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  Bank of China Money Market Account

Bank of China Money Market Account

in Money Market Accounts from Bank of China · fdic

Unaffiliated

Bank of China Money Market Account

Unaffiliated

in Money Market Accounts from Bank of China · Member FDIC

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Highlights
APY (Annual Percentage Yield) 0.05% - 0.15%
APY Minimum Balance $500
Minimum Opening Deposit Starting at $1,500

Bank of China Money Market Account Review

Bank of China Money Market Account is offered by Bank of China, a bank founded in 1912 and based in New York, NY. Bank of China Money Market Account is available in 3 states across the USA.

Key Takeaways
  • Very high APY. This account offers an annual percentage yield of up to 0.15%, which is much higher than the national average for a money market account.However, you must keep a minimum balance of $500.
  • Charges a monthly fee. This account charges a monthly service fee of $10, but the fee is waived if you keep a minimum balance of $1,000.
  • $1,500 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit.
Pros & Cons of Bank of China Money Market Account
Pros Cons
  • High-interest yield.
  • Does not offer mobile check deposits.
  • No charge on incoming domestic or international wire transfers.
  • No signup bonus.
  • Does not provide a debit card.
  • Only available in 3 states.
  • Monthly service charge.
Bank of China Money Market Account FAQ

Are money market accounts from Bank of China federally insured?

Yes, your Bank of China money market accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). 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 Bank of China money market rates?

Bank of China money market offers an APY starting at 0.05% and ranging up to 0.15% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $500.

Bank of China money market Rates and Terms
Rates Amount
APY (Annualized Percentage Yield) 0.05% - 0.15%

What are the fees for Bank of China Money Market Account?

This account charges a monthly maintenance fee of up to $10. You can avoid this fee by maintaining a balance of $1,000.

Bank of China will charge you a $10 fee if you exceed your maximum number of monthly transactions.

Bank of China Money Market Account Fees
Fees Amount
Monthly Fee up to $10
Paper Statement Fee N/A
Excess Transaction Fee $10

What is the minimum balance for Bank of China money market?

Minimum deposit of $1,500. You must make an initial deposit of at least $1,500 to open this account.

Monthly maintenance fee waiver. You can avoid the monthly fee if you keep a balance of $1,000.

Interest rate minimum balance of $500. You must keep the account balance above $500 to earn interest.

What features and perks does Bank of China money market offer?

This account includes the following features:

  • Fraud monitoring - Bank of China monitors transactions for potentially fraudulent activity.
  • Mobile Banking Services - Bank of China money market allows you to manage your money through online banking and a dedicated mobile app.

What is the customer service phone number?

The customer service number for this business card is (212) 935-3101.

What is the support contact email?

The support contact email for this business credit card is contactus@bocusa.com.

How to open an account with Bank of China

  • Visit the Bank of China 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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Contact

Other Services by Bank of China

Availability

  Available in 3 states
  • California
  • Illinois
  • New York

Feature Breakdown

APY Minimum Balance $500
Minimum Balance to Avoid Monthly Fee $1,000
Minimum Opening Deposit Starting at $1,500
Monthly Fee $10
Account Features
  • Interest Bearing Account
  • Mobile Banking
  • Fraud Monitoring
  • Fraud Protection
  • Member FDIC
APY (Annual Percentage Yield) 0.05% - 0.15%
Dividend Compounding Frequency Daily
Dividend Payout Frequency Monthly

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