ADB Bank invites consumers to take advantage of the high yield money market deal they offer called Direct Wealth Money Market. The current money market rate for this one is 1.60% APY.

This money market account does not require any balance requirements and does not charge any service fees. Your first order of checks is free. Account holders can also access their online bills payment facility for free.

Like any other money market programs, third party withdrawals are limited to six every month. Three of this may be taken out as checks. Fees which may affect your earnings are not detailed on their website.

Interested consumers can fill up an online application. We also confirmed that the best money market rates are being offered to consumers from all states. You can also call the bank through 1800-549-4828 to apply.

The current money market rate is a bit lower compared to the going on rates a few months back. It is still very competitive though when you look at the other offerings from other banks. This interest rate may change any time so it will be wise to check the bank’s website before filling out any forms.

We have received reports from some account holders that there is a big room for improvement with ADB’s ACH transfer facilities. They share information that consumers who want to transfer funds still need to mail of fax an EFT or electronic funds transfer authorization form. You also have to confirm trial deposits and send a request for a funds transfer via email. The bank representative will notify you by phone when the transfer is completed.

One upside of the ACH transfer though is that they do not block deposits or debits from other banks. If you want it more convenient, it will be best to initiate your ACH transfers from another bank.

According to the bank, they do not perform a hard credit pull but they do a verification with ChexSystem upon application.

ADB Bank is a small bank located in Cedar City in Utah. The bank is insured with the FDIC through certificate number 57962.