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Best Money Market Accounts in New York of January 2023

Mary Gilman

New York is integral to the world of finance. It has hundreds of banks offering both online and traditional financial services to its residents. If you are searching for a money market account in New York, there is a wide range of options available.

A money market account offers a great way to increase your savings, as many offer high-interest rates. It is a low-risk investment perfect for building an emergency fund. It is also ideal for keeping any extra cash that you have on hand while earning consistent returns.

When choosing a money market account for your needs, it is important to compare the available options to get the best combination. Apart from the high-interest rate or annual percentage yield (APY), confirm whether the account has ease of access in the form of ATM, online, and mobile access. Also consider the number of transactions each month, the account fees, minimum requirements, and FDIC insurance.

WalletBrain compared some of the available options to identify the best money market accounts in New York. The features considered include the current APY, minimum deposit and balance requirements, fees, and other features. Use our top picks to compare and find the most suitable match for your financial needs.

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