Gold Canyon Bank is still pushing for their best money market rate through their high yield money market program. The account requires $1000 to open. This money market deal has the following tiered earnings structure:

Less than $9,9999 1.26% APY
$10K - $25K 1.81% APY
$25K - $100K 1.87% APY
$100K - $250K 1.97% APY
$250K- $500K 2.02% APY
$500K or more 2.17% APY

The money market rates with Gold Canyon have been known to have very modest drops despite the fall of interest rates recently. Interest of this money in the bank deal is compounded and credited on a monthly basis.

The current interest rates are posted on the bank’s website but may vary after deposit. It will be best to contact them first before signing up for anything.

This money market deal, like the usual, allows six withdrawals and charges a fee of $10 for each transaction in excess. Three of these take outs could be in the form of checks.

The bank does not charge any fees if you can maintain at least a $1000 deposit. Otherwise, they collect $9.95 every month.

This is a local deal. There are no online forms that consumers can use so we are assuming that this requires a bank visit. The bank has offices in the suburbs of Phoenix, Arizona particularly in Peoria and Gold Canyon.

The reviews given with regard to the performance and safety of the bank are average. Bankrate.com gave Gold Canyon Bank 2 stars while BauerFinancial issued 3 stars. These evaluations were based on their March 2009 data.

The bank has been indexed by the FDIC since 2006 and is covered under certificate number 58066.