Available nationwide, Banesco is offering a rate of 1.35% APY when you open an Money Market Account. Continue reading below to learn everything you need to know about Banesco.
About Banesco Money Market
Banesco 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 Money Market Account below.
| Balance Requirement | APY Rate |
| $300 or more | 1.35% APY |
Banesco Money Market Rate
- Account Type: Money Market Account
- Interest Rate: 1.35% APY
- Availability: Nationwide
- Minimum Balance: $300
- Maximum Balance: None
- Credit Inquiry: Unknown
- Opening Deposit: $2,500
- Direct Deposit Requirement: None
- Monthly Fee: None. $5 fee if balance falls below $2500.
- Early Termination Fee: None listed
(FDIC Insured)
Banesco ACH Capabilities & Limits
| ACH Type | Speed | Daily $ Limit | Monthly $ Limit | Notes |
| Push | ? | $5K | $10K | |
| Pull | ? | $5K | $10K |
You may make 6 withdrawal(s) from your account every statement cycle.
First 90 days transfer amount additional limitations: withdrawals and transfers are limited to $5,000.00 per day or $10,000.00 per month.
Editor’s Note: Help us with the table above in the comment section if you have experience with ACH capabilities.
How to Earn Banesco Rates
- Open a Savings account from Banesco.
- 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 1.35% APY as long as the account balance is above $300.
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
Bottom Line
For those of you looking for a savings account with a high APY rate, you may want to consider Banesco’s Money Market Account! If you meet the minimum balance of $300, you can start gaining interest at a high rate as soon as they post to your account.
Note: Interested in Bank Bonuses? See our favorite banks including HSBC Bank, Chase Bank, Huntington Bank, Discover Bank, TD Bank, or CIT Bank.
For more bank offers, see the complete list of Best Bank Rates!
Check back often to see the latest info on Banesco Money Market Account.
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