Best Money Market Accounts for 2026
The best money market accounts in 2026 pay 4.30% to 4.65% APY. Synchrony Bank leads at 4.65% with no minimum balance. Discover Money Market is the only account here that includes check-writing. All four accounts are FDIC insured up to $250,000.
By David Rosenberg, Personal Finance Editor. Last updated: May 20, 2026. Rates change frequently. Verify each rate at the bank's rate page before opening an account.
A money market account is a savings account that pays more than a standard savings account. Many include an ATM card or check-writing, which gives you slightly more direct access to your cash than a typical high-yield savings account. Most money market accounts at banks are FDIC insured, and rates move up and down with market interest rates.
In 2026, the best money market accounts pay close to what the best HYSAs pay. The main reason to pick an MMA over a HYSA is access: if you want an ATM card or check-writing on your savings account, an MMA is the right tool. If pure rate is the goal and you do not need direct access, a HYSA may pay more.
The national average savings rate is 0.46% APY (FDIC, 2026). The four accounts below all pay well above that threshold.
| # | Bank | APY | Min. Balance | ATM | Check-writing | FDIC | Open |
|---|---|---|---|---|---|---|---|
| 1 | Synchrony Bank Money Market | 4.65% | $0 | Yes (ATM card included) | No | Yes | Open |
| 2 | CIT Bank Savings Connect | 4.50% | $100 for top APY | No | No | Yes | Open |
| 3 | Discover Money Market | 4.35% | $2,500 for top rate | Yes (60K+ ATMs) | Yes | Yes | Open |
| 4 | Capital One 360 Performance Savings | 4.30% | $0 | Yes (Capital One ATMs) | No | Yes | Open |
Synchrony Bank Money Market
FDIC insured · Min: $0 · ATM: Yes (ATM card included) · Checks: No
4.65%
APY
Synchrony Bank offers the highest APY in this comparison at 4.65% with no minimum balance required. An ATM card is included, which is useful for occasional cash needs. There is no check-writing, but the rate and low barrier to entry make this a strong default pick.
Pros
- Highest APY in this comparison at 4.65%
- No minimum balance to earn the top rate
- ATM card included for cash access
- FDIC insured up to $250,000
Cons
- No check-writing capability
- No physical branch locations
- Transfers to external banks can take 1 to 3 business days
CIT Bank Savings Connect
FDIC insured · Min: $100 for top APY · ATM: No · Checks: No
4.50%
APY
CIT Bank Savings Connect pays 4.50% APY and requires only a $100 opening deposit to qualify for the top rate. There is no ATM card or check-writing, but the rate is very competitive and the minimum is low. A solid choice if pure yield is the priority.
Pros
- 4.50% APY is second highest in this comparison
- Only $100 needed to earn the top rate
- No monthly fees
- FDIC insured
Cons
- No ATM card
- No check-writing
- Technically a savings account, not a traditional MMA
Discover Money Market
FDIC insured · Min: $2,500 for top rate · ATM: Yes (60K+ ATMs) · Checks: Yes
4.35%
APY
Discover Money Market stands out because it includes check-writing, which is uncommon among online banks. Access to 60,000 ATMs adds further flexibility. The $2,500 minimum balance is required to earn the top 4.35% APY. If liquidity features matter to you, this is the best option here.
Pros
- Check-writing included (rare for online banks)
- 60,000+ ATM locations nationwide
- Trusted national brand
- FDIC insured
Cons
- $2,500 minimum balance required for the top APY
- Lower APY than Synchrony and CIT Bank
- No physical branches
Capital One 360 Performance Savings
FDIC insured · Min: $0 · ATM: Yes (Capital One ATMs) · Checks: No
4.30%
APY
Capital One 360 Performance Savings is technically a savings account, but it functions much like a money market account. It has no minimum balance, ATM access at Capital One locations, and a well-regarded mobile app. The APY of 4.30% is the lowest in this comparison but still far above the national average.
Pros
- No minimum balance
- Physical Capital One branches and cafes available
- Strong mobile app with savings buckets
- FDIC insured
Cons
- Lowest APY in this comparison at 4.30%
- Not a true money market account
- No check-writing
Money market account vs HYSA: which should you choose?
Choose a money market account if you want some direct access to your savings. An ATM card means you can pull cash without transferring to a checking account first. Check-writing (available on the Discover MMA above) lets you pay bills or expenses directly. If you need either of those, an MMA is the right fit.
Choose a HYSA if your main goal is earning the highest possible rate on money you do not need day to day. HYSAs generally do not include a debit card or check-writing, but they often pay slightly higher APYs. The trade-off is that you rely on ACH transfers to move money, which can take one to three business days.
See our full best HYSA comparison at /best-high-yield-savings-account if you want to compare the top HYSA rates alongside these MMA options.
Money market account vs money market fund
A money market account is a bank deposit product. It is FDIC insured at member banks up to $250,000, which means your principal is protected by the U.S. government.
A money market fund is a type of mutual fund that invests in short-term debt instruments. It is NOT FDIC insured. While money market funds aim to keep a stable $1.00 net asset value, they can theoretically lose value. They are different products. Do not confuse them.
Are money market accounts safe?
Yes. All four accounts on this page are FDIC insured up to $250,000 per depositor, per bank. Your principal is protected. FDIC insurance is backed by the U.S. government and has never failed to pay a covered depositor since it was established in 1933.
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Open the HYSA CalculatorFrequently asked questions
What is a money market account?
A money market account (MMA) is a savings account that typically offers higher interest than a standard savings account, plus some access features like a debit card or check-writing. Most MMAs are FDIC insured. Rates are variable and move with market interest rates.
What is the difference between a money market account and a HYSA?
Both are interest-bearing savings accounts at FDIC-insured banks. The main difference is access: MMAs often include a debit card or check-writing; HYSAs typically do not. HYSAs sometimes pay higher rates because they do not have to support the cost of card infrastructure.
Are money market accounts FDIC insured?
Yes. Bank money market accounts (MMAs) at FDIC-member banks are insured up to $250,000 per depositor, per bank. Do not confuse them with money market mutual funds, which are NOT FDIC insured.
Is a money market account better than a savings account?
If you want to earn more interest on cash you might need to access, yes. A top-paying MMA or HYSA will earn significantly more than a traditional bank savings account, which pays about 0.46% APY on average in 2026. The best MMAs pay around 4.30% to 4.65% APY.
What is the best money market account right now?
In May 2026, Synchrony Bank Money Market offers the highest APY in this comparison at 4.65% with no minimum balance. If you need check-writing, Discover Money Market is the best option. If you want a balance of rate and brand recognition, CIT Bank Savings Connect is a solid choice.
Can I lose money in a money market account?
No, if it is FDIC insured. Bank money market accounts are deposit products covered by FDIC insurance up to $250,000. Your principal cannot decrease unless you make a withdrawal. Money market funds are different and can lose value.
How often do money market account rates change?
Rates are variable and can change at any time. Banks usually follow Federal Reserve rate decisions. When the Fed cuts rates, MMA rates typically drop within weeks. Check the bank's rate page regularly and consider a CD if you want to lock in a rate.
How we ranked these accounts
We ranked accounts by APY first, then adjusted for minimum balance requirements, access features (ATM card, check-writing), and brand reliability. APYs were pulled from each bank's official rate page in May 2026. The methodology page has full details. Primary data source: FDIC weekly national rates and each bank's published rate page.