Amegy Bank continues to push for their best interest rate money market account that earns 1.40% APY on all tiers. These money market rates may change any time so it will be best to frequent the bank’s website for an update.

Interested individuals can open this money market account by filling up an application online. The questions might be a bit intrusive asking for your source of income, employment details, net worth, and other pertinent infos.

The money in the bank deal is offered to people from any state. The minimum initial deposit is $1000. The bank also charges a service fee of $12 in case you fall below this minimum daily balance.

The earnings for this money market account are compounded and credited on a monthly basis.

Like other offers from the bank, transfers and withdrawals are limited to six times per month as required by federal law. Amegy will collect $20 for every excess transaction above this monthly limit.

Other fees which may affect your earnings are the over the counter withdrawal which debits $3 and the $5 charge for funds transfer over the phone which exceeds 3 transactions per month.

It will be practical also to opt for the monthly electronic statements over the usual paper account statement. A $10 fee is charged monthly in case you want to have a paper account statement.

Incoming transfers from other Amegy accounts or external accounts with other banks are free. Outgoing transfers cost $2.50 per transaction.

The Amegy Bank is headquartered in Texas with over 90 branches spread across the state. It is covered by the FDIC.