Business money market accounts (MMAs) are generally low-risk and tend to offer higher interest rates than regular savings accounts. They also provide convenience through features like check-writing and debit cards. These accounts are ideal for short-term financial goals, as they can assist small businesses in establishing an emergency fund for unexpected expenses or saving for significant purchases, such as equipment and machinery. The best business money market accounts typically offer high interest rates, low initial deposits, minimal balance requirements, and high transaction limits. Here is a list of the seven best business money market accounts. Best overall bank for business money market account: U.S. Bank Member FDIC Best digital bank for MMA with tiered APY: Prime Alliance Member FDIC Best bank for money market accounts with no opening deposit: NBKC Bank Member FDIC Best high-yield MMA bundled with business checking: Grasshopper Member FDIC Best full-service bank with high business money market rates: Truist Member FDIC Best high-yield money market and loan offerings: TAB Bank Member FDIC Best MMA with ATM surcharge rebates: First Internet Bank Member FDIC Best business money market accounts quick comparison The table below reflects the top factors I evaluated for the seven best business money market accounts. Image: U.S. Bank Our rating: 4.74 out of 5 U.S. Bank offers three types of business money market accounts, each with a minimum deposit requirement of $100. You can easily apply for the Platinum Business Money Market account online. However, to open a Preferred Business Money Market or a Premium Business Money Market account, you must schedule an appointment. One key feature that distinguishes the Platinum Business Money Market account is the additional bonus APY of 3.56% The rate is subject to change at any time without notice. which you can earn by opening a new account and maintaining a daily balance of $25,000 after your initial deposit of $25,000. Why I chose it U.S. Bank is my best overall choice for a business money market account because it offers a high bonus APY when you meet the qualifying criteria. Additionally, you can link it to your checking account for seamless fund transfers. The bank’s Silver Business Checking account is fee-free and easy to open online. You also receive a substantial welcome bonus once you fulfill specific conditions. These factors are why it ranks highly in our guide to the best small business checking accounts. Monthly fees Platinum Business Money Market account: $15, waived with a $10,000 minimum daily balance. Preferred Business Money Market account: $10, waived with a $1,000 minimum daily balance. Premium Business Money Market account: Varies by market. Features The first 25 deposit transactions are free. Three business money market options. Waivable monthly maintenance fees. Daily interest is accrued. Interest is paid monthly. Pros and cons Pros Cons High bonus APY rate. Multiple money market accounts. More interest earnings with higher balances. Steep balance requirement to waive the Platinum Business MMA monthly fee. High balance is required to earn a bonus rate. Image: NBKC Our rating: 4.10 out of 5 NBKC Bank offers a money market account with an APY of 2.75% on all balances. There is no opening deposit required, and to earn interest, you only need to maintain a minimum account balance of just 1 cent. This account structure ensures that you can earn interest on any balance, reducing the pressure to keep high amounts in the account. You can start earning interest without the need to maintain a high balance. Why I chose it Few providers allow you to open a money market account without an initial deposit, which makes NBKC’s Business Money Market account stand out. I appreciate that this feature simplifies the process of starting a savings account while offering a higher yield than traditional savings products. Additionally, NBKC is known for its zero-cost business checking account, allowing you to easily open one alongside your money market account. This way, you can transfer funds seamlessly from your savings to your checking account when you need to make additional payments. Monthly fees NBKC Business Money Market: None. Features A solid APY rate is applied to all balances. No account opening deposit. 1 cent minimum account balance required to earn interest. Four branches located in Kansas and Missouri. Pros and cons Pros Cons Uniform APY rate. No initial deposit requirement. Kansas and Missouri-based users can access in-person banking. Limited branches. Lower APY rate than other providers. Grasshopper: Best high-yield MMA bundled with business checking Image: Grasshopper Our rating: 4.04 out of 5 Grasshopper is a digital bank that offers two types of money market accounts: the Innovator Money Market Savings and the Accelerator Money Market Savings. Both require a minimum deposit of $100. The APY rates are tiered, starting at balances of $25,000 for the Innovator account and $50,000 for the Accelerator account. The Innovator products are designed for small and mid-sized enterprises, while the Accelerator products cater to startups and venture capital firms. Why I chose it I chose to include Grasshopper’s money market accounts because they are an excellent addition to this list. Bundling a money market account with your business checking account boosts your APY earnings to 3.30% (Innovator) or 3.55% (Accelerator). Having both products benefits users because they can earn solid interest while keeping their funds accessible for everyday transactions. In our roundup of the best free business checking accounts, Grasshopper stands out for its interest-earning checking accounts, which is rare among business checking products. Additionally, users can earn unlimited cash back rewards when using their debit cards. Monthly fees Grasshopper Innovator Money Market Account: None. Grasshopper Accelerator Money Market Account: None. Features Online account opening. $100 initial deposit. Maintaining balances required to earn APY. A checking account is required to open an MMA. Pros and cons Pros Cons No monthly fee. High APY rates. No transaction fees. No physical locations. $100 opening deposit. No cash deposit option. Truist: Best full-service bank with high business money market rates Image: Truist Our rating: 3.94 out of 5 The Truist