Ally Bank offers a good money in the bank deal through their money market account which has a current interest rate of 1.49% APY effective on all balances.

This money in the bank deal can be opened with $0. The promo page clearly states that the bank does not impose any minimum balance requirements and does not collect any monthly service fees. The variable interest rate will take into effect when the bank receives your initial deposit.

Interested consumers can complete an application for a money market account online. If everything goes smoothly upon account opening, the bank will just require you send one document. You will need to accomplish a signature card with a return envelope that the bank will send to you.

Aside from the competitive money market rate, the account comes with the convenience of a check card. The first 50 checks come free. Consumers also don’t have to worry about ATM fees, Ally Bank even guarantees that if another bank charges you ATM fees they will refund the first four transactions up to $6 every month.

The interest rate that we have here is still posted on the website as of January 6 but they can be changed any time. The earnings of this money market are compounded on a daily basis.

The website does not include a FAQ section and we can not see the options on how you can send the bank your deposit. We chatted with the online help and we were informed that you can mail in a check, do a wire transfer, or send money via ACH which is of course the easiest method.

Like other money market accounts, this one too is limited to six transactions per month as restricted by federal law. Any transaction in excess of this limit will cost you $10 each.

Ally Bank roots from the foundation of GMAC Financial Services. Both companies are indexed with the FDIC. Ally Bank has a 24×7 customer service line through 1-877-247-ALLY.

Ally Bank is registered under FDIC certificate number 57803.

Giantbank.com keeps on offering competitive money market rates despite the recent cut in interest rate. Their money market deal gives 1.46% APY for balances of at least $1000 which is also the minimum requirement to open the account.

Aside from taking advantage of the current interest rates, the money market account comes with free regular checks upon opening. You can keep track of your transactions by checking interim activities online plus the bank will send you a monthly paper statement. The interest of the account is compounded on a daily basis.

Withdrawals and transfers from your money market account is limited to six every month as guided by the federal law. Three of this can be through draft, check, or debit card. It will cost you a $10 fee for every transaction which will go beyond the monthly limit.

Basing on what we see on the website, this money in the bank deal seems to be offered in all states of the U.S. You can use the online application if you are interested to have this money market account. The bank may require you to send them a copy of your driver’s license or any valid identification.

The money market rate that we have here is accurate as of January 5, 2010 but they can be changed any time. You may visit the website to check for the latest numbers. Consumers may also call their customer service line through 877-446-4200.

Giantbank.com is a subsidiary of Landmark Bank which is headquartered in Fort Lauderdale, Florida. Giantbank.com and its mother company is indexed with the FDIC.

First Internet Bank offers a good money in the bank deal through their Money Market Savings account which earns 1.25% APY for balances through $49,999. Any deposits above the first tier will earn a higher interest rate of 1.50% APY.

Aside from the best money market rates, First Internet Bank only requires a very low initial deposit requirement of $100 to open an account. Remember though to stay above $4,000 to avoid a monthly service charge of $5.

If you will look at the structure of the tiered money market savings, the current interest rates are comparatively lower than the previous yields. The money market though is still a money in the bank deal looking at the overall climate of savings.

Interested consumers can click the apply button from the money market promo page. You can contact their customer service line through 1888-873-3424 if you have questions about their products.

Some perks which come with it are free access to mobile banking, phone banking, online banking, and unlimited deposits. You can monitor your account with the free electronic statements the bank will send you. They also offer for free FinanceWorks which basically can help you with your budget and management of personal finances.

The money market account is also limited to six withdrawals per month. It will cost you $5 for every excess transaction you will complete every month.

Take note that the interest rates page was last updated 18 December 2009. The small fonts say the bank usually updates the site 10am Eastern. It will be best to check the site for the latest figures or call their hotline.

The First Internet Bank is headquartered Indiana. It is covered by the FDIC.

The Atlantic Coast Bank invites consumers to take advantage of their competitive money market rates offered through their iMoney Market Account:

$2,500 - $9,999 1.05% APY
$10,000 - $24,999 1.20% APY
$25,000 - $49,999 1.40% APY
$50,000 - $74,999 1.45% APY
$75,000 - $99,999 1.50% APY
$100K+ 1.60% APY

The best money market rates are still posted on the bank’s website as of January 5, 2010. You can also apply online if you want to enjoy these highest interest rates.

The online application states that all residents of the United States may apply. This means that you must be either a US citizen or you are a resident alien.

Atlantic Coast Bank is headquartered in Northern Florida and Southern Georgia but we were informed that this money in the bank deal is being offered nationwide.

Aside from the attractive money market deals consumers must also check out the interest rates for the checking account and certificates of deposit.

You may call 1800-342-2824 if you need to ask for the details with regard to the account opening, funding, and fees of their products.

The financial rating of the bank dropped over the last year. Bankrate.com issued 1 star and BauerFinancial stamped their soundness and safety report with 2 stars. These evaluations were based on their June 2009 data.

The interest rates might be a good way to boost deposits but remember that as a consumer you must stay within the limits of the FDIC. Atlantic Coast Bank is indexed with the FDCI through certificate number 45826.

Members of the National Education Association can enjoy the best money market rates offered by Bank of America with a current money market rate of 1.20% APY for balances through $500 to $49,999.

The best money market rate is offered to NEA members you just need to mention the priority code HA02B when you call their customer service line 1800-205-8647.

The money market rates are tiered like the following:

Less than $500 0.80% APY
$500 to $49,999 1.20% APY
$50K and over 1.30% APY

There is also an introductory money market interest rate of additional 0.17% on all tiers for the first 60 days of the account. All interest rates that we have here are accurate as of January 4, 2010. These can be changed any time.

Those who wan to take advantage of this money in the bank deal can open an account online with an initial funding of $500. Remember that early withdrawal fees and other charges may affect the earnings of your savings. All interests are compounded on a monthly basis.

The money market account allows only six withdrawals per month. Three of these take outs can be in the form of checks. There are not check writing privileges for the states of Washington and Idaho.

The National Education Association accepts active, retired, or pre-retired certified professionals employed in public education. You can check out their website for the details of registration.

Some of our readers have informed us that they were told by the bank that they do not need to be a member of the NEA to enjoy this attractive money market rates. It seems that as long as you use the priority code, you will be able to open and setup the account.

Heritage Bank of Florida offers competitive money market rates through their Heritage Legacy Money Market Account. The current interest rates are posted on the bank’s website as of January 6, 2010:

The minimum amount to open the money market account is $1,000 and it is also the daily average you have to maintain to earn the disclosed annual percentage yield. It will be wise to stay on or above the $2,500 to avoid a monthly maintenance fee of $10.

By-mail or in-person transactions are unlimited. Third party checks are limited to six per month as regulated by law.

You can monitor your account through different means like phone banking, online banking, and electronic statements. Account holders can also use the bills payment system of the bank.

We cannot find an online application on the website so it seems a branch visit is necessary to open an account. You may want to ask more about the products and services of the bank before signing up for anything. You can call them through 813-909-0944. Don’t forget to ask about how the earnings are computed, means of funding the money market account, and other factors which may affect your savings.

Heritage Bank has branches in Tampa, Wesley Chapel, and Lutz in Florida. The bank is a relatively a small bank which was established in 1999. It is covered by the FDIC.

H&R Block Bank has been giving out attractive money market rates for their Block Money Market accounts in the past year. They are still pushing for these very competitive interest rates:

$0 - $999 0.85% APY
$1,000 - $4,999 1.00% APY
$5,000 - $9,999 1.15% APY
$10,000 - $24,999 1.30% APY
$25,000 - $49,999 1.50% APY
$50K and over 1.75% APY

These best money market rates are still posted on the banks rate’s page but it has an old date of November 23, 2009. It will be best to contact the bank for any changes which may have been made to the figures.

Interested consumers can open this money in the bank deal online. Get some IDs ready since the bank might ask for copies when you apply for the account.

The money market account only requires $25 as an initial funding. You may want to stay on or above the $1000 balance to avoid a monthly service fee.

The main office of H&R Block is in Kansas, Missouri. They also have an office in Dallas, Texas.

H&R Block Bank is covered by the FDIC through certificate number 58124.

The Union Federal Savings Bank still offers a competitive interest rate for their money market account. The current interest rate is at 1.20% APY on all balances starting at $0.01 when you open the account with the required initial deposit of $1.

The best money market rate is compounded everyday and topped up to your account every month. The current interest rates are in effect as of January 5, 2010 but they can be changed any time without notice.

Consumers can complete an online application to open an account. You can also drop by their office in North Providence, Rhode Island. If you have some questions about their products and services, you can call their customer service line through 888-226-0819.

The website does not detail the fees involve when you manage the money market account. It will be wise to ask the bank about the factors which might affect the earnings of your savings before signing up for anything.

The small fonts on the website say that account holders can take out funds without any limit as long as they do it personally at a branch. The federal law however is still in effect in terms of the transfers that you can do every month.

Federal Savings Bank started their operations in 2001 as a community bank in Rhode Island. It was acquired by the First Marblehead Corporation four years ago.

The bank is indexed with the FDIC and covered by certificate number 57189.

The AmericaNet Bank still offers their Mega Money Market account which gives their best money market rate of 2.00% APY for deposits through $35,000. Any balance above the set cap gains 1.00% APY.

You can find the link to the money market promo page on the front page of their website. You can also click the link to apply for this money in the bank special. The small print says that the bank does not require any minimum balance requirements. They also do no collect any service fees.

Along with the money market account comes check writing privileges and an ATM so you can access your money any time. Remember though that like other money market deals, you are limited to six withdrawals per month. It will cost you $5 for every excess transaction you do every cycle. The third Wednesday of the month marks every cycle.

Interested consumers can sign up online. The website also says that AmericaNet will not ask you to mail, fax, or sign any documents. The Mega Money Market account is limited to one individual per address.

You can send in your funds by mailing in a check, transferring funds from other banks, or via wire. The bank might need to do some test deposits just to confirm that you really own the account.

During the application process, it will come handy if you have your social security number and your driver’s license number. Most applications will get an instant approval or declination. Some application may be delayed in case the bank will require additional information from you. If you have any questions you can call them through 1888-210-2028.

AmericaNet Bank is a subsidiary of the All America Bank which is headquartered in Oklahoma City. The mother company has two branches in Oklahoma and has deposits amounting to $72.1 million. AmericaNet serves as the online division and performs all of its operation with the help of its less than 50 staff. All America Bank is indexed with the FDIC.

The Southern Community Bank & Trust is pushing for their best money market rates:

$0 - $4,999 0.25% APY
$5,000- $24,999 1.30% APY
$25,000 - $49,999 1.80% APY
$50K and over 1.80% APY

The interest rates’ page has a date of July 21, 2009 but according to the online customer service representative these current interest rates are still in effect.

You can apply for the money market account online and the bank will be sending you the documents which you to sign and return. According to the bank, they offer their products and services to any state in the U.S.

Upon application, you will be asked for funding information, account number, routing number, and other relevant stuff. The bank will debit from that account and credit your money market number.

This money market special has check writing privileges. You can enjoy the best interest rates even if you tandem your money market account with their fee free checking account. This free checking account checking account does not have any balance requirements and will work well with the money market promo. Account holders may also opt for a money market account not linked to a checking account.

The CSR was not able to inform us about the fees which may affect the earnings of your money market account. We had a lengthy chat with the CSR and we commend the great customer service. You can call Southern Community through 1877-353-7222. The website also has a branch locator to help you find the nearest office from your location.

Southern Community Bank & Trust also offers some competitive interest rates for their 3-year certificate of deposit special at 2.75% APY on all tiers.

The bank is covered by the FDIC.