Texas has hundreds of online and traditional brick-and-mortar accounts that offer residents a wide range of money market accounts. The challenge is to find an account best suited for your financial needs.
Money market accounts allow you to save money while earning dividends and interest on your savings. The interest rates can be tiered based on the balance on the account, or be a flat rate.
A high annual percentage yield (APY) is one of the main advantages of a money market account. A high APY means a higher return on invested funds. While you may seek out an account with a high APY, remember to also take low fees into consideration.
Accounts with no monthly service charges or those that waive fees, when you meeting certain requirements, will keep the account operating costs at a minimum.
Also, consider the minimum requirements and ease of use. Keep an eye out for accounts with little to zero minimum balances when starting your savings journey. If you are saving towards an emergency fund, consider an account that gives you access to a debit/ATM card, online, or mobile access.
Compare our top recommendations for some of Texas’s best money market accounts to find the most suitable match for you today.
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.