2025’s Top Money Market & Savings Accounts (Test Page)

What Are Money Market Accounts (MMAs)?

Money market accounts are hybrids of savings and checking accounts. These types of deposit accounts offer you the interest rates of a high-yield savings account with the ease of use of a checking account. Many MMAs come with a debit or ATM card, and some of them give you access to check-writing capabilities.

Despite this similarity with checking accounts, MMAs are not true transactional accounts. Because MMAs fall under the Federal Reserve’s Regulation D, they are considered savings accounts and are subject to the same transfer and withdrawal stipulations; account-holders are limited to six transfers and withdrawals per month, but in-person transactions (such as at a bank branch or ATM) are not counted as part of that limit.

What Are the Benefits of MMAs?

A main selling point for money market accounts is their dual nature. They provide you with the security of a savings account with the functionality of a checking account. Unlike with investments, you cannot lose money in an MMA; so long as you open an account with an FDIC-insured bank and are within the insurance limitations (typically $250,000 or less), your money is safe.

MMAs are useful accounts for when you want to protect your cash, earn interest on it, and still have easy access to your funds when you need them.

Are There Limitations?

MMAs that offer the highest APY typically require a higher opening balance. However, there are many MMAs that do not have a minimum opening balance or monthly maintenance requirements. Because you will likely be getting a higher APY than the average savings account’s rate, money market accounts may also charge you a service fee for the management of your funds. You may be able to have this fee waived by maintaining a certain monthly balance. Finally, just like with your regular savings account, you may be charged fees if you go over your six monthly transactions.

How to Choose the Best MMA for You

When selecting your best MMA, keep three things in mind: APY, opening balance requirements, and account features. Do you know that you need easy access to your funds? Ensure that you select an MMA that provides you with a debit card, an ATM card, and/or check-writing abilities. Do you think that your account balance will fluctuate often? Choose an MMA that either does not have a minimum monthly balance requirement or has one that you know you can stay safely above. Is APY your main concern? Filter your options by that alone. Note that how much money you intend to put into an MMA may influence the rates available to you.