A Roundup of the Top Bank Rates for the Week: Plus Other Banking Services Worth Checking Out
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With investment rates seemingly headed for rock-bottom, it’s always good to know that there are still banks out there that offer rates much higher than the going national average.
Here’s the latest recap of the best account alternatives this week based primarily on interest rates and minimum balances that should be deposited or maintained.
Savings Account Rate
Top pick: Wachiova
- Why: APY of 5.00% (as of April 6th 2009) for $1 minimum deposit with free online transfers and no monthly fees
Checking Account Rate
Top pick: Presidential Online Bank
- Why: APY of 2.00% (as of April 6th 2009) for a minimum balance of $1,500. FREE online billpayer, first 25 checks, and nationwide ATM access
CD Rate
Top pick: Umbrella Bank
- Why: APY of 2.67% (as of April 6th 2009) for a 12-month CD minimum of $1,000
Money Market Rate
Top pick: ADB Bank (Direct Wealth Money Market)
- Why: APY of 2.50% (as of April 6th 2009) for $0 minimum balance. Free online banking, online billpay, and first order of checkbooks.
Aside from the current bank rates, we have also gathered other top-rated banks in different categories based on bank reviews, customer surveys, and industry experts.
Bank in Mobile Banking Service
Top pick: Wells Fargo (CEO Mobile SM)
- Why: Aside from the usual services offered by most mobile banking apps such as balance inquiry, account history, bills payment, and funds transfer, Wells Fargo is the first and only bank to have created a unique mobile banking service for businessmen who need to make decisions while on the go.
- Runners-up: Bank of America Mobile Banking, Citi Mobile, Chase Mobile
