Best Money Market Accounts in Pennsylvania of December 2021

Mary Gilman

If you are looking to earn competitive interest rates on your savings and to retain ease of access to your funds, consider a money market account. Pennsylvania offers both online and traditional financial services including money market accounts.

One of the main factors to look out for when selecting a money market account is the interest rate. Some banks offer tiered interest rates, meaning the higher your balance, the higher the rate. As that rate will grow, your balance will also increase, making it easier for you to reach your savings goal faster.

Insurance protection is another factor to consider. FDIC insures up to $250,000 of your deposits. In the rare event that your bank goes under, your funds will still be protected. Before making a selection, shop around and compare the account fees. High account fees will affect your net earnings as well.

Another account feature to keep an eye out for is the minimum requirements. Some accounts have large minimum opening deposits or they require you to maintain a minimum account balance in order to waive account fees. Also consider ease of access such as ATM, online, and mobile access.

We compared some of the available options and selected our top picks for the best money market accounts in Pennsylvania. Use our list to review the different options to find the most suitable match for you today.  

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