Amboy Direct invites consumers to take advantage of their Money Market Maximizer program which has current interest rates of as much as 1.51% APY. The money market deal is has the following tiered structure:

$0 to $4,999 No Interest
$5,000 to $29,999 1.01% APY
$30,000 to $99,999 1.51% APY
$100K to $250K 1.51% APY

Interested consumers can open a money market account for as little as $100. The best money market rates can be enjoyed when your deposit reaches at least $30,000. You can apply for a money market account online, over the phone, or via mail. The bank may request for some proof of identification when you open your account.

Funding of your money market account can be done by linking an existing checking account. This will also be your channel to withdraw funds or deposit money through transfers between your Amboy Direct account and other bank.

When you send in a check via mail to deposit to your Amboy Direct money market account, it will be reflected after 5 to 7 days. Fund transfer from your Amboy account to an external checking account will be done by 3 business days. There is also the Me-to-Me Checking which is an alternative way to withdraw from your Money Market Maximizer.

According to the details of the account, they usually do not charge fees unless you will use special services like the Same-Day Transfer. The cost for going beyond the six allowed transfers and withdrawals is not posted on the website.

All transactions for this Amboy Direct MMA are done online. They do not allow branch transactions. Also note that accounts are automatically closed when they fall to zero balance. All accrued interest will be forfeited. This is also true for balances below $1.

There is also a money market special for new New Jersey customers. You can earn an interest rate of 2.25% APY locked for 3 months if you maintain an account with at least $30,000 deposits.

You can call Amboy Direct at 877-22AMBOY if you have any questions about their Money Market Maximizer. The Bank is FDIC insured.