Competitive Money Market Rates at 2.50% APY at ADB Bank
The ADB Bank offers their best money market rate for its Direct Wealth Money Market program. The account earns 2.50% APY given on all balances.
This money market requires no minimum balance nor does it collect any monthly fees. It also comes with free first booklet of checks and free use of the online bills payment system. The account limits third party withdrawal to six times per month.
The money market rate is offered nationally. Interested individuals may apply for it online.
The ADB money market earnings have fallen over the past few weeks but remain to be very competitive in the current market situation.
Some consumers reported weakness in the ACH transfer set up of the bank. ADB Bank requires an electronic fund transfer form to be sent to them so they can set up links between accounts. One option to explore is to initiate an ACH transfer from another bank.
It will also be wise to call the bank customer service and confirm if they do a hard credit inquiry upon application to the Direct Wealth Money Market.
The ADB Bank is headquartered in Cedar City in Utah. The bank received 4 stars from BauerFinancial and 3 stars from Bankrate.com.
The bank is covered by the FDIC thru certificate 57962.
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