PNC, Radius Bank, Regions Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Simple, Star One Credit Union, State Employees’ Credit Union of North Carolina, State Farm Bank, Suncoast Credit Union, SunTrust Bank, Synchrony Bank, TCF Bank, TD Bank, Union Bank, UFB Direct, USAA, U.S. Bank, Wells Fargo, Woodforest National Bank, Zero Financial and Zions Bank.

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