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  Sunrise Banks Money Market Account

Out of Business

Sunrise Banks Money Market Account

in Money Market Accounts from Sunrise Banks · Member fdic

Out of Business

Sunrise Banks Money Market Account

in Money Market Accounts from Sunrise Banks · Member FDIC

Net Recommendation Score -100

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly not recommended by SuperMoney users with a score of -100, equating to 1 on a 5 point rating scale.

-100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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1 user doesn't recommend
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Highlights
Community Rating

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APY (Annual Percentage Yield) 0.01% - 2%
APY Minimum Balance $1
Minimum Opening Deposit Starting at $100

Sunrise Banks Money Market Account Review

Sunrise Banks Money Market Account is no longer available to new customers on SuperMoney.

Click here to compare Money Market Accounts and quickly find the best options for your needs.

Sunrise Banks Money Market Account is offered by Sunrise Banks, a bank founded in 1962 and based in Saint Paul, MN. Sunrise Banks Money Market Account is available in 1 state across the USA.

Key Takeaways
  • Very high APY. This account offers an annual percentage yield of up to 2%, which is much higher than the national average for a money market account.However, you must keep a minimum balance of $1.
  • 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 $30,000.
  • Small minimum initial deposit. You only need $100 to open an account.
Pros & Cons of Sunrise Banks Money Market Account
Pros Cons
  • High-interest yield.
  • Does not offer mobile check deposits.
  • No charge on incoming domestic or international wire transfers.
  • No signup bonus.
  • Does not provide a debit card.
  • Only available in one state.
  • Monthly service charge.
Sunrise Banks Money Market Account FAQ

Are money market accounts from Sunrise Banks federally insured?

Yes, your Sunrise Banks 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 Sunrise Banks money market rates?

Sunrise Banks money market offers an APY starting at 0.01% and ranging up to 2% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $1.

Sunrise Banks money market Rates and Terms
Rates Amount
APY (Annualized Percentage Yield) 0.01% - 2%

What are the fees for Sunrise Banks Money Market Account?

This account charges a monthly maintenance fee of up to $15. You can avoid this fee by maintaining a balance of $30,000.

Sunrise Banks will charge you a $1 fee if you exceed your maximum number of monthly transactions.

Sunrise Banks Money Market Account Fees
Fees Amount
Monthly Fee up to $15
Paper Statement Fee $1.5
Excess Transaction Fee $1

What is the minimum balance for Sunrise Banks money market?

Minimum deposit of $100. You must make an initial deposit of at least $100 to open this account.

Monthly maintenance fee waiver. You can avoid the monthly fee if you keep a balance of $30,000.

Interest rate minimum balance of $1. You must keep the account balance above $1 to earn interest.

What features and perks does Sunrise Banks money market offer?

This account includes the following features:

  • Check Writing - Sunrise Banks money market includes check writing privileges. This is convenient method to pay bills and transfer money from your account.
  • Fraud monitoring - Sunrise Banks monitors transactions for potentially fraudulent activity.

What is the customer service phone number?

The customer service number for this business card is (651) 265-5600.

How do people rate the customer service and user experience?

Overall, this business credit card is strongly not recommended based on community reviews that rate customer service and user experience.

How to open an account with Sunrise Banks

  • Visit the Sunrise Banks 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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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 1 state
Minnesota
Availabile in all of Minnesota

Feature Breakdown

APY Minimum Balance $1
Minimum Balance to Avoid Monthly Fee $30,000
Minimum Opening Deposit Starting at $100
Monthly Fee $0 - $15
Paper Statement Fee 1.5
Bank Account Features
  • Interest Bearing Account
  • Fraud Monitoring
  • Fraud Protection
  • FDIC Member
  • Check Writing
APY (Annual Percentage Yield) 0.01% - 2%
Dividend Compounding Frequency Daily
Dividend Payout Frequency Monthly

Sunrise Banks Money Market Account Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly not recommended by SuperMoney users with a score of -100, equating to 1 on a 5 point rating scale.

-100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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