Best Money Market Accounts of 2024

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In a world of financial choices, money marketplace accounts person softly persisted contempt humble liking rates. Discover nan standout banks of 2023, for illustration Axos Bank, CIT Bank, and Nationwide, that situation nan norm by offering money marketplace accounts boasting some elasticity and competitory returns.

Money marketplace accounts haven’t been drafting overmuch attraction successful caller years, and it’s easy to spot why.

Recent figures from nan Federal Deposit Insurance Corporation (FDIC) show that nan mean savings relationship complaint and nan mean money marketplace relationship complaint are presently astatine 0.64% APY arsenic of writing.

Still, location are a mini fistful of banks paying liking rates connected money marketplace accounts that rival those of certificates of deposit (CDs). And dissimilar CDs, money marketplace accounts don’t necktie your money up for a twelvemonth aliases much conscionable truthful you get nan highest slope liking rates.

Below, we’ve recovered nan astir lucrative money marketplace offers disposable now, and stock important relationship specifications to cognize earlier opening a money market.

Although Axos Bank presently offers nan champion return among money marketplace accounts we considered (they are presently paying 5.26%), it’s wise to return a look astatine Discover, CIT Bank, Nationwide, and BBVA to find nan champion merchandise for you.

The Most Important Factors for Money Market Accounts

  • Availability: While brick-and-mortar banks person money marketplace accounts, you mightiness find competitory rates and position done online institutions. Online banks thin to connection higher liking rates than their competition.
  • Minimum Deposit Requirements: Compare banks based connected your minimum deposit magnitude to find nan champion money marketplace rates for your savings. You mightiness besides get a higher complaint for a larger deposit, but nan thresholds for higher net alteration widely.
  • FDIC Insurance: Make judge immoderate money marketplace relationship you unfastened is backed by nan FDIC for amounts up to $250,000, which is standard. All of nan money marketplace accounts that made our ranking connection FDIC insurance.
  • Debit Card Access: If you want to entree your money marketplace costs pinch ease, having a debit paper helps. Check whether nan money marketplace relationship you’re considering offers a hassle-free measurement to entree your money erstwhile you request it.

The Best Money Market Accounts of 2024

The champion money marketplace accounts of 2024 are easy to unfastened and usage while offering a precocious return rate. The pursuing banks made our ranking based connected their money marketplace rates and different considerations:

  • Discover
  • BBVA
  • CIT Bank
  • Save Better
  • Axos Bank
  • Nationwide

Money Market Accounts – Reviews 

Although nan money marketplace accounts connected this database characteristic nan champion rates and terms, location are immoderate differences among them. For example, factors for illustration minimum deposit requirements tin vary, and money marketplace accounts often person their ain unsocial perks.

The pursuing money marketplace relationship reviews tin thief you determine betwixt today’s apical options.


Discover offers rather a fewer celebrated banking products extracurricular of its celebrated cash-back in installments cards. Along pinch location equity indebtedness products and individual loans, it offers money marketplace accounts pinch nary minimum equilibrium fees aliases different hidden fees.

Standout features that travel pinch Discover money marketplace accounts see entree to 60,000 ATMs nationwide, a free debit card, and entree to nan Discover mobile app.

Discover besides gives you nan action to unfastened your money marketplace relationship online, but you tin get started complete nan telephone arsenic well.

Current Money Market Account Rates:

As of writing, nan institution offers 3.90% APY connected balances nether $100,000 and 3.95% APY connected balances of $100,000 aliases more.

What Holds It Back:

A awesome downside of Discover money marketplace accounts is they require an first deposit of $2,500 to get started.


BBVA money marketplace accounts don’t person nan champion rates, but its $25 minimum deposit request to unfastened an relationship makes up for it. That makes BBVA a overmuch amended prime if you want to gain liking but person constricted savings correct now.

Money marketplace accounts from BBVA besides travel pinch up to six free withdrawals per month, and you tin negociate and oversee your relationship pinch easiness utilizing nan BBVA mobile banking app.

Current Money Market Account Rates:

Money marketplace rates scope from 0.010% to 0.150% for balances from $25 to $5 million. Rates are existent arsenic of penning and alteration by region.

What Holds It Back:

A awesome downside of BBVA is its debased rates compared to different financial institutions. However, its money marketplace rates are still higher for balances complete $10,000 than nan nationalist mean of each money marketplace accounts combined.

CIT Bank

CIT Bank is simply a celebrated online slope that’s known for its checking accounts and savings accounts. However, it besides offers a rewarding money marketplace relationship pinch precocious rates.

Money marketplace accounts from CIT Bank don’t person immoderate hidden fees aliases monthly attraction fees. You tin besides unfastened your relationship pinch arsenic small arsenic $100, truthful there’s a reasonably debased obstruction of introduction to get started.

The champion portion is you’ll gain nan aforesaid money marketplace complaint sloppy of really overmuch you support successful your account.

Current Money Market Account Rates:

As of writing, nan CIT Bank money marketplace complaint is astatine 4.05% APY.

What Holds It Back:

Like galore different money marketplace accounts, CIT Bank limits you to six withdrawals aliases automatic transfers per billing cycle. Since CIT Bank is an online bank, you’ll besides person to unfastened and negociate your relationship online.

Save Better

Save Better is besides a celebrated online slope that offers a very charismatic connection connected their rate deposits. Their products and offerings are done Axos Bank (read below) and are highly competitory among different financial institutions.

Their Reward Money Market programme offers check-writing capabilities conscionable for illustration immoderate different money marketplace account. There is nary minimum deposit to get started pinch entree to your costs 24/7 pinch their user-friendly online tools.

What Holds it Back:

Although location isn’t a minimum deposit required, location is simply a monthly work interest of $10 if your relationship drops beneath $5,000.

Axos Bank

Axos Bank is different online institution pinch an charismatic money marketplace relationship offer. This slope lets you unfastened a money marketplace relationship pinch nary fees involved. You’ll besides gain nan aforesaid return sloppy of really overmuch money you support successful your money marketplace account.

You get entree to a free debit paper erstwhile opening your account. It besides offers a $20 referral prize for each friend you mention to Axos who opens an relationship and meets minimum requirements.

Current Money Market Account Rates:

Axos Bank offers 4.20% APY connected each balances, arsenic of writing.

What Holds It Back:

Although Axos doesn’t require you to support a circumstantial magnitude of money successful your account, it does require an first deposit of $1,000 to get started.


Nationwide offers a generous money marketplace relationship rate. Interestingly, its money marketplace merchandise is managed by Axos Bank.

The Money Market Plus relationship from Nationwide lets you gain a generous return connected your money marketplace deposits, yet you tin besides get up to $10 successful home ATM fees reimbursed per month.

Another use of Nationwide is it offers nan aforesaid precocious money marketplace complaint sloppy of really overmuch you support successful your account. You besides get entree to integer banking tools, for illustration online measure salary and mobile cheque deposit.

Current Money Market Account Rates:

The existent complaint done Nationwide’s Money Market Plus merchandise is 0.50% APY arsenic of writing.

What Holds It Back:

Nationwide requires a minimum deposit of $1,000 to unfastened a money marketplace account. You besides person to support astatine slightest $1,000 successful your relationship to debar an $8 monthly attraction fee.

How We Found nan Best Money Market Accounts

While liking rates are easy nan astir important facet to see erstwhile comparing money marketplace accounts, we dug a small deeper to make judge each nan banks successful our ranking are reputable and fair.

Here are nan main factors we took into information while looking for nan champion money marketplace accounts for 2024:

  • Minimum Balance Requirements. The champion money marketplace accounts person reasonable minimum requirements to unfastened an relationship and reasonable minimum regular equilibrium requirements (or nary requirements) aft that.
  • Ease of Setup and Accessibility. We looked for accounts that make it easy to get started, arsenic good arsenic those that don’t punish you if you request to entree your funds.
  • FDIC Insurance. We only included money marketplace accounts that person FDIC insurance.
  • Fees. Money marketplace accounts pinch nary relationship opening fees aliases monthly attraction fees were fixed preference. In nan arena a attraction interest is charged, we only see banks that make it imaginable to person monthly fees waived.
  • Physical Access to Funds. Finally, we gave higher marks to money marketplace accounts that connection a free debit paper and entree via a ample ATM network. This entree becomes important if you request to get your hands connected your money marketplace costs successful a hurry (i.e., during an emergency).

What to Know About Money Market Accounts

Before opening a money marketplace account, you should understand really these accounts activity and really they stack up to online savings accounts. Here are immoderate of nan astir important factors to support successful mind.

  • Money marketplace accounts are really communal funds. According to nan U.S. Securities and Exchange Commission (SEC), money marketplace accounts are a type of communal money that was primitively developed successful nan 1970s. These accounts were intended to springiness investors nan chance to put successful securities that connection a amended complaint than accepted savings accounts.
  • Money marketplace accounts astatine a in installments national are not FDIC-insured. If you unfastened a money marketplace relationship astatine a in installments union, your costs are insured by nan National Credit Union Administration (NCUA).
  • Money marketplace returns are guaranteed. Although money marketplace rates aren’t arsenic precocious arsenic they erstwhile were, these accounts connection a guaranteed return pinch zero risk.
  • You won’t get rich | pinch a money marketplace account. If you support $10,000 successful a money marketplace relationship for 10 years and you gain 0.60% APY, you’ll extremity nan decade pinch a full of $10,669. If you want to earn passive income, plentifulness of different strategies tin thief you unafraid a amended return.

Summary: Best Money Market Accounts of 2024

Winning CategoryCurrent Money Market RatesMinimum Account Opening Balance
DiscoverBroad ATM Access3.40% APY connected balances nether $100,000 and 3.45% APY connected balances of $100,000 aliases more$2,500
BBVALow Opening Balance Requirement0.010% to 0.150% for balances from $25 to $5 million$25
CIT BankNo Fees4.05% APY$100
Save BetterHighest APY5.26% APY connected each balances$1,000
NationwideATM Fee Reimbursement0.50% APY$1,000

Bottom Line – Best Money Market Accounts of 2024

In 2024, contempt an mean APY of 0.33%, location remains a action of banks offering competitory money marketplace relationship rates that rival certificates of deposit without a semipermanent commitment. 

Axos Bank leads nan battalion pinch a generous 5.25% return, while different institutions for illustration Discover, CIT Bank, BBVA, and Nationwide besides guidelines retired for their appealing offerings. 

Prospective relationship holders should measurement factors for illustration minimum equilibrium requirements, accessibility, FDIC insurance, fees, and beingness entree to funds. 

It’s basal to retrieve that while money marketplace accounts connection guaranteed returns, they aren’t a way to important wealthiness but a secure, low-risk finance option.

Yes, money marketplace accounts are insured by nan Federal Deposit Insurance Corporation (FDIC) up to nan maximum limit allowed by law.

Money marketplace accounts are a low-risk, low-return finance option. They are a bully action for those who want a unafraid spot to parkland their money and gain immoderate interest.

Yes, immoderate money marketplace accounts travel pinch cheque penning privileges.

Money marketplace accounts typically salary higher liking compared to accepted savings accounts because they usually require a higher minimum equilibrium and connection constricted check-writing privileges.The financial institution tin past usage nan costs deposited successful these accounts to put successful low-risk, short-term securities, specified arsenic authorities bonds, which generates a higher return.This allows nan institution to connection a higher liking complaint connected nan money marketplace relationship while still maintaining a debased level of risk.

No, money marketplace rates are not fixed and tin alteration complete time. Money marketplace liking rates are usually tied to nan Federal Funds Rate, which is group by nan Federal Reserve. When nan Federal Reserve raises aliases lowers nan Federal Funds Rate, money marketplace rates will usually travel suit.