Best Business Money Market Accounts of 2025

Business money market accounts offer annual percentage yields (APYs) that rival savings accounts while also giving you access to some of the flexible spending capabilities commonly associated with checking accounts. If you think this type of account could be a good fit for your business, here’s a look at the best options on the market today.

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Best business money market accounts of 2025

Member FDIC
ONLINE BANKING
MOBILE APPLICATION
Grasshopper Bank, N.A.
Innovator Savings
APY
3.55%
Service Charge
Svc Charge
$0
Minimum to Earn
Min to Earn
$25k
Min to Open
Min to Open
$100
Sponsored Note: Earn 3.55% APY with a minimum deposit of $25,000. Plus, move money seamlessly with unlimited transfers.
APY
3.55%
Member FDIC
Service Charge
$0
Min. to Earn
$25k
Min to Open
$100
Grasshopper Bank, N.A.
Innovator Savings
ONLINE BANKING
MOBILE APPLICATION
View Details
Sponsored Note: Earn 3.55% APY with a minimum deposit of $25,000. Plus, move money seamlessly with unlimited transfers.
Member FDIC
ONLINE BANKING
MOBILE APPLICATION
Republic Bank of Chicago
Business Digital Money Market - New Money
APY
4.55%
Service Charge
Svc Charge
$25
Minimum to Earn
Min to Earn
$0
Min to Open
Min to Open
$2.5k
Sponsored Note: Grow your business & achieve more with our Money Market. Member FDIC.
APY
4.55%
Member FDIC
Service Charge
$25
Min. to Earn
$0
Min to Open
$2.5k
Republic Bank of Chicago
Business Digital Money Market - New Money
ONLINE BANKING
MOBILE APPLICATION
View Details
Sponsored Note: Grow your business & achieve more with our Money Market. Member FDIC.

Compare top business money market rates nationwide

Search our robust database of banks and credit unions to find your perfect account.

Location
Deposit Amount
Filters
Institution
APY
Service Charge
Min. to Earn
Min. Deposit
CFG Bank
Member FDIC
Business Money Manager Plus
4.5 Our Rating
4.32%
$1k
View
CFG Bank
Business Money Manager Plus
View
4.5 Our Rating Member FDIC
APY 4.32%
Service Charge
Minimum to Earn $1k
Minimum Deposit
Planters Bank, Inc.
Member FDIC
Business Go 2 Rate Money Market
3.4 Our Rating
4.08%
$25k
View
Planters Bank, Inc.
Business Go 2 Rate Money Market
View
3.4 Our Rating Member FDIC
APY 4.08%
Service Charge
Minimum to Earn $25k
Minimum Deposit
Capital Community Bank (CCBank)
Member FDIC
Business Manager Connect (Money Market Sweep)
5.0 Our Rating
4.00%
$0
View
Capital Community Bank (CCBank)
Business Manager Connect (Money Market Sweep)
View
5.0 Our Rating Member FDIC
APY 4.00%
Service Charge
Minimum to Earn $0
Minimum Deposit
First State Bank (MI)
Member FDIC
Business Money Market Account
5.0 Our Rating
4.00%
$25k
View
First State Bank (MI)
Business Money Market Account
View
5.0 Our Rating Member FDIC
APY 4.00%
Service Charge
Minimum to Earn $25k
Minimum Deposit
REV Federal Credit Union
NCUA Insured
Business Money Market Account
5.0 Our Rating
4.00%
$0
View
REV Federal Credit Union
Business Money Market Account
View
5.0 Our Rating NCUA Insured
APY 4.00%
Service Charge
Minimum to Earn $0
Minimum Deposit
Financial Federal
Member FDIC
Business Money Market Account
5.0 Our Rating
3.85%
$5k
View
Financial Federal
Business Money Market Account
View
5.0 Our Rating Member FDIC
APY 3.85%
Service Charge
Minimum to Earn $5k
Minimum Deposit
Neighbors Federal Credit Union
NCUA Insured
Business Money Market
4.1 Our Rating
3.75%
$25k
View
Neighbors Federal Credit Union
Business Money Market
View
4.1 Our Rating NCUA Insured
APY 3.75%
Service Charge
Minimum to Earn $25k
Minimum Deposit
Rivermark Community Credit Union
NCUA Insured
Business High Yield Money Market
5.0 Our Rating
3.75%
$10k
View
Rivermark Community Credit Union
Business High Yield Money Market
View
5.0 Our Rating NCUA Insured
APY 3.75%
Service Charge
Minimum to Earn $10k
Minimum Deposit
The Middlefield Banking Company
Member FDIC
Business Money Market Special
5.0 Our Rating
3.75%
$10k
View
The Middlefield Banking Company
Business Money Market Special
View
5.0 Our Rating Member FDIC
APY 3.75%
Service Charge
Minimum to Earn $10k
Minimum Deposit
Washington Savings Bank (MA)
Member FDIC
Business Money Market Account
4.6 Our Rating
3.75%
$10
View
Washington Savings Bank (MA)
Business Money Market Account
View
4.6 Our Rating Member FDIC
APY 3.75%
Service Charge
Minimum to Earn $10
Minimum Deposit
East Cambridge Savings Bank
Member FDIC
Premier Commercial Money Market
4.6 Our Rating
3.70%
$10
View
East Cambridge Savings Bank
Premier Commercial Money Market
View
4.6 Our Rating Member FDIC
APY 3.70%
Service Charge
Minimum to Earn $10
Minimum Deposit
Prime Alliance Bank
Member FDIC
Business Money Market
4.8 Our Rating
3.60%
$1
View
Prime Alliance Bank
Business Money Market
View
4.8 Our Rating Member FDIC
APY 3.60%
Service Charge
Minimum to Earn $1
Minimum Deposit
MIDFLORIDA Credit Union
NCUA Insured
Business Money Market
5.0 Our Rating
3.51%
$10k
View
MIDFLORIDA Credit Union
Business Money Market
View
5.0 Our Rating NCUA Insured
APY 3.51%
Service Charge
Minimum to Earn $10k
Minimum Deposit
Gateway Bank, F.S.B.
Member FDIC
Business Premier Money Market Checking
3.6 Our Rating
3.50%
$25k
View
Gateway Bank, F.S.B.
Business Premier Money Market Checking
View
3.6 Our Rating Member FDIC
APY 3.50%
Service Charge
Minimum to Earn $25k
Minimum Deposit
Newtek Bank
Member FDIC
Business Money Market
4.7 Our Rating
3.50%
$0
View
Newtek Bank
Business Money Market
View
4.7 Our Rating Member FDIC
APY 3.50%
Service Charge
Minimum to Earn $0
Minimum Deposit
Next
On this page

What is a business money market account?

At its core, a business money market account is a type of deposit account. These accounts — like personal money market accounts (MMAs) — combine some of the features of both checking and savings accounts to give account holders more flexibility.

For example, business money market accounts typically offer higher interest rates than the standard business savings account. However, like a business checking account, they may also come with checks or a debit card, which gives you more control over withdrawals.

In exchange for that flexibility, these accounts often have strict monthly transaction limits. Other stipulations, such as a minimum deposit amount, may also apply. Plus, if you don’t adhere to these requirements, you may be subject to fees.

Similar to other deposit accounts, business MMA s are also offered by banks and credit unions. The funds in these accounts are typically insured by the Federal Deposit Insurance Corp. (FDIC) for up to $250,000 when held by the same owner or owners.

What are business money market account rates?

As stated earlier, business money market accounts typically offer higher interest rates than your standard savings account. The national average rates for money market accounts and savings accounts can fluctuate over time. The Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Administration (NCUA) regularly publish the latest average rates on their websites.

Banks and other financial institutions typically pay compound interest on money market accounts. This means interest accrues both on your principal balance and any interest earned while it's held in the account. In this case, the more often the bank compounds its interest, the higher the returns.

However, some financial institutions may limit which account holders are eligible to earn the highest rates. For instance, you may need to meet a minimum balance requirement to earn any interest, or there may be a tiered rate system that allows the highest balance holders to earn the highest rates.

 Want to know how much you could earn? Use our compound interest calculator to see how different rates can affect your savings.

Pros and cons of business money market accounts

As with any financial decision, there are some distinct advantages and disadvantages to opening a business money market account. Here are some factors you may want to consider as you weigh your options.

Pros

  • Your savings will be insured: The FDIC and National Credit Union Association (NCUA) insure most deposit accounts for amounts up to $250,000 per depositor, per insured bank, for each account ownership category.
  • You may earn interest at a higher rate: Business money market accounts traditionally offer higher interest rates than regular business savings or checking accounts.
  • You’ll have more flexibility: Money market accounts offer more flexibility than other financial vehicles, such as a traditional savings account or a certificate of deposit (CD). They may offer checks or a debit card to help you easily access the funds in your account.

Cons

  • You may be subject to account minimums: Some business money market accounts have minimum deposit amounts to maintain or minimum daily balance requirements.
  • You may face strict transaction limits: You may also be subject to transaction limits with a business money market account, such as being able to make only six transactions per month.
  • You may have to pay additional fees: If you are unable to comply with the account minimums or transaction limits, the bank or credit union may charge penalty fees.

How to choose a money market account for your business

Choosing a money market account for your business is not a one-size-fits-all endeavor. Because your business is unique, some business MMAs may be a better fit than others. As you begin your search for your perfect match, here are a few key factors to keep in mind:

Should you open a money market account for your business?

A business money market account can be a useful tool if you want to save money for your organization while maintaining some liquidity. These accounts typically have higher interest rates than standard savings accounts, and they may offer access to checks or a debit card for easy withdrawals.

At the same time, they may not be right for every business. If you need frequent access to your cash, for example, you may bristle at a business MMA that imposes strict monthly transaction limits. Plus, you could be subject to hefty fees with some accounts, especially if you can't meet the required account minimums.

With that in mind, consider how often you’ll need to access your cash and how much you intend to keep in the account on a regular basis. If you think you may need more than six transactions per month and anticipate having a fluctuating balance, you may be better suited to an alternative option that will give you more flexibility, such as a business checking account.

However, if you think you’ll be able to keep money in the account long-term and your balance is likely to stay stable or grow over time, you could be well-suited for a business MMA.

How to open a business money market account

Now that you know what a business money market account is and have a better idea of whether it is right for your organization, here’s a step-by-step guide on how to open an account.

  1. Do your research: Take some time to shop around and find the right business money market account for you. Use the key metrics listed above to help guide your search. Make sure you understand any prescribed account minimums, as well as the fee structure and the interest rate you’ll receive.
  2. Gather the necessary documents: Typically, you’ll have to provide IDs for any business owners whose names will be listed on the account. You’ll also have to prove that your business is a legally formed entity. This proof could be a federal tax ID number, such as an EIN number, or other legal documents, such as your articles of incorporation.
  3. Make your minimum deposit: Some business MMAs require a minimum opening deposit, while others let you open the account and fund it later. If your chosen account requires a minimum deposit, you’ll need to be prepared to fund the account with that amount on the day you open it.

Alternatives to business money market accounts

If you’re not sure that a business money market account is the right fit for your organization, you have alternatives. Here are a few to consider:

Business checking accounts

Your typical business checking account offers more flexibility than a business MMA. These accounts are designed for daily spending, so you likely won’t face transaction limits or account minimums.

Some business checking accounts earn interest, but the rates likely won't be as high as those of a typical money market account. As a result, this type of account is best suited for funds you’ll need to access regularly.

Business savings accounts

If you have less to save and don’t need to access your money often, a business savings account will likely be more suitable. These accounts usually won’t require account minimums, so you’ll be able to save at your own pace.

In exchange, however, the interest rates on business savings accounts are typically lower than on an MMA. Additionally, these accounts don’t provide checks or debit cards, so you’ll need to be prepared to make a transfer when you are ready to access your funds.

Certificates of deposit (CDs)

CDs often garner higher interest rates than savings or money market accounts. But there's a catch: To earn the full amount of interest and avoid an early withdrawal penalty, you'll need to leave the money untouched for its full term, which could last several months or even years.

With that in mind, you may want to reserve the use of CDs only for funds that your business may not need anytime soon.