Available online nationwide, Republic Bank is offering a rate of 4.46% APY when you open a Digital Money Market account.
Update 11/23/24: The rate has decreased to 4.46% APY from 4.61%.
You can open your Digital Money Market in 5 minutes with one of the most competitive money market rates available. Open your Digital Money Market account today, and experience the Republic Bank advantage for yourself.
About Republic Bank Digital Money Market
Established in 1964, Republic Bank is a family-owned bank that is dedicated to serving their clients with their financial services. They have grown to 19 locations throughout Chicagoland.
If you’re looking for a money market account with a high interest rate, then Digital Money Market account from Republic Bank is for you. You’ll need to deposit at least $2,500 to open the Digital Money Market Account and maintain that balance to avoid a monthly service charge.
| Balance Requirement | APY Rate |
| $2,500+ | 4.46% |
Republic Bank Digital Money Market Rate
Minimum balance to open and earn stated Annual Percentage Yield (APY) is $2,500. Interest will be compounded every month and credited to your account every month.
- Account Type: Digital Money Market Account
- Interest Rate: 4.46% APY
- Availability: Nationwide, online. Except IL, IN, MI, and WI.
- Minimum Balance: $2500
- Maximum Balance: None
- Credit Inquiry: Soft Pull
- Opening Deposit: $2,500 minimum
- Monthly Fee: Avoid the $25 monthly fee with $2,500+ balance.
- Early Termination Fee: None listed
(FDIC Insured)
Republic Bank ACH Capabilities & Limits
| ACH Type | Speed | Daily $ Limit | Monthly $ Limit | Notes |
| Push | ? | $2.5K | $10K | |
| Pull | ? | $2.5K | $10K |
Editor’s Note: Republic Bank is not a great bank to use for ACH Transfers for pushing or pulling money. I highly recommend to use SoFi or CIT Bank Savings as your HUB account for all ACH transfers.
Important Details for Republic Bank
- Initial funding of $75K maximum can be done through an ACH (at the end of the online application).
- The limit of six transactions per month has been temporarily lifted. There is no excessive transaction fee
- Check writing is available ($30 per pack of 16 checks, includes “taxes, fee, and standard shipping”). Republic Bank continues to honor the Fed Regulation D pause and currently there is no excessive transaction fee; the limit of six transactions per month has been temporarily lifted. Once the Fed pause is rescinded, “If you process more than 6 debits for three consecutive months, you will be required to change the product type from digital money market to a regular checking account.”
- Unlimited beneficiaries can be designated (equal shares) and Social Security numbers are not required.
- The DMM can be opened online by all U.S. citizens, with the exception of those who live in Illinois, Indiana, Michigan, or Wisconsin.
How to Earn Republic Bank Rate
- Open a Digital Money Market account from Republic Bank with minimum deposit of $2,500.
- 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.
- Earn 4.46% APY based on your account balance.
Why You Should Sign Up For This Account
- Checking writing is available.
- Unlimited beneficiaries can be designated.
- Opening your account online should only take 5 minutes.
- $2,500 minimum deposit to open account.
- Automatic rate increase to your account.
- FDIC insured – up to $250,000 per depositor.
Bottom Line
The Digital Money Market account from Republic Bank is quick and easy to open online. This is a good decision for customers who want a much bigger-than-average return on their money.
Interested in Bank Bonuses? See our favorite banks including BMO Harris Bank, U.S. Bank, Chase Bank, Huntington Bank, Discover Bank, TD Bank, or CIT Bank.
If you have any information on this account feel free to share your experiences with this bank by commenting below. For more bank offers, see our complete list of Best Bank Rates.
Check back often to see the latest info on Republic Bank Digital Money Market Account.
It seems citizenship is required for online application. Or branch visit is required.
“You must be a U.S. Citizen to open an account online. Non-U.S. Citizens should visit your nearest branch location to open an account.”