Champion Bank is pushing for their money market checking account which has the following competitive money market rates:

$0.01 0.50% APY
$2,500 0.75% APY
$10,000 1.00% APY
$25,000 1.25% APY

These best money market interest rates can be enjoyed by opening the account with an initial deposit of $100. The interest rates are posted on the rates page as of January 5, 2009. Earnings compound on a daily basis and credited to your account every month. You can monitor your account with the monthly electronic statements from the bank.

These top money market rates may be changed any time without notice so it will be best to check with the bank for the latest numbers.

The promo page of the money market account says that the bank does not impose any monthly fees and no minimum balance requirements. The basic checks for your money market account come free of charge. You need to pay in case you want to request for custom checks.

Like other money market accounts, you are limited to six withdrawals or transfers per month. It will cost you $5 for every transaction in excess of the free take outs every month. There is also a $5 service charge in case your account will not have any activity for 24 months.

It seems that a bank visit is necessary to open an account. Champion bank is headquartered in St. Louis, Missouri. If you want to contact the bank for information you can dial their toll free number 1866-672-9983.

The bank is covered by the FDIC.