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  People's United Bank Money Market Account

People's United Bank Money Market Account

in Money Market Accounts from People's United Bank · fdic

Unaffiliated

People's United Bank Money Market Account

Unaffiliated

in Money Market Accounts from People's United Bank · Member FDIC

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Highlights
APY (Annual Percentage Yield) 0.01% - 0.05%
APY Minimum Balance $0
Minimum Opening Deposit Starting at $2,500

People's United Bank Money Market Account Review

People's United Bank Money Market Account is offered by People's United Bank, a bank founded in 1842 and based in Bridgeport, CT. People's United Bank Money Market Account is available in 6 states across the USA.

Key Takeaways
  • Low APY. The maximum annual percentage yield for this account is only 0.05.
  • No APY minimum balance. There is no minimum amount you have to deposit to start earning interest with this money market account.
  • Charges a monthly fee. This account charges a monthly service fee of up to $5, 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 People's United Bank Money Market Account
Pros Cons
  • Access to physical branches.
  • Access to a nationwide network of ATMs.
  • No charge on incoming domestic or international wire transfers.
  • Deposit checks remotely.
  • No signup bonus.
  • Does not provide a debit card.
  • Only available in 6 states.
  • Monthly service charge.
People's United Bank Money Market Account FAQ

Are money market accounts from People's United Bank federally insured?

Yes, your People's United Bank money market accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #27334). 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 People's United Bank money market rates?

People's United Bank money market offers an APY starting at 0.01% and ranging up to 0.05% (APY stands for annual percentage yield, rates may change).

People's United Bank money market Rates and Terms
Rates Amount
APY (Annualized Percentage Yield) 0.01% - 0.05%

What are the fees for People's United Bank Money Market Account?

This account charges a monthly maintenance fee of up to $5. You can avoid this fee by maintaining a balance of $2,500.

People's United Bank will charge you a $15 fee if you exceed your maximum number of monthly transactions.

People's United Bank Money Market Account Fees
Fees Amount
Monthly Fee up to $5
Paper Statement Fee N/A
Excess Transaction Fee $15

What is the minimum balance for People's United 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.

What features and perks does People's United Bank money market offer?

This account includes the following features:

  • Fraud monitoring - People's United Bank monitors transactions for potentially fraudulent activity.
  • Mobile Banking Services - People's United 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.
  • Nationwide ATM network - People's United Bank 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 business card is (800) 894-0300.

What is the support contact email?

The support contact email for this business credit card is socialmedia@peoples.com.

How to open an account with People's United Bank

  • Visit the People's United 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.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
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.

Availability

  Available in 6 states
  • Connecticut
  • Massachusetts
  • Maine
  • New Hampshire
  • New York
  • Vermont

Feature Breakdown

APY Minimum Balance $0
Minimum Balance to Avoid Monthly Fee Starting at $2,500
Minimum Opening Deposit Starting at $2,500
Monthly Fee $0 - $5
Account Features
  • Free Bill Pay
  • Mobile Check Deposit
  • Interest Bearing Account
  • Nationwide ATM Network
  • Mobile Banking
  • Fraud Monitoring
  • Fraud Protection
  • Branch Access
  • Member FDIC
APY (Annual Percentage Yield) 0.01% - 0.05%
Dividend Compounding Frequency Daily
Dividend Payout Frequency Monthly

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