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Best Money Market Accounts
Best money market accounts with highest interest rates in 2024. Top rated banks offering high APY yield on MMA accounts.
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Discover Money Market Account Interest Rates and Offers
- 0.85% APY for balances of $100,000 and up
- 0.80% APY for balances between $2,500 - $99,999
- Easy online transfers from an existing bank account into your Money Market account
- Maximum FDIC insured for all deposits up to $250,000
- Low initial funding requirements – as low as $2,500 to open an account
- Access to over 60,000 Allpoint® or MoneyPass® ATMs - free withdrawals included
- Online account management from the web of the free mobile app
Discover Money Market Account Review
If you need to keep a cash balance in your traditional bank accounts, it is important to know that the money is only earning an average of 0.01% APY. There are alternatives for people who want a better return on their cash, and options from trusted names in the financial markets. Discover, the well know credit card company, is one of those companies that offers high-yield Money Market accounts through an online banking solution.
Their rates are often five to ten times better than the national average for Money Market interest rates.
Discover has invested heavily in its online presence and the new look and feel of the site is very user friendly. In addition to the ability to view account balances and transfer money in and out of the Money Market Account, clients can utilize the online calculators to compare interest rates between money placed into their Money Market accounts with the national averages for both savings and chequing accounts. Given the higher rates consistently offered by Discover, it will be easy to see that clients will be earning more money on their cash.
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Capital One 360 Savings Account Interest Rates and Offers
- Capital One offers clients high interest rate accounts via their Online Savings Account; they do not offer Money Market accounts.
- Provides high interest rate savings accounts for over 7.5 million people
- Easily link your existing bank accounts with the Orange Savings Account; no need to switch banks
- 24/7 online and mobile access via your smartphone or web browser
- Absolutely zero fees including all transfers into and out of the account
- No minimums required to open an account
- Highest level of security available keeps your accounts safe
- Ability to provide account access for up to three additional users
- Get started in less than 5 minutes using the online application process
- Maximum FDIC insured for all deposits up to $250,000
Capital One 360 Savings Review
High Interest Rates – The Capital One 360 savings account provides access to one of the highest interest rates available for cash balances. Current clients enjoy a 0.75% APY. When compared to the national average of approximately 0.10% it is easy to see how the Capital One 360 savings account can benefit you financially. For example, at 0.75% with a balance of $10,000 a Capital One 360 savings account client would earn $75 compared to only $10 with more traditional banks and other low interest rate providers.
No Fees – The Capital One 360 savings account has absolutely no fees, including account maintenance fees which many of their competitors charge. This means that all your money continues to earn interest and is not reduced by high costs of maintaining the account.
No Minimums – The Capital One 360 savings account has no minimums which also makes it a better value than many of the other banking alternatives. Many firms will charge clients at least $25 per month in order to keep the account open. Once again, this means that all your money continues to work for you as opposed to getting eaten up by high fees.
No Changing Banks – All bank accounts*, including accounts at other banks, can be electronically linked to the Capital One 360 savings account meaning it is easy to transfer money into and out of the account easily and quickly. In addition, up to three separate outside accounts can be linked to the Capital One 360 savings account. Accounts are simple to link using the online tool, and only take a couple of days to get set up and verified.
*Note: Brokerage and Money Market accounts are not permitted to be linked to the Capital One 360 savings account.
Read full Capital One 360 Savings review.
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BBVA Money Market Account Interest Rates and Offers
- 0.65% APY
- Offers tiered interest rates that help you grow your money faster
- $25 minimum opening deposit requirement
- Low $15 monthly service charge
- Service charge will be waived on balances over $10,000 or with the setup of a monthly automatic recurring transfer of $25 or more.
BBVA Money Market Account Review
The BBVA Money Market Account offers interest rates that are guaranteed to be higher than all other short term CD rates available by competitors
in the market today. In addition, these guaranteed rates are offered as part of a package that provides easier access to cash than traditional
CDs which can lock up your money for specific periods of time. Service fees are easily avoided by setting up an automatic monthly transfer of
$25 or more or maintaining a balance of at least $10,000.
Read full BBVA Money Market account review.
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Chase Plus Savings Account Interest Rate And Offering
- 0.10% APY for balances of $1,000,000 and up*
- 0.05% APY for balances between $100,000 - $999,999*
- 0.02% APY for balances between $0 - $99,999*
- Clients can receive better rates when your Chase Plus Savings Account is linked to an active Chase Premier Plus Checking account or Chase Premier Platinum Checking account.
*Interest is calculated based on daily balances and credited to the account holder monthly. Chase’s interest rates are variable and set daily by Chase. Rates are subject to change without notice. Rates are updated on the website by 11:00 am ET. Balance tiers are subject to change and are applicable as of the effective date of the interest rates. Depending on your market, rates may vary.
Chase Savings Account Review
JPMorgan Chase & Co. achieved the distinction of being the highest rated bank on the Fortune 500 list. With over 5,574 full service branches in twenty-six states, their network of full-service branches can provide first class service.
Read full Chase savings account review.
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Bank of America Money Market Savings Account Interest Rates and Offers
- 0.10% APY for Bank of America Preferred Rewards Platinum Honors customers
- 0.08% APY for Bank of America Preferred Rewards Platinum customers
- 0.05% APY for Bank of America Preferred Rewards Platinum customers
- Competitive 0.03% APY daily rate
- Low monthly account maintenance fee of only $12, but is waived if one of the following conditions is met:
- Maintain a daily balance of $2,500
- Link an existing Bank of America account to the Money Market Savings Account
- Become a Bank of America Preferred Rewards client
Bank Of America Money Market Savings Account Review
Bank of America is one of the largest banks in the world today. They consistently rank as one of the top ten banks and are ranked an impressive 9th on the Fortune 500 list. When you become a client of Bank of America, you get access to branches in all 50 states as well as 40 countries around the world. With over 300,000 employees and over 6,000 branches, access to your account is easy and always available.
Bank of America is so large, that approximately 12.2% of all domestic deposits run through their accounts and they have an annual revenue of over $150 billion.
Bank of America is a publicly traded company under the ticker symbol BAC. As a result, they are constantly driving for increased revenue and profitability, which does not always bode well for its customers. The bank typically has higher fees and less account offerings than its competitors. This has resulted in only an average rating in terms of customer opinions of the bank. Although you can get the same type of services from most banks available to U.S. customers, they are hit or miss in terms of offering the best value.
Read full BOA money market account review.
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