Amegy Bank Money Market Account Rating

Amegy Bank’s money market account came in well below average.  The minimum opening deposit requirement is only $1,000, but one must have at least $2,500 in the account to avoid having to pay a $12 monthly fee.  This begs the question, why offer such a minimum deposit if one has to pay a monthly fee if they meet it every month?  Combine this with the rates offered at one can clearly see why it came in below average according to us.  For an account of $1,000-$50,000 the interest rate is 0.10%, $50,000-$100,000 is 0.15%, and $100,000+ is at 0.30%.  All of these are well below the industry average of approximately 1.00% (as of August 2011).

Read the complete Amegy money market article. http://banktruth.org/best-money-market-rates/amegy-bank-with-money-market-rates-for-online-account-at-55-apy/

Money Market Rating