Best Money Market Accounts for 2026
This page holds one money market account we have verified against the bank’s own documentation, and two savings accounts that savers commonly compare against it. The savings accounts are labelled as savings accounts throughout: they are not money market accounts and we do not present them as such. Money market accounts add card access or check-writing on top of an interest-bearing balance. We do not print each bank’s rate on this page, since it can change without notice. All three accounts below are FDIC insured up to $250,000.
Account details on this page were last checked on August 23, 2026. We do not publish a bank’s APY here, because savings rates change without notice and a stale number is worse than none. Use the link by each account to see the rate the bank is paying right now. National averages come from the FDIC National Rates and Rate Caps.
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.
Money market accounts and HYSAs often pay similar rates. 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, compare both account types, since either could pay more depending on the bank.
The FDIC put the national average money market rate at 0.63% APY in its August 2026 figures. The three accounts below are built to pay well above that.
| # | Bank | Rate structure | Min. Balance | ATM | Check-writing | FDIC | Current rate |
|---|---|---|---|---|---|---|---|
| 1 | Synchrony Bank Money Market | One rate at any balance | $0 | Yes, optional ATM card | Yes, on request | Yes | Check |
| 2 | CIT Bank Savings Connect | Check current terms at CIT | $100 to open | No | No | Yes | Check |
| 3 | Capital One 360 Performance Savings | One rate at any balance | $0 | No, transfer to checking first | No | Yes | Check |
Synchrony Bank Money Market
FDIC insured · Min: $0 · ATM: Yes, optional ATM card · Checks: Yes, on request
One rate at any balance
Rate structure
Synchrony Bank has no minimum balance and pays one rate at any balance. An optional ATM card is available on request, which is useful for occasional cash needs, and checks can be requested too, which Synchrony does not offer on its High Yield Savings. Between that and the zero minimum it is an easy default pick.
Pros
- One flat rate at any balance
- No minimum balance requirement
- Optional ATM card for cash access
- FDIC insured to $250,000 per depositor, per bank, per ownership category
Cons
- Checks must be requested rather than issued automatically
- No physical branch locations
- Transfers to external banks can take 1 to 3 business days
CIT Bank Savings ConnectSavings account, not an MMA
FDIC insured · Min: $100 to open · ATM: No · Checks: No
Check current terms at CIT
Rate structure
CIT Bank Savings Connect opens with $100 and charges no monthly fee. There is no ATM card and no check-writing. We previously described the rate as tiered by balance; we could not confirm that against CIT's own current documentation, so we have withdrawn the claim rather than restate it. Check the rate structure and the current rate on CIT's own page before opening.
Pros
- Low $100 minimum to open
- No monthly fees
- FDIC insured
- No monthly fee and a low $100 minimum to open
Cons
- No ATM card
- No check-writing
- Technically a savings account, not a traditional MMA
Capital One 360 Performance SavingsSavings account, not an MMA
FDIC insured · Min: $0 · ATM: No, transfer to checking first · Checks: No
One rate at any balance
Rate structure
Capital One 360 Performance Savings is technically a savings account, but it functions much like a money market account. It has no minimum balance and a well-regarded mobile app, and it is the only account here with branches, which matters if in-person banking is important to you. One thing to be clear about: you cannot withdraw from the savings account at an ATM. Capital One states that withdrawals are made online or at a branch, and that reaching an ATM means transferring to a checking account first.
Pros
- No minimum balance
- Physical Capital One branches and cafes available
- Withdraw online or at a branch
- Strong mobile app with savings buckets
- FDIC insured
Cons
- Not always the top payer among online savings and MMA options
- 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 optional ATM card, like the one available with Synchrony above, means you can pull cash without transferring to a checking account first. If you specifically need check-writing on a savings-type account, compare options carefully, since it is uncommon among the accounts on this page.
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 three 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. The FDIC put the national average savings rate at 0.38% APY in its August 2026 figures, and the average money market rate at 0.63%. A competitive MMA pays several times either average. Compare the rate structure below and check each bank's own page for today's number.
What is the best money market account right now?
It depends on what you need. Synchrony has no minimum balance and offers an optional ATM card on request. CIT Bank Savings Connect opens with $100. We do not state how CIT structures its rate, because we could not confirm it against CIT's own documentation. Compare the rate structure below and check each bank's own page for the current number before you decide.
Can I lose money in a money market account?
At an FDIC-member bank, eligible deposits are insured to $250,000 per depositor, per bank, per ownership category, so a bank failure is covered within those limits. Amounts above the applicable limit are not, and fees or an account falling dormant can still reduce a balance. A money market FUND is a different product, is not FDIC insured, 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 order accounts by minimum balance and access features (ATM card, check-writing). We do not rank by APY, because we do not publish APYs: rates move without notice and we have no maintained feed that would keep a figure honest between updates. Each account links to the bank’s own rate page instead. The methodology page has full details. Primary data source: FDIC weekly national rates and each bank's published rate page.
What to do next
Want to know when the savings landscape changes?
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