Most money market accounts offer check writing, but there may be some limitations.
Money market accounts (MMAs) act as a hybrid between savings and checking accounts. Similar to a high-yield savings account, MMAs often earn a competitive interest rate. But they also come with some features that make it easier to access your money – like writing a check.
While the money market test may be convenient, there may be limits to how much you can spend each month. Learn more about writing checks on a money market account.
Money market accounts may have withdrawal limits
Money market accounts offer more flexibility than traditional savings accounts, but there may be withdrawal limits that you need to be aware of.
In 2020, the Fed stopped using Regulation D, which limited the number of easy withdrawals from savings accounts, including money market accounts, to six per month. Easy purchases include those by phone, online transfer, check, or debit card.
Even though the Fed no longer implements Regulation D, many banks still impose withdrawal limits on savings accounts, including MMAs. Some banks, such as Citizens Bank, maintain a limit of six transactions, while others set their own. For example, Ally Bank limits eligible withdrawals from money market accounts to 10 per month.
If you exceed your bank’s limit, you may be charged an excess transaction fee, which typically ranges from $2 to $15. And if withdrawals cause your account to fall below the minimum required account balance, you may have to pay a monthly maintenance fee.
Writing a check with a money market account versus a checking account
If you’re considering using a money market account to write checks, you might want to weigh an MMA against a regular checking account. Both generally offer check writing capabilities, but each has its own unique features and limitations.
Restrictions on withdrawal
As mentioned, banks often restrict certain types of withdrawals from money market accounts – including those by check. On the other hand, checking accounts are classified as “business accounts,” which means that banks generally do not place restrictions on their withdrawals or transfers. If you write a lot of checks, you may be better off with a checking account.
Interest income
When checking accounts are more accessible, MMAs usually offer higher yields. This means that you will usually earn more interest on the balance in your MMA compared to what you earn on your checking account. If getting the most out of your money is a priority for you, a money market account may be the way to go.
Read more: 8 best places to keep your money in 2026
Minimum balance requirements
Finally, you should consider the account minimum. MMAs tend to set lower balance requirements compared to checking accounts — sometimes as high as $2,500 or more.
Some banks charge monthly maintenance fees if your account falls below a specified minimum. Some may pay interest only if you maintain a minimum balance requirement.
If you plan to write checks to your MMA, remember that your withdrawal does not drop your balance below your bank’s limit. And if maintaining a high balance doesn’t make sense to you, consider using a checking account instead.
Read more: What is the minimum balance for a money market account?
How to use a money market account wisely
You don’t have to choose between a money market account and a checking account. In fact, pairing the two can give you the best of both worlds.
Here’s how you can use both accounts to manage your daily finances:
While you use a checking account for most of your day-to-day activities, you can use MMA for short-term savings goals. This allows you to earn interest on your MMA balance to make your savings grow faster. If you need to access your savings – perhaps for an emergency expense or a large purchase – you can easily write a check directly to your MMA. Finally, you can link your MMA to your checking account to cover any accidental borrowing.
You have some flexibility in how you use these two accounts together, especially if you choose a money market account that does not use withdrawal limits. Just remember that if you want to write checks from your MMA, they will likely count against any transaction limits your bank has.
Read more: How to write a check in 6 easy steps
