Available for residents nationwide, First Internet Bank is offering a Money Market Savings Account with 0.50% APY.
Continue reading below to learn everything you need to know about First Internet Bank.
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About First Internet Bank Money Market Review
First Internet Bank was founded in 1998, offers money market rates that are 5X the national average, and have an A health rating.
They offer a competitive interest rate that, along with its money market account offering, makes sure customers get the service they need.
I’ll review First Internet Bank Money Market Savings below.
First Internet Bank Money Market 0.50% Rate
- Account Type: Money Market Savings Account
- Interest Rate: 0.50% APY
- Minimum Balance: $100
- Maximum Balance: None
- Availability: Nationwide
- Credit Inquiry: Soft Pull
- Opening Deposit: $100
- Credit Card Funding: Unknown
- Monthly Fee: $5, waived with $4,000 daily balance
- Early Termination Fee: Account will close 30 days after opening if not funded
American Express® High Yield Savings Account - You earn 0.40% interest rate along with no minimum deposits or monthly fees. Amex High Yield Savings account has been my favorite Hub account for the past 7 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.
|Aspiration||1.00% APY + $150 Cash||Review|
|Axos Bank High Yield Savings||Up to 0.61% APY||Review|
|Quontic Bank High Yield Savings||0.55% APY||Review|
|CIT Bank Money Market||0.45% APY||Review|
|American Express High Yield Savings||0.40% APY||Review|
|Discover Bank Online Savings||0.40% APY||Review|
|Axos Business Savings||0.20% APY + $100 Bonus||Review|
First Internet Bank ACH Capabilities and Limits
|ACH Type||Speed||Daily $ Limit||Monthly $ Limit||Notes|
|Push||?||?||?||6 withdrawals/transfers per month|
|Pull||?||?||?||6 withdrawals/transfers per month|
Editor’s Note: Help us with the table above in the comment section if you have experience with ACH capabilities.
How to Receive First Internet Bank Rates
- Open a Money Market Savings account
- Input your info – Provide your name, address, phone, email and social security number or Tax ID
- Fund the account – Transfer funds electronically from an internal account here or an external account at another bank
|Balance Requirement||APY Rate|
Why You Should Sign Up For This Account
- Online and Mobile Banking
- 24/7 online access to your account
- Open an account and start earning with just $100
- FDIC Insured
- ATM card
- Incoming wires
- Unlimited deposits
Check out this offer from First Internet Bank and open an Money Market Savings Account to earn a 0.50% APY rate today! First Internet Bank is an online bank with only one physical location, so be sure to contact them directly if you have further questions regarding their Money Market Savings account!
For more bank offers, see the complete list of Best Bank Rates!
Check back often to see the latest info on First Internet Bank Money Market Savings Account.