The money market rates with the Nationwide Bank dropped to 1.50% APY for all balances but remains very competitive. Account holders needs to maintain on or above the $1000 line to avoid a monthly service fee of $8. The current interest rates may change any time.

Interested consumers can open the money market account by completing an application online. This best money market account can be funded by using the ACH transfer services or by mailing in a check. The first book of checks is on the bank. According to their customer service line, the bank does not do a hard credit pull when you apply for an account. You can also request for an ATM card.

We have heard reviews with regard to the ACH transfer facilities of the bank and that they are a bit slow. It would have been a plus to the good interest rates if an online bank has an efficient ACH transfer service. Money market account holders can link as many external accounts as you want. Withdrawal is limited to six per month as guided by the federal law. The transfer limit is also high at $500K. Incoming wire is free while the outgoing transfers will cost you $15. Next day ACH charges $15.

Money market account holders also get access to Allpoint and Visa/Plus ATMs. The bank does not refund ATM fees but you get 2 free ATM non-Nationwide Bank transactions every month.

Account holders can monitor their money market account through the electronic statements that detail the activities. You can also go for the usual paper account statements for no extra charge.

Nationwide Bank was established in 1998. It is covered by the FDIC with certificate number 34710.