Gate City Bank Money Market Savings Review
Gate City Bank Money Market Savings is offered by Gate City Bank,
founded in 1923 and based in Fargo, ND.
Gate City Bank Money Market Savings is available in
2 states across the USA.
- Very high 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 Service Charge 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
- High-interest yield.
- Access to physical branches.
- Deposit checks remotely.
- No signup bonus.
- Does not provide a debit card.
- Only available in 2 states.
- Monthly service charge.
Gate City Bank Money Market Savings FAQ
Are money market accounts from Gate City Bank federally insured?
Yes, this account is 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.
Gate City Bank money market Rates and Terms
|APY (Annualized Percentage Yield)
||0.03% - 0.45%
What are the fees for Gate City Bank Money Market Savings?
This account charges a monthly maintenance fee of up to $10.
You can avoid this fee by maintaining a balance of $500.
Gate City Bank Money Market Savings Fees
||up to $10
|Paper Statement Fee
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.
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.
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