North Carolina has hundreds of banks offering a wide variety of money market accounts to its residents.
While the interest rate is an important factor in choosing a money market account, several banks offer the same annual percentage yield (APY). To differentiate between the different accounts, consider other account characteristics such as fees and minimum requirements.
Some of the accounts with a high APY also have a high initial deposit requirement. Others have high monthly and transactional fees. Look for an account with a high APY, low fees, and minimum requirements. The ease of access facilitated by a strong online and mobile presence is another factor to consider, especially if you’re saving for an emergency fund.
WalletBrain evaluated some of the available account options based on their APY, the minimum requirements, and terms and conditions. Based on our findings, here are our recommendations for the best money market accounts in North Carolina.
Use our comprehensive review to compare the top options to find the best fit for you.
This is a great money market account which acts like a checking account in some aspects.
It comes with a debit card and check writing privileges but be careful not to go over the monthly limit of 6 transactions. Per transaction above the limit will be expensive, around $10 per transaction.
This money market account comes with a low intial deposit of $100 to open the account and comes with no monthly fees. Interest is compounded daily and paid monthly.
You'll earn the current APY rate regardless the amount you deposit in the account - there is no tiered system.