As of December 22, 2025, Citizens Bank offers a tiered approach to money market accounts. While convenient for existing customers, their rates lag behind high-yield online alternatives. This analysis breaks down today’s options, comparing Citizens’ offerings to national averages and top-performing accounts.
Citizens Bank’s Money Market Options
Citizens Bank provides two main money market account options: the standard Citizens Personal Money Market and the relationship-based Citizens Quest® Money Market.
The Personal Money Market delivers a minimal 0.01% APY on most balances. This makes it more of a holding account than a growth tool. It does carry a $10 monthly fee, but this can be waived with a minimum daily balance of $2,500.
The Quest Money Market offers better rates, reaching up to 2.75% APY for preferred customers. However, to qualify, you must maintain a Citizens Quest Checking account and deposit at least $25,000 in new funds.
How Citizens Compares to the Market
The national average money market APY currently sits at 0.58%, with a cap of 1.33%. However, top online money market accounts and high-yield savings accounts offer significantly higher rates. As of today, some accounts are paying up to 4.25% APY for money markets and 4.60% APY for savings.
This means Citizens’ Quest Money Market, even at its highest tier, still falls short by roughly 1.5 percentage points. On a $50,000 balance, this difference translates to approximately $700 in lost earnings per year.
Who Should Consider Citizens?
Citizens Bank money market accounts may be suitable for:
- Existing Customers: Those already banking with Citizens for convenience.
- Relationship Clients: Customers who can meet the Quest Money Market requirements.
- Branch-First Savers: Individuals who prioritize in-person banking access.
However, rate-focused savers and those with larger balances should explore online alternatives to maximize earnings.
Better Alternatives
If maximizing yield is your priority, consider these FDIC-insured money market accounts:
- Ally Bank: Offers competitive rates and no monthly fees.
- Marcus by Goldman Sachs: Known for high APYs and easy online access.
- Synchrony Bank: Consistently among the top-paying money market accounts.
- Capital One 360: Offers a blend of competitive rates and banking services.
- Discover Bank: Provides high yields and a straightforward online experience.
Final Take
Citizens Bank money market rates offer convenience for existing customers, but fall short when compared to top-tier online options. If maximizing returns is your goal, consider diversifying your savings across multiple institutions to leverage the best available rates.
Ultimately, the best strategy is to keep Citizens for convenience while letting most of your savings grow closer to current market rates elsewhere.
