Last Updated: 04/18/2025
DR Bank PRIME MONEY MARKET
Unaffiliated
in Money Market Accounts from DR Bank
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
2.50%(Verified 07/16/2024)
Minimum Balance to Earn APY
$100,000
Minimum Opening Deposit
$0
DR Bank PRIME MONEY MARKET Review
DR Bank PRIME MONEY MARKET is offered by DR Bank, a bank founded in 2006 and based in Darien, CT. DR Bank PRIME MONEY MARKET are available in 50 states, 5 US territories, and Washington, DC.
Key Takeaways
- Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 2.50%, which is much higher than the national average for a money market account. However, you must keep a minimum balance of $100000.
- No monthly maintenance fees. This account does not charge any monthly account fees.
- No minimum initial deposit. There is no minimum balance required to open an account.
Pros & Cons of DR Bank PRIME MONEY MARKET
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DR Bank PRIME MONEY MARKET FAQ
Are money market accounts from DR Bank federally insured?
Yes, your DR Bank 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 DR Bank PRIME MONEY MARKET rates?
| Rates | Amount |
| APY | 2.50% |
DR Bank PRIME MONEY MARKET offers an APY of up to 2.50% (APY stands for annual percentage yield, rates may change).However, to earn interest you must keep a balance of $100000. This is higher than the typical APY for online-only checking accounts, which is around 1% APY.
What are the fees for DR Bank PRIME MONEY MARKET?
DR Bank PRIME MONEY MARKET does not charge a monthly maintenance fee.
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| Monthly Service Fee | $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What is the minimum balance for DR Bank PRIME MONEY MARKET?
No minimum initial deposit. DR Bank does not require a minimum initial deposit to open an account.
Interest rate minimum balance of $100,000. You must keep the account balance above $100,000 to earn interest.
What features and perks does DR Bank PRIME MONEY MARKET offer?
This account includes the following features:
- Check Writing - DR Bank PRIME MONEY MARKET includes check writing privileges. This is convenient method to pay bills and transfer money from your account.
- Mobile Banking Services - DR Bank PRIME MONEY MARKET allows you to manage your money through online banking and a dedicated mobile app.
- Nationwide ATM network - DR Bank PRIME MONEY MARKET allows you to access your money from an ATM, a convenient feature only a few offer.
What is the customer service phone number?
The customer service number for this account is (203) 656-3500.
What is the support contact email?
The support contact email for this business credit card is support@drbank.com.
How to open an account with DR Bank
- Visit the DR Bank 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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Hours of Operation
Sunday
Closed
Monday
8:30AM - 4:00PM
Tuesday
8:30AM - 4:00PM
Wednesday
8:30AM - 4:00PM
Thursday
8:30AM - 4:00PM
Friday
8:30AM - 4:00PM
Saturday
9:00AM - 12:00PM