Available to residents nationwide, MemoryBank Money Market is offering a generous 0.50% APY. Definitely continue reading below for everything you would need to know about the attractive account and rate!
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MemoryBank Money Market Account Review
MemoryBank is a national branchless all-digital banking platform. As a division of Republic Bank & Trust Company, MemoryBank provides its account holders the peace of mind that comes with knowing it is a Member of FDIC with the highest possible A+ rating from the Better Business Bureau.
In addition to the rate from this bank, check out our list of best rates Savings, Money Market, and CD accounts.
If you are interested in expanding your financial future, definitely use our bank bonuses page to find other offers. Some popular bank offers include Chase Bank, Discover Bank, TD Bank, Huntington Bank, HSBC Bank and many more.
I’ll review MemoryBank Money Market Account below.
MemoryBank Money Market Account Rate
To earn this generous rate, just open with a balance up to $1,000,000. After that, you can earn the high rate and in addition, enjoy no monthly fees.
- What you’ll get: 0.50% APY
- Eligible account: Money Market Account
- Credit inquiry: Soft Pull
- Where it’s available: Nationwide
- Opening Deposit: $0.01 Minimum
- Monthly fee: No Monthly Fees
- Early Termination Fee: None listed, check with CSR
(FDIC Insured)
How to Earn MemoryBank Rate
- Open a new Online Money Market Account with MemoryBank.
- Minimum balance of $0.01 is required. Only new funds qualify for the APY rate.
- 0.50% rate applicable to account balances of $0 to $1,000,000.
| Balance Requirements | APY Rate |
| $0.01 – $1,000,000 | 0.50% |
| $1,000,000+ | 0.01% |
MemoryBank Account Features
- Market-leading 0.50% APY for balances of $0 or more (earn 0.01% APY for balances of $1,000,000+).
- Enjoy no monthly fees.
- Minimum opening deposit of $50 required.
- Easy to transfer via bank transfers, mobile deposit, wire transfer or check.
- Access your account anytime, anywhere.
- FDIC insured of up to $250,000
Conclusion
MemoryBank is offering a decent APY Rate for their Money Market account. It’s nice to know you earn the 0.50% APY on all balances up to $1,000,000. However, if you want to avoid the fees, keep in mind you need to have a balance greater than $10,000.
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