Best Business Money Market Accounts of 2025
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The best business money market accounts offer interest rates of 2.00% or higher, with minimal restrictions or stipulations, and easy access to your funds via checks, debit cards and ACH transfers.
While many money market accounts still limit "convenient" withdrawals (via ACH, ATM, online banking or wire transfer) to six per month, few charge fees for exceeding that amount. And some have done away with transaction limits altogether. That makes money market accounts a great choice for your business’s emergency fund or cash you’re setting aside for short-term goals.
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First Internet Bank Business Money Market Savings
First Internet Bank Business Money Market Savings
3.46%
First Internet Bank’s Business Money Market account offers one of the highest, and most accessible, interest rates on the market. Account holders earn 3.46% APY on any balance up to $5 million, and can earn 4.42% APY if their balance exceeds that amount.
NBKC Business Money Market Account
nbkc bank Business Money Market Account
2.75%
The NBKC Business Money Market account is as simple as they come. You earn 2.75% APY, no matter your balance, and have no monthly fees or transaction fees to worry about. Plus, this online business account can be opened in a matter of minutes.
U.S. Bank Platinum Business Money Market Account
Platinum Business Money Market Account
3.50%
U.S. Bank's Platinum Business Money Market Account promotional rate of 3.5% APY boosts this money market account from just OK to a standout option, especially if you already have (or are looking to open) a U.S. Bank business checking account.
The bonus offer: Receive up to 3.50% APY from the account opening date when you open a new Platinum Business Money Market Account and complete qualifying activities, subject to certain terms and limitations. Member FDIC. U.S. Bank also has a welcome bonus of up to $500 for new business checking customers. Terms apply.
Grasshopper Bank Innovator Savings Account
Grasshopper Business Innovator Savings Account
3.55%
Grasshopper Bank's Innovator Savings Account earns up to 3.55% APY, but you need an average balance of at least $25000 to start earning that higher rate. While you won't get a debit card or ATM access with this money market account, you will get wire and ACH transfers (including free same-day ACH). And business owners can pay vendors by check via Bill Pay and order checks for their account through a third-party service.
TD Bank Small Business Premium Money Market Account
TD Bank’s Small Business Premium Money Market Account offers a surprisingly solid APY for a brick-and-mortar bank. At the high end, you can earn 2.00% APY with a balance of at least $250,000. At the low end, balances below $10,000 earn 0.15% APY. Between those markers, you can earn anywhere from 1.00% APY to 1.50% APY, depending on your balance.
Note: Only businesses located in a state where TD Bank operates can open an account. See account details below for eligible states.
BMO Business Elite Money Market Account
BMO (formerly BMO Harris) is another brick-and-mortar bank with a solid money market offering, with APYs reaching as high as 2.9%. Details: Earn a base rate of 0.80% APY. Eligible accounts can earn a relationship bonus of 0.60% to 2.10% APY with a quarterly combined balance of $100,000 or more across BMO Elite Business Money Market and Elite Business Checking accounts.
What is a business money market account?
A business money market account is a type of business savings account. Unlike traditional savings accounts, though, most money market accounts offer checks and/or debit cards so you can easily withdraw funds as needed. Money market accounts are FDIC insured up to $250,000 per depositor, like other business bank accounts.
Interest rates on business money market accounts vary widely from one financial institution to the next: anywhere from 0.01% to more than 4%, depending on the balance you keep. Unlike business CDs, which lock in rates for a selected term, interest rates on these accounts are variable and can rise and fall depending on the rate environment.
Should you open a money market account for your business?
Business money market accounts are a good option for business owners to save emergency funds or excess operating funds. Figure out what balance you can reasonably deposit and maintain, then shop around for the best rates, comparing business money market accounts with other high-yield business accounts.
Here are the different business savings options in order of typical APYs (highest to lowest). Consider rates as well as the accessibility of your funds.
Business CDs
These often offer the highest rates of any business savings tool, and that rate is locked in for your term (anywhere from a few months to a few years). Your funds are also locked up for the term, though, so this option is best for money you don’t need for at least 12 months. See our top picks.
Business savings accounts
A standard business savings account can deliver high-yield returns while still giving you access to your funds. You won’t get checks or even ATM access in most cases, but you can transfer money out of your business savings account if needed. Interest rates on business savings accounts are variable, which is a good thing in the current rate environment. See our top picks.
Business money market accounts
Funds in a money market account are more accessible than a standard savings account — you can typically write checks or use a debit card — and you’re not locked in for a specific term, like with a business certificate of deposit. Most business money market accounts do impose transaction limits and charge fees if you exceed six withdrawals per month.
Business checking accounts
High-yield business checking accounts typically have lower rates than other interest-bearing deposit accounts, but your money is easily accessible. See our top picks.
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American Express® Business Checking
1.30%
Business money market account rates
The national average rate for money market accounts is 0.64% APY as of Feb. 3, according to the FDIC. While our picks for the best business money market accounts earn well above that rate, many money market accounts for businesses fall far below the national average.
Interest rates on business money market accounts are often tiered: The bigger your balance, the higher your interest rate. You may need a balance in the millions to earn the top-tier rate with some money market accounts.
Rates can also vary depending on your location, particularly if a bank has a regional or national footprint. And if you have an existing relationship with the bank, you may qualify for a higher rate.
