Published on December 16th, 2016 | by William Charles38
Unitedbank 1.35% APY Money Market Account Review [CA, CT, GA, ME, MD, MA, NJ, NY, PA, RI, TX, VA, WA]
Update: Rate increased to 1.35% (from 1.25) on 10/20/17
Update: Rate decreased to 1.25% APY (from 1.35%) on 02/01/2017.
Note: This rate is not guaranteed at all and according to the comments they have a history of lowering rates quickly.
Offer at a glance
- Interest Rate: 1.35% on balances up to $500,000, balances over $500,000 earn 0.05%
- Minimum Balance: $500 to open, $1 thereafter
- Maximum Balance: $500,000 for 1.3% rate
- Availability: Must live in one of the following states: CA, CT, GA, ME, MD, MA, NJ, NY, PA, RI, TX, VA, WA
- Hard/soft pull: Unknown
- Credit card funding: Up To $500
- Monthly fees: $15, waivable
- Insured: FDIC
- Earn a 1.35% APY on balances of up to $500,000 on UnitedBank’s Advantage Money Market account.
This account has a monthly service fee of $15, this is waived if you have a daily minimum balance of $2,500 or more. They also charge a $2 fee if you use an out of network ATM.
I don’t like the fact that there is big $15 monthly fee if you don’t maintain that daily minimum balance of $2,500. That being said, this is the highest basic savings account (no requirements for APY) currently available. Interested to know how much can be funded with a credit card and also if it’s a soft/hard pull. Let us know those datapoints in the comments below.