Best Money Market Accounts in Washington of May 2021

Mary Gilman

A money market account offers you a secure account that pays dividend rates that vary depending on market conditions. It provides you with an excellent opportunity to earn dividends and a competitive return rate while retaining easy access to your funds.

Washington has hundreds of banks that offer a wide range of money market accounts. To find the right account for you, shop around, and compare the options before deciding. Start by considering the rates, the higher the interest rate or the annual percentage yield (APY), the better.

Other factors to consider are the account fees, minimum requirements, and ease of access. For example, it won’t make much sense to go for an account with a high-interest rate and high account service charges. Look for an account with the best balance of high APY and low service charges.

Finding an account that is best suited for you can be time-consuming and challenging. To make this task easier for you, WalletBrain reviewed some of the best money market accounts in Washington.

We compared the rates, fees, minimum requirements, and other features. Use our top picks to compare and find the most suitable match for your financial needs 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