Ponce Bank High Yield Money Market

Ponce Bank High Yield Money Market Review

Ponce Bank High Yield Money Market is offered by Ponce Bank, a bank founded in 1960 and based in Bronx, NY. Ponce Bank Money Market are available in 50 states (and Washington, DC).

Key Takeaways

• Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 3.25%, which is much higher than the national average for a money market account.
• No APY minimum balance. There is no minimum amount you have to deposit to start earning interest with this money market account.
• Small minimum initial deposit. You only need $50 to open an account.

Pros & Cons of Ponce Bank High Yield Money Market

Ponce Bank High Yield Money Market FAQ

Are money market accounts from Ponce Bank federally insured?

No, your Ponce Bank money market accounts are not insured by a federal insurance agency. This means that if Ponce Bank were to fall into financial difficulties, your deposits are not covered by a government-backed insurance fund like the FDIC or NCUSIF.

What are the interest rates for Ponce Bank Money Market rates?

Ponce Bank Money Market offers an APY of up to 3.25% (APY stands for annual percentage yield, rates may change).However, to earn interest you must keep a balance of $. This is higher than the typical APY for online-only checking accounts, which is around 1% APY.

What are the fees for Ponce Bank High Yield Money Market?

Ponce Bank High Yield Money Market does not charge a monthly maintenance fee.

What is the minimum balance for Ponce Bank Money Market?

Minimum deposit of $50. You must make an initial deposit of at least $50 to open this account.

What features and perks does Ponce Bank Money Market offer?

This account does not seem to offer any of the features and perks we track.

What is the customer service phone number?

The customer service number for this account is (718) 931-9000.

What is the support contact email?

The support contact email for this business credit card is contact.center@poncebank.net.

How to open an account with Ponce Bank

• Visit the Ponce 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.