The Stonebridge Bank invites consumers to take advantage of their best money market rates offered through their Premier Money Market account. The current money market rate is pegged at 1.40% APY for balances of at least $50,000.

This money market account can be opened for a minimum initial deposit of $1,000. This is also the daily balance that should be maintained to avoid a monthly service charge of $10.

Interest consumer can easily open an account by using the online form found on the website of Stonebridge. The bank may ask you to complete a signature card and request you to send them a copy of your driver’s license as proof of identity. Processing of applications usually take one business day but the account will be opened upon receipt of the funding.

The interest rate that we have here is still posted as of November 3 but this may be changed any time without notice. You can inquire through their customer service hotline 1-800-807-1666.

Take note that fees will affect the earnings of your account. Aside from the monthly service charge when your deposit falls below the minimum required balance, there can also be a $15 fee if you go beyond the 6 allowed pre-authorized withdrawal on a monthly basis.

Account holders who decide to close the account within 90 days after opening will also be charged $20. Incoming wires are all free.

Stonebridge Bank is headquartered in West Chester, Pennsylvania. They serve the market of Pennsylvania and Maryland with the stonebridgebank.com catering to their retail customers located in the other states. The bank has offices in West Chester, Exton, and Warminster in PA, and in Bel Air, Maryland.

Stonebridge Bank has a 2-star rating for soundness and safety with bankrate.com. The bank is insured with the FDIC.