If you want your money to do more for you, then consider a money market account. Wisconsin has dozens of banks offering residents both online and in-person banking services. These banks offer a wide range of money market accounts for you to choose from.
When searching for the ideal money market account, there are various factors to consider. A high-interest rate or annual percentage yield (APY) is usually the first consideration. You want to find a bank with a relatively stable APY. Banks change their interest rates depending on the market conditions. The APY alone is not the only factor to consider, as this can shift over time.
Other factors to consider are the ease of access, FDIC insurance, and minimum balance requirements. Some banks offer debit cards and check-writing capabilities, giving you quick access to your account. For example, if you are saving towards building an emergency fund, you need quick access to your funds in case of an unexpected emergency. These features will allow you to have the ease of access required.
Use our comprehensive review of some of the best money market accounts in Wisconsin to find the best match for your financial needs 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.