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  New York Community Bank Money Market

New York Community Bank Money Market

in Money Market Accounts from New York Community Bank · fdic

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New York Community Bank Money Market

Unaffiliated

in Money Market Accounts from New York Community Bank · Member FDIC

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Highlights
APY (Annual Percentage Yield) 0.01% - 1%
APY Minimum Balance $2,500
Minimum Opening Deposit Starting at $2,500

New York Community Bank Money Market Review

New York Community Bank Money Market is offered by New York Community Bank, founded in 1859 and based in Westbury, NY. New York Community Bank Money Market is available in 5 states across the USA.

Key Takeaways
  • Very high APY. This account offers an annual percentage yield of up to 1%, which is much higher than the national average for a money market account.However, you must keep a minimum balance of $2500.
  • Charges a monthly fee. This account charges a monthly service fee of up to $15, but the fee is waived if you keep a minimum balance of $2,500.
  • High minumum deposit. You must deposit a minimum of $2,500, which is high compared to most money market accounts.
Pros & Cons of New York Community Bank Money Market
Pros Cons
  • High-interest yield.
  • Free debit card
  • No charge on incoming domestic or international wire transfers.
  • Deposit checks remotely.
  • No signup bonus.
  • Only available in 5 states.
  • Monthly service charge.
New York Community Bank Money Market FAQ

Are money market accounts from New York Community Bank federally insured?

Yes, your New York Community 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 New York Community Bank money market rates?

New York Community Bank money market offers an APY starting at 0.01% and ranging up to 1% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $2500.

New York Community Bank money market Rates and Terms
Rates Amount
APY (Annualized Percentage Yield) 0.01% - 1%

What are the fees for New York Community Bank Money Market?

This account charges a monthly maintenance fee of up to $15. You can avoid this fee by maintaining a balance of $2,500.
New York Community Bank Money Market Fees
Fees Amount
Monthly Fee up to $15
Paper Statement Fee N/A

What is the minimum balance for New York Community Bank money market?

Minimum deposit of $2,500. You must make an initial deposit of at least $2,500 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 $2,500. You must keep the account balance above $2,500 to earn interest.

What features and perks does New York Community Bank money market offer?

This account includes the following features:

  • Check Writing - New York Community Bank money market includes check writing privileges. This is convenient method to pay bills and transfer money from your account.
  • Fraud monitoring - New York Community Bank monitors transactions for potentially fraudulent activity.
  • Mobile Banking Services - New York Community 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 New York Community Bank

  • Visit the New York Community 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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Contact

  • Headquarters
  •   615 Merrick Avenue
    Westbury, NY 11590
  •   Visit Site

Other Services by New York Community Bank

Availability

  Available in 5 states
  • Arizona
  • Florida
  • New Jersey
  • New York
  • Ohio

Feature Breakdown

APY Minimum Balance $2,500
Minimum Balance to Avoid Monthly Fee $2,500
Minimum Opening Deposit Starting at $2,500
Monthly Fee $0 - $15
Account Features
  • Free Bill Pay
  • Mobile Check Deposit
  • Interest Bearing Account
  • Mobile Banking
  • Fraud Monitoring
  • Fraud Protection
  • Debit Card
  • Member FDIC
  • Check Writing
APY (Annual Percentage Yield) 0.01% - 1%
Dividend Payout Frequency Monthly

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