One West Bank offers their E-Money Market account that has a current interest rate of 1.75% APY for balances of $10,000 or more. Deposits with a balance between $1000 and $9999 earn 0.75% APY. This money market rates differ from their branch rates and can only be enjoyed if you apply online.

Interested individuals can open a money market account online. This account needs $1000 initial funding. You also need to stay on this balance on the minimum if you want to avoid a monthly service charge of $7.

The new money market account can be funded by sending the bank a check, funds transfer, wire transfer, or by moving funds from your other OneWest Bank account.

The money market rates posted here may change any time without notice. It will be best to view their website for any update on the figures. The earnings of your money market are compounded on a daily basis and credited to your account on a monthly basis. The website also does not detail other fees which may affect your earnings.

In person, you can make unlimited withdrawals and transfer using an ATM or by processing it over the counter in one of their branches. Phone and online transfers are limited to six per month, three of which can be issued as checks.

The branch rates of their regular money market account are really lower than the e-money market. If you are not comfortable doing everything online you can opt for their Premium Money Market when you drop by a branch. The latter offers almost the same interest rates as the online money market account.

OneWest Bank operates their main office in Pasadena, California. They have a lot of branches which serves most of the southern portion of the state.

OneWest Bank is covered by the FDIC.