Depending on the account, this could be a few hundred dollars or more than $10,000. With a Capital One 360 Money Market account, you need a balance of at least $10,000 to get the highest rate. While searching for what a money market savings account is, you may have come across another type of savings account called a certificate of deposit, or a CD. Yes, your Wells Fargo Bank money market accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). Earn More Interest on a High Balance Account. If you are maintaining higher balances, the Money Market pays a better interest rate than a traditional savings account. Earn a premium interest rate when the account is held in conjunction with a qualifying checking account.