Admirals Bank is still pushing for the best interest rate with their money market account called Anchor Companion Money Market account. You can earn an interest rate of 1.15% APY and reimburse up to $30 of foreign ATM fees every month when you meet the following monthly requirements:

• you must be a new account holder of Admirals Bank
• you must open an Admirals Companion Checking account
• combine both checking account and money market account balances to receive foreign ATM reimbursement
• setup at least one direct deposit or ACH

You can start earning this best interest rate when you make an initial deposit of $20,000 to open a money market account. This money in the bank deal does not require any minimum balance to earn this best interest rate. This best money market account is only open to individual account holders. In case you do not meet the requirements for the month you will then earn their standard interest rate of 0.10% APY, but will still get a chance to earn this best money market rate on the following month when qualifications are met.

The same with other money market accounts, you are allowed to make up to 6 transfers or withdrawals which can be made through pre-authorized, check, phone, in person, or automatic per statement cycle. Make sure that you will not exceed the limit to avoid fees that may be charge to you whenever you process a transaction.

In addition, this best money market deal also allows you to access your account anytime when needed by subscribing to online banking. You can even make bill payments and review your statements online. If you do not have internet, you may take advantage of the banks free telephone banking. Please remember that the interest rate for this money market account may change once account is opened. Fees may also reduce the earnings.

It appears that you need to visit one of the bank’s branch to open an account. You also need to bring valid picture identifications like driver’s license, social security card, or passport since the bank will be requesting for a copy of these ID’s. You may want to call the bank first if you still have questions about their money market account at 800-556-6600.

Admirals Bank is located in the cities of North Kingston, Johnston, Woonsocket, Providence, Warwick, Coventry, and Cranston in the state of Rhode Island. They also have branches in Massachusetts state in the cities of Northbridge and Raynham.

The bank was federally chartered in 1967. Admirals Bank is a member of the Federal Deposit Insurance Corporation and has a certificate number 27015.