Finding the best business money market account (MMA) rates in 2025 can be challenging with so many options available. This guide breaks down the top accounts offering competitive interest rates, low fees, and valuable perks, helping you choose the best fit for your business. Whether you’re looking to maximize earnings, maintain liquidity, or minimize costs, this article simplifies the decision-making process so you can make the most of your business savings.
Here are my choices for accounts with the best business money market account rates currently available:
- U.S. Bank
Deposit products are offered by U.S. Bank National Association, Member FDIC.
: Best overall for business owners able to maintain a balance of $25,000. - Grasshopper Bank
Grasshopper Bank, N.A., Member FDIC.
: Best for businesses looking for a free money market account. - Axos:
Axos Bank, Member FDIC.
: Best for startups and small businesses able to bank fully online - First Internet Bank
First Internet Bank of Indiana, Member FDIC.
: Best for businesses looking for a money market with a low opening deposit - Truist
Truist Bank, Member FDIC
: Best for businesses wanting to make payments directly from their money market - nbkc bank
nbkc, Member FDIC.
: Best for businesses looking for a money market with no balance requirements or fees
Best business money market rates at-a-glance
U.S. Bank: Best overall for business owners able to maintain a balance of $25,000
What We Like
- Check writing capabilities
- Special Promo APY 4.08%
- Low opening deposit
Drawbacks
- High balance required for special rate
- Promo rate subject to change at any time
- High balance required to waive monthly maintenance fee
Features
- Tiered interest earning with higher rates on larger balances
- Up to 25 deposits at no charge
- Access through online and mobile banking
- ATM access
- Free paper and electronic statements
Why I chose U.S. Bank Platinum Business Money Market
I chose the U.S. Bank Platinum Business Money Market account because it offers a competitive balance of high interest potential, accessibility, and a low opening deposit, making it an excellent choice for businesses looking to grow their cash reserves. Additionally, the ability to waive the $15 monthly fee with a $10,000 minimum balance makes it a practical option for businesses that maintain a healthy cash flow.
The promotional 4.08% APY on qualifying balances provides a great opportunity to earn more on idle funds, while the check-writing capabilities, online banking, and ATM access ensure flexibility when managing day-to-day finances.
When to choose an alternative
While the U.S. Bank Platinum Business Money Market Account offers strong benefits, it may not be the best fit for every business. If your company struggles to maintain the $10,000 minimum balance to waive the monthly fee or needs to make frequent deposit transactions beyond the 25 included per statement cycle, a different account with lower fees and fewer restrictions may be a better option.
Grasshopper Bank: Best for businesses looking for a free money market account
What We Like
- FDIC insurance up to $3 million
- APY higher than competitors at 3.55%
- No monthly fees
Drawbacks
- $25,000 minimum to earn higher APY
- Check writing not available
- No debit card access
Features
- Unlimited transactions
- Low opening deposit
- Integrates with QuickBooks, Autobooks, and Xero
- Online account opening
- Fee-free transactions
- Enhanced digital security
- Phone, chat, and email support
Why I chose the Innovator Money Market Savings account
I chose the Innovator Money Market Savings account from Grasshopper Bank because it offers a combination of high interest rates and withdrawal flexibility, making it an ideal choice for businesses looking to invest excess cash.
The account’s 3.55% APY on balances over $25,000 allows business owners to grow cash reserves while maintaining access to funds, thanks to unlimited free transactions and no monthly maintenance fees.
When to choose an alternative
Although the Innovator Money Market Savings account offers competitive interest rates and easy access to funds, it may not be the ideal choice for businesses that can’t maintain the $25,000 minimum balance to earn the highest APY. Also, the lack of physical branch access, check writing, and ATM access may feel too restrictive for some business owners.
Axos: Best for startups and small businesses able to bank fully online
What We Like
- Free online and mobile banking
- Debit card issued
- Check writing capabilities
Drawbacks
- Must maintain $5,000 to avoid fee
- No physical branches
- Low APY compared to competitors
Features
- Unlimited transactions
- Cash deposits accepted
- No minimum balance requirement to earn interest
- Flexible access to funds
- Specialized business banking support available
- Seamless QuickBooks integration
Why I chose the Axos Business Money Market
I chose the Axos Business Money Market account because you can grow your business funds while still having the flexibility to access cash when needed through check-writing privileges and a Visa® Debit Card. The fact that there are no monthly maintenance fees — as long as you maintain a $5,000 balance — makes it a cost-effective choice.
I also appreciate the unlimited transactions, which helps keep operational costs low. As a digital-first business, Axos’s 24/7 online banking and seamless QuickBooks integration make managing finances simple and efficient. While it may not have physical branches, the convenience and features of this account work well for most businesses.
When to choose an alternative
While the Axos Business Money Market Account offers solid benefits, it may not be the right fit for every business. If you need frequent cash withdrawals, a higher interest rate, or in-person customer service, you might be better off choosing a different money market option.
First Internet Bank: Best for businesses looking for a money market with a low opening deposit
What We Like
- High interest rates
- Low opening deposit
- Waivable monthly fee
Drawbacks
- Debit card access only for sole proprietors
- No physical locations
- Withdrawals limited to six
Features
- Low balances still earn 3.46% APY
- Account management is fully online-based
- Free transfers between linked accounts
- Digital deposit capabilities
- Tiered rate structure rewards accounts over $5 million
- 24/7 customer support
Why I chose the First Internet Bank Money Market Savings
I like the First Internet Bank’s Money Market Savings account primarily for its combination of a low opening deposit and competitive yields without the overhead of traditional banking.
The account offers check-writing capabilities for occasional transactions, a minimal fee structure, and free transactions between linked accounts. This makes it an ideal solution for businesses seeking to optimize idle cash without sacrificing accessibility.
When to choose an alternative
Businesses seeking the absolute highest yields might prefer opening a money market with U.S. Bank, which currently has a promo of 4.08% APY on balances above $25,000. This account is also not suitable for a business needing to make more than the government-mandated six withdrawals per month. If more withdrawals are needed, a checking account would be a better option.
Truist: Best for businesses wanting to make payments directly from their money market
What We Like
- High APY on new accounts
- Waivable monthly fee
- Check writing capabilities
Drawbacks
- Introductory interest rate subject to change at any time
- Business must be located in the Truist banking footprint
Businesses must be located in Alabama, Arkansas, Florida, Georgia, Indiana, Kentucky, Maryland, Mississippi, North Carolina, New Jersey, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia and Washington DC. - Low rates for existing customers
Features
- Deposit up to 10 items and $5,000 per month at no charge
- Perks for pairing a money market with additional accounts
- Make payments directly from your money market account
- Low opening deposit of $100
Why I chose Truist Business Money Market
There are a few outstanding reasons I chose the Truist Business Money Market. This account gives you the ability to make payments directly from the account, the introductory APY is high, and you also have access to in-person banking if needed. For those who value financial stability, relationship banking, and the ability to earn interest on idle funds, Truist provides a reliable and convenient solution.
When to choose an alternative
A business owner should consider an alternative to the Truist Business Money Market account if they prioritize consistently high interest rates, as Truist’s rates may drop significantly after promotional periods or if large deposits are made. Additionally, businesses that need more than six withdrawals per month without incurring fees or those seeking an account with no minimum balance requirements might find better options elsewhere.
nbkc bank: Best for businesses looking for a money market with no balance requirements or fees
What We Like
- Earn interest with a balance as low as $0.01
- Accounts are not restricted to Kansas City. Open to U.S.-based businesses
- Unlimited transactions
Drawbacks
- Physical branches primarily in Kansas City
- High international wire fees
- No cash deposits outside of Kansas City
Features
- $0 required to open account
- $0 minimum balance
- $0 overdrafts or NSFs
- $0 online banking
- $0 Bill pay
- $0 transaction fees
- $0 eStatements
- $0 stop payments
- $0 incoming domestic wires
Why I chose
The nbkc Business Money Market Account is an excellent choice for businesses looking for a cost-effective, flexible banking solution. With no minimum opening deposit and no monthly maintenance fees, it offers a low-cost entry point for businesses of all sizes.
Additionally, with unlimited monthly transactions, businesses can manage their finances without worrying about transaction limits or fees, making it an ideal choice for businesses that value simplicity and cost efficiency in their banking.
When to choose an alternative
nbkc primarily operates in Kansas City. Businesses needing in-person customer support or running a cash-heavy business living outside of the bank’s footprint may find better options available in their local area. Also, a business that needs to send regular international wires may be able to find lower fees by price comparing at different banks.
How to choose a money market account for your business
Choosing the best business money market account depends on your company’s financial needs, transaction habits, and growth goals. Here are key factors to consider:
- Interest rates (APY): Look for a competitive rate that maximizes earnings, but check if the rate is introductory or long-term.
- Fees and minimum balance requirements: Ensure the account has low or no monthly maintenance fees and a manageable minimum balance to avoid penalties.
- Transaction limits and accessibility: Some accounts limit withdrawals per month, so businesses needing frequent access to funds should choose an account with higher transaction allowances.
- Online and mobile banking: If your business operates remotely, a user-friendly digital platform with features like mobile check deposit and bill pay is essential.
- Branch and ATM access: Businesses handling cash deposits should look for banks with physical locations or ATM networks that support deposits.
- Additional perks: Some banks offer relationship benefits, fee waivers, or special promotions that can add value when bundled with other business accounts.
By evaluating these factors, businesses can choose a business money market account that balances growth, accessibility, and cost-effectiveness while aligning with their financial management strategy.
Pros and cons of money market accounts
When choosing how to manage their funds, business owners often consider a money market account since it allows constant access to cash. These accounts offer a mix of high-yield savings benefits and checking account flexibility, making them a popular choice for businesses looking to grow their reserves while keeping funds accessible.
However, like any financial product, business money market accounts come with advantages and potential drawbacks. Understanding the pros and cons can help businesses determine whether this type of account aligns with their financial strategy and operational needs.
Alternatives to business money market accounts
A business money market account is ideal for companies wanting to grow their funds while maintaining access to cash, but businesses with high transaction volumes or frequent cash deposit needs may want to consider alternatives. If a business money market account doesn’t fit your needs, consider these alternative ways to earn interest for your business:
- Business savings account: Offers a lower APY than a money market account but may have fewer restrictions on withdrawals and lower minimum balance requirements. Check out our recommendations for the best business savings accounts.
- Business checking account: Provides unlimited transactions and easy access to funds, making it ideal for businesses with frequent cash flow needs. For options, read our guide to the best business checking accounts.
- High-yield business savings account: Similar to a traditional savings account but with higher interest rates, often offered by online banks. Read our comparison of high-yield savings accounts and money market accounts for more in-depth insights.
- Certificates of Deposit (CDs): A good choice for businesses that don’t need immediate access to funds, as they offer fixed interest rates over a set term.
- Business investment accounts: Some businesses opt for brokerage accounts, stocks, mutual funds, or ETFs to potentially earn higher returns than traditional banking products.
- Sweep accounts: Automatically moves excess funds into higher-interest accounts or investments, ensuring cash reserves are always optimized.
Methodology
To determine the best business money market accounts, I evaluated key factors that matter most to businesses, including APY, fees, branch and ATM access, and additional perks. A competitive APY helps businesses maximize returns, while low fees and manageable balance requirements prevent unnecessary costs. I also assessed transaction flexibility, ensuring businesses can access funds when needed.
Digital banking capabilities and in-person service options were considered based on different business preferences. However, this evaluation has limitations — interest rates fluctuate, bank policies change, and the best account depends on individual business needs. Additionally, some banks have regional restrictions that may limit availability. Despite these factors, this analysis aims to help businesses select a money market account that aligns with their financial goals and operational requirements.
Frequently asked questions (FAQs)
The top options for a business money market include U.S. Bank, Axos, Grasshopper, and First Internet Bank due to their high APYs, low fees, and flexible access to funds. Businesses should consider factors like interest rates, transaction limits, and digital banking features to find the account that best suits their financial goals.
U.S. Bank has the best rate at 4.08% for balances over $25,000. Other banks have good rates but require a much higher balance to earn interest. For a business looking for a higher rate on lower deposits, U.S. Bank is a good choice.
Corporate bonds, stocks, mutual funds, and treasury bills can provide higher earning potential but come with increased risk and may require a longer-term commitment. Currently, business money markets do not offer rates over 5%.
Bottom line
A money market account may be a good choice for your business if you’re looking for an interest-earning option for your idle cash. This will keep your cash available for withdrawal without incurring penalties or fees for accessing your funds. Keep in mind, money market accounts must follow the government-mandated transaction limit of six withdrawals, with additional transactions triggering a fee. In general, a business money market is a low-risk option that’s a good fit for many businesses.