Best Money Market Accounts 2026

A money market account is a type of FDIC-insured deposit account at a bank that typically combines a variable APY with check-writing privileges and sometimes a debit card or ATM card. Federal Reserve Regulation D historically limited savings and money market accounts to 6 outgoing transfers per month; the Fed suspended that rule in 2020, but a bank can still set its own limit. Unlike a CD, the APY on an MMA is variable — it changes with market conditions. Every MMA on this list is FDIC-insured. Source: FDIC deposit insurance rules at fdic.gov; CFPB Regulation DD at consumerfinance.gov.

These are fundamentally different products that are easy to confuse. A money market account (MMA) is an FDIC-insured deposit account at a bank — it is covered by federal deposit insurance up to $250K. A money market fund is an investment product offered through a brokerage — it holds short-term debt securities (T-bills, commercial paper) and is typically covered by SIPC (which protects against broker failure, not investment losses). Money market funds are NOT FDIC-insured and can, in rare circumstances, 'break the buck' (fall below $1.00 NAV). All products on this list are money market accounts at FDIC-member banks — not money market funds.

On October 10, 2026, the five open money market accounts in this guide paid 1.55%–3.90% APY, and the eight online savings accounts we track paid 3.10%–3.90%. The main difference is access: MMAs typically include check-writing privileges and sometimes a debit card. At some banks the savings account paid more than the same bank's money market account — Synchrony's savings paid 3.55% against 2.00% — and at Ally the two paid the same (3.10%). See our companion guide: Best high-yield savings accounts 2026 (/banking/personal/best-high-yield-savings-accounts-2026).

Yes — money market deposit accounts at FDIC-member banks are FDIC-insured up to $250,000 per depositor per insured bank per ownership category. This is the same $250K limit that applies to savings accounts and CDs. All six accounts on this list are at FDIC-member banks. Verify any bank's FDIC status at the FDIC BankFind Suite at banks.data.fdic.gov.

Two key differences: (1) APY flexibility — an MMA's APY is variable and can change at any time; a CD locks in a fixed APY for the entire term. (2) Liquidity — an MMA gives you ongoing check-writing and sometimes debit access; a CD locks your funds until maturity (with an early-withdrawal penalty for most standard CDs). If you want rate certainty for 12-24 months and don't need access, a CD is typically better. If you want check-writing access to the money, an MMA fits better. See our companion guide: Best CD rates 2026 (/banking/personal/best-cd-rates-2026).

Federal Reserve Regulation D historically limited savings and money market accounts to 6 outgoing transfers per month. The Fed suspended this rule in April 2020 — it is no longer federally enforced. Banks can still set their own limits: Ally, for example, limits certain withdrawals and transfers to 10 per statement cycle and may close an account that repeatedly exceeds it. Verify the specific bank's current policy before opening. MMAs are designed for stored value with occasional access — not daily transactional money flow.