Money Market Account

Money market account features

Our money market rates are regularly featured as a Bankrate.com Top Tier Award* winner.

Enjoy these features with a money market account from Nationwide Bank:

• Up to six preauthorized withdrawals per monthly statement cycle, including telephone or electronic transfers, check or point-of-sale transactions. This limit does not apply to the number of withdrawals you can make at an ATM, by mail or at a Nationwide Bank branch.
• ATM access to more than 70,000 surcharge-free ATMs.
• Free online banking and mobile banking.
• FDIC insurance. Each depositor is insured to at least $250,000.
• No monthly maintenance fee with a $1,000 minimum daily balance; otherwise $8.00 monthly service fee.
• Minimum $1,000 balance to open a money market account.
• Overdraft protection link to your checking account, if desired.

Refer to our account terms and conditions for more information

*Nationwide Bank earned the Top Tier award for consistently ranking among the top 3 institutions with the highest reported annual percentage yields (APYs) in Bankrate.com’s 100 Highest Yields® for all four quarters of 2011 and 2012.

Money market rates

Use this table to find our latest money market rates.

Still deciding which account is right for you?

Learn more about the advantages of a money market account vs. savings and CD accounts with our helpful money market comparison chart.

Savings interest calculator

Use this savings calculator to help you figure out how much your money market account will pay.

Estimate your money market account interest

What you need to open a Nationwide Bank money market account

Nationwide Bank has a quick and secure online application to make it easy to open a money market account online. Before beginning your application, gather this basic information about yourself.

You must be 18 years or older to open an account.

If you are opening a money market account with another person, and this person agrees to apply jointly, you will need to have his or her ID and residence information, too.

You can use our online application to open an individual or joint account with Right of Survivorship and with up to three co-signers. You'll need to fund your account with an initial deposit that you can electronically transfer from another personal bank account or send by check.

Trust accounts are also available and can be opened by calling 1-877-I-Bank-NW (1-877-422-6569) Monday - Friday, 8 a.m. - 8 p.m. ET.

Find answers to the top money market account questions

Q. What is a money market account?
A. A money market account is an interest-bearing savings account that offers a higher-yield interest rate, allowing you to earn faster than a traditional savings account. Although it has many similar account features, like an ATM card, a money market account requires a higher opening deposit than a regular savings account.

Q. What is the minimum balance to open a money market account?
A. You must have $1,000 to open a money market account.

Q. What is the difference between money market accounts and savings accounts?
A. A Nationwide Bank money market account allows you to earn a higher interest rate and permits no more than six transfers and/or withdrawals during a statement cycle which includes preauthorized transfers or automatic transfers or by check, draft, debit card or similar order to a third party. Savings accounts have a lower interest rate and a lower balance requirement, and they do not provide the ability to write checks against your balances.

Q. Are money market savings accounts FDIC* insured?
A. Yes, money market savings accounts (not to be confused with money market mutual funds) are considered bank deposits and are insured by the FDIC. Money market deposit accounts are insured at the same limits as traditional savings or checking accounts.

*Each depositor insured to at least $250,000.