BankUnited Review: A Top Performer for Money Market Accounts

4.4

GBR RATING

GOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Impressive annual percentage yield (APY) offering with a BankUnited Money Market Account.

BankUnited offers a variety of checking, savings, certificates of deposit (CDs) and money market accounts. CDs and money market accounts offer competitive APYs.

BankUnited is a nationwide bank headquartered in Miami Lakes, Florida. As of September 2025, it held $35.1 billion in total assets, making it a large bank offering personal, business and commercial banking.

BankUnited Checking Accounts

BankUnited has three checking accounts: Value Checking, Relationship Checking and Vertical Rewards Premier Checking. All accounts require a minimum deposit and monthly maintenance fee, which can be waived. 

• Value Checking has a $50 minimum deposit and a $7 monthly maintenance fee. The fee can be waived if you maintain a monthly balance of $500, ACH credits totaling $500 are posted to the account, or you have 10 or more point-of-sale transactions. 
• You can earn interest with the Relationship and Vertical Rewards Premier Checking accounts.
• Relationship Checking has a $100 minimum deposit and a $20 monthly maintenance fee which can be waived if you meet requirements.
• Vertical Rewards Premier Checking has a $10,000 minimum deposit and a monthly maintenance fee of $20. You can waive the fee if you have a daily balance of $10,000 or more. 
• You’ll get a complimentary safety deposit box with a Relationship Checking account.

4.5

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

BankUnited Checking Accounts

Start Banking

Best For

Money Market Accounts

Mobile App

No Overdraft Fees

Low Monthly Fees

No Minimum Deposit

Flexible Checking Options With Perks

BankUnited offers three checking accounts with competitive features, though the monthly fees and balance requirements may not suit everyone.

Fees

$7 to $20, waivable

APY

up to

Min Opening

$50 to $10,000

Pros

• Variety of checking accounts
• Access to an extensive network of ATMs
• Extra perks with Premier Checking

Cons

• Monthly maintenance fees are high
• Need a fairly large balance if you want to earn interest
• Limited physical branch access 

Quick Take

BankUnited offers a variety of checking account options, but the minimum deposit requirement and monthly maintenance fee may encourage customers to consider other options.

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BankUnited Savings Accounts

BankUnited offers three savings accounts: the Value Savings Account, High Yield Savings Account and the Classic Kids Savings Account. The Value Savings Account and the High Yield Savings Account require a minimum opening deposit of $50, and the Classic Kids Savings Account requires a minimum deposit of $10. The Value Savings Account comes with a debit card. 

• Value Savings Account has a maintenance fee of $5, but it can be waived if you maintain a $300 daily balance during the account cycle. 
• Classic Kids requires no maintenance fee until the age of 18.
• The High Yield Savings Account has no monthly maintenance fee.
• Interest rates are variable and may change at any time.
• You’ll have access to over 50,000 ATMs with BankUnited.

4.6

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

BankUnited Savings Accounts

Start Banking

Best For

Money Market Accounts

Mobile App

No Overdraft Fees

Low Monthly Fees

No Minimum Deposit

Low Minimums for Easy Saving

BankUnited makes saving simple with low opening deposits and a kid-friendly account, but you might be able to find better rates and lower fees elsewhere.

Fees

$0 to $5, waivable

APY

Up to

Min Opening

$10 to $50

Pros

• Encourages kids to save
• Low minimum opening deposit 
• Monthly maintenance fees are easily waived

Cons

• Rate information isn’t fully transparent online
• Excessive transaction fees will be charged

Quick Take

BankUnited offers savings accounts with low minimums, but APY information is not readily available on the site. Competitors likely have better APYs on their savings accounts.

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BankUnited CD Accounts

BankUnited offers higher yields for short-term CD accounts than long-term. Its 6-month CD features a very competitive APY. Similarly, its 12-month CD gives account holders a APY. To open an account, you need at least $1,000. 

• Savers have many CD terms to pick from — ranging from six months to 36 months.
• You can open a new account with a $1,000 deposit.
• Currently, the APY ranges from to .
• All CD accounts are FDIC-insured.
• The interest earned is compounded daily.

3.7

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

BankUnited CD Accounts

Start Banking

Best For

Money Market Accounts

Mobile App

No Overdraft Fees

Low Monthly Fees

No Minimum Deposit

Earn More With Short-Term CDs

BankUnited’s CDs stand out with competitive short-term rates, a low $1,000 minimum deposit, and daily interest compounding, making them a smart choice for short-term savers.

Fees

No monthly service fee

APY

Up to

Min Opening

$1,000

Pros

• Varying length terms 
• Competitive short-term rates 
• Low minimum deposit

Cons

• Limited physical branches
• Early withdrawal penalties 
• Lower long-term rates

Quick Take

BankUnited offers competitive rates for short-term CDs, but longer-term CDs have significantly lower rates. The low minimum deposit and daily compounding interest make BankUnited CDs appealing.

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BankUnited Money Market Accounts

BankUnited offers a tiered money market account with a flat APY of for all balances. A deposit of $2,500 is required to open the account. The monthly maintenance fee of $15 can be waived by maintaining the minimum balance. The account includes a Visa debit card and allows free ATM withdrawals at BankUnited and Allpoint ATMs.

• You can open a new account with an opening deposit of $2,500.
• A monthly maintenance fee of $15 is charged if your minimum balance is less than $2,500.
• You can earn APY on all balances.
• You’ll gain fee-free access to BankUnited and Allpoint ATMs.

4.6

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

BankUnited Money Market Accounts

Start Banking

Best For

Money Market Accounts

Mobile App

No Overdraft Fees

Low Monthly Fees

No Minimum Deposit

APY With Unlimited Access

BankUnited’s money market account offers a standout APY, unlimited transactions and ATM access, though the $2,500 minimum deposit and monthly fee may not fit all budgets.

Fees

$15, waivable

APY

Min Opening

$2,500

Pros

• Competitive APY 
• FDIC insured
• Unlimited transactions

Cons

• High minimum deposit
• Monthly maintenance fee is high if you cannot waive it
• APY is variable

Why We Like BankUnited

BankUnited offers a money market account with a competitive APY, access to ATMs and unlimited transactions.

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Banking Experience

Overall, BankUnited offers a solid banking experience. Its user-friendly mobile app has earned a 4.8-star rating on Apple and a 4.7-star rating on Google Play.

Users praise the app’s streamlined experience for navigating, scheduling, and sending payments. At the same time, other online users have raised concerns about BankUnited’s customer service.

Customers can contact BankUnited at 877-779-2265 during the following times:

• Monday to Friday: 8 a.m. to 8 p.m. EST
• Saturday: 9 a.m. to 2 p.m. 

How Does BankUnited Compare?

If you’re looking for an alternative to BankUnited that offers high yields for money market accounts but has more attractive features overall, check out these three options.

Checking

Savings

CDs

Money Market

SELECTED BANK

4.5

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

BankUnited Checking Accounts

Start Banking

MOST COMPARABLE

4.8

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Ally Checking Account

Read Review

MOST COMPARABLE

3.6

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Comerica Bank Checking Account

Read Review

Fees

Fees

Fees

$7 to $20, waivable

$0

$0 to $22 per month

APY

APY

APY

up to

to

Up to

Min Opening

Min Opening

Min Opening

$50 to $10,000

$0

$50 to $1,000

SELECTED BANK

4.6

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

BankUnited Savings Accounts

Start Banking

MOST COMPARABLE

4.7

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Ally Bank Savings Account 

Read Review

MOST COMPARABLE

Comerica Bank Savings Account

Read Review

Fees

Fees

Fees

$0 to $5, waivable

$0

$5 monthly — can be waived

APY

APY

APY

Up to

Min Opening

Min Opening

Min Opening

$10 to $50

$0

$50

SELECTED BANK

3.7

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

BankUnited CD Accounts

Start Banking

MOST COMPARABLE

4.8

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Ally Bank CD Rates

Read Review

MOST COMPARABLE

3.0

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Comerica Bank CD Account

Read Review

Fees

Fees

Fees

No monthly service fee

No monthly service fee

Early withdrawal penalties will apply

APY

APY

APY

Up to

Up to

Up to

Min Opening

Min Opening

Min Opening

$1,000

$0

$1,000

SELECTED BANK

4.6

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

BankUnited Money Market Accounts

Start Banking

MOST COMPARABLE

4.9

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Ally Bank Money Market Accounts

Read Review

MOST COMPARABLE

3.1

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Comerica Bank Money Market Account

Read Review

Fees

Fees

Fees

$15, waivable

$0

$12 to $25

APY

APY

APY

Up to

Min Opening

Min Opening

Min Opening

$2,500

$0

$50

BankUnited vs. Ally Bank

Ally is an online-only bank. For people who don’t need to visit brick-and-mortar branches to do their banking in person, Ally’s cost-saving approach translates into higher interest rates for their customers.

Ally Bank’s money market account features a higher interest rate than BankUnited, with an APY for all balance tiers. It also allows customers to withdraw cash from ATMs. Savings-conscious users will appreciate the fact that Ally money market accounts have no monthly fees, minimum deposits or balance requirements. In addition, interest is compounded daily.

Compared to BankUnited, Ally offers higher yields on its savings accounts as well, with an APY for all balance tiers. Like its money market accounts, Ally has zero monthly maintenance fees.

With solid customer service, enthusiastic customer reviews, and a highly rated mobile app, Ally Bank is a great alternative if you’re not quite satisfied with BankUnited’s offerings.

BankUnited vs. Discover Bank®

Another online-only bank, Discover, Member FDIC, has gained a reputation for providing customers with easy access to a wide range of financial products through their virtual platforms.

Like Ally’s money market account, Discover doesn’t charge fees for monthly maintenance, insufficient funds or account closure. They also offer similar interest rates to BankUnited.

Discover offers higher yields for savings accounts with no monthly fees or minimum deposits. Highly rated for customer satisfaction and its online banking experience, Discover is another excellent alternative to BankUnited if you don’t need brick-and-mortar banking.

BankUnited vs. Comerica Bank

Comerica Bank has banking centers in Arizona, California, Florida, Michigan and Texas and over 50,000 ATMs nationwide. It has more of a presence than BankUnited but offers similar products.

Comerica offers multiple checking accounts, many of which earn interest, while BankUnited has only two interest-bearing accounts that require significant balances to earn interest. BankUnited offers straightforward account options and a money market account with a competitive APY.

BankUnited is likely a more suitable choice if you want a more regional approach.

Final Take 

BankUnited is best for customers in Florida or New York looking for high-yield money market accounts or short-term CDs. For customers outside these regions, the lack of physical locations may diminish the quality of service available to online-only users.

Since BankUnited offers low interest rates for standard checking and savings accounts, it’s not the best place to store funds you need to access regularly. However, if you’re just looking for a reliable bank to park deposits and earn interest in money market accounts or inaccessible CDs, then BankUnited could be a solid option for achieving higher-than-average returns.

Preston Hartwick contributed to the reporting for this article.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec 5, 2025. 

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

To determine the Best Money Market Accounts of 2026, GOBankingRates analyzed the following factors from all banks (excluding neobanks): (1) total assets as sourced from the FDIC; (2) number of branch locations as sourced from the FDIC; (3) minimum deposit to open an account; (4) APY on the money market account; (5) the minimum balance needed to earn the APY; (6) monthly money market fee ratio (percentage of the minimum to avoid fees compared to the monthly fee itself); and (7) the average mobile app rating between the Google Play (Android) and Apple stores. All factors were then scored and combined, with the lowest score being the best. Factors (1) and (2) were weighed 0.5 times, and factor (4) was weighed 4 times. All products and offerings had to be available as of Oct. 4, 2025, to be considered. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 5, 2025.

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