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Standout Money Market Accounts

Plus, everything you need to know about today’s accounts

The new money market accounts

The days when money market accounts paid sky-high interest rates are gone along with cassette tapes, dial-up internet and other once-amazing things. Today, they’re on par with most high-yield savings accounts, which pay a mighty fine interest rate by the way.

Choosing the account for you

Savings accounts typically have a lower minimum balance — making it easier for everyday consumers to open an account. MMAs, however, usually include a debit card. And both offer similar rates. In the end, it’s a matter of preference.

Check out these standout money market and savings account offers from our partners, and start earning interest.

Bank

APY

Monthly fee

Details

NerdWallet rating

at Goldman Sachs Bank USA

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APY

2.25%

With $0 minimum balance
Member, FDIC

$0

Pros

  • Access to customer service 6 days/week
  • No monthly fees

Cons

  • No checking account, mobile app or ATM access
  • No physical branches

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NerdWallet rating

at Capital One

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APY

2%

With $10000 minimum balance
Member, FDIC

$0

Learn more about the Money Market Account.

View Details

NerdWallet rating

at American Express National Bank

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APY

2.1%

With $1 minimum balance
Member, FDIC

$0

Pros

  • Customer service available 24/7
  • $0 minimum balance
  • No monthly fees

Cons

  • No checking account, mobile app or ATM access
  • No physical branches

View Details

Why online banks dominate the list

The two most important factors for virtually every bank-shopper are APYs and maintenance fees (since they have the biggest impact on your bottom line). And, as it happens, online banks are offering massive APYs — as much as 20x the average APY* — plus, they also offer rock-bottom maintenance fees.

*20x more interest based on the national average annual percentage yield ("APY") of 0.07% (as reported by the Federal Deposit Insurance Corporation as of March 5, 2018) as compared to online banks with interest-bearing savings account APYs of 1.45% or more. Estimated annual earnings result assumes principal and interest remain on deposit for one year and interest rates and APY do not change. Estimated annual earnings are for informational purposes only. Interest rates and APY are subject to change and specific results cannot be guaranteed.

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