Best Money Market Accounts (May 2026)
Verified across 8 banks. Top APY is Vio Bank at 4.31% — roughly 8x the FDIC national average of 0.49%. Includes the one feature that separates MMAs from HYSAs.
Quick Answer
- Highest APY (any balance): Vio Bank Cornerstone MMA at 4.31% APY, $100 to open.
- Best with debit card included: Quontic Bank MMA at 4.25% APY, $100 to open, debit card + check writing.
- Best $0-minimum option: Sallie Mae MMA at 3.85% APY.
- National average: 0.49% APY (Bankrate). Top MMAs pay roughly 8x the average.
- MMA vs HYSA:MMAs come with check-writing + debit access. If you don't need either, a HYSA does the same job with a simpler account.
- Watch-out:not all bank MMAs are competitive. Synchrony's MMA pays 2.25% — far below their own HYSA at 3.50% and CDs at 4.00%.
Top 5 MMAs Compared
| Feature | Vio Bank | Quontic | Sallie Mae | UFB Direct | Discover |
|---|---|---|---|---|---|
| APY (top tier) | 4.31%Best | 4.25% | 3.85% | 3.51% | 3.40–3.45% |
| Min opening deposit | $100 | $100 | $0 | $0 | $0 |
| Min balance for top APY | $0 (any balance) | $0 (any balance) | $0 | Tiered ($25K+) | $0 / $100K for slight bump |
| Check writing | Yes | Yes | Yes | Yes | Yes |
| Debit card | Yes | Yes | No | Yes | Yes |
| Best for | Highest APY at any balance | Tied for cheapest minimum + strong rate | No-minimum, mid-tier rate | Axos / UFB ecosystem | Discover ecosystem + brand trust |
All 8 MMAs — Verified May 2026 Rates
| Bank | APY | Min open | Checks | Debit | Note |
|---|---|---|---|---|---|
| Vio Bank (Cornerstone) | 4.31% | $100 | Yes | No | Highest published rate. Online-only. ATM access via debit card available on companion checking. |
| Quontic Bank | 4.25% | $100 | Yes | Yes | No monthly fee, no minimum balance. Online-only. Strong all-around MMA. |
| Sallie Mae | 3.85% | $0 | Yes | No | No minimum, competitive rate. Same-bank synergy with Sallie Mae CDs and student loan refi. |
| UFB Direct (Portfolio MMA) | 3.51% | $0 | Yes | Yes | Tiered — top APY requires $25K+ balance. Axos Bank-owned, full digital banking. |
| Discover Money Market | 3.40% / 3.45% | $0 | Yes | Yes | Slightly higher rate (3.45%) on $100K+ balances. Strong customer service, full Discover ecosystem. |
| First Internet Bank MMA | 3.65% | $100 | Yes | Yes | Older online bank, competitive rates, full-service banking |
| Ally Bank MMA | 3.20% | $0 | Yes | Yes | Behind top-tier rates, but Ally's full-service ecosystem (checking + savings + brokerage) is strong |
| Synchrony Bank MMA | 2.25% | $0 | Yes | Yes | Synchrony's HYSA (3.50%) and CDs (4.00%) pay more — MMA is the weakest of their three deposit products |
MMA vs HYSA vs CD — At a Glance
MMA
Top: 4.31% APY
- Check writing + debit card
- FDIC insured up to $250K
- ~6 transactions/mo soft limit
- Best for: hybrid savings + spending
HYSA
Top: 3.50–4.00% APY
- ACH transfers only
- FDIC insured up to $250K
- ~6 transactions/mo soft limit
- Best for: emergency fund, simplest savings
CD
Top: 4.05–4.34% APY
- Locked term, early-withdrawal penalty
- FDIC insured up to $250K
- Rate certainty
- Best for: known-date goals (down payment, tuition)
Which MMA should you open?
Pick the row that matches your situation:
- You want the highest rate, no debit card neededVio Bank Cornerstone (4.31%)Highest published rate. Open companion Vio checking for ATM/debit access if needed.
- You want one MMA with everything (rate + debit + checks)Quontic Bank (4.25%)Top combination of APY, no minimum balance, and full day-to-day flexibility.
- You don't want a $100 minimum to openSallie Mae (3.85%) or Ally (3.20%)Both fund with $0. Sallie Mae pays more; Ally adds full-ecosystem banking.
- You want $250K+ insured but don't want to split across banksPair Vio MMA + Quontic MMA + Sallie Mae MMAThree accounts × $250K each = $750K FDIC coverage with all rates above 3.85%.
- You're already at Synchrony for HYSA / CDsSkip the Synchrony MMASynchrony MMA pays only 2.25% — their own HYSA (3.50%) and CDs (4.00%) pay more.
- You want it for daily spending in addition to savingsReconsider — use a high-yield checkingEven MMAs with debit cards have 6 transactions/mo soft limits. For daily spending, a high-yield checking or rewards checking is built for the use case.
Open a Quontic MMA
Quontic's MMA pays 4.25% APY on any balance, $100 to open, with both check writing and a debit card included. Best all-around money market account verified May 2026.
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Methodology
Money market accounts are ranked by published APY (tier-1 published rate to a $25K balance, since most MMAs have rate tiers); monthly fees; minimum balance to earn the headline rate; check-writing privileges (the MMA differentiator vs HYSA); FDIC/NCUA insurance; and ATM access if the bank issues a debit card. We exclude MMAs whose advertised APY only applies to portions of the balance below or above specific thresholds without disclosing the tier structure clearly. Rates verified weekly against each bank's disclosure page.
Frequently Asked Questions
How we verified this
All 8 MMA rates verified May 1, 2026 against the bank's own current rate disclosure, plus cross-referenced against Bankrate's April 2026 MMA report, CNBC Select's May 2026 best MMAs, Money.com's 2026 review, and FinanceBuzz. National average rate (0.49%) cited from Bankrate's April 2026 national rate average. MMA rates change frequently — confirm with the bank before funding.
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Updated May 1, 2026.