Blue Gate Bank is currently offering residents of California an attractive 1.51% APY when you sign up and open a “New Money Only” Checking Account and Blue Gate Money Market Account with a minimum balance of $25,000 by January 31, 2017. For those who are not familiar with the current offer, the bank is offering qualified customers a generous rate when you have met the necessary requirements. Not only do you get to enjoy great features such as a debit card and online banking, but you will also benefit from one of the most attractive rates on the market! Interested? Be sure to head on over to your local branch as soon as you can!
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Blue Gate Bank Account Summary:
- Apply Now
- Account Type: Checking Account and Money Market Account
- Rate: 1.51% APY
- Availability: CA
- Expiration Date: 01/31/2018
- Soft/Hard Pull: Soft Pull or Hard Pull? Let us know!
- Direct Deposit Requirement: None
- Additional Requirements:
- Minimum of $500 to open an account
- Fill out the membership application
- Avoid Monthly Fee: $5 Avoidable
- No monthly service fee on minimum daily balances of $500+
- Early Termination Fee: None
Blue Gate Bank Account Requirements:
- Open a new non-interest bearing Business or Personal Checking Account with a minimum balance of $2,500.
- Open a new Blue Gate Business or Personal Money Market Account (MMA) with a minimum balance of $25,000
- Continue to maintain a daily balance of $25,000 or more in the Blue Gate Money Market account to earn the 1.5% APY on the account through January 31, 2018.
Blue Gate Bank Fine Print:
- On February 1, 2018, the APY will change to Blue Gate Bank’s prevailing rate for the Blue Gate Business or Personal MMA.
- No interest is earned on any day that the daily balance falls below $25,000.
- Interest is compounded daily and paid monthly.
- Fees and withdrawals may reduce earnings.
- Federal Regulation D limits withdrawals and transfers made from a MMA to a combined total of six per statement cycle.
- Maximum combined deposits of $5,000,000 per client for this promotion.
- New money only
Conclusion:
If you are a current resident of California and would like to start a new banking experience, then the current promotion from Blue Gate Bank is the one for you! For a limited time, open a new checking account as well as a MMA account and you could be well on your way to earning your added bonus. However, I would not personally recommend this promotion simply because the requirements needed are higher than your traditional MMA account. Although you do get to enjoy more features from the checking account, you could get a higher rate from other banks. However, if you are not currently interested, be sure to check out our list of Best Bank Rates for all your banking needs!
