Corus Bank invites consumers to take advantage of the benefits of their Ultimate Money Market account which yields 2.30% APY. It only takes $100 to open this money market account.

Like other money market accounts, this one is also limited to three checks per statement as required by the federal law. Free checks come when you open an account.

This offer is available nationally. The bank’s representative informed us that no hard credit pulling is done. Corus Bank requires sending in a copy of the account holder with the check for funding upon opening.

One of the downsides of this money in the bank deal though is the minimum balance requirement of $10000 or $20K average to avoid their imposed monthly fees.

Corus Bank has no ACH transfer in place but they can be initiated from your other bank accounts. Wire transfer is free for incoming and is charged $25 for outgoing.

The interest is compounded on a monthly basis and credited on a same interval. Account statements are mailed on a monthly basis with no option for online statements.

Corus Bank has offices spread across the Chicago area. This bank has been affected by the bursting of the mortgage bubble. It will be best to stay within the limits of the FDIC.

The bank is covered by the FDIC through certificate # 13693.