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This online money market account boasts a competitive interest rate, no minimum balance requirements and unlimited deposits. But in-person support is limited and account fees could hinder your savings potential.
0.45%
APY
$15 per month
Fee
$5,000
Minimum deposit to open
Review by
Shannon Terrell is a writer for Finder who studied communications and English literature at the University of Toronto. On any given day, you can find her researching everything from equine financing and business loans to student debt refinancing and how to start a trust. She loves hot coffee, the smell of fresh books and discovering new ways to save her pennies.
The Bank7 High Rate Online Money Market account is best for those looking for a competitive APY. With a 0.45% APY, ATM access and on the go mobile banking, this money market account offers plenty of perks.
But applicants need to be ready with a $5,000 opening deposit and checks don’t come free.
Download the Bank7 Mobiliti mobile banking app to fund your account using the mobile check deposit feature. Or, mail a check to:
Bank7
1039 NW 63rd Street
Oklahoma City, OK 73116.
If requested, you’ll receive your ATM card and personal checks by mail within seven to 10 business days.
Before you apply, make sure you meet this account’s eligibility criteria:
Have the following information ready for your online application:
Enjoy mobile banking, online banking and bill pay along with the following:
This money market account is limited to new Bank7 customers and has a few other potential drawbacks:
Access the funds of your Bank7 High Rate Online Money Market account in six ways:
Savings products are plentiful with Bank7: