Best Money Market Accounts Of June 2026 — Up To 3.90% (original) (raw)

Below, learn more about each account and why we picked it. Annual percentage yields (APYs) and account details are accurate as of May 7, 2026.

Quontic Bank Money Market Account

Best for Large Balances

3.80%

Rates and details as of 4/14/26.

Editor's Take

Our research found that Quontic offers the best money market account for large balances, earning a 5.0-star rating from our research team. Quontic money market accounts provide a highly competitive APY of 3.80% across all balance tiers, with no monthly fee to eat into interest earned. The account requires a relatively low opening deposit of just $100 and comes with a debit card that customers can use at over 90,000 fee-free ATMs.

Since Quontic’s money market account doesn’t cap the dollar amount that can earn the high APY, it’s a suitable choice for savers looking to earn a competitive APY on large balances.

Pros & Cons of Quontic Bank Money Market Account

| Low minimum opening deposit required | | | --------------------------------------------- | | | | Customer service not available on weekends | | | Access to 90,000 fee-free ATMs | | | | |

Details

• Savers earn a healthy interest rate of 3.80% annual percentage yield, which applies to all balance tiers, identified as 0.01–0.01–0.01–4,999.99, 5,000.00–5,000.00–5,000.00–149,999.99 and balances over $149,999.99 no matter how much money is in your accounts, and interest compounds daily.
• You can access your account from more than 90,000 ATMs nationwide, and there’s no limit to the number of transactions you make in a month.
• A customer service representative is available Monday through Friday via live chat, email or phone, and you can also use the bank’s highly rated mobile app.
• There is no maintenance fee and few other costs involved with the account. You will owe 10forareturneddepositeditemand10 for a returned deposited item and 10forareturneddepositeditemand25 for an outgoing domestic wire transfer.

Vio Bank Cornerstone Money Market Savings Account

Editor's Take

Our testing found Vio Bank Cornerstone Money Market Savings Account is the best money market account for having no frills, earning a 5.0-star rating from our research team. It’s a straightforward account with a highly competitive APY of 3.60% on all balances, no monthly fee and relatively low minimum deposit requirement of $100.

The main drawback of Vio’s money market account, however, is that it does not offer a debit card or check-writing capabilities. Additionally, Vio is an online-only bank, so it does not operate any physical branches.

Pros & Cons of Vio Bank Cornerstone Money Market Savings Account

| | | | -------------------------------------------- | | | No debit card or check-writing capability | | Low minimum opening deposit required | | Daily compounding interest |

Details

Vio Bank’s Cornerstone Money Market Account offers a competitive interest rate 3.60% on all balances on all balances—and a low minimum deposit requirement. There’s no monthly maintenance fee and no charge for incoming domestic or international wire transfers.

As a customer, you can manage your account through the bank’s highly rated mobile app. You can also make internal and external transfers. If you decide to opt for paper statements, there’s a 0monthlyfee.Andthere’sa0 monthly fee. And there’s a 0monthlyfee.Andthere’sa10 excess transaction fee.

Interest is calculated daily and credited monthly. There’s a $10 fee for each withdrawal in excess of six per monthly statement cycle.

Redneck Bank Mega Money Market

Best for No Monthly Fee

Up to 3.85%

(on first $100,000)

Editor's Take

Our research found that the Redneck Bank Mega Money Market account is the best for having no monthly fee and a high APY, earning a 5.0-star rating from our research team. It requires a relatively high opening deposit of 500buthasnomonthlymaintenancefeeandcomeswithadebitcardforuseatthousandsofATMs.Theaccountearnsanimpressive3.85500 but has no monthly maintenance fee and comes with a debit card for use at thousands of ATMs. The account earns an impressive 3.85% APY on the first 500buthasnomonthlymaintenancefeeandcomeswithadebitcardforuseatthousandsofATMs.Theaccountearnsanimpressive3.85100,000 you save, while balances over $100,000 earn just 0.50% APY.

If you’re looking for a money market account that earns a high yield and has no monthly fee (and you aren’t carrying a huge balance), this account is worth considering.

Mega Money Market account holders earn 3.85% APY on the first 100,000theydepositandthen0.50100,000 they deposit and then 0.50% on each additional dollar. You’ll need to put down at least 100,000theydepositandthen0.50500 to open an account, but there’s no minimum balance requirement going forward.

Pros & Cons of Redneck Bank Mega Money Market

Details

• Mega Money Market account holders earn 0.50% APY on the first 100,000theydepositandthen3.85100,000 they deposit and then 3.85% on each additional dollar. You’ll need to put down at least 100,000theydepositandthen3.85500 to open an account, but there’s no minimum balance requirement going forward.
• Savers have access to fee-free ATMs, which you can find on Redneck Bank’s website, but you are only allowed to make six free transactions a month. You’ll owe 5foreachadditionaltransactionthroughoutthebillingcycle.Youcanmake10onlinemonthlybillpaytransactions,beforeowing5 for each additional transaction throughout the billing cycle. You can make 10 online monthly bill pay transactions, before owing 5foreachadditionaltransactionthroughoutthebillingcycle.Youcanmake10onlinemonthlybillpaytransactions,beforeowing0.50 for each additional one.
• There is a 3feeforpaperstatements,thoughnofeeforelectronicones,andyou’llowe3 fee for paper statements, though no fee for electronic ones, and you’ll owe 3feeforpaperstatements,thoughnofeeforelectronicones,andyou’llowe25 if your account has been overdrawn for 10 consecutive days.

Zynlo Bank Money Market

Best for Unlimited Transactions

Editor's Take

Our research found that Zynlo Bank’s Money Market account is the best money market account for unlimited transactions, earning a 4.9-star rating from our research team. The account earns an impressive yield of 3.90% APY and has no monthly fees to offset any interest you may earn. Unlike many other money market accounts, Zynlo does not put a cap on the number of transfers and withdrawals you can make per month. Instead, you can make unlimited transactions.

However, funds in your Zynlo Bank Money Market can only be withdrawn through digital transfer since the account does not come with a debit card or check-writing capabilities.

Pros & Cons of Zynlo Bank Money Market

| | | | -------------------------------------------- | | | No debit card or check-writing capability | | No minimum deposit requirement |

Details

You can open the account with only 0andearntheAPYwithaminimumbalanceof0 and earn the APY with a minimum balance of 0andearntheAPYwithaminimumbalanceof0.01.

Interest is compounded daily and credited monthly. The current APY is 3.90% APY. You’re limited to making six transactions per statement cycle from your account, but Zynlo doesn’t charge a fee for excess transactions.

Zynlo doesn’t offer checks or a debit card with this account. But you can access your account online or via the bank’s mobile app. Customer service is available 24/7 by phone.

Ally Bank Money Market Account

Editor's Take

Our research found that Ally Bank has the best money market account for beginner savers, earning a 4.8-star rating from our research team. Money market accounts at Ally Bank have no monthly maintenance fee or minimum deposit requirement. The account also has no overdraft fees and offers 24/7 customer support, making it a good option for beginner savers. All balances earn an above-average APY of 3.00%.

Ally is an online-only bank, meaning it has no physical branch locations. However, customers have access to over 75,000 fee-free ATMs through the Allpoint® and MoneyPass® networks. Ally even reimburses up to $10 per statement cycle for out-of-network ATM fees.

Pros & Cons of Ally Bank Money Market Account

| | Higher yields available elsewhere | | | ------------------------------------------------------------- | | | No minimum deposit requirement | | | Up to $10 per month reimbursement for out-of-network ATM fees | | | | |

Details

Ally Bank pays a competitive 3.00% on all balance tiers APY on its Money Market Account with no minimum deposit requirement. Account holders get standard checks and a debit card with this account.

Online-based Ally Bank provides 24/7 customer support via phone, live chat and email. It also gets high ratings for customer satisfaction.

Ally keeps fees to a minimum—it doesn’t charge fees for monthly maintenance, ACH transfers, incoming domestic or international wire transfers, cashier’s checks or copies of online statements.

Interest is compounded daily and credited monthly. Ally recognizes three balance tiers—less than 5,000,5,000, 5,000,5,000 to 24,999.99and24,999.99 and 24,999.99and25,000 or more. All three tiers pay the same money market account APY.

First Internet Bank Money Market Savings

Best for Online Banking

3.09% or 3.64%

Rates and details as of 2/8/26.

Editor's Take

Our research found that First Internet Bank offers the best money market account for online banking enthusiasts, earning a 4.8-star rating from our research team. First Internet Bank is a full-service online bank offering a range of banking products, including a money market account that offers 3.09% APY on balances up to $1 million and 3.64% APY on balances over this amount.

The account requires a relatively low opening deposit of 100andchargesa100 and charges a 100andchargesa5 monthly fee that you can waive by maintaining an average daily balance of at least $4,000. First Internet Bank’s mobile app received solid ratings—4.2 stars on the Apple App Store and 4.1 stars on the Google Play Store.

Pros & Cons of First Internet Bank Money Market Savings

| | | | | ------------------------------------------ | --------------------------- | | Relatively low minimum deposit requirement | Interest compounded monthly | | Full-service banking options | |

Details

• First Internet Bank’s Money Market Savings offers a competitive 3.09% APY with a daily balance of 5,000,000orbelowora3.645,000,000 or below or a 3.64% APY with a daily balance above 5,000,000orbelowora3.645,000,000. There is a 5monthlymaintenancefee,butyoucanavoidthisbykeepinganaveragedailybalanceofatleast5 monthly maintenance fee, but you can avoid this by keeping an average daily balance of at least 5monthlymaintenancefee,butyoucanavoidthisbykeepinganaveragedailybalanceofatleast4,000. Customers can open an account for $100, lower than required by some other banks and credit unions.
• To get a debit card or checks, you’ll need to open a separate checking account with First Internet Bank. Although there’s no ATM network, the bank does provide up to $10 per month in ATM surcharge rebates.
• Interest is compounded and credited monthly. There’s an excess transaction fee of $5 for certain types of transactions beyond six per statement cycle.

Sallie Mae Bank Money Market Account

Editor's Take

Our research found that Sallie May’s money market account is the best for check writing, earning a 4.7-star rating from our research team. The account features no monthly fee or minimum deposit requirement and a generous APY of 3.50%. The account does not come with a debit card but does offer check-writing capabilities.

As a drawback, the Sallie Mae Banking mobile app has low ratings (1.5 stars on the Apple App Store and 1.6 stars on the Google Play Store), with customers citing poor functionality.

Pros & Cons of Sallie Mae Bank Money Market Account

| | | | | ---------------------------------- | ------------------------------------- | | | Does not come with a debit card | | | No minimum deposit requirement | No customer service hours on weekends |

Details

• Sallie Mae Bank’s money market account features a competitive 3.50% APY with no minimum deposit requirement and no monthly maintenance fee. The account doesn’t come with a debit card, but account holders can write checks.
• Outgoing money market account transfers to repay loans at Sallie Mae are unlimited.
• Interest on Sallie Mae money market accounts is compounded daily and paid monthly.

Chevron Federal Credit Union MarketEdge Money Market Savings

Best for Credit Union MMAs

Editor's Take

Our research found that the Chevron Federal Credit Union MarketEdge Money Market Savings account is the best credit union money market account, earning a 4.6-star rating from our research team. Chevron Federal Credit Union offers a tiered money market account earning 0.75% to 3.20% APY, depending on your total account balance. Here’s a breakdown of each tier:

• **Up to $2,499.99:**0.75% APY
• **$2,500.00 to $9,999.99:**3.10% APY
• **$10,000.00 to $24,999.99:**3.10% APY
• **$25,000.00 and up:**3.20% APY

To earn the highest APY offered, you will need to maintain a hefty balance of at least $25,000, which is steep. However, the account has no monthly maintenance fee, which is a plus.

Pros & Cons of Chevron Federal Credit Union MarketEdge Money Market Savings

First Foundation Bank Online Money Market Account

Best for Earning a Competitive Yield

Editor's Take

Our testing found that the First Foundation Bank Online Money Market Account is the best money market account for earning a competitive yield, earning a 4.5-star rating from our research team. The account offers 3.75% on all balances. Plus, the account has no monthly fees. However, a minimum deposit of $1,000 is required to open an account, which could deter beginner savers.

Pros & Cons of First Foundation Bank Online Money Market Account

EverBank Performance Money Market

Best for ATM Access

3.80%

3.80% intro for the first year on balances up to $250,000; then ongoing rates apply.

Editor's Take

Our research found that the EverBank Performance Money Market account is the best money market account for ATM Access, earning a 4.2-star rating from our data team. Not only do customers have access to over 80,000 ATMs nationwide, but EverBank also reimburses up to 15inout−of−networkATMfeespermonth(orunlimitedreimbursementswithaminimumaveragedailybalanceof15 in out-of-network ATM fees per month (or unlimited reimbursements with a minimum average daily balance of 15inout−of−networkATMfeespermonth(orunlimitedreimbursementswithaminimumaveragedailybalanceof5,000).

Pros & Cons of EverBank Performance Money Market

Details

Interest is compounded daily and credited monthly. EverBank charges 10pertransactionovertheallowablelimitofsixperstatementcycle.EverBankrecognizesfivebalancetiers—lessthan10 per transaction over the allowable limit of six per statement cycle. EverBank recognizes five balance tiers—less than 10pertransactionovertheallowablelimitofsixperstatementcycle.EverBankrecognizesfivebalancetiers—lessthan10,000, between 10,000and10,000 and 10,000and24,999.99, between 25,000and25,000 and 25,000and49,999.99, between 50,000and50,000 and 50,000and99,999.99 and $100,000 and up. The lower your balance tier, the lower the APY you earn.

Comparison: Best Money Market Accounts

Most Popular is calculated from the number of times each affiliate product was selected by Forbes Advisor users over a six-month time period.

Compare Money Market Accounts by APY and Minimum Deposit

The table below compares APY and minimum deposit requirements for the top money market accounts.

Compare Money Market Accounts by Fees

The table below highlights fees charged by each of the top money market accounts, including monthly maintenance fees, wire transfer fees and overdraft fees.

Consumer Sentiment Index of Best Money Market Accounts

Forbes Advisor collects consumer sentiment by reviewing customer feedback across the internet, using the Consumer Sentiment Index (CSI). This is how real customers described their opinion of the top money market accounts to make our list.

How To Choose a Money Market Account

Here’s what to consider when shopping for a money market account:

• APY. One of the most important aspects of a money market account is the rate at which it earns interest or dividends. Look for an account that offers a competitive APY while meeting your other needs, such as low fees.
• Fees. Watch out for monthly fees, excessive transaction fees and other fees that can eat into your returns. Even a small monthly fee can add up over time.
• Minimums. Minimum deposit and balance requirements vary by institution. Generally, lower minimum requirements make it easier to maintain the account. Find an account with minimums that you can afford.
• Customer experience. Especially if you’re banking at an institution with limited branch access, make sure the bank or credit union offers customer care representatives who are accessible and responsive to your requests.
• Digital banking. Consider the online and mobile banking features most important to you. It’s also a good idea to check customer reviews of a particular bank’s mobile app.
• Accessibility. Banks and credit unions vary on how they allow you to withdraw funds from a money market account. Some offer check-writing and debit card privileges. Although the Federal Reserve Board has suspended Regulation D, which restricts the number of transactions a saver can make per cycle from their savings account, each institution has its own policies. Ask about withdrawal options and the excess transaction fee of each institution before you open an account.
• Safety. Look for an account insured by the FDIC, which provides up to $250,000 in insurance per depositor, per bank, for each account ownership category, in the event of a bank failure. At credit unions, make sure the account is insured by the NCUA. All our MMA picks are insured by one of these agencies.

Pro Tip

When choosing a money market account, you’ll find the best rates offered by online banks and credit unions, as opposed to large national banks. This is because online banks lack the overhead costs associated with maintaining physical branches. However, this means you will likely have to sacrifice in-person banking to receive a higher APY.

Recent News on Money Market Rates

At the Federal Open Market Committee (FOMC) meeting held on April 28-29, Fed Chair Jerome Powell announced the board voted to maintain the current benchmark rate. The target range remains at 3.50%-3.75%. Current money market account rates are a bit higher at some institutions.

Rates for money market accounts generally follow the federal funds rate, and the rate has remained in place for all meetings thus far in 2026. This comes after three consecutive quarter-point rate cuts in 2025.

Elevated inflation, slow job growth and uncertainty due to geopolitical risks are all factors the Fed considered in its latest monetary policy decision. Predictions are divided on whether any rate cuts will occur in 2026.

J.P. Morgan economists expect the Federal Reserve to hold the target range steady at 3.50%-3.75% for the rest of 2026, while CME Group’s FedWatch Tool shows probability of a rate cut increases as the year progresses.

Check out our savings rate forecast for additional insights into future interest rates.

People haven’t looked at money market accounts for several years because rates were so low. But rates are good now, and the risks are minimal. You can probably make more money on your savings with a money market account.

– Ann Logue, financial writer and author of Hedge Funds For Dummies

Current Money Market Account Rates

Average money market rates are generally much lower than the best money market rates available.

Is a Money Market Account Right for You?

A money market account is a financial tool, but its benefits depend on your goals.

You can use an MMA to fund an emergency account, for instance. You’ll have access to high yields while also being able to access your cash (depending on the particular terms and conditions of your account) at an ATM.

You can also use an MMA as your main transaction account. It also pays a solid interest rate that is much higher than one offered by even a high-yield checking account.

Another option is to reserve an MMA as a savings vehicle for a particular purchase, such as a family vacation or a down payment on a car. With your cash in a separate account from your typical checking and savings, you might be less likely to squander it.

In any case, consider the specific terms. MMAs differ in terms of minimum deposit requirements, the number of monthly withdrawals permitted and the ability to write checks.

Pro Tip

Want the freedom to access cash in your money market account quickly? Look for a bank with an appealing checking account as well. When you transfer funds from an MMA to a checking account at the same institution, you can access that money instantly. But if you transfer funds to an external checking account, it could take up to three business days for the funds to arrive.

Pros and Cons of Money Market Accounts

Money market accounts stand out for their flexibility and interest-earning capabilities; however, they’re not without drawbacks and might be too restrictive for some savers.

Here are some pros and cons to consider opening a money market account:

Alternatives to Money Market Accounts

Money market accounts are just one savings tool; you may find that others better suit your needs. Here are some trade-offs to consider:

Money Market Account vs. Savings Account

Both money market accounts and savings accounts offer customers a comparable interest rate on balances held by the bank.

The main difference rests in how they’re used. Money market accounts can take on more of a checking account function. Depending on the account, you’re able to write checks and make debit transactions.

Savings accounts, on the other hand, are typically reserved for cash that you don’t need to make ends meet on a day-to-day basis. The best high-yield savings accounts tend to offer more competitive APYs than most money market accounts.

Money Market Account vs. Certificates of Deposit (CDs)

Unlike a money market account, CDs are time-deposit accounts that generally lack liquidity. With these products, you agree to lock up your money for a certain period of time and earn a fixed interest rate on your principal balance in return.

Money market accounts, on the other hand, earn variable rates that can change at any time.

Though many factors influence the interest rates available on both accounts, money market rates can be competitive with the best CD rates.

Money Market Account vs. Money Market Mutual Fund

Money market accounts are interest-bearing savings accounts through financial institutions, while money market mutual funds are low-risk investment funds available through brokers. A money market account is FDIC insured, but a money market mutual fund is not.

Money Market Account FAQs

Are money market accounts FDIC insured?

Yes, so long as they are at a financial institution insured either by the FDIC or the NCUA. All of the banks on our list are FDIC insured up to $250,000 per depositor, for each account ownership category, in the event of a bank failure. The NCUA provides similar coverage for all federal and most state-chartered credit unions.

What is the risk of a money market account?

Like other bank accounts, money market accounts are insured by the FDIC or NCUA up to $250,000 per depositor per account in case of bank failure. This means you can rest assured that your money market account funds are safe up to this limit. If you need to deposit more than this amount, there are options for insuring your excess funds. But remember that money market accounts, while safe places to stash your money, are not the most lucrative and don’t always outpace inflation.

Are money market accounts taxable?

Yes, money market accounts are taxable. Any interest earned in a money market account is considered income by the IRS. Your bank or credit union should provide a 1099-INT form each year reporting taxable interest payments made to your account. If you don’t receive this form, you still must report taxable interest alongside your income when doing your taxes. And because MMAs are not tax-advantaged, everything you contribute is post-tax earnings.

Can you write checks from a money market account?

This practice varies. Some money market accounts allow you to write checks from the account or make debit card transactions. Generally, you’re limited to making six transactions per statement cycle, but each institution makes its own policies. Before opening an account, make sure to ask about withdrawal and excess transaction fees.

Can you lose money in a money market account?

Money market accounts are considered safe investments so long as funds are held at a financial institution insured by the FDIC at banks or the NCUA at credit unions. The FDIC insures funds held at banks up to $250,000 per depositor, for each account ownership category, in the event of a bank failure. The NCUA provides similar coverage for all federal credit unions and most state-chartered credit unions.

Money market accounts are also safe because they are not investment accounts. Your deposits are held securely until you need them and are not invested in risky assets such as stocks. Except for fees and penalties, there is no way to lose insured deposits in an MMA.

How do I open a money market account?

You can open a money market account in person or online by following these steps:

1. Compare money market accounts from different financial institutions to find the best rates and fees.
2. Gather the required documentation, such as your Social Security number and proof of identity.
3. Complete the online application process with your chosen financial institution—or visit a branch if online applications aren’t available.
4. Fund your account via direct deposit, a check or a transfer from an existing account.

Confirm your account is open and in good standing by regularly checking your money market account balance.

Banks We Monitor

Our research is sourced from the following financial institutions:

ableBanking, Ally Bank, Apple Federal Credit Union, Armed Forces Bank, Axos Bank, Bank OZK, BankPurely, BECU, Bethpage Federal Credit Union, Blue Federal Credit Union, BMO, CFG Community Bank, Chevron Federal Credit Union, CIBC Bank, CIT Bank, Citizens Bank, Comerica, Connexus Credit Union, Consumers Credit Union, Consumers Credit Union (MI), Digital Federal Credit Union, Discover, EverBank, Exchange Bank & Trust, Fidelity, Fifth Third Bank, Financial Partners Credit Union, First Citizens, First Foundation Bank, First Horizon Bank, First Internet Bank, Georgia’s Own Credit Union, Golden 1 Credit Union, Greenwood Credit Union, Hanscom Federal Credit Union, Hughes Federal Credit Union, Huntington Bank, Ideal Credit Union, iGoBanking, IncredibleBank, Keybank, Kinecta Federal Credit Union, M&T Bank, MAC Federal Credit Union, Main Street Bank, MSU Federal Credit Union, My eBanc, NASA Federal Credit Union, Nationwide Bank, NBKC Bank, Northern Bank Direct, Northpointe Bank, Nuvision Federal Credit Union, Pacific National Bank, Paramount Bank, PenAir Federal Credit Union, PNC Bank, Presidential Bank FSB, PSECU, Quontic, Redneck Bank, Regions Bank, Sallie Mae Bank, Santander, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Service Credit Union, Spectrum Credit Union, State Bank of Texas, State Department Federal Credit Union, State Farm, Superior Choice Credit Union, Synchrony Bank, TAB Bank, Texas Capital Bank, TotalBank, Truist Bank, U.S. Bank, UFB Direct, Union Bank & Trust, University Federal Credit Union, USAlliance Financial, Vio Bank, VirtualBank, Zions Bank and Zynlo Bank.