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Best Money Market Accounts in Virginia of February 2023

Mary Gilman

Whether you are saving towards short-term or long-term financial goals or simply creating an emergency fund, a money market account can help.

Virginia has hundreds of online and traditional banks. These banks offer a wide range of money market accounts for you to choose from. The challenge can be finding the right option for you.

Look for an account with the highest interest rate or annual percentage yield (APY). Also, consider the account fees and go for accounts with zero or low monthly maintenance fees and transactional charges. An account with high charges will chip away at your return.

Also, be on the lookout for restrictions. Some banks may have federal transaction limits on their money market accounts, while others may have their restrictions. Make sure you are aware of any potential restrictions to avoid running into obstacles in the future.

Ease of access to your account is another important factor to consider. If you prefer internet banking convenience, narrow your search on accounts. This will be easier for you to do by having a robust online presence.

We reviewed some of the best money market accounts in Virginia based on their rates, fees, minimum requirements, and other features. Compare our top picks and decide on the most suitable match for your financial needs 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