10 best money market accounts and rates for February 2026: Rates up to 3.9% APY

Core Insights - Money market accounts (MMAs) offer a combination of security and interest-earning potential, often featuring debit cards and check-writing capabilities, with current rates exceeding 4% APY [1][2] Group 1: Overview of Money Market Accounts - MMAs provide higher annual percentage yields (APY) compared to traditional savings accounts, making them suitable for short-term savings goals [26] - Interest on MMAs typically compounds daily and is credited monthly, enhancing the overall yield [27] - The average money market account rate is currently around 0.56%, with some accounts offering rates as high as 4% APY [28] Group 2: Top Money Market Accounts - EverBank Performance Money Market Account offers 3.8% APY with no monthly fees and daily compounding interest [3] - Sallie Mae Online Money Market Account provides 3.65% APY with no minimum balance requirement or monthly fees [4] - Ally Money Market Account features 3.3% APY, no minimum balance, and no monthly fees, with access to over 43,000 free ATMs [5] - Discover Money Market Account has a tiered APY of 3.3% for balances under $100,000 and 3.35% for higher balances, with no minimum deposit [10] - VIO Cornerstone Money Market Savings Account offers 3.7% APY but requires a minimum deposit of $100 and has a $5 monthly fee [11] - Zynlo Money Market Account provides 3.9% APY with a minimum opening deposit of $10 and no monthly fees [12] - Synchrony Bank Money Market Account has a lower APY of 2% but offers a zero-cost option with no minimum balance [13] - UFB Direct Portfolio Money Market Account features 3.26% APY with a $10 monthly fee unless a $5,000 balance is maintained [18] - First Foundation Bank Online Money Market Account offers a competitive 4% APY but requires a $1,000 minimum opening deposit [19] - Prime Alliance Bank Personal Money Market Account provides 3.75% APY with no minimum deposit or monthly fees, but lacks debit card access [21] Group 3: Methodology for Ranking - The evaluation of money market accounts was based on multiple criteria including APY, minimum balance requirements, fees, and access to funds [35][36] - Accounts were awarded points for features such as no monthly fees, low minimum deposits, and frequent interest compounding [36][37]