Customers Bank has a money in the bank opportunity on their money market account which has a very attractive interest rate. The bank requires you to deposit a minimum of $10,000 to open a money market account and earn an interest rate of 1.20% APY. You must also maintain a daily balance of at least $1,000 to avoid the $5 monthly service fee. The maximum deposit that you can make on this best money market account is $500,000.

The same with other money market deals, you are allowed to make up to 6 transfers or withdrawal per statement cycle according to the Federal law. You can process your transfer or withdrawal thru check, telephone, preauthorization, or automatic transfer. There will be a $5 fee whenever you process a transaction if you already exceed the banks limit.

You can also manage your account using online banking and at the same time pay your bill online to avoid the trouble of going out to make a payment. You can also review your account by subscribing to electronic bank statement. If you have questions or concerns with this money market account you may call their customer service line thru 610-933-2000 or 866-476-2265.

Individuals who want to take advantage of this money market rate may complete the application online to open an account. Another option is to visit one of the bank’s branches near you. Their offices are located in the state of New York, Pennsylvania, and New Jersey. Make sure to have your identification card with you when you open an account since the bank will be requesting for a copy.

Customers Bank was founded in 1991. They were providing finacial services to consumers and business in Philadelphia. Currently the bank grew and has been serving 3 different states and already reached $1.69 billion in assets. The bank is also registered under FDIC certificate number 34444.