Money Market Account News

by Sky on April 15, 2009

September 08, 2010 – Amegy Bank with Money Market Rates for online account at .15% APY:

Balance Rate APY
$1,000-$9,999.99 .150% .15%
$10,000-$24,999.99 .200% .20%
$25,000-$49,999.99 .250% .25%
$50,000+ .399% .40%
$100,000+ .499% .50%

Amegy Bank invites consumers to take advantage of their money market rates through their online money market account which used to pay 1.35% APY for all tiers but now only pays .15% to .50%.

These money market rates may vary any time so be wise and check out the bank's website prior to signing up.

This money market offer is national. People from any state can start enjoying the current money market rates by initially depositing $1000. You must maintain $2,500 to avoid the $12 service fee. All earnings of the account are compounded and credited every month.

Applications can be started online. The bank is extra careful with the process and asks for more pertinent information like employment details, net worth, and sources of income.

Following federal law, the bank limits withdrawals and transfers up to six times per month. Any exceeding transaction above this cap will be charged $20.

Some other fees include $5 for each transaction exceeding the monthly limit of 3 for telephone funds transfer and $3 for withdrawal over the counter.

You can also opt for electronic statements over paper monthly account statement. Aside from being greener, you will also be able to avoid the $10 fee the bank charges for delivering these paper statements to your door step.

If you need to make an outgoing transfer, you need to deal with a $2.50 fee per transaction. Incoming funds transfers from your other accounts and banks are, on the other hand, free.

Amegy Bank has over 90 branches spread across Texas. The bank is insured with the FDIC.

August 4, 2009 – Current Interest Rates with Mutual Bank for their Money Market Account:

 

Global Money Market APY*
$ 10,000,000.00 & above 1.75%
$1,000,000.00 – $9,999,999.99 1.35%
$500,000.00 – $999,999.99 1.15%
$300,000.00 – $499,999.99 1.00%
$150,000.00 – $299,999.99 0.90%
$75,000.00 – $149,999.99 0.85%
$5,000 minimum – $74,999.99 0.70%
Below $5,000 0.12%
   
   
   
   

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