FDIC-Insured Since 1925

Grow Your Savings with American Savings Bank Money Market Accounts

For customers comparing money market accounts, American Savings Bank pairs competitive rates with honest fee schedules. Continuity with one banker matters, and so do 24-hour account tools. Whether you visit a branch or sign in online, eligible deposits stay Member FDIC up to $250,000.

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In short

Worth knowing

  • American Savings Bank offers competitive, tiered interest rates on money market accounts, which can vary based on your account balance.
  • Yes, money market accounts typically have limits on certain types of monthly transactions, such as pre-authorized transfers or checks.
  • To open a money market account, you'll need an initial deposit of just $20.
  • You can easily open a money market account with American Savings Bank by visiting any of our convenient branch locations across the Hawaiian Islands…

Banking with American Savings Bank

Why customers choose American Savings Bank for money market accounts

American Savings Bank pairs money market accounts with clear Honolulu/Hawaii service, modern apps, and Member FDIC deposit protection through $250,000.

ASB: Account-access security

American Savings Bank challenges unfamiliar devices. Biometric shortcuts are optional. Encrypted connections carry the session. Postings are watched for fraud continuously.

ASB: FDIC-insured deposits

Balances held at American Savings Bank receive Member FDIC protection totaling $250,000 for each depositor ownership bucket; joint titling can reach $500,000 together.

ASB: 24/7 digital access

Manage your money market accounts from anywhere with American Savings Bank online and mobile banking — check balances and move money around the clock. Deposit checks or pay bills in the same session.

ASB: Competitive rates, fewer fees

Use the disclosures published by American Savings Bank at asbhawaii.us.org to compare current yields, charges, and waiver rules.

When to Choose a Money Market Account vs. a Traditional Savings Account

For each situation, which option fits better — Money Market Account or Traditional Savings Account.
Your situation Money Market Account Traditional Savings Account
You need check-writing capabilities for occasional payments directly from your savings. A Money Market Account provides limited check access, offering more flexibility than a standard savings account. A Traditional Savings Account does not typically offer check-writing, making it less suitable for direct payments.
You maintain a higher balance and want to maximize your interest earnings. A Money Market Account often features tiered APY rates, providing higher yields for larger deposit balances. A Traditional Savings Account usually offers a lower, flat APY, which may not optimize earnings for substantial funds.
You prefer a simpler account with minimal balance requirements and no monthly fees. A Money Market Account may have a $10 monthly fee unless a $1,000 daily balance or $2,500 monthly average is maintained. A Traditional Savings Account often has lower or no monthly fees, or easier waiver conditions, making it more straightforward.
You need high liquidity for frequent electronic transfers or debit card transactions. A Money Market Account offers high liquidity with ATM card and online banking, but historically had Regulation D limits on certain withdrawals. A Traditional Savings Account provides high liquidity through ATM card and online banking, without historical check-writing withdrawal limits.
You are looking for a more liquid alternative to a Certificate of Deposit (CD) but with better rates than basic savings. A Money Market Account offers variable rates that can adjust with the Federal funds rate, providing better liquidity than a locked-rate CD. A Traditional Savings Account typically offers lower rates than a Money Market Account, making it less competitive for maximizing liquid savings.

Key Factors for Choosing an Interest-Earning Account

When selecting an interest-earning deposit account, carefully consider the tiered APY thresholds and the minimum balance required to earn interest. Evaluate the monthly service fees and the specific conditions for waiving them, such as maintaining a $1,000 minimum daily balance or a $2,500 monthly average. Assess your need for liquidity, including check-writing access and ATM card availability, while remembering that all eligible deposits are insured up to applicable federal limits by the FDIC.

Common Uses for Money Market Accounts

Example situations, not descriptions of real customers.

  • A prudent household

    needs a secure, accessible emergency fund that earns competitive interest without being locked away.

    A money market account provides higher interest than standard savings while offering liquidity for unexpected expenses.

  • An individual saving for a down payment

    accumulating a substantial sum for a future home purchase or other significant investment.

    Tiered interest rates can help savings grow faster, and check-writing access offers flexibility for eventual payments.

  • A small business owner

    managing fluctuating cash flow and holding operating reserves while seeking better returns than a checking account.

    The account offers competitive interest on larger balances and limited check access for convenient business expenditures.

  • Some individuals nearing retirement

    holding funds for short-term needs or future investments, desiring both growth and easy access.

    It provides a secure place for funds, earning interest, while remaining more liquid than a Certificate of Deposit.

At a glance

Benefits and tradeoffs

Pros & advantages

  • Account-access security: American Savings Bank challenges unfamiliar devices.

  • Manage your money market accounts from anywhere with American Savings Bank online and mobile banking — check balances and move money around

  • Use the disclosures published by American Savings Bank at asbhawaii.us.org to compare current yields, charges, and waiver rules.

Cons & watch-outs

  • None of these money market accounts terms are guaranteed to hold — check the applicable American Savings Bank disclosure for what applies right now.

  • Feature sets and transaction limits vary across American Savings Bank accounts and devices by state, and online-banking enrollment is often a prerequisite.

Assemble the materials listed below before you apply

  • Your state-issued license or ID card, or a current passport bearing a clear photograph
  • Bring the federal tax ID you use on IRS filings
  • Supply your present residence and preferred ways to reach you
  • Your opening contribution, sized to whatever the product's disclosure demands
  • Identifiers for the third-party account underwriting your initial funding

Plan ahead

Savings projection tool

No promise is implied here — actual growth follows the APY, balance bands, and compounding American Savings Bank has in effect today.

Account facts

Product facts

Monthly service charge
$10 unless $1,000 minimum daily balance or $2,500 monthly average
Minimum to open
$20
Checks
Check access; ATM card and Online Banking included
sourceKind
sourced

As of 2026-09-01. Source: https://www.asbhawaii.com/personal/savings/money-market-savings

ASB sources & references

American Savings Bank: regulator-checked money market accounts sources.

  1. FDIC Deposit Insurance for ASB

Open Your American Savings Bank Money Market Account Today

Open an American Savings Bank Money Market Account. Requires $20, includes check access and online banking. A $10 monthly fee is waived with a $1,000 daily balance.

Open a Money Market Account Compare Other Savings Options
American Savings Bank FAQ

money market accounts guidance from American Savings Bank

What are the money market rates today for American Savings Bank customers?

American Savings Bank offers competitive, tiered interest rates on money market accounts, which can vary based on your account balance. These rates are designed to help your savings grow while providing access to your funds. You can always check the most current annual percentage yield information on our website or by speaking with a banking representative.

Do money market accounts have monthly transaction limits?

Yes, money market accounts typically have limits on certain types of monthly transactions, such as pre-authorized transfers or checks. You'll have check access and also be able to use your ATM card and American Savings Bank Online Banking for convenient management. These limits help define the account as a savings vehicle rather than a checking account.

What are the money market minimum balance requirements?

To open a money market account, you'll need an initial deposit of just $20. There is a $10 monthly service fee, but you can avoid this fee by maintaining a $1,000 minimum daily balance or a $2,500 monthly average balance in your account. Meeting these minimum balance requirements helps you save more.

How to open a money market account with American Savings Bank?

You can easily open a money market account with American Savings Bank by visiting any of our convenient branch locations across the Hawaiian Islands or by calling us at +1-808-627-6900. Our team will guide you through the application process. You'll need to provide some personal identification and your initial $20 opening deposit.

How does tiered APY money market interest work?

Tiered APY money market interest means that the annual percentage yield you earn on your account balance can increase as your balance grows. Different balance ranges, or tiers, may qualify for different savings rates. This structure allows customers with higher deposit amounts to potentially earn more on their money market savings.

How does money market vs certificates of deposit liquidity differ?

Money market accounts offer greater liquidity compared to Certificates of Deposit (CDs) because you can typically access your funds, including check access, without penalty. CDs, on the other hand, usually lock in your money for a fixed term, and early withdrawals may incur penalties. This makes money market accounts more flexible for those needing access to their savings.

How can I access my funds from a money market account?

You can access your money market account funds conveniently through several methods. This includes using your provided ATM card for cash withdrawals, writing checks directly from your account, or managing transfers through ASB Online Banking and the ASB Hawaii Mobile App. These options give you flexibility while still earning interest.

What is the FDIC deposit insurance limit for money market accounts?

Your money market accounts at American Savings Bank are insured by the FDIC up to the standard maximum deposit insurance amount of $250,000 per depositor, per insured bank, for each ownership category. This protection covers your deposits in the unlikely event of a bank failure. Learn more about deposit insurance.

Is there a monthly fee for American Savings Bank money market accounts?

Yes, American Savings Bank money market accounts have a $10 monthly service fee. However, this fee is easily waived if you maintain either a $1,000 minimum daily balance or a $2,500 monthly average balance in your account. We want to ensure our customers have clear ways to avoid unnecessary charges.