Available nationwide, Banesco USA is offering a rate of 1.51% APY when you open an Banesflex Money Market Account. Continue reading below to learn everything you need to know about Banesco USA.
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About Banesco USA Banesflex Money Market
Banesco USA was founded in 2006 to offer banking services and solutions to business owners, their families and consumers within the communities they serve. Their mission is to provide the best and safest banking experience protected by the latest technology to make banking more convenient to their customers. Banesco has physical branches, but they are also accessible online to everyone nationwide.
I’ll review Banesco USA Banesflex Money Market Account below.
Banesco USA Online Savings 1.51% Rate
To earn this generous rate, you must maintain a high minimum balance of $100,000. Balances below the minimum balance earn a lower rate of 1.15%.
- Account Type: Banesflex Money Market Account
- Interest Rate: 1.51% APY
- Availability: Nationwide (Branch Locator)
- Minimum Balance: $100,000
- Maximum Balance: None
- Credit Inquiry: Unknown
- Opening Deposit: $2,500
- Credit Card Funding: Unknown
- Direct Deposit Requirement: None
- Monthly Fee: None
- Early Termination Fee: None listed
American Express Personal Savings Account - You earn 1.70% interest rate along with no minimum deposits or monthly fees. Amex Personal Savings has been my favorite Hub account for the past 5 years. Using this account to Pull/Push your money is absolutely necessary when you have many accounts. Here's why:
*No dollar limitations for ACH transfers - When you find a top bank rate account, you don't want to be limited to just $5K or $10K transfers. Amex Savings will let you transfers as much as you want whether you are pulling or pushing money from and to an external bank account.
*1 to 2 business days ACH transfers speed - With top-notch user interface, you get your money to another external account or pull money from another bank account within a day or two.
*No loss of interest during transfers - On the day you initiate your transaction on the Personal Savings website, the funds will be reflected in your Current Balance and begin earning interest.
Some other features from American Express Personal Savings include Free Wire Transfers, 3 maximum linked accounts, and maximum 6 ACH withdrawals per month.
Savings account offers are frequently updated. Find the best nationwide Savings/Money Market rates here, and the best Savings account bonuses here. The Axos UFB High Yield Savings and CIT Bank Savings Builder accounts offer great rates available nationwide. The Discover Online Savings and Chase SavingsSM account have nice sign-up bonuses.
|Discover Bank Online Savings||1.60% APY + $200 Cash||Review|
|CIT Bank Savings Builder||1.75% APY + $100/$200 Bonus||Review|
|UFB Direct High Yield Savings||1.90% APY||Review|
|Betterment EverydayTM Cash Reserve||1.83% APY||Review|
|American Express High Yield Savings||1.70% APY||Review|
Banesco USA ACH Capabilities & Limits
|ACH Type||Speed||Daily $ Limit||Monthly $ Limit||Notes|
Editor’s Note: Help us with the table above in the comment section if you have experience with ACH capabilities.
How to Earn Banesco USA Rates
- Open a Savings account from Banesco USA.
- Input your info – Provide your name, address, phone, email and social security number or Tax ID.
- Fund the account within 14 days- Transfer funds electronically from an internal account here or an external account at another bank.
- Earn 1.51% APY as long as the account balance is above $100,000.
|Balance Requirement||APY Rate|
|$100,000 or more||1.51% APY|
|$25,000 to $99,999.99||1.25% APY|
|Balances under $25,000||No interest|
Why You Should Sign Up For This Account
- Opening an account is simple and quick online
- No hidden fees or monthly requirements to maintain
- Online and mobile banking for on the go access 24/7
- Allowance of up to six withdrawals and transfers per monthly statement cycle
- FDIC insurance up to the maximum of $250,000 allowed by law
For those of you looking for a savings account with a high APY rate, you may want to consider Banesco USA’s Banesflex Money Market Account! If you meet the minimum balance of $100,000, you can start gaining interest at a high rate as soon as they post to your account. Let us know about your experience with this bank and comment below.
For more bank offers, see the complete list of Best Bank Rates!
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