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HomeMoney Market Accounts

Best Money Market Accounts 2026

Up to 4.85% APY with check-writing access and FDIC insurance. The national average MMA rate is 0.64% — switching earns you $2,105 more per year on $50,000.

6 accounts ranked

Updated April 2026

All FDIC insured

4.85%

Top MMA APY available today

0.64%

National average MMA rate

$4,210

Extra per year on $100K balance

4.85% APY

Best HYSA rate (comparison)

Quick Picks

Best Rate

Sallie Mae Money Market

4.85% APY, no minimum, check-writing

Best Full-Featured

UFB Portfolio MMA

4.81% APY + checks + debit card

Best Established Bank

Ally Money Market

4.40% APY, 24/7 support, no fees

All Money Market Accounts Ranked

Sallie Mae Money Market

Best rate

Best available APY with no minimum balance

Open Account

APY

4.85%

Minimum Balance

Check-Writing

Yes

Debit Card

Highlights

4.85% APY — no minimum
Check-writing included
No monthly fee
FDIC insured

Not ideal if:

Debit card access or mobile-first banking experience

FDIC insured up to $250,000

UFB Portfolio Money Market

Most flexible

Full-featured MMA with both checks and debit card

Open Account

APY

4.81%

Minimum Balance

Check-Writing

Yes

Debit Card

Yes

Highlights

4.81% APY
Check-writing + debit card
No minimum balance
No monthly fee

Not ideal if:

Depositors who prioritize brand-name banks

FDIC insured up to $250,000

CIT Bank Platinum Savings

Large balances ($5K+) at an established institution

Open Account

APY

4.55%

Minimum Balance

$5,000

Check-Writing

Debit Card

Highlights

4.55% APY on $5,000+
No monthly fee
Part of First Citizens Bank
FDIC insured

Not ideal if:

Check-writing or balances under $5,000

FDIC insured up to $250,000

Ally Bank Money Market

Best bank

Existing Ally customers and those who want a full banking relationship

Open Account

APY

4.40%

Minimum Balance

Check-Writing

Yes

Debit Card

Yes

Highlights

4.40% APY
Check-writing + debit card
No minimum balance
24/7 customer support

Not ideal if:

Maximizing yield — rate is slightly below leaders

FDIC insured up to $250,000

Discover Money Market

Existing Discover customers or those wanting a well-known brand

Open Account

APY

4.25%

Minimum Balance

$2,500

Check-Writing

Yes

Debit Card

Highlights

4.25% APY
$2,500 minimum
Check-writing included
Integrates with Discover checking/savings

Not ideal if:

Depositors under the $2,500 minimum

FDIC insured up to $250,000

Vanguard Cash Plus

Best for investors

Vanguard investors who want competitive yield on cash allocation

Open Account

APY

4.70%

Minimum Balance

Check-Writing

Debit Card

Highlights

4.70% APY
No minimum balance
FDIC sweep coverage
Seamless Vanguard integration

Not ideal if:

Those who need check-writing or debit access

FDIC insured up to $250,000

MMA vs HYSA vs CD — Which Is Right?

All three are FDIC-insured savings vehicles. The right choice depends on how soon you need the money and whether you want access.

	Money Market	HYSA	CD
Best APY available	4.85%	4.85%	4.50%
Liquidity	High	High	Low (penalty to break)
Check-writing	Yes (most)	No	No
Rate stability	Variable	Variable	Fixed for term
Minimum balance	$0 - $5,000	$0	$500 - $1,000
Best for	Operating reserve, large emergency fund	Emergency fund, short-term savings	Money locked away 6-24 months

Common Questions

Is a money market account the same as a money market fund?

No — these are completely different products. A money market account (MMA) is a bank deposit account, FDIC-insured up to $250K. A money market mutual fund is an investment product offered by brokerages — not FDIC-insured, though very low risk. When comparing rates, make sure you're looking at accounts, not funds.

How many withdrawals can I make from a money market account?

Federal Regulation D historically limited savings and money market accounts to 6 withdrawals per month, but the Fed suspended this in 2020. Many banks still enforce a 6-transaction limit and charge fees for exceeding it — check your account's specific terms before assuming unlimited access.

Are money market account rates going up or down in 2026?

MMA rates are tied to the Federal Funds Rate. With the Fed holding rates above 4% through early 2026, MMA rates have remained elevated compared to 2021-2022. If the Fed cuts rates later in 2026, MMA APYs will fall — locking in a CD at today's rates hedges against this risk.

Related Resources

Best MMAs — Full Guide

Detailed editorial review and methodology

Read guide

Best High-Yield Savings

Compare top HYSAs at 4.85% APY APY

Compare

I-Bond vs CD vs HYSA Calculator

Compare after-tax returns side by side

Calculate

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