M&T Bank Money Market Account: Everything You Need To Know

Money market accounts can be a useful way to earn interest while keeping your savings accessible. If you bank with M&T Bank, you may be wondering whether a M&T Bank money market account is available and how it fits into the bank’s savings options. This guide breaks down what M&T offers and how to make the most of your cash.

Does M&T Bank Offer a Money Market Account?

M&T Bank doesn’t offer a money market account for personal purposes, but it does have a Commercial Money Market Savings account. This account is targeted toward businesses, nonprofits and firms that carry large cash balances. So, if you don’t plan to keep a large amount in your account, this might not be the right fit for you.

Here are some details to keep in mind:

If you are looking for a personal interest-bearing account, M&T Bank offers three different levels of savings accounts, as well as certificates of deposit (CDs) that range in interest rate and features, depending on your ZIP code.

What Is M&T Bank’s Best CD Rate?

M&T Bank CD rates go up to . Keep in mind that rates vary based on region and if you have a qualifying M&T Bank checking account. You’ll also need a minimum deposit of $1,000 to open an account.

How To Open an M&T Bank Money Market Account

To open this money market account, you should visit an M&T Bank branch and speak with a Relationship Manager. However, you can learn more about the account and schedule an appointment by following the steps below.

1. Visit M&T Bank’s website and click on “Business.”
2. Click on “Business Savings.”
3. On “Commercial Money Market Savings Account,” click on “Learn More.”
4. A button to “Schedule an Appointment” should be available toward the top of the page, where you can schedule time with the Relationship Manager when you visit the branch.

Which Other Financial Institutions Have Money Market Accounts?

If M&T Bank’s Commercial Money Market Savings account is not right for you, and you don’t want to tie up your money in a CD for any length of time, don’t worry. Many other financial institutions offer money market accounts that might suit your needs.

UFB Direct Secure Money Market Account

• UFB Direct’s Portfolio Money Market account offers a APY on all balances, no matter what the amount.
• To avoid the $10 monthly maintenance fee, you’ll have to keep a balance of at least $5,000.
• You can access your money 24/7 using online banking tools.
• With a valid ID and Social Security number (SSN), U.S. citizens and resident aliens can set up an account in 15 minutes.

Vio Bank Cornerstone Money Market Savings Account

• Vio Bank’s Cornerstone Money Market account has a minimum deposit requirement of only $100.
• Savers can earn APY on all balances.
• There is no monthly fee if you opt out of paper statements, otherwise it’s $5 per month.
• With a driver’s license, SSN and mailing address, the bank says opening an account is a five-minute online process.

CFG Bank MTBS Money Market Account

• CFG Bank’s Personal Money Market account offers APY.
• You can open an account with just $1,000.
• There is $10 monthly fee that can be waived with a minimum daily balance of $1,000.

Brilliant Bank Surge Money Market Account

• Brilliant’s Surge Money Market account has a low minimum opening deposit amount of just $1,000.
• This account offers a high yield of APY.
• After opening, there is a minimum required balance of $1,000.
• Account holders can access their funds through Brilliant’s mobile banking app.

Sallie Mae Money Market Account

• Sallie Mae‘s Money Market account offers a APY.
• There is no minimum balance needed and no monthly maintenance fees.
• You also have the ability to write checks from the account and enjoy free transfers.

Ally Bank Money Market Account

• Ally Bank’s Money Market account has no minimum balance requirements and no monthly maintenance or overdraft fees.
• This account pays savers APY.
• You’ll gain access to 43,000 Allpoint ATMs across the nation and Ally will refund up to $10 in out-of-network ATM fees per statement cycle.

Is a Money Market Account Right for You?

Choosing a money market account is not all about the interest rate — there are many variables to consider. Some have high minimum balance requirements to avoid fees. Some only allow a certain number of transactions per month before charging per transaction. Is check writing important to you? Not all have that.

Here are a few things to consider before opening a money market account:

• The interest rate offered
• The required minimum opening deposit
• The required minimum balance to avoid fees
• Monthly service fees
• Account access, such as check writing, bill pay or ATM cards
• Withdrawal limits and fees
• FDIC or NCUA insurance

Is a High-Yield Savings Account a Better Fit for You?

If you don’t require the added features that come with many money market accounts, such as check writing or debit cards, you might consider a high-yield savings account. Here are a few top options:

Takeaway

You have many options when it comes to maximizing the returns on your money through money market accounts. Keep in mind, the choice between accounts shouldn’t hinge on just one variable. Many savers find that a slight reduction in interest rate in the name of access to their money or convenience is worth it, and vice versa. Just make sure you research your options thoroughly.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Feb. 3, 2026.

Rates may vary by region. To verify rates in your area, check the issuer’s website for details.

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