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Tax season often brings a welcome boost, a refund. But once it hits your account, the next question matters just as much: Where should you put it?

If you want your savings to earn more than a traditional savings account — without locking your money away — a Money Market Account (MMA) may be worth considering. Here’s what a money market account is, how it works, and how AmeriChoice’s Tiered Money Market Account fits into your savings strategy.

What Is a Money Market Account?

A money market account is a type of savings account designed for higher balances. It combines:

• The safety of a deposit account

• The earning potential of higher dividend rates

• The flexibility to access your funds when needed

Unlike certificates or long-term investment products, a money market account keeps your money liquid, meaning it’s available when you need it.

That makes it a practical option for emergency funds, short- to mid-term savings goals, or larger deposits, such as tax refunds.

How Is a Money Market Account Different from a Regular Savings Account?

Both accounts are built for saving, but they’re structured differently.

Higher Earning Potential

Money market accounts typically offer higher dividend rates than traditional savings accounts, especially once your balance reaches a certain level.

AmeriChoice’s Money Market Account is tiered, meaning your rate depends on your balance:

• Balances up to $2,500 — 0.00% APY*
• Balances over $2,500 — 1.50% APY*

Once your balance exceeds $2,500, your savings begin earning at the higher rate tier.

For members receiving a tax refund, this threshold can be especially important. If your refund helps push your balance past $2,500, you could start earning more on those funds immediately.

2. Balance Requirements

Traditional savings accounts often have low or no minimum balance requirements.

Money market accounts typically require a higher balance to unlock their full earning potential — which is why they’re often used for larger savings goals.

3. Access to Funds

Money market accounts are still considered liquid accounts. While institutions may apply transaction policies, your funds are not locked into a term as they would be with a certificate.

This flexibility makes an MMA useful for:

• Emergency savings
• Home improvement projects
• Insurance deductibles
• Planned large purchases

When Does a Money Market Account Make Sense?

A Money Market Account may be a strong fit if you:

• Have at least $2,500 in savings
• Want a higher earning potential than a basic savings account
• Are building or strengthening your emergency fund
• Prefer flexibility over locking funds into a long-term product

If you’re still building toward that $2,500 balance, starting with a traditional savings account and working up to the next tier can be a smart strategy.

Example: Putting a Tax Refund to Work

Let’s say you receive a $3,000 tax refund.

If you deposit it into a Tiered Money Market Account and your balance exceeds $2,500, your funds would begin earning at the higher dividend rate.

Rather than sitting idle, that refund becomes part of a growing savings strategy, while still remaining accessible if you need it.

How Do I Check Current Rates?

Dividend rates can change.

For the most up-to-date rate information and full account details,visit AmeriChoice’s Money Market page here.

A Smart Step Toward Stronger Savings

A Money Market Account isn’t about complexity; it’s about efficiency.

If you’ve built a savings foundation or are receiving a larger deposit like a tax refund, moving into a tiered account structure may help your money work harder without sacrificing access.

Explore current rates and see if an AmeriChoice Tiered Money Market Account aligns with your financial goals.

*APY = Annual Percentage Yield. Rates are subject to change without notice. The annual percentage yield is accurate as of the last dividend declaration date.