Overview
Compare the best money market accounts with high APYs and check-writing privileges. Find accounts that combine savings rates with checking flexibility. Finding the right option depends on your specific needs, spending habits, and financial goals. Below we break down the key factors to consider and the top choices available.
Top Money Market Accounts Compared
| Provider | Minimum Balance | Best For | Rating | |
|---|---|---|---|---|
| Vanguard Cash Plus | $0 | Investors wanting cash alongside brokerage | ⭐ 4.7 | Compare → |
| Fidelity Money Market | $0 | Check-writing + debit card access | ⭐ 4.7 | Compare → |
| Ally Money Market | $0 | Full banking features, no minimum | ⭐ 4.6 | Compare → |
| Discover Money Market | $2,500 | Check-writing, ATM card included | ⭐ 4.5 | Compare → |
| Marcus by Goldman Sachs | $0 | Simple, competitive rate, no fees | ⭐ 4.5 | Compare → |
How These Accounts Compare
Vanguard Cash Plus is aimed at investors who want their uninvested cash earning a competitive rate right alongside their brokerage account, with no minimum balance to get started.
Fidelity Money Market offers genuine check-writing and debit card access — a real differentiator from many money market accounts that only offer limited transaction types.
Ally Money Market combines a competitive rate with no minimum balance and full banking features like check-writing, making it a strong all-around choice.
Discover Money Market requires a $2,500 minimum balance but includes check-writing and an ATM card, positioning it between a savings and checking account.
Marcus by Goldman Sachs keeps things simple — a competitive rate with no fees, though without the check-writing features some competitors include.
Money Market vs. Savings vs. CDs
- Money market accounts typically offer check-writing/debit access that savings accounts don't, often with tiered rates based on balance.
- Savings accounts are usually simpler with no check-writing, but many now offer comparable or better rates than money market accounts.
- CDs lock in a fixed rate for a set term, trading flexibility for often (but not always) a higher guaranteed rate.
Frequently Asked Questions
A money market account is an FDIC-insured bank deposit account. A money market fund is an investment product (not FDIC-insured) that invests in short-term securities. They're often confused but function very differently.
Often yes — many money market accounts (Fidelity, Discover, Ally) include check-writing privileges, unlike most standard savings accounts. Confirm this specifically if it matters to you, since not every provider includes it.
Yes, a money market account (as opposed to a money market fund) held at an FDIC-insured bank is protected up to $250,000 per depositor, the same as any other deposit account.