Allstate Bank offers insured money market accounts.

Insured Money Market Accounts  

A great alternative to a savings account is a money market account.  What makes them so great is that they offer both high interest rates as well as easy access to the funds anytime you need them.  To set up an insured money market account at Allstate Bank, one needs to have a $500 minimum deposit, as well as a $250 minimum monthly average daily balance in order to avoid an $8 monthly fee.  Some great perks when getting an insured money market account at Allstate Bank include a first order of checks free, a free ATM card with unlimited withdrawals allowed, $6 per month in automatic reimbursement for ATM fees at other banks, and up to 6 third-party transactions per month.  Interest on the money market account is compounded daily and credited monthly.  The APR on insured money market accounts at Allstate Bank begin at 0.25%, but what is unique is that the interest rate is applied on a tiered rate structure.  In other words, the greater the balance in the money market account, the greater the interest rate. You can also check out the Allstate Savings account review or our Allstate CD account review.

An interesting option that Allstate Bank offers alongside its insured money market account is the automatic savings program.  Under this program, one can automatically transfer a certain amount of funds from an insured money market account into a high yield savings account that Allstate Bank offers.  This can be a great option for those who may want to stash away interest gained on the money market account in another account to create even more money.

How to Apply

There are two simple ways to apply for an insured money market account at Allstate Bank.  The first way is to contact a local Allstate agent, who will guide you step by step through the process.  The second way is to download an online form and mail it in to Allstate Bank.  Allstate Bank offers two easy and convenient ways to help you earn more money than ever in an insured money market account. Read the full Allstate Bank review or look up other bank reviews.