Axiom Bank Select Money Market Review
Axiom Bank Select Money Market is offered by Axiom Bank, N.A.,
founded in 1962 and based in Maitland, FL.
Axiom Bank Select Money Market is available in
1 state across the USA.
- Very high APY. This account offers an annual percentage yield of up to 0.25%, which is much higher than the national average for a money market account.However, you must keep a minimum balance of $2500.
- Charges a monthly fee. This account charges a monthly service fee of up to $20, but the fee is waived if you keep a minimum balance of $5,000.
- $1,000 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit.
Pros & Cons of Axiom Bank Select Money Market
- High-interest yield.
- Access to physical branches.
- Free debit card
- Access to a nationwide network of ATMs.
- No charge on incoming domestic or international wire transfers.
- Deposit checks remotely.
- No signup bonus.
- Only available in one state.
- Monthly service charge.
Axiom Bank Select Money Market FAQ
Are money market accounts from Axiom Bank, N.A. federally insured?
Yes, your Axiom Bank, N.A. money market accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #31390). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.
What are the interest rates for Axiom Bank Select Money Market rates?
Axiom Bank Select Money Market offers an APY starting at 0.05% and ranging up to 0.25% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $2500.
Axiom Bank Select Money Market Rates and Terms
|APY (Annualized Percentage Yield)
||0.05% - 0.25%
What are the fees for Axiom Bank Select Money Market?
This account charges a monthly maintenance fee of up to $20.
You can avoid this fee by maintaining a balance of $5,000.
Axiom Bank, N.A. will charge you a $10 fee if you exceed your maximum number of monthly transactions.
Axiom Bank, N.A. will allow you to make up to 6 withdrawals or transactionss per month.
That is also the maximum set by federal regulations.
Axiom Bank Select Money Market Fees
||up to $20
|Paper Statement Fee
|Excess Transaction Fee
What is the minimum balance for Axiom Bank Select Money Market?
Minimum deposit of $1,000. You must make an initial deposit of at least $1,000 to open this account.
Monthly maintenance fee waiver. You can avoid the monthly fee if you keep a balance of $5,000.
Interest rate minimum balance of $2,500. You must keep the account balance above $2,500 to earn interest.
What features and perks does Axiom Bank Select Money Market offer?
This account includes the following features:
- Mobile Banking Services - Axiom Bank Select Money Market allows you to manage your money through online banking and a dedicated mobile app. This includes depositing checks in your account with your smartphone.
- Nationwide ATM network - Axiom Bank Select Money Market allows you to access your money from an ATM, a convenient feature only a few offer.
How to open an account with Axiom Bank, N.A.
- Visit the Axiom Bank, N.A. 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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