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  Trustco Bank Money Market Account

Trustco Bank Money Market Account

in Money Market Accounts from Trustco Bank · fdic

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Trustco Bank Money Market Account

Unaffiliated

in Money Market Accounts from Trustco Bank · Member FDIC

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Highlights
APY (Annual Percentage Yield) 0.05% - 0.55%
APY Minimum Balance $0.01
Minimum Opening Deposit Starting at $2,500

Trustco Bank Money Market Account Review

Trustco Bank Money Market Account is offered by Trustco Bank, a bank founded in 1902 and based in Schenectady, NY. Trustco Bank Money Market Account is available in 50 states (and Washington, DC).

Key Takeaways
  • Very high APY. This account offers an annual percentage yield of up to 0.55%, which is much higher than the national average for a money market account.However, you must keep a minimum balance of $0.01.
  • Charges a monthly fee. This account charges a monthly service fee of up to $10, 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 Trustco Bank Money Market Account
Pros Cons
  • Available in all 50 states.
  • 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.
  • Monthly service charge.
Trustco Bank Money Market Account FAQ

Are money market accounts from Trustco Bank federally insured?

Yes, your Trustco 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 Trustco Bank money market rates?

Trustco Bank money market offers an APY starting at 0.05% and ranging up to 0.55% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $0.01.

Trustco Bank money market Rates and Terms
Rates Amount
APY (Annualized Percentage Yield) 0.05% - 0.55%

What are the fees for Trustco Bank Money Market Account?

This account charges a monthly maintenance fee of up to $10. You can avoid this fee by maintaining a balance of $2,500.
Trustco Bank Money Market Account Fees
Fees Amount
Monthly Fee up to $10
Paper Statement Fee N/A

What is the minimum balance for Trustco 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 $0.01. You must keep the account balance above $0.01 to earn interest.

What features and perks does Trustco Bank money market offer?

This account includes the following features:

  • Fraud monitoring - Trustco Bank monitors transactions for potentially fraudulent activity.
  • Mobile Banking Services - Trustco Bank money market allows you to manage your money through online banking and a dedicated mobile app.

What is the customer service phone number?

The customer service number for this business card is (800) 670-3110.

What is the support contact email?

The support contact email for this business credit card is marketing@trustcobank.com.

How to open an account with Trustco Bank

  • Visit the Trustco 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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Other Services by Trustco Bank

Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

APY Minimum Balance $0.01
Minimum Balance to Avoid Monthly Fee $2,500
Minimum Opening Deposit Starting at $2,500
Monthly Fee $0 - $10
Account Features
  • Interest Bearing Account
  • Mobile Banking
  • Fraud Monitoring
  • Fraud Protection
  • Member FDIC
APY (Annual Percentage Yield) 0.05% - 0.55%

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