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Best Money Market Accounts in Texas of February 2023

Mary Gilman

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.

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