Business money market rates in 2026
Current rates bank by bank, what the headline number hides, and how it compares to covered stablecoin yield.
Edition of September 2026 · Next review October 2026 · Bank panel collected manually
The short version
- Seven US institutions, tracked on the same product category and the same measure. Two rates were read at the source on 30 Sep 2026: Axos 3.50% APY and Live Oak 2.75% APY. Chase and Wells Fargo publish their rate only after a ZIP code. The other cells stay marked “To be sourced” until read and dated.
- For scale, the FDIC national average was 0.63% on money market accounts and 0.37% on savings as of September 21, 2026. The 3-month Treasury bill par yield was 4.25% on 29 Sep 2026.
- A money market account is a deposit at a bank. A money market fund is a security you own. Comparing their yields without saying which is which is the most common error in a treasury review.
- An advertised business rate is a bracket, not a balance: tiers, minimums, promotional windows and relationship pricing all sit between the headline and your account.
- The APY is gross. Maintenance charges, excess transaction fees and forfeited earnings credit decide what actually reaches your income statement.
- Coinstancy Pro pays 6.00% with no lock and 6.75% at twelve months, in USD or USDC, with withdrawals within 48 hours. Rates as of September 2026. It is not FDIC insured.
This month’s rates, bank by bank.
Seven US institutions, tracked on the same product category and the same measure. Each rate is read on the institution’s own page and dated. On 30 Sep 2026, Axos published 3.50% APY and Live Oak 2.75% APY. Chase and Wells Fargo show their rate sheet only after a ZIP code is entered. The remaining cells stay marked “to be sourced”. We would rather show a gap than a number we cannot defend.
Each row is one institution of the September 2026 panel. Axos Business Premium Savings pays 3.50% APY flat from $0 to $4,999,999.99 with no minimum; the advertised “up to 3.60%” needs a bundled checking account and a promo code, so it is recorded as promotional. Live Oak Business Savings pays 2.75% APY, single rate, no minimum. Both were read on 30 Sep 2026. Chase and Wells Fargo publish their business savings rates only after a ZIP code is entered, and Bank of America, Capital One and First Internet Bank have not been read at the source yet: those rows show a hatched band and a status label instead of a bar. For scale, the FDIC national average was 0.63% on money market accounts and 0.37% on savings as of September 21, 2026, with the federal funds target range at 3.75% to 4.00% since September 17, 2026 (see Sources). Coinstancy Pro applies no tiering by balance, and its grid was verified on September 2026. The four columns, bank by bank, are in the table below.
The panel, column by column
Coinstancy Pro is not a bank and is not FDIC insured. It appears in this table for yield comparison only. The rest of the grid (the introductory rate and the 3, 6, 9 and 12-month tiers, up to 6.75%) is on the rate barometer.
Government money market fund
Not verified this editionA registered fund holding Treasury bills, agency paper and repo. The quoted yield is already net of the expense ratio. Not a deposit, not FDIC insured, redeemable typically the same or next business day. The Vanguard VMFXX and Fidelity SPAXX fund pages could not be read on 30 Sep 2026, so no yield is printed here: check the current 7-day yield on the fund page.
3-month Treasury bill
The rate a treasurer can lock directly, backed by the US government. No credit risk held to maturity, price risk if sold early. 4.25% is the 3-month par yield on the US Treasury daily curve for 29 Sep 2026 (see Sources). This is the floor any alternative should be measured against.
Coinstancy Pro, no lock
Covered stablecoin savings in USD or USDC, withdrawals available within 48 hours, KYB (Know Your Business verification) before the first deposit. Not FDIC insured. Eligible funds are covered through OpenCover for specific protocol events, subject to policy terms.
Money market account against money market fund.
The names differ by one word and the instruments differ entirely. One is a deposit at a bank. The other is a security you own. Comparing their yields without noting that is the most common error in a treasury review.
| Criterion | Money market deposit account | Money market fund |
|---|---|---|
| What you own | A deposit, which is a liability of the bank | Shares in a registered fund holding short-term paper |
| Insurance | FDIC insured up to $250,000 per depositor, per bank, per ownership category | Not FDIC insured. Brokerage account protection (SIPC) covers broker failure, not investment loss |
| Who sets the rate | The bank, unilaterally, revisable at any time | The market, minus the fund’s expense ratio |
| How yield is quoted | APY, often tiered by balance | 7-day net yield, moving daily |
| Access | Same day, though transaction counts may be capped | Redemption typically settles same or next business day |
| Concentration | One institution, one charter | A diversified portfolio of short government or prime paper |
| What can go wrong | Bank failure above the insured limit; a rate cut with no notice | Credit or liquidity stress in the portfolio; withdrawal of fee waivers; liquidity fees on some institutional fund types |
Government fund or prime fund
Within funds, the distinction that matters for a corporate treasury is government against prime. A government fund holds Treasury and agency paper and repo backed by it. A prime fund adds short-term corporate and bank paper, which is where the extra yield comes from and also where the credit and liquidity risk sits. Institutional prime funds carry a floating net asset value and liquidity fee mechanics that government funds do not. If the mandate is capital preservation rather than yield maximization, a government fund is the conventional answer, and the small yield give-up is the price of not having to explain a prime fund to your board in a stressed week.
The instrument-level comparison, including where Coinstancy Pro fits, is on the money market comparison page.
Deposit thresholds and rate tiers.
A business money market rate is almost never one number. It is a table with brackets, minimums and conditions, and the advertised figure is whichever line reads best.
The headline rate is a bracket, not a balance
A tiered money market account can apply its top rate only to the amount inside the top band, with lower bands earning less. Two accounts advertising the same number can pay very different blended yields on the same deposit. Ask whether the rate is blended across the balance or applied per tranche.
The top tier may sit above your balance
Advertised rates are often reached only at a threshold most operating businesses never hold in one account. Below it, you earn a base tier that is rarely featured in the marketing. Read the full tier table, not the first line of it.
Or it may sit below your balance
The inverse structure exists too: a strong rate on the first bracket, and a much lower rate on everything above it. This one is designed to attract deposits without paying for size, and it punishes exactly the treasury that has cash to place.
Promotional rates expire
Introductory offers carry a window, usually with a new-money condition excluding balances already at the institution. Note the reset date the day you open the account, because nobody will remind you when it passes.
Relationship pricing is not on the rate page
Above a certain size, the published rate is a starting point. Banks price deposits against the rest of the relationship: credit facilities, card volume, treasury management fees. The number you can negotiate is not the number you can compare.
Minimums to earn, and minimums to avoid a fee
These are two different thresholds and they are rarely equal. Falling below the first costs you the rate; falling below the second costs you a monthly charge. A balance between them earns little and is billed anyway.
Three questions before you compare two accounts
- At my actual average balance, what rate applies, and is it blended or per tranche?
- Which threshold triggers the fee, and which one triggers the rate? They are usually different.
- If this is promotional, what date does it reset, and what does it reset to?
Coinstancy Pro has no tier table for balances: the rate is set by the term you commit to, not by how much you deposit. 6.00% with no lock, up to 6.75% at twelve months, the same for every account size, as of September 2026.
Fees that erode the headline rate.
The advertised APY is gross. What reaches your income statement is interest earned minus what the relationship costs. On a fee schedule with flat charges, a smaller balance loses a larger share of its return.
| Charge | How it reduces the effective yield |
|---|---|
| Monthly maintenance fee | Charged unless a minimum balance is held; a flat cost against a percentage return, so it hurts smaller balances most |
| Excess transaction fee | Applied per withdrawal or transfer above the account’s monthly allowance |
| Account analysis fees | Treasury management modules billed monthly, sometimes offset by earnings credit rather than paid in cash |
| Earnings credit forfeiture | Credit generated by balances offsets fees only; unused credit generally expires rather than paying out |
| Wire and ACH origination | Per-item pricing that grows with payment volume, unrelated to the deposit rate but netted against the same return |
| Fund expense ratio | Deducted before the quoted 7-day yield on a money market fund. Already reflected, but the waivers supporting it can be withdrawn |
Compute your own net rate
Take twelve months of statements. Add the interest credited, subtract every fee charged on the account, divide by the average balance over the same period. That number is what the deposit actually returned. It is frequently well below the rate on the marketing page, and it is the only figure worth comparing against an alternative.
Compared with covered stablecoin yield.
The yield gap is the easy part of this comparison. The part that decides it is what you give up: deposit insurance, in exchange for a narrower coverage policy and a 48-hour withdrawal window.
| Criterion | Business money market account | Coinstancy Pro |
|---|---|---|
| Deposit insurance | FDIC insured up to $250,000 per depositor, per bank | None. This product is not FDIC insured |
| Coverage | Not applicable | OpenCover, on Sensitive Protocols defined by Coinstancy, per policy terms, limits and exclusions |
| Access | Same day, subject to transaction limits | Withdrawals available within 48 hours |
| Eligible assets | USD | USD or USDC only |
| Onboarding | Account opening, business documentation | KYB before the first deposit |
| Custody | The bank holds the deposit | Coinstancy holds the funds (custodial) and deploys them in reviewed DeFi protocols; the client holds no keys |
| Rate certainty | Revisable by the bank at any time | Contractual for the tier selected; early exit returns capital and forfeits accrued interest |
| Balance placed | At an illustrative 4.00% | Coinstancy Pro, no lock (6.00%) | Coinstancy Pro, 12 months (6.75%) | Difference, no lock |
|---|---|---|---|---|
| $250,000 | $10,000 | $15,000 | $16,875 | +$5,000 |
| $500,000 | $20,000 | $30,000 | $33,750 | +$10,000 |
| $1,000,000 | $40,000 | $60,000 | $67,500 | +$20,000 |
The 4.00% column is an arithmetic illustration, not a sourced or surveyed bank rate. Substitute the net rate you computed from your own statements. Figures are simple annual interest before tax, assuming the rate holds for a full year, and the Coinstancy Pro tiers are not guaranteed beyond the lock-up selected. Run your own balance through the calculator.
What the extra yield does not buy you
A money market deposit account carries FDIC insurance and this product does not. Funds are covered by OpenCover on Sensitive Protocols defined by Coinstancy, for specific protocol events (smart contract code bugs, oracle manipulation or failure, liquidation failure, malicious governance takeover), subject to policy terms, limits and exclusions. The coverage page sets out the full scope.
Methodology.
A rate comparison is only worth what its sourcing rule is worth. Here is ours, in full.
Every bank rate on this page is read manually from the institution’s own published rate page or fee schedule, then dated. Nothing here comes from a rate aggregator, an affiliate feed or an automated scrape. Until a rate has been read and dated at the source, its cell carries a status label (“to be sourced”, “not published without ZIP”) rather than a number. The bank readings are the same as on the rate barometer, so the two pages never disagree.
We record the advertised annual percentage yield for the standard business tier available without a relationship agreement, a treasury management contract or a negotiated exception. Promotional and introductory offers are recorded separately when they exist, and never blended into the standard rate.
Where an account is tiered, we record the entry rate, the balance required for the advertised rate, and whether the rate applies to the whole balance or only to the tranche inside that band. A single number for a tiered product would not be comparable to anything.
The Coinstancy Pro figures are the contractual rates in force on the date shown: 6.00% APY with no lock and 6.75% at twelve months. They are annualized, quoted before tax, and not guaranteed beyond the lock-up you select. A rate change is reflected here on the day it takes effect.
We do not rank institutions, we do not publish a rate we could not verify at the source, and we do not present this comparison as investment advice. A bank deposit and a covered stablecoin savings product are different instruments carrying different risks. The comparison is on yield, not on safety.
If a figure here is out of date or wrong, it is a defect in the page. Send the source link and the correction is made at the next review, or sooner. The review date at the top of the page is the commitment.
Conditions and onboarding requirements are on the compliance page and the FAQ.
Sources and further reading
The figures and claims on this page rest on the documents below. Time-sensitive figures (rates, yields, fees, market data) move: check the live value at the source before acting on it.
- Axos Bank, Business Premium Savingsaxosbank.com
3.50% APY on all balances from $0 to $4,999,999.99, no minimum to earn it; page states accurate as of 9/30/2026. The advertised “up to 3.60%” needs a bundled checking account and a promo code, so it is treated as promotional. Read 30 Sep 2026.
- Live Oak Bank, Business Savingsliveoakbank.com
2.75% APY, single rate, no tiers, interest from $0.01, no minimum opening deposit. Read 30 Sep 2026.
- Chase, business disclosures and interest rateschase.com
Business Total Savings and Business Premier Savings rates are shown only after a ZIP code is entered. Checked 30 Sep 2026.
- Wells Fargo, business savings rateswellsfargo.com
Business Market Rate Savings rate table requires a ZIP code; $25 minimum opening deposit, $5 monthly fee waived with a $300 minimum daily balance. Checked 30 Sep 2026.
- FDIC, national rates and rate capsfdic.gov
National average rates of 0.37% on savings and 0.63% on money market deposit accounts as of September 21, 2026, the benchmark quoted in the panel section.
- FDIC, deposit insurancefdic.gov
The $250,000 limit per depositor, per insured bank, per ownership category, and the statement that mutual funds and securities are not deposits and are not insured.
- SEC, money market fund rules (Rule 2a-7, 17 CFR 270.2a-7)ecfr.gov
Portfolio, liquidity and liquidity fee requirements for money market funds, behind the account-versus-fund comparison.
- US Treasury, daily par yield curvehome.treasury.gov
3-month Treasury bill par yield of 4.25% on 29 Sep 2026, the benchmark card in the panel section.
- Federal Reserve, open market operationsfederalreserve.gov
Federal funds target range of 3.75% to 4.00% since September 17, 2026, the rate that deposit and money market yields follow.
- OpenCoveropencover.com
The provider of the protocol coverage arranged for Coinstancy Pro; the scope, limits and exclusions are on the coverage page.
Last reviewed: 30 September 2026. External links open in a new tab; Coinstancy is not responsible for their content.
Compare it against your own net rate.
Open an account directly. If your finance team needs the coverage terms and the KYB requirements before that, our team can answer through the contact page.