Dime Savings bank offers the DimeDirect Money Market account. This account earns 1.1% APY. Let’s take a quick look at the account.
Contents
The Basics
- 1.1% APY
- Minimum deposit of $1,000 required
- Only requirement is you have eStatements via Online Banking
- Available nationwide
- You can make up to 6 transactions monthly with no fees
- Limit of one account per household
- No monthly fees
- FDIC insured (remember only balances up to $250,000 are insured)
F.A.Q’s
Is it a soft pull?
Unfortunately they do a hard pull.
Can you fund with a credit card?
Our Verdict
Unfortunately they do a hard pull for this account, this will kill the deal for most people. 1.1% APY is better than usually available for a basic savings account (e.g no requirements to get the rate), but you could get a cash sign up bonus on a credit card instead that will provide better value. You’d also probably be better off getting a checking sign up bonus with no hard pull.
View Comments (9)
Hold on while I get my limit raised to $20 mill.
Oh, damn, no credit card funding.
It is not widely known that financial institutions pay an extremely low rate to process purchases.
One with which I used to be affiliated used to pay .25%, and it was a small institution.
Is anyone down to buy a bank for the express purpose of accruing miles?
Looks like there's no credit card funding: "Making a deposit is part of the process of opening your new account. You will need the account information found on your checks."
Thanks, updated.
15 dollars of 75 at ebay for 2 more hours. Actually have to buy merchandise.
Yeah, missed this but thanks for letting us know.
I would rather take Goldman for 1.05
Why?
Can't wait for the person to try and see if they can fund 500k on their cc for a quick 5k lol.
Is it limited to one account per person? :)