Umpqua Thrive Money Market account review |

Umpqua Thrive Money Market account review

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Umpqua Thrive Money Market account
  • $10 monthly pricing
  • Umpqua ATM Card
  • Tie to checking account for overdraft transfers

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Enjoy unlimited deposits, but be wary of obscure interest rates.

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.

APY0.07% on balances of $100,000+
0.05% on balances of $10,000 to $99,999.99
0.03% on balances of $0.01 to $9,999.99
Fee$10 per month
To waive the fee$0 with a $1,000 minimum daily balance
Minimum deposit to open$100
Interest compoundingMonthly
Monthly transaction limit6

What are the benefits of a money market account with Umpqua?

You’ll get an ATM card, mobile banking and FDIC insurance alongside these perks:

  • Unlimited deposits and withdrawals. Enjoy unlimited withdrawals at Umpqua banks and ATMs.
  • Minimal fees. Waive the $10 monthly maintenance fee by maintaining a daily balance of $1,000 or more.
  • 50 free check deposits. Deposit up to 50 checks per monthly cycle into your Thrive Money Market account for free.

What should I look out for?

In addition to the minimum opening deposit of at least $100, be on the lookout for the following drawbacks:

  • Lack of transparency. Umpqua doesn’t post any of its interest rates online, so you’ll need to speak with a customer service rep to find out what annual percentage yield (APY) you qualify for.
  • $10 monthly fee. Unless you can maintain a daily balance of $1,000 or more, expect to pay a $10 monthly maintenance fee.
  • Limited availability. Umpqua accounts are only available in Washington, Oregon, Idaho, California and Nevada.
  • Limited transfers. As with most savings products, the Umpqua Thrive Money Market account is limited to six transactions monthly, excluding Umpqua ATM and bank branch withdrawals. Umpqua may close your account if you go over.

Compare with other savings accounts

Name Product Fee Minimum deposit to open Minimum balance to earn interest Interest rate (APY)
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How do I open an account?

  1. Go to Umpqua’s website and click Open now under the Thrive Money Market account.
  2. Review the information you’ll need to complete your application. Click Continue.
  3. Enter your full name, Social Security number, address, and employment status. Click Continue.
  4. Review your submitted information and make any necessary changes. Next, read and accept Umpqua’s account disclosure and e-sign authorization. Click Continue.

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.


  • Be a US citizen.
  • Be at least 18 years old.
  • Reside in California, Washington, Oregon, Idaho or Nevada.
  • Have a US residential address.
  • Have a Social Security number.
  • Have a valid bank account.

Required information

  • Primary home address.
  • Valid email address.
  • Valid phone number.
  • Social Security number.
  • Driver’s license or valid state ID.
  • Bank account number and routing number of the account you plan to use to fund your money market account.

How do I deposit or withdraw my money?

You can access the funds of your Umpqua Money Market account in four different ways:

  • Online deposit. Transfer funds electronically to or from an external bank account.
  • Mobile check deposit. Using the Umpqua mobile banking app for Android and iOS, deposit a check using your mobile device.
  • ATM. Deposit, withdraw or transfer funds from any of Umpqua’s surcharge-free ATMs, or withdraw cash at any ATM for a fee.
  • In person. Deposit cash or a check and withdraw funds in person at an Umpqua Bank branch.

How can I get in touch with customer service?

Umpqua’s customer service is available in three different ways:

  • Phone. Call 866-486-7782 on weekdays from 7 a.m. to 7 p.m. PT or Saturday and Sunday from 8 a.m. to 5 p.m. PT.
  • Email. Complete an online form on Umpqua’s website for an email reply within one business day.
  • In person. Visit an Umpqua bank branch during business hours to speak with a customer service representative in person.

Bottom line

Umpqua’s Thrive Money Market account comes with ATM access, 50 free check deposits and the option to waive its $10 monthly maintenance fee with a daily balance of $1,000 or more. But it doesn’t disclose its interest rates online and you’ll need a minimum opening deposit of at least $100.

Investigate your account options with other providers before you make a decision.

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