Money market accounts have similar interest rates to high-yield savings accounts and check-writing access.

Ally Bank's Money Market Account Pros: – No minimum deposit – Minimum balance to earn APY is only $0.01 – No monthly fee – 1.40% APY Cons: – Online only

CIT Bank: Money Market Account Pros: – Minimum balance to earn APY is only $0.01 – No monthly fee – 1.30% APY Cons: – Online only – $100 minimum deposit to open

First Internet Bank: Money Market Account Pros: – Up to $10 per month in ATM surcharge rebates – Minimum balance to earn APY is only $0.01 – 1.31% APY Cons: – Online only – Must have balance of $4,000 to avoid monthly fee – $100 minimum opening deposit

BankDirect: Money Market Account Pros: – No monthly fee – 0.50% APY Cons: – $500 minimum deposit to open – No interest earned on first $9,999.99 of collected balance

TIAA Bank: Yield Pledge Money Market Pros: – Minimum balance to earn APY is only $0.01 – No monthly fee – 1.20% APY – Highly rated mobile app Cons: – Online only – $500 minimum deposit

Sallie Mae Bank: Money Market Account Pros: – No minimum deposit – Minimum balance to earn APY is only $0.01 – No monthly fee – 1.50% APY Cons: – Online only

Discover Bank: Money Market Account Pros: – Minimum balance to earn APY is only $0.01 – No monthly fee – 60,000 fee-free ATMs Cons: – High minimum deposit of $2,500 – Online only