Available for residents nationwide, Western State Bank is offering 4.85% APY when you open an account.
While there is no minimum balance requirement, the High Yield Money Market does required a $5k minimum opening deposit to earn the high rate up to $10 Million.
Update 8/5/24: The rate has decreased to 4.85% APY from 5.15%.
About Western State Bank Money Market
Western State Bank is headquartered in Devils Lake and is the 8th largest bank in the state of North Dakota. Western State Bank’s money market rates are 6X the national average, and they an A health rating.
With such great money market rates you can earn big! The account gives you access to online banking, eStatements, mobile banking, text alerts, and so much more.
I’ll review Western State Bank Money Market below.
| Balance Requirement | APY Rate |
| $0+ | 4.85% APY |
Western State Bank Money Market Rate
To earn Western State Bank’s competitive rate, simply complete all the requirements. That’s all it takes and you’ll get to enjoy earning the high rate on all balances.
- Account Type: High Yield Money Market
- Interest Rate: 4.85% APY
- Availability: Nationwide
- Minimum Balance: None
- Maximum Balance: $10 Million
- Credit Inquiry: Soft pull
- Opening Deposit: $5,000
- Monthly Fee: No monthly service fees
- Early Termination Fee: None
(FDIC Insured)
Important Details for Western State Bank
- There are no monthly maintenance fees applied to the account.
- Debit cards and checks will not be issued on this account.
- There is no access to the account through an ATM withdrawal.
- There are five ways to fund your accounts. Check, Wire transfer, “Pushing” funds via ACH, External transfers from Western State Bank Online Banking, and Bank visit.
- Unlimited beneficiaries with equal shares are allowed. Social Security numbers are not required when naming a beneficiary.
- A $5.00 fee is imposed for each additional withdrawal or debit over ten per month.
- If your balance plus accrued and credited interest exceeds $10,000,000.00, a representative from Western State Bank will contact you to reduce the balance in the account.
- A cashier’s check can be mailed to the address on file by contacting Customer Care (877-846-9345).
Western State Bank ACH Capabilities & Limits
| ACH Type | Speed | Daily $ Limit | Monthly $ Limit | Notes |
| Push | ? | $10,000 | $20,000 | 6 transfers a month |
| Pull | ? | $5,000 | $10,000 | 6 transfers a month |
You can add up to five external accounts and transfer money back and forth.
How to Earn Western State Bank Rate
- Open a High Yield Money Market account from Western State Bank.
- Bring:
- You must be at least 18 years old and a U.S. Citizen
- Your social security number
- Name, address, date of birth
- Government-issued photo ID
- Bring:
- Maintain any balance amount and earn the 4.85% APY rate.
Why You Should Sign Up For This Account
- Earn up to 20x the national average*
- No monthly fees
- Easy fund transfers with other financial institutions
- North Dakota-based phone and email customer service
- No promotional rate periods
- 24/7 online access to your money
Bottom Line
Check out this offer from Western State Bank. When you open a Money Market account you can earn a rate! Take advantage of the services they have to offer along with these savings.
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 Western State Bank Online Savings Account.
