SuperMoney
  Trustco Bank Money Market Account

Trustco Bank Money Market Account

in Money Market Accounts from Trustco Bank · Member fdic

Unaffiliated

Trustco Bank Money Market Account

Unaffiliated

in Money Market Accounts from Trustco Bank · Member FDIC

Not enough votes for recommendation

Not enough votes for recommendation

Cast your vote

Would you recommend Trustco Bank Money Market Account to your friends?

Thanks for your vote!

You voted: May or may not recommend

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 or ATM access to your money.
  • 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 Account rates?

Trustco Bank Money Market Account 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 Account 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 Account?

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 Account offer?

This account includes the following features:

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

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.
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.

Contact

  • Headquarters
  •   PO Box 1082
    Schenectady, NY 12301
  •   Visit Site

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
Bank Account Features
  • Interest Bearing Account
  • Mobile Banking
  • Fraud Monitoring
  • Fraud Protection
  • FDIC Member
APY (Annual Percentage Yield) 0.05% - 0.55%

Be the first to rate

 

Would you recommend Trustco Bank Money Market Account to your friends?

Before we publish your vote:

Please explain your vote by sharing your experience.

Writing a review increases the credibility of your vote and helps your fellow users make a better-informed decision.

Please write a review to submit your vote
Cancel my vote
(will require moderator approval)