Available for residents of the United States, Bank7 is offering 0.65% APY when you open an Online Money Market account. Keep reading below to learn everything you need to know about Bank7.
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About Bank7 Online Money Market
Bank7 is a full-service Oklahoma-based community bank chartered in 1901. In an age of electronic banking transactions and faceless decision-makers, Bank7 believes in customer satisfaction, community support, and knowing your banker.
I’ll review the Bank7 Online Money Market account below.
Bank7 Online Money Market Money Market Rate
To earn this competitive rate, simply have an opening deposit of $5,000 then you must maintain that $5,000 daily balance to receive your monthly interest.
- Account Type: Online Money Market
- Interest Rate: 0.65% APY
- Minimum Balance: $5,000
- Maximum Balance: $999,999.99
- Availability: Nationwide (Bank Locator)
- Credit Inquiry: Hard pull or soft pull? Let us know
- ChexSystems: Unknown, Let us know
- Opening Deposit: $5,000
- Credit Card Funding: Unknown. Let us know.
- Monthly Fee: $15 monthly fee can be avoided with a balance of $5,000 or more
- Early Termination Fee: None listed
American Express® High Yield Savings Account - You earn 0.60% interest rate along with no minimum deposits or monthly fees. Amex High Yield Savings account 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 high yield savings account website, the funds will be reflected in your Current Balance and begin earning interest.
Some other features from American Express High Yield Savings Account 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 Bank and CIT Bank accounts offer great rates available nationwide which I recommend.
|Chase SavingsSM||$150 Cash||Review|
|Axos My Savings Builder||Up to 0.70% APY||Review|
|Axos Bank High Yield Savings||0.61% APY||Review|
|Axos Bank High Yield Money Market||0.60% APY||Review|
|American Express High Yield Savings||0.60% APY||Review|
|CIT Bank Money Market||0.55% APY||Review|
|Discover Bank Online Savings||0.55% APY||Review|
Bank7 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 Bank7 ACH capabilities.
How to Earn Bank7 Rate
- Open an Online Money Market account from Bank7 with an opening deposit of $5,000.
- Interest is paid monthly with a minimum daily balance of $5,000
|Balance Requirement||APY Rate|
|$5,000.00 – $999,999.99||0.65% APY|
Why You Should Sign Up For This Account
- Competitive, tiered variable rate of interest
- Money is insured by FDIC so you can have peace of mind
- Interest is paid monthly
- Unlimited withdrawals in person, at ATM, by mail, or by messenger
- Unlimited deposits
This rate is great for balances between $5,000-$999,999.99. The opening deposit automatically waives the monthly fee, leaving you less to worry about. Take advantage of the services they have to offer along with these savings.
Let us know about your experience with this bank and comment below. For more bank offers, see the complete list of Best Bank Rates!
Check back often to see the latest info on Bank7 Online Money Market Account.