Chase offers money market accounts through its Chase Bank division

Chase Bank does offer money market accounts, though the product name and features shift depending on which Chase subsidiary you use and what state you live in. The main option is the Chase Money Market Account, available through Chase Bank, USA, N.A. in most states. It functions as a hybrid between a savings account and a checking account — you earn interest on your balance, but you can write checks and make transfers, with some limits on how many times per month you can withdraw.

Chase also owns other banking brands that offer money market products under different names. If you bank through Chase Private Client or have a large balance, you may see different account structures or rates. The specifics depend on your state, your account history with Chase, and the current product lineup — Chase updates these offerings periodically.

Key Takeaways

  • Chase Money Market Accounts earn interest and let you write checks and make transfers, but come with limits on how many withdrawals you can make per month.
  • The interest rate Chase pays varies by how much money you keep in the account, and rates change based on what the Federal Reserve does.
  • You can open a Chase money market account online, by phone, or in a branch, and you will need an initial deposit to start.
  • Chase money market accounts are insured by the FDIC up to $250,000, so your money is protected if Chase fails.

How Chase money market accounts earn interest

Chase pays interest on money market accounts based on the balance you hold. The more money you keep in the account, the higher the interest rate you receive — this is called a tiered rate structure. Chase publishes its current rates on its website, but the rate you actually get depends on which tier your balance falls into. Rates change when the Federal Reserve raises or lowers its benchmark interest rate, which happens several times a year.

Interest compounds daily, meaning Chase calculates interest on your balance each day and adds it to your account. The interest is credited to your account monthly. Unlike a regular savings account, you do not have to do anything to earn the interest — it accrues automatically as long as your money sits in the account.

Withdrawal limits and how they work

Chase money market accounts come with a limit on how many times per month you can withdraw money. The exact limit depends on the specific account product, but it is typically six withdrawals per month. This includes transfers to other accounts, checks you write, and debit card withdrawals — they all count toward the same limit.

If you exceed the limit in a month, Chase may charge a fee or convert your account to a different type of account. Some customers find this restriction frustrating if they need to move money frequently. If you need unlimited withdrawals, a regular Chase checking account is a better fit, though it typically pays little or no interest.

Minimum deposit and account opening

Chase requires an initial deposit to open a money market account. The minimum amount varies by state and by the specific product, but it is typically between $2,500 and $25,000. You can find the exact minimum for your state on Chase's website or by calling a branch.

You can open an account online through Chase.com, by phone, or in person at a Chase branch. If you open online, you will need to verify your identity and provide your Social Security number. The account usually opens within one business day, though it may take longer if you need to mail in documents or if you are opening it in a branch.

FDIC insurance and account safety

Chase money market accounts are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per account holder per bank. This means if Chase fails, the FDIC will reimburse you for up to $250,000 in that account. If you have multiple accounts at Chase — such as a checking account and a money market account — the insurance limit applies separately to each account type.

If you have more than $250,000 to deposit, you can open multiple accounts in different names or at different banks to keep all your money insured. Chase can explain the different ways to structure accounts for full FDIC coverage if you have a large balance.

Comparing Chase money market accounts to other Chase products

Chase offers several savings and deposit products, and a money market account sits between a savings account and a checking account in terms of features and interest rates. A regular Chase savings account earns interest but has the same withdrawal limits as a money market account and typically pays a lower rate. A Chase checking account offers unlimited transactions and check-writing but usually pays no interest or very little.

If you want to earn interest without withdrawal limits, a Chase savings account or money market account may not be the right fit — you would need to look at other products like CDs (certificates of deposit), which lock your money away for a set period but pay higher rates. Chase offers CDs as well, and a banker can help you decide which product matches what you need to do with your money.

How to find current rates and terms

Chase publishes its current money market account rates on Chase.com under the Savings & Money Market section. The rates shown are the ones you will receive based on your balance tier. You can also call a Chase customer service representative at the number on the back of your Chase card, or visit a branch in person to ask about current rates and terms.

Rates change frequently, so the rate you see today may not be the rate you get if you open an account next week. Chase will tell you the exact rate you may have access to for before you complete the account opening, so you know what you are getting.

Frequently Asked Questions

Can I write checks on a Chase money market account?

Yes, most Chase money market accounts come with check-writing privileges. However, checks count toward your monthly withdrawal limit, so if you write six checks in a month, you have used up your allowed withdrawals. Some money market accounts also come with a debit card for easier access.

What happens if I go below the minimum balance?

If your balance drops below the minimum required for your account, Chase may charge a monthly fee or close the account. The exact consequence depends on your specific account terms. You can check your account agreement or call Chase to find out what happens if your balance falls short.

Can I move money from my Chase checking account to my money market account?

Yes, you can transfer money between your Chase accounts online, by phone, or at a branch. Transfers between your own accounts at Chase do not count toward your monthly withdrawal limit on the money market account, so you can move money freely without hitting the six-withdrawal cap.

Is the interest rate may provide to stay the same?

No, Chase can change the interest rate on your money market account at any time. The rate is not locked in. Chase will notify you before making a change, and you can close the account if you do not like the new rate, though you will need to move your money elsewhere.

What is the difference between a money market account and a money market fund?

A money market account is a bank deposit product insured by the FDIC. A money market fund is an investment product that is not insured and carries risk. Chase offers both, but they are different products with different protections. Make sure you understand which one you are opening.