Best Money Market Accounts in North Carolina of May 2021

Mary Gilman

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.

Axos Bank High Yield Money Market Account

axos bank logo

$0

Monthly Fee

$1000

Min. To Open

0.60%

Est. APY

Overview

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.

What we like

  • Reimburses domestic ATM fees twice a month
  • Interest compounded daily
  • Debit card and check writing allowed

What we don't

  • No physical branch
  • $1,000 to open account
  • 6 Monthly Transaction Limit

Account Fees & Information

  • Monthly Fee$0
  • Min. To Open$1000
  • Min. Deposit For No Fee$0
  • Overdraft Fee$25
  • InsuredFDIC
  • State RestrictionsNone

ATM & Limits

  • Monthly Transaction Limits6
  • Excessive Transaction Fee$10+
  • ATM FeesDepends on ATM
  • Check WritingAllowed
  • Debit Card UseAllowed

CIT Bank Money Market Account

cit bank logo

$0

Monthly Fee

$100

Min. To Open

0.50%

Est. APY

Overview

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.

What we like

  • No monthly fees
  • $100 to open
  • Zelle & Paypal available

What we don't

  • No check writing
  • No physical branch locations
  • No tier for higher APY

Account Fees & Information

  • Monthly Fee$0
  • Min. To Open$100
  • Min. Deposit For No Fee$0
  • Overdraft Fee$25
  • InsuredFDIC
  • State RestrictionsNone

ATM & Limits

  • Monthly Transaction Limits6
  • Excessive Transaction Fee$10+
  • ATM FeesDepends on ATM
  • Check WritingN/A
  • Debit Card UseAllowed