Gate City Bank Money Market Savings

Gate City Bank Money Market Savings Review

Gate City Bank Money Market Savings is offered by Gate City Bank, a bank founded in 1923 and based in Fargo, ND. Gate City Bank money market are available in 2 states across the USA.

Key Takeaways

• Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 0.45%, which is much higher than the national average for a money market account.However, you must keep a minimum balance of $500.
• $0 monthly account fees available. This account charges a monthly service fee of up to $10, but the fee is waived if you keep a minimum balance of $500.

Pros & Cons of Gate City Bank Money Market Savings

Gate City Bank Money Market Savings FAQ

Are money market accounts from Gate City Bank federally insured?

Yes, your deposits are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #27774). 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 Gate City Bank money market rates?

Gate City Bank money market offers an APY starting at 0.03% and ranging up to 0.45% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $500.

What are the fees for Gate City Bank Money Market Savings?

What is the minimum balance for Gate City Bank money market?

No minimum initial deposit. Gate City Bank does not require a minimum initial deposit to open an account.

Monthly maintenance fee waiver. You can avoid the monthly fee if you keep a balance of $500.

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

What features and perks does Gate City Bank money market offer?

This account includes the following features:

• Fraud monitoring - Gate City Bank monitors transactions for potentially fraudulent activity.
• Mobile Banking Services - Gate City Bank 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.

What is the customer service phone number?

The customer service number for this account is (800) 423-3344.

What is the support contact email?

The support contact email for this business credit card is socialmedia@gatecity.bank.

How to open an account with Gate City Bank

• Visit the Gate City 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.