•
finance banking money market
Best money market accounts in February 2026
A money market account (MMA) or money market deposit account (MMDA) is a deposit account that pays interest based on current interest rates in the money markets.
What is a Money Market Account (MMA)?
A Money Market Account (MMA) is a “hybrid” bank account that offers the best of both worlds:
- High Interest: Like a savings account.
- Access: Like a checking account (debit cards and checks).
Think of it as a savings account that doesn’t trap your money. You can usually write a few checks per month or swipe a debit card at the grocery store, all while earning significantly more interest than a standard checking account.
Why use one?
- Convenience: You don’t need to transfer money to “Checking” every time you have a big expense. You can just write a check directly from your savings.
- Emergency Fund Access: If your car breaks down, you can pay the mechanic immediately with your MMA debit card, rather than waiting 1-3 days for a transfer.
- Safety: Like savings accounts, MMAs are FDIC insured up to $250,000.
When should you use an MMA?
- Large Expenses: You are saving for a down payment or renovation and need to write a large check eventually.
- Overdraft Protection: Many people link their MMA to their Checking account as a backup.
- Simplicity: You want one account for “saving and spending” without juggling transfers.
How to understand the table below
- APY (Annual Percentage Yield): The interest you earn in a year.
- Min Deposit: The specific amount needed to open the account.
- Monthly Fee: Maintenance costs. Most top accounts have $0.
- Check Writing: Confirms if the account offers physical checks (a key feature of MMAs).
Top Money Market Accounts (February 2026)
Ordered by APY potential:
| APY | Institution | Min Deposit | Monthly Fee | Check Writing |
|---|---|---|---|---|
| 4.10% | Quontic Bank → | $100 | $0 | Yes |
| 4.00% | Brilliant Bank → | $1,000 | $0 | Yes |
| 3.85% | Redneck Bank → | $500 | $0 | Yes |
| 3.80% | EverBank → | $0 | $0 | Yes |
| 3.80% | CFG Bank → | $1,000 | $0 | Yes |
| 3.75% | First Foundation Bank → | $1,000 | $0 | Yes |
| 3.70% | Vio Bank (Cornerstone) → | $100 | $0 | No (Online Savings) |
| 3.65% | Sallie Mae → | $0 | $0 | Yes |
| 3.40% | Discover Bank → | $0 | $0 | Yes |
| 3.30% | Ally Bank → | $0 | $0 | Yes |
| 3.26% | UFB Direct → | $5,000 | $10 (Waivable) | Yes |
Comparisons: What account do you actually need?
| Feature | Money Market (MMA) | High-Yield Savings (HYSA) | Checking Account |
|---|---|---|---|
| APY | High (~3.3% - 4.1%) | High (~3.5% - 5.0%) | Low (0.01%) |
| Check Writing | Yes (Limited) | No | Unlimited |
| Debit Card | Yes | No | Yes |
| Best For | Emergency funds you need fast | Long-term savings goals | Daily Spending |
Disclaimer: This is not a financial advice and Maxint is not affiliated with any financial instiution, product or service.