Money Market Account at Online-Only Banks
How online-only banks handle MMA accounts — rates, fees, and what to watch.
What to Expect from Online-Only Banks MMA Accounts
Ally, Marcus, Discover Bank, American Express Bank. Consistently lead rate tables by 1–3 percentage points due to near-zero branch overhead.
For MMA specifically: A hybrid deposit account combining savings-account interest rates with limited check-writing and debit-card access. Rates often tier by balance, rewarding larger deposits.. At online-only banks, the rate pattern reflects their cost structure and competitive positioning in the deposit market.
Rate Summary — MMA at Online-Only Banks
Typical APY range
4.20–5.00%
Minimum balance
$2,500+
Rate range as of 15 May 2026. Rates change daily — verify before depositing.
Key Characteristics at Online-Only Banks
- Check-writing access
- Debit card at many banks
- Tiered interest (higher balance → higher rate)
- FDIC insured up to $250,000
Which Depositor Profiles Fit This Combination
Emergency Fund Builder
Accumulating 3–6 months of expenses in an accessible, liquid account. Prioritises FDIC saf…
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Small Business Owner
Managing operating cash and reserves in a business entity. Needs ACH capability, FDIC cove…
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High-Net-Worth Depositor
Managing cash positions exceeding $250,000. Requires strategies for FDIC coverage beyond t…
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