Ever Bank is offering a 5.01% APY money market account with a minimum deposit of only $1500 USD, which is quite a reasonable amount when compared to other similar banks. For instance, the Bay financial Saving Banks is offering a similar yield for 900K and Zions Bank Requires a deposit of 50,000 USD for an APY of 5.14%. Therefore, it pays the highest rate with the minimum deposit. However, this should be kept in mind that the offer is an introductory offer and the ongoing yield would be 4.26%. So, if you are looking for a long term investing in their money market accounts, you might want to consider that.

In terms of credibility, this bank is highly credible. The bank is FDIC insured, which means that consumers are insured up to 100,100 USD for their deposits. According to the IDC Financial Publishing, the bank is ranked amongst the “superior” corporations. Their Web Safety Guarantee ensures that any loss of money on company’s part due to misplacement or mistake is compensated to the costumer. Hence, it is guaranteed that you are investing you money in safe hands.

One of the most attractive features about their money market account is the free check writing. Within the legal limitations, you are entitled to make six transfers per month. But that is not all. The facility to transfer payments to their checking account is very convenient since from that account you can make about 200 transactions without being charged a single penny. Moreover, there is no maintenance charge for the account, if the minimum balance is maintained. Furthermore, they have no explicit rule about money transfer from one bank to another. You can transfer money from Ever Bank to any other bank of your choice. If you are interested in opening a money market deposit account, you can apply here.