Available for residents nationwide, UmbrellaBank is offering 0.36% APY when you open a Money Market account. Continue reading to learn all you need to know about UmbrellaBank.
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About UmbrellaBank Money Market Account
UmbrellaBank is focused on online CDs and other savings products and, most importantly, their customers. All accounts are insured by the Federal Deposit Insurance Corporation (FDIC) for at least $250,000 per depositor.
We will review UmbrellaBank Money Market Account below.
UmbrellaBank Online Savings 0.36% Rate
To earn this competitive rate, simply have an opening deposit of $1,000 then you must fund the account with $25,000. That’s all it takes and you’ll get to enjoy earning the high rate of 0.36%.
- Account Type: Money Market Account
- Interest Rate: 0.36%
- Minimum Balance: $25,000
- Maximum Balance: None listed
- Availability: Nationwide (Bank Locator)
- Credit Inquiry: Hard pull or soft pull? Let us know
- Opening Deposit: $1,000
- Credit Card Funding: Unknown. Let us know.
- Direct Deposit Requirement: None
- Monthly Fee: $10, can be waived with a minimum balance of $1,000
- Early Termination Fee: $15, if closed within 6 months of account opening
UmbrellaBank 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 UmbrellaBank’s ACH capabilities.
How to Earn UmbrellaBank Rate
- Open a Money Market account from UmbrellaBank with an opening deposit of $1,000.
- 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.
- Maintain a minimum balance of $25,000.00, enroll in online banking, and agree to electronic-only statements.
|Balance Requirement||APY Rate|
Why You Should Sign Up For This Account
- Competitive rates
- Insured by the FDIC to at least $250,000 per deposit account
- Access to your funds
- Interest is compounded monthly
Check out UmbrellaBank Money Market Account for this great rate for balances above $25,000. Take advantage of the services they have to offer along with these savings. It takes just minutes online, so open an account today! 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 UmbrellaBank Online Savings Account.