Best Online Money Market Accounts

1.    Prioritize a High APY:

Aside from the security of deposit insurance, seeing your money grow over time is the biggest benefit of using a money market account. So focus your comparison efforts on finding the highest possible yield. In doing so, make sure to consider how much money you expect to keep in your account moving forward. Many accounts offer different interest rates based on your balance.

2.    Consider Monthly Fees & Accessibility:

If two accounts have the same APY, use the fees they charge as the tie-breaker. Just make sure you aren’t sacrificing access to your funds for a lower cost.


3.    Take Advantage of Benchmark Bonuses:

Many money market accounts offer higher interest rates when your account balance is above a certain amount. Others waive fees. Keep an eye out for these account features and factor them into your decision-making.

4.    Ignore Labels:

With your mission to find high rates and low fees in mind, remember that you don’t need to limit yourself to money market accounts. Checking accounts, prepaid cards and brokerage accounts are all worthy substitutes in the right situation.

For your convenience, we’ll compare some of the best options to consider below. 
 

Best Online Money Market Accounts Comparison