FROM OUR PARTNERS

Best Money Market Accounts in Michigan of February 2023

Mary Gilman

When you want to save for a big goal and capitalize on rising interest rates, consider a money market account. 

Michigan has dozens of online and traditional banks offering financial services to its residents. If you are searching for a money market account in Michigan, there is a wide range of options available. 

These money market accounts are not the same; they offer different combinations of rates and features to attract customers. When searching for an account, aim to find one best suited to meet your needs. For example, the higher the interest rate or annual percentage yield (APY), the faster your funds will grow over time. If earning the best rate possible is the main goal, keep an eye out for accounts offering a high APY.

Ease in depositing and withdrawing funds is another factor to consider when deciding on an account. For example, having a debit or ATM card, online and mobile access, and check-writing capabilities can make an unexpected expense effortless and less stressful to complete.

Shop around and compare the available options based on rates, account fees, minimum requirements, ease of access, and other features.

Wallet Brain has done the homework for you. Use our comprehensive review of some of the top money market accounts in Michigan to find the best match for you today.

Access to a debit card

0.25%

Est. APY

$0

Min. To Earn APY

Overview

Axos offers no monthly fees and no minimum balance requirement but requires $1,000 to open the account which you can take out after opening.

What we like

  • No monthly fees
  • Access to debit card
  • Access to check writing

What we don't

  • No physical branch
  • $1,000 to open account

Schedule payments with Bill Pay

1.55%

Est. APY

$0

Min. To Earn APY

Overview

Build your savings with an above-average APY.

What we like

  • No monthly fees
  • FDIC Insured
  • Bill Pay feature

What we don't

  • Online banking only
  • Excess transaction fees
  • Overdraft fee

Interest compounded daily

3.00%

Est. APY

$0

Min. To Earn APY

Overview

Quontic provides a money market account that offers a competitive interest rate, which accrues daily. Also, customers can receive a debit card for the account.  

What we like

  • Competitive interest rate
  • Interest compounded daily
  • Debit card available

What we don't

  • Transfer and withdrawal limits

Fee-free access to ATMs

3.83%

Est. APY

$0

Min. To Earn APY

Overview

UFB Money Market Account comes with a debit card (you must request it) and allows fee-free access to any ATM within the US. 

What we like

  • Access to ATMs
  • High APY
  • No minimum balance requirements
  • Compliementary debit card

What we don't

  • $5,000 minimum to avoid monthly fees
  • No physical branches