Nichole Martinez
The best money market account rate on the market right now is 4.00% APY at Brilliant Bank, more than seven times the FDIC's national average of 0.61% APY for these accounts. That gap matters because a money market account works like a savings account with one added perk: check writing privileges, which means you can put a high yield to work without giving up easy access to your cash.
Where Rates Stand Right Now
As of June 16, 2026, at least 16 banks and credit unions nationwide pay 3.00% APY or higher on money market accounts, with Brilliant Bank's Surge Money Market topping the list at 4.00% APY. All America Bank and Redneck Bank follow closely at 3.85% APY, both capping that rate at balances up to $100,000 (anything above that earns a lower rate). Quontic Bank pays 3.80% APY with just a $100 opening deposit, and Prime Alliance Bank offers 3.75% APY with no minimum deposit at all.
A cluster of banks, including Sallie Mae Bank, Merchants Bank of Indiana, BankUnited, Northern Bank Direct and Presidential Bank, all pay 3.50% APY, though their fee structures and balance requirements vary widely. Presidential Bank, for instance, requires a hefty $25,000 balance to earn that rate and avoid a $5 monthly fee, while Sallie Mae Bank has no minimum balance requirement at all. Further down the list, My eBanc pays 3.40% APY, UFB Direct offers 3.26% APY, and HUSTL Digital Credit Union pays 3.25% APY. Rounding out the top tier are Spectrum Federal Credit Union at 3.10% APY, and Ally Bank along with nbkc bank both at 3.00% APY.
Every institution on this list carries FDIC or NCUA insurance, meaning deposits are protected up to $250,000 per depositor per institution regardless of whether the bank has physical branches or operates purely online.
| Bank or Credit Union | APY | Minimum Opening Deposit | Monthly Fee | Monthly Withdrawal Limit |
|---|---|---|---|---|
| Brilliant Bank | 4.00% | $1,000 | None with $2,000 balance; otherwise $10 | Unlimited |
| All America Bank | 3.85% | $500 | None | 6, then $5 each |
| Redneck Bank | 3.85% | $500 | None | 6, then $5 each |
| Quontic Bank | 3.80% | $100 | None | 6, then $10 each |
| Prime Alliance Bank | 3.75% | $0 | None | 6, then $25 each |
| Sallie Mae Bank | 3.50% | $0 | None | Unlimited |
| Merchants Bank of Indiana | 3.50% | $50 | None | 6, then $2 each |
| BankUnited | 3.50% | $2,500 | None with $2,500 balance; otherwise $15 | Unlimited |
| Northern Bank Direct | 3.50% | $5,000 | None | Unlimited |
| Presidential Bank | 3.50% | $25,000 | None with $25,000 balance; otherwise $5 | Unlimited |
| My eBanc | 3.40% | $5,000 | None with $5,000 balance; otherwise $15 | Unlimited |
| UFB Direct | 3.26% | $0 | None with $5,000 balance; otherwise $10 | Unlimited |
| HUSTL Digital Credit Union | 3.25% | Any amount | None | Unlimited |
| Spectrum Federal Credit Union | 3.10% | Any amount | None | Unlimited |
| Ally Bank | 3.00% | Any amount | None | 6, then $10 each |
| nbkc | 3.00% | Any amount | None | Unlimited |
Keep in mind that
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