Account benefits

Get more bang for your buck.

With our Elite Money Market Account, you’ll enjoy all the benefits of a traditional checking account, but with tiered interest rates that may pay more for higher balances than a standard savings account. Plus, you can access your funds at any time unlike with certificates of deposit (CDs) that require your money to be untouched for a set timeframe.
 

Additional benefits include:

Confidence and security

Get the added protection of the Federal Deposit Insurance Corporation (FDIC). Your Elite Money Market Account at U.S. Bank is FDIC-insured to the maximum amount allowed by the FDIC. The standard insurance amount is $250,000 per depositor, for each deposit insurance ownership category.2

Easy access to funds

Tap into your account whenever you need it by using an ATM card, debit card or check, transferring money or accessing one of the largest ATM networks in America.

Award-winning digital tools

U.S. Bank was ranked #1 overall in mobile banking, including #1 for our mobile app.3 With the U.S. Bank Mobile App, you can manage cash easily, move money safely and save and spend wisely.

Get the app

Rates

Explore today’s competitive money market rates.

5 digits

The Annual Percentage Yield (APY), which is the effective annual rate of return including the effect of compounding interest, and the money market interest rates listed below are effective as of for ZIP code .

These rates and APYs are valid on new Elite Money Market Accounts and existing accounts that have been open for less than 30 days. If you have an existing Elite Money Market Account that has been open for 30 days or more, log in and select products and offers to see your personalized rates.

Elite money market account

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Balance

APY

Interest rate

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Already have a U.S. Bank Elite Money Market Account?

Log in and select products and offers to view your personalized rates.

Get started

Put your savings to work in three simple steps.

Opening an account typically takes less than five minutes.

Open an account.

Get started by answering a few quick questions about yourself. You can apply via our mobile app, online banking or in person at any of our 2,100 branches.

Fund your account.

Deposit up to $250,000 during the application process with a minimum opening deposit of $100.1 You can fund up to $250,000 with an internal or external transfer, or up to $250 with a debit or credit card.

Be sure to have your login credentials handy if you’re planning to transfer funds from an external account. Electronic deposits made after account opening may have deposit limits and could require multiple deposits to reach your desired balance.

Maximize your earnings.

Boost your savings with tiered interest rates that may pay more for higher balances.

 

Start saving

Account features

Take advantage of even more benefits.

Our Elite Money Market Account gives you the interest-earning power of a savings account, plus the features and benefits of a checking account, like:

No maintenance fees

Save on maintenance fees when you open a U.S. Bank Smartly® Checking account and enroll in the Smart Rewards® Primary tier or above or maintain a $10,000 minimum daily balance.4

Overdraft protection

Avoid the inconvenience of an unexpected shortage of funds by linking your account to a U.S. Bank Smartly® Checking account. See Your Deposit Account Agreement for a full list of options.

Mobile and online banking

Enjoy industry-leading, secure digital banking tools and services that allow you to bank how, when and where you want.

Custom account alerts

Get text or email reminders about transfers, low balances and other important account activity.5

E-statements

Access statements through mobile and online banking anytime, free of charge.

Extensive ATM network

Save on ATM transaction fees at U.S. Bank ATMs and gain access to one of the largest branch and ATM networks in America.6

Resources

Explore helpful savings education.

What’s in your emergency fund?

Read more

How to save for a wedding

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Savings account interest rates: Myths vs. facts

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How to build wealth at any age

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Make your accounts work harder for you

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How to save for a house

Read more

Get answers to common questions about money market accounts.

A money market account (also known as a money market deposit account or money market savings account) is a mix between a checking and savings account. It has features from both types of accounts, offering the debit card and check-writing privileges of a checking account with the interest-bearing nature of a savings account.

Open a money market account to start growing your savings.

With a money market account, you earn interest on the money deposited into the account, just like how a savings account works. When opening the account, a minimum deposit is typically required, and a fee may be charged if the balance falls below a certain threshold. 

Most money market accounts have a variable interest rate, that fluctuates over time as market conditions change. It’s also common for these accounts to have tiered rates, meaning higher balances are rewarded with a higher APY.

Yes. As with other deposit accounts, the FDIC insures money market accounts up to $250,000 per depositor, per insured bank, for each account ownership category.

Yes, money market accounts allow you to safely store your funds while earning interest. The money in the account is FDIC-insured for up to $250,000 per depositor, per insured bank, for each account ownership category.

Money market accounts give you access to your money, whenever you need it, and a variable interest rate. CDs require you to leave your money untouched for an agreed upon time, known as the term length, and usually have a fixed rate.

Ready to grow your savings with a money market account? Get started by opening an account.

Fund your account up to $250,000 with an internal or external transfer, or up to $250 with a debit or credit card. You can deposit up to $250,000 during the application process with a minimum opening deposit of $100.1 Be sure your login credentials are easily accessible if you’re planning to transfer funds from an external account.

Electronic deposits made after account opening may have deposit limits and could require multiple deposits to reach your desired balance.

Take the next step

Start saving
Call 800-944-7177
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Disclosures

  1. How to obtain the rate: This rate is valid on new accounts for clients who do not have an existing consumer money market account or for clients with an existing consumer money market account that has been open for less than 30 days. This rate is not valid for clients with a consumer money market account closed within the last 30 days. Get the Annual Percentage Yield (APY) as noted above by depositing at least $50,000 within 30 days of account opening. A minimum opening deposit of $100 is required to open. If you do not deposit $50,000 within 30 days, the standard interest rate will be applied.

    How to maintain the rate: Deposit at least $50,000 within 30 days of account opening and maintain a minimum daily balance of at least $50,000 each day thereafter. If the account balance falls below $50,000 the standard interest rate will be applied until the account balance is at or above $50,000 again. The interest rates and APYs are determined at the bank’s discretion, and can change at any time, including after the account is opened. Fees will reduce your eligible balance, and deposits are needed to cover these fees to maintain the daily balance for this rate offer.

    The standard interest rate balance tiers and APYs are accurate as of today's date: Under $10,000: 0.01%; $10,000 to $24,999.99: 0.01%; $25,000 to $49,999.99: 0.25%; $50,000 to $99,999.99: 0.25%; $100,000 to $499,999.99: 0.25%; $500,000 and above: 0.25%.

    Interest Information: You must maintain the minimum daily balance needed for each tier in order to earn the Annual Percentage Yield (APY) disclosed. Interest will be compounded daily and credited to your account monthly. We use the daily balance method to calculate interest on all deposit accounts. This method applies a daily periodic rate to the principal in the account each day. Interest on your check deposit begins to accrue on the business day we receive credit for this account. If you close your account before interest is credited you will not receive the accrued interest. Fees could reduce earnings on the account. Other restrictions may apply.

  2. FDIC insured to the maximum allowed by law.

  3. Digital financial services benchmarking firm Keynova Group ranked U.S. Bank #1 for mobile banking apps in its Q3 2023 Mobile Banker Scorecard.

  4. The daily balance is the balance at the end of each business day, equal to the beginning balance for that day plus the current business day credits, minus the current business day debits. Business days are Monday through Friday; federal holidays are not included.

  5. Text messaging fees – For text alerts, standard messaging charges apply through your mobile carrier and message frequency depends on account settings. Check with your carrier for specific fees and charges. Please be advised that the alerts may not be sent immediately.

  6. ATM Transaction Fee. U.S. Bank will assess this fee for each ATM Transaction conducted at the Non-U.S. Bank ATM. Non-U.S. Bank ATMs are defined as any ATM that does not display the U.S. Bank logo in any manner, physically on the ATM or digitally on the screen.

    ATM Surcharge. Non-U.S. Bank ATM owners may apply a surcharge fee on ATM transactions at their ATMs. U.S. Bank participates in MoneyPass®, an ATM surcharge free network. To find MoneyPass ATM locations, select “visit the MoneyPass locator” at the bottom of our ATM locator search results to be taken to the MoneyPass website. If you use an ATM that uses the MoneyPass® Network and are charged a surcharge fee, please call us at 800-USBANKS (872-2657) for a refund of the surcharge fee. However, a Non-U.S. Bank ATM Transaction Fee may be assessed on transactions at a MoneyPass ATM.

    Please refer to the Consumer Pricing Information (PDF) disclosure section titled Miscellaneous Checking, Savings or Money Market Fees for a summary of ATM transaction fees.

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Deposit products are offered by U.S. Bank National Association. Member FDIC.