Most money market accounts do not come with a checkbook, but some banks offer check-writing as an add-on feature

Whether you can write checks from a money market account depends entirely on your bank. Some banks include check-writing privileges as part of the account. Others do not offer it at all, even if you ask. A few banks let you request checks for an extra fee. Before you open a money market account, ask the bank directly: "Can I write checks from this account, and if so, are there any limits or fees?"

The reason most money market accounts do not come with checks is that they are designed to be savings accounts, not spending accounts. Banks want you to keep money in the account and earn interest. Checks encourage you to spend, which defeats that purpose. If you need to move money out regularly, a checking account is usually the better choice.

Key Takeaways

  • Check-writing is not standard on money market accounts — you must ask your specific bank whether it is available.
  • If your bank does offer checks, there may be limits on how many you can write per month or per statement period.
  • Some banks charge a fee for each check you write from a money market account, while others include a certain number free.
  • If you need to write checks regularly, a checking account will usually be cheaper and simpler than a money market account with check privileges.
  • You can always transfer money from a money market account to a checking account and write checks from there instead.

How to learn about your bank offers check-writing

Call your bank's customer service line or visit their website and search for the money market account terms. Look for a section called "Account Features" or "Frequently Asked Questions." The bank should list whether checks are included, how many you can write, and whether there are fees.

If the website does not say, call and ask directly. Write down the answer and the name of the person who told you — if you open the account and later discover the bank will not let you write checks, you will have a record of what you were told.

Limits on the number of checks you can write

Federal rules used to cap the number of withdrawals you could make from a money market account each month. Those rules changed in 2020, and most banks removed the limits. However, some banks still impose their own limits on check-writing specifically, even though they allow unlimited transfers and ATM withdrawals.

A bank might say you can write up to six checks per month, or ten per statement period, or unlimited. Ask what the limit is before you open the account. If the limit is too low for how you plan to use the account, choose a different account type or a different bank.

Fees for writing checks from a money market account

Some banks include a set number of free checks per month — for example, six free checks and then a fee for each one after that. Other banks charge a flat fee for every check you write. A few banks include unlimited free checks as part of the account.

The fee is usually small — between 50 cents and $2 per check — but it adds up if you write many checks. If you plan to write more than a handful of checks each month, the fees may make a money market account more expensive than a regular checking account, which typically has no per-check fees.

Using transfers instead of checks

If your bank does not offer checks, or the fees are too high, you can move money from your money market account to a checking account and write checks from there. Most banks let you transfer money between your own accounts for free, and the transfer usually takes one business day.

This approach gives you the best of both: your money earns interest in the money market account, and you can spend it whenever you need to by transferring it to checking first. The only downside is the extra step, but it takes less than a minute online.

Money market accounts versus checking accounts

If you need to write checks regularly — more than a few per month — a checking account is usually the simpler choice. Checking accounts are designed for frequent spending and come with checks included. Money market accounts are designed for saving, which is why check-writing is not standard.

Some people keep both: a money market account for savings that earns a higher interest rate, and a checking account for daily spending. You can transfer money from savings to checking as needed. This setup lets you earn more interest on the money you are not spending right away, while keeping a checking account for the money you use regularly.

What happens if you try to write a check from an account that does not allow it

If your bank does not offer checks on your money market account and you try to write one anyway, the check will bounce. The bank will return it unpaid, and you may face a fee from your bank and from whoever you wrote the check to. The person or business you wrote the check to may also report it to a check-verification system, which can make it harder to write checks elsewhere.

Before you write a check, confirm with your bank that the account supports check-writing. If you are unsure, transfer the money to a checking account first.

Frequently Asked Questions

Can I get a debit card instead of checks for my money market account?

Many banks offer debit cards on money market accounts, even if they do not offer checks. A debit card lets you spend the money directly without writing a check. Ask your bank whether a debit card is available and whether there are any fees or limits on how often you can use it.

If I write a check from my money market account, does the interest stop?

No. You continue to earn interest on the balance in the account. When you write a check, the money leaves the account and the interest stops on that amount, but the rest of the balance keeps earning interest as usual.

Can I order checks online if my bank offers them?

Yes. Most banks let you order checks through their website or by calling customer service. Some banks print checks for free; others charge a small fee. Ask your bank about the cost and how long it takes to receive them.

What if I want to write checks but my bank does not offer them?

You have two options: switch to a bank that does offer checks on money market accounts, or keep your money market account and transfer money to a checking account when you need to write a check. The second option is usually simpler and lets you keep the higher interest rate on your savings.