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finder.com’s rating: 2.9 / 5.0
★★★★★
Umpqua Bank’s Thrive Money Market account provides ATM access, mobile check deposit and the option to waive monthly fees. But you’ll need a $100 opening deposit and transfers are limited.
N/A
APY
$10 per month
Fee
$100
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.
Umpqua’s Thrive Money Market account is best for those who have at least $1,000 and are in one of the five states it serves. The account comes with ATM access, 50 free check deposits and the option to waive its $10 monthly maintenance fee.
But it doesn’t disclose its interest rates online.
To complete your Thrive Money Market account application, you’ll need to provide Umpqua with the routing and account number of the external bank account you plan to use to fund your new account.
Umpqua will make two small test deposits and withdrawals of less than $1 to your funding account. These deposits typically take up to three business days to appear in your external account.
Once you verify these test deposits, you’ll be able to fund your Umpqua Money Market account.
You’ll get an ATM card, mobile banking and FDIC insurance alongside these perks:
In addition to the minimum opening deposit of at least $100, be on the lookout for the following drawbacks:
If you’re looking for a high-yield savings account, you’ll want to keep looking. As always, compare your options when choosing a money market account.
You can access the funds of your Umpqua Money Market account in four different ways:
Umpqua’s customer service is available in three different ways:
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
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