Business money market accounts (MMAs) offer a secure and convenient way for companies to manage short-term funds. These accounts typically provide higher interest rates compared to regular savings accounts, along with features like check-writing and debit card access. The best MMAs combine competitive yields with low initial deposits and minimal balance requirements, making them ideal for small businesses aiming to build an emergency fund or save for significant purchases. In this guide, we explore the top seven business MMAs, evaluating their key features and benefits.

Selecting the Best Overall Business MMA

The selection of the best overall business money market account hinges on factors such as interest rates, ease of use, and additional services. U.S. Bank stands out in this category, offering multiple types of MMAs with attractive bonus APYs and flexible opening options. This bank excels by providing high yield opportunities and seamless integration with other financial products, enhancing overall convenience for business owners.

U.S. Bank offers three distinct business money market accounts, each tailored to different needs. The Platinum Business Money Market account, accessible online, boasts an impressive bonus APY of 3.56% when maintaining a daily balance of $25,000 after an initial deposit of the same amount. This account also waives its $15 monthly fee with a minimum daily balance of $10,000. For those preferring in-person interactions, the Preferred and Premium accounts require scheduled appointments but come with similar perks. Additionally, U.S. Bank’s Silver Business Checking account is fee-free and can be easily linked to your MMA for effortless fund transfers. The combination of high interest rates, reasonable fees, and comprehensive service offerings makes U.S. Bank a standout choice.

Evaluating Specialized Features and Benefits

When choosing a business money market account, specialized features can significantly impact your decision. Some banks excel in digital capabilities, while others prioritize flexibility in deposit requirements or bundling services. Evaluating these unique aspects helps identify the best fit for specific business needs.

NBKC Bank, for instance, shines by requiring no initial deposit and only a 1-cent minimum balance to start earning interest. This feature makes it particularly appealing for startups or businesses looking to minimize upfront costs. NBKC also offers a zero-cost business checking account, facilitating easy fund transfers between accounts. On the other hand, Grasshopper’s Innovator and Accelerator Money Market Savings accounts cater to small and mid-sized enterprises as well as startups, respectively. Bundling these accounts with a business checking account boosts APY earnings to 3.30% and 3.55%, providing both high returns and accessibility. Truist Bank stands out for its promotional rates up to 4.0% for eligible businesses in certain states, alongside robust full-service banking options. TAB Bank offers competitive rates with minimal opening deposits and a focus on lending products, while First Internet Bank provides ATM surcharge rebates and competitive interest rates, benefiting sole proprietors. Each of these institutions brings unique advantages, ensuring that businesses can find an MMA that aligns perfectly with their financial strategies.