Waterfield Bank with Money Market Rates at 2.89% APY
The Waterfield Bank has very competitive money market rates at 2.89% APY on all tiers. The account requires a minimum deposit of $1000.
The website does not appear to have any facilities to allow online application but they have a downloadable packet so one can apply by mail or fax. The bank will also follow up on the original documents and copies of proofs of identification of the account holder.
The promo page states that higher balances will incur higher interest rates but the rate page on their website does not reflect this. It will be better to call the bank through their customer service line to inquire about the details of the different tiers.
Early withdrawals are also discouraged to fully maximize the earnings of the program.
The money market account includes check writing privileges of up to three checks per cycle.
The Waterfield Bank has branches located in Indiana, Maryland, Washington DC, North Carolina, Virginia, New Jersey, and Florida.
The bank is insured with the FDIC.
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