Are you looking for a savings account, or for a money market account? Slightly different kinds of accounts. Nothing sketch about a good member FDIC online-first or online-only bank though. For savings accounts, my number one recommendation is always American Express. A large, well-known, reputable bank with good rates, great customer service, a good app, and overall just excellent to deal with. Their credit cards and Certificate of Deposit offerings are also great, the checking account is unfortunately pretty rough though so I wouldn’t bother with that one. They’re steadily improving it though. Capital One is also a solid choice - I can’t sing praises for them like I can AmEx, but they are large and respectable and they offer some physical banking services via their cafes and their small branch footprint. Can’t go wrong with either, especially for someone who’s more reserved about going with smaller/lesser known banks for their savings. But I don’t have many good recommendations for Money Market Accounts. I’m not a big fan of Ally but I do know they have one of the better MMA products out there. Discover had a good one but unfortunately closed applications to theirs after Capital One acquired them. Perhaps your need for an MMA could be met by a good CMA? Unlike savings accounts or money market accounts, cash management accounts are a type of brokerage account. Among them I recommend Fidelity CMA, high-interest brokerage account with spending features. Fidelity Investments is one of the largest broker-dealers in the entire world, has been around since 1946, and is a member SIPC/FINRA institution. Funds are swept into the SPAXX money market fund (which itself invests in ultra-safe securities like US Treasury bonds) and are insured under SIPC. It’s not a bank or credit union account for sure, so do your research on the differences between FDIC / NCUA vs SIPC and bank / credit union vs broker-dealer. But it’s very safe all the same, and vastly superior to going with a fintech. More on reddit.com

It is important to understand that you want a money market fund, not a money market account. The latter is just a marketing term used by banks for their saving account. Such an account will pay a lower rate and will likely have strings attached. You want a money market fund from a brokerage like Vanguard or Fidelity. I use vanguard’s VMFXX. It currently pays 5.26%. The brokerage account at Vanguard can be opened easily online in 5 minutes. You can fund it from your bank account and move money between the two with ease whenever needed. You should not use a money market account at a bank. More on reddit.com

Remember besides minimum investment you also have to consider tax efficiency if you are subject to state/local taxes. A lot of the highest yielding MMFs have CDs, repos, agency debt and commercial paper that is not state/local tax exempt like treasuries. Do you need MMF liquidity specifically? You might be able to eke out a slightly better yield on a cash-like investment with an FRN ETF like USFR which is 99.97% US treasuries More on reddit.com

Um, the one with the highest yield? More on reddit.com