What to consider before opening a money market account When selecting the best money market account, look for the highest yield while also considering introductory rates, minimum balances and accessibility. All of the money market accounts below, which are savings accounts that may let you write a limited amount of checks per month, are insured by the FDIC at banks or the NCUA at credit unions. We regularly survey approximately 4,800 banks and credit unions in all 50 states to provide you with one of the most comprehensive comparisons of rates. Methodology for Bankrate's best money market accounts Outlets such as The Wall Street Journal, USA Today, The New York Times, CNBC and Bloomberg depend on Bankrate as the trusted source of financial rates and information. Hundreds of top publications rely on Bankrate. Bankrate was born in 1976 as “Bank Rate Monitor,” a print publisher for the banking industry, and has been online since 1996. Bankrate's experience on financial advice and reportingīankrate has more than four decades of experience in financial publishing, so you know you’re getting information you can trust. Just make sure that you’re within the FDIC’s guidelines and limits. (FDIC) money market account at an online bank is a safe way to get these high-yielding APYs. Online banks need to attract your attention and high yields are a way to do this, which is good for savers.Ĭhoosing a Federal Deposit Insurance Corp. This is because online banks don’t usually have as much overhead, since they don’t operate physical branches. Many online banks offer a more competitive yield than brick-and-mortar banks.
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Some accounts may let you write a limited number of checks and also offer a debit card.
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While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service.īankrate's guide to choosing the right money market account rateĪ money market account can be great for earning a high annual percentage yield (APY). Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.ī is an independent, advertising-supported publisher and comparison service. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.īankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. Our experts have been helping you master your money for over four decades. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our goal is to give you the best advice to help you make smart personal finance decisions. Editorial Independenceīankrate’s editorial team writes on behalf of YOU – the reader.
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