The best money market account for having ATM access to your savings

Editor's Note: APYs listed in this article are up-to-date as of the time of publication. They may fluctuate (up or down) as the Fed rate changes. CNBC will update as changes are made public.

If you're shopping around for a new savings account, you likely have come across money market accounts (MMAs).

Like your traditional and high-yield savings accounts, MMAs earn you interest on the money you deposit into your account. But unlike savings accounts, MMAs offer easier access to your money, making it a kind of hybrid deposit account that shares features of both checking and savings accounts.

In addition to offering users check-writing abilities, the top MMAs also come with ATM cards. This means that you can make unlimited withdrawals from your MMA immediately and at any time. (With high-yield savings accounts, you typically have to open a checking account as well in order to receive an ATM card.)

The NBKC Bank Personal Money Market account ranks on our best MMA list for offering — on top of checks — an above-average interest rate, free access to 32,000+ MoneyPass® ATMs nationwide and out-of-network ATM reimbursement up to $12 per month.

Below, we review the NBKC Bank Personal Money Market account and give you all the details on its features, including the annual percentage yield (APY), access to your cash, perks and fees so you can decide if this MMA is right for you. (See our methodology for more information on how we choose the best money market accounts.)

• APY
• Access to your cash
• Perks
• Fees
• Bottom line

The current APY is 0.40%. Users of the NBKC Bank Personal Money Market start earning interest with just a minimum $0.01 balance required in their account.

Interest compounds daily and is credited to your account monthly.

NBKC Bank account holders can make unlimited withdrawals from their MMA fee-free at any one of the 32,000+ MoneyPass® ATMs nationwide. NBKC will also reimburse up to $12 per month of fees from out-of-network ATMs.

You should still be cautious about how much you withdraw from an out-of-network ATM, however. According to Bankrate, out-of-network ATM operators charge customers an average fee of $4.64. Just going to a non-MoneyPass ATM three times in one month would already put you over the refundable amount in some cases.

There is also physical branch access, but quite limited as NBKC Bank branches are only in Kansas City, MO.

To deposit funds into your account, you can make an electronic transfer to and from accounts both at NBKC Bank and other banks, set up direct deposit, write or deposit checks and schedule wire transfers. You may also deposit money at an ATM or via the bank's mobile deposit.

Note that all withdrawals (except ATM transactions) and transfers are limited to up to six per statement cycle as required by federal law (limit waived during the coronavirus outbreak under Regulation D).

With the NBKC Bank Personal Money Market, you get access to both checks and an ATM card so you can easily withdraw cash from your savings should you need to.

To really make use of this feature, transact at one of the 32,000+ MoneyPass® ATMs nationwide so you are in network and there's no cost to you. For any out-of-network ATM provider fees, NBKC reimburses up to $12 per month.

For those who live near one of the NBKC Bank branches in Kansas City, MO, be sure to take advantage if you're someone who values in-person banking service. Most of the best money market accounts are offered by online-only banks, so this could be a perk for those living in the region.

In addition to having no minimum deposit requirements, the NBKC Bank Personal Money Market also offers no monthly maintenance fees.

There are many consumers who may want direct and immediate access to their savings, especially in today's uncertain economic climate.

For this reason, the NBKC Bank Personal Money Market is a solid choice. This MMA offers an above-average interest rate, free access to 32,000+ MoneyPass® ATMs nationwide and out-of-network ATM reimbursement up to $12 per month.

If you don't plan on tapping into your savings funds, try a basic MMA that still offers higher-than-average interest rates but doesn't come with an ATM card, such as the Sallie Mae Money Market Account. As this is still a MMA, you'll get access to checks and Sallie Mae sends them for free when you open an account.

To determine which money market accounts (MMAs) offer the best return on your money, CNBC Select analyzed dozens of MMAs offered by online and brick-and-mortar banks, including large credit unions.

We found that the APY offered by online banks and credit unions far outpaced those offered by most national brick-and-mortar banks. While many credit unions have good MMA options, they didn't make our final list because the majority require membership, which can require you to jump through several hoops to qualify. This is a ranking of only MMAs, excluding any money market funds (which are investment products).

We narrowed down our ranking by only considering those accounts that offer competitive APYs, or higher-than-average rates, as well as no (or low) required minimum deposits to open an account and zero monthly maintenance fees.

While the accounts we chose in this article consistently rank as having some of the highest APY rates, we also compared each MMA on a range of other features, including check-writing abilities, debit card and ATM access, website and mobile features, as well as factors such as insurance policies and customer reviews when available. We also considered users' deposit options and the frequency with which the interest compounds.

All of the MMAs included on this list are FDIC-insured up to $250,000 per person. If you are opening a joint account MMA, the insurance limit is doubled.

The rates and fee structures banks advertise for their MMAs are not guaranteed forever. They are subject to change without notice and they often fluctuate in accordance with the Fed rate. If you open a MMA, the APY you earn is a variable rate — meaning it can go up and down at any time.

Your earnings depend on the amount you deposit into your MMA, your APY, any additional contributions and associated fees, as well as withdrawals that you make from your account. Generally, larger deposits and a higher interest rate will earn you the most money. Any withdrawals will lower your principal balance/earnings.

To open a MMA for the first time, most banks and institutions require a deposit of new money, meaning you can't transfer money you already had in an account at that bank.