Harris Bank offers two money market accounts. The money market interest rates are better than the online savings accounts and have the added feature of check writing privileges.

Harris Bank Basic Money Market Account

The Harris Bank basic money market account combines the interest rates of a savings account with the flexibility and access of check writing. The basic money market account has a $100 opening balance requirement. With an average daily balance of at least $1,000 or with the bank’s auto save program of regular automatic deposits the account is free otherwise a $10 monthly fee is assessed. The fee for this account is higher than the fee for the standard savings account but the interest rates are the same so if you can’t maintain the minimum balance requirement or use the auto save program you might be better off with a standard savings account if saving is your only goal. However if you like the access of check writing, this could be a good account for you. The account does not begin to accrue interest until the account has an average daily balance of at least $2,500. As you compare high interest money market accounts, the Harris Bank account does not have the highest yields available. The interest rates are tired according to the average daily balance of the account but the highest interest rate available is on balances in excess of $25,000.

Harris Bank Relationship Money Market Account

For high balance accounts the Harris Bank Relationship Money Market Account is a better option than the basic money market account. There is a $10,000 minimum opening balance however there is no minimum balance requirement to earn interest. This account has five tiers at which interest rates change the highest of which is $100,000. On balances in excess of $100,000 the interest rate is a respectable .65% APY. But on balances lower than $100,000 higher current money market rates can be found at many other online banks.

Money Markets in a Minute

A simple money market interest rate comparison shows Harris Bank money market interest rates are not among the highest interest rates available. However the bank does have low account fees and in some cases no account fees. And since fees affect the APY it is something you should consider before opening any account. One advantage Harris Bank has over many other online banks is its website is clean, crisp and easy to navigate. Also all pertinent account information is easy to find.