If you’re looking for competitive money market rates, you might want to look into Nationwide Bank’s MMA deal. This could possibly be the best money market rate today, earning up to 1.15% APY. Of course, the rate has dropped dramatically, compared to two years ago, when this account was first offered, but in the general perspective of things, this isn’t a bad deal at all.

To open this money market account, you need to maintain a minimum balance of $1000. If your balance goes below this sum, you’ll be obliged to pay $8 a month. You have to keep in mind, though, that this is a liquid account, and as liquid accounts usually go, the rates tend to fluctuate. Before opening an account, it’s best for you to visit the bank’s rate page, first.

A lot of current account holders with the bank stick with the service because of their stable ACH transfers. If you feel like you’re going to be transferring funds electronically quite frequently, it’s best if you open this account. Their ACH service allows:

• Fund transfers from other banks
• Unlimited number of linked accounts
• A maximum of six outgoing withdrawals, which cost $5 each
• A cap of $500,000 for each transfer

The only downside with the bank’s ACH service lately is that there seems to be a lot of delays. While they claim that they can transfer funds in as little as 3 days’ time, there have been a lot of complaints about some transfers taking as long as five days to a week.

On the plus side, you can enjoy your first ordered checks for free. Nationwide Bank can also issue you an ATM card if you wished to have one, and this is also free of charge. Nationwide Bank is still a fairly young bank. It was established in 1998, and is pretty stable as a financial institution as such a young age.

Recently, they’ve been given a five out of five rating from both Bankrate.com (a rare occurrence) and BauerFinancial.com. The bank is a member of the FDIC, and has federal insurance under FDIC Certificate # 34710.