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  Exchange Bank Money Market Account

Exchange Bank Money Market Account

in Money Market Accounts from Exchange Bank · Member fdic

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Exchange Bank Money Market Account

Unaffiliated

in Money Market Accounts from Exchange Bank · Member FDIC

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Highlights
APY (Annual Percentage Yield) 0.10% - 0.30%
APY Minimum Balance $0.01
Minimum Opening Deposit Starting at $1,000

Exchange Bank Money Market Account Review

Exchange Bank Money Market Account is offered by Exchange Bank, a bank founded in 1894 and based in Omaha, NE. Exchange Bank Money Market Account is available in 2 states across the USA.

Key Takeaways
  • Very high APY. This account offers an annual percentage yield of up to 0.30%, which is much higher than the national average for a money market account.However, you must keep a minimum balance of $0.01.
  • Charges a monthly fee. This account charges a monthly service fee of up to $10, but the fee is waived if you keep a minimum balance of $2,500.
  • $1,000 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit.
Pros & Cons of Exchange Bank Money Market Account
Pros Cons
  • High-interest yield.
  • Access to physical branches.
  • Free debit card and the option to lock/unlock the card if lost or stolen
  • No charge on incoming domestic or international wire transfers.
  • Deposit checks remotely.
  • No signup bonus.
  • Only available in 2 states.
  • Monthly service charge.
Exchange Bank Money Market Account FAQ

Are money market accounts from Exchange Bank federally insured?

Yes, your Exchange Bank money market accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #1435). 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 Exchange Bank Money Market Account rates?

Exchange Bank Money Market Account offers an APY starting at 0.10% and ranging up to 0.30% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $0.01.

Exchange Bank Money Market Account Rates and Terms
Rates Amount
APY (Annualized Percentage Yield) 0.10% - 0.30%

What are the fees for Exchange Bank Money Market Account?

This account charges a monthly maintenance fee of up to $10. You can avoid this fee by maintaining a balance of $2,500.
Exchange Bank Money Market Account Fees
Fees Amount
Monthly Fee up to $10
Paper Statement Fee N/A

What is the minimum balance for Exchange Bank Money Market Account?

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 $2,500.

Interest rate minimum balance of $0.01. You must keep the account balance above $0.01 to earn interest.

What features and perks does Exchange Bank Money Market Account offer?

This account includes the following features:

  • Fraud monitoring - Exchange Bank monitors transactions for potentially fraudulent activity.
  • Mobile Banking Services - Exchange Bank Money Market Account allows you to manage your money through online banking and a dedicated mobile app. This includes depositing checks in your account with your smartphone.

How to open an account with Exchange Bank

  • Visit the Exchange 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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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

  • Headquarters
  •   8008 W. Dodge Rd.
    Omaha, NE 68114
  •   Visit Site

Hours of Operation

  • Sunday Closed
  • Monday 8:00am - 5:00pm
  • Tuesday 8:00am - 5:00pm
  • Wednesday 8:00am - 5:00pm
  • Thursday 8:00am - 5:00pm
  • Friday 8:00am - 5:00pm
  • Saturday Closed

Other Services by Exchange Bank

Availability

  Available in 2 states
  • Kansas
  • Nebraska

Feature Breakdown

APY Minimum Balance $0.01
Minimum Balance to Avoid Monthly Fee $2,500
Minimum Opening Deposit Starting at $1,000
Monthly Fee $0 - $10
Bank Account Features
  • Mobile Check Deposit
  • Interest Bearing Account
  • Mobile Banking
  • Fraud Monitoring
  • Debit Card Lock/Unlock
  • Fraud Protection
  • Debit Card
  • Branch Access
  • FDIC Member
APY (Annual Percentage Yield) 0.10% - 0.30%
Dividend Compounding Frequency Quarterly

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