Discover Bank invites consumers to take advantage of their highest money market rates which kicks off at 1.10% APY for balances of $2,500 to $5,000. Highest money market rates are given for deposits $100K and up.

The money market account is structured in the following manner:

$2500 to $4999 1.10% APY
$5000 to $9999 1.10% APY
$10K to $24,999 1.50% APY
$25K to $49,999 1.50% APY
$50K to $99,999 1.50% APY
$100K and up 1.65% APY

The most attractive money in the bank deal is the mid-tier money market account. The 1.50% APY for balances starting at $10K is very competitive compared to other money market offerings of other banks.

This money market account can be opened with an initial deposit of $2,500. This is also the balance you need to maintain in order to avoid a monthly service fee of $10.

Interested individuals can open an account online. They also have CSRs through 1800-347-7000 available to assist you.

The money market account limits pre-authorized take out to six transactions per month. A certain fee per transaction is imposed if you go beyond the allowed number of withdrawals.

Earnings of your money market account are compounded on a daily basis and credited every month. Once you put in a deposit it is reflected on your account on the business day itself unless you made the deposit after 2PM EST.

Discover Bank has been in business since 1911 serving the community of Greenwood, DE. It has an excellent rating of 4 stars with Bankrate.com.

Discover Bank is covered by the FDIC.