Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
Minimum Balance to Earn APY
Minimum Opening Deposit
ALEC Money Market Account Review
Key Takeaways
- Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 1.80%, which is much higher than the national average for a money market account. However, you must keep a minimum balance of $2000.00.
- No monthly maintenance fees. This account does not charge any monthly account fees.
- $2,000.00 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit.
Pros & Cons of ALEC Money Market Account
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ALEC Money Market Account FAQ
Are money market accounts from ALEC federally insured?
What are the dividends for ALEC Money Market Account rates?
| Rates | Amount |
| APY (Annualized Percentage Yield) | 1.50% - 1.80% |
What are the fees for ALEC Money Market Account?
| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Monthly Service Fee | $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Paper Statement Fee | Starting at $5.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NSF Fee | $29.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What is the minimum balance for ALEC Money Market Account?
What features and perks does ALEC Money Market Account offer?
- Mobile Banking Services - ALEC Money Market Account allows you to manage your money through online banking and a dedicated mobile app.
- Nationwide ATM network - ALEC Money Market Account allows you to access your money from an ATM, a convenient feature only a few offer.
What is the customer service phone number?
How to open an account with ALEC
- Visit the ALEC website.
- Fill in the application form. You will typically need to provide general financial information, such as your name, Social Security Number and address.
- Check the information is accurate and submit your application.
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