MyBankingDirect is currently offering their Money Market Account with an attractive 1.15% APY attached. Be sure to scroll through the table below if you’re interested. When you see MyBank Direct’s MMA, just click the green button that says “Next” to proceed. After that, make any balance $5,000 and over and you’ll trigger the APY. if you aren’t able to make the $5,000 in deposit value, you could still settle with a 0.25% APY. Note that a minimum opening deposit value of $2,500 is required to open. As for the additional benefits, you’ll also receive check writing capabilities, mobile deposit capability and so much more!
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MyBankingDirect Money Market Account Information:
- Learn More (See table above)
- Account Type: MMA
- Rate: 1.15% APY
- Availability: Nationwide
- Expiration Date: None
- Soft/Hard Pull: Hard Pull
- Direct Deposit Requirement: DD is not required
- Monthly Fee: $0.00
- Additional Requirements:
- Minimum Opening Deposit stands at $2,500.
MyBankingDirect Benefits/Services:
MyBanking Direct offers one of the highest competitive rates nationwide with 1.15% APY. Setting such a perk aside, lets discuss about any other notable features attached. Firstly, there’s no monthly fees, no minimum balance requirement, and you’ll be able to transfer money from the ease of mobile depositing.
Not only that but their account do have check writing capabilities and Sweep functionality which allows you to select the balance you want to maintain in your My Banking Direct Checking account and have automatic transfers of the funds over to the pre-selected balance amount from your checking. Your balance will be computed daily, paid out monthly.
MyBankingDirect Savings Rate:
Comparing Banking Direct’s 1.15% APY to GS Bank’s 1.20% APY, you can already notice the .05% difference that GS Bank has ahead of Banking Direct, however, this should not stray you from picking up an account with them. It may seem weird comparing an MMA to an online savings account in this case, but you should already be aware that there are more limitations attached to Online Savings accounts versus Money Market Accounts when it comes to access to your funds, and especially transferring your money.
You should expect easier access to your funds and less limitations attached to your withdrawals with BankingDirect’s MMA, however, that is at the expense of a pretty high $2,500 in minimum opening deposit requirement. Also, you would need $5,000 in deposit value to trigger the necessary rate.
Conclusion:
With a BankingDirect Money Market Account, you’ll be able to earn 1.15% APY on all of your deposits if you are able to make the necessary $5,000+ in deposits. All you have to do is scroll through our best bank rates table above where the introduction sits and find My BankingDirect’s MMA. Be sure to click “next” and proceed to making the necessary opening funds to the account. It should go without warrant to say that this account may prove to be much more attractive with a sign-up bonus attached. Find all the best bank rates from our exclusive list nationwide!
