Online Bank Reviews Best Banks 2011 » New Dominion Direct Money Market http://banktruth.org Best Banks Bank Reviews Best Rates Sat, 04 Feb 2012 11:00:09 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 NewdominionDIRECT.com “sums” up High Yield Money Markets http://banktruth.org/best-money-market-rates/newdominiondirect-com-sums-up-high-yield-money-markets/ http://banktruth.org/best-money-market-rates/newdominiondirect-com-sums-up-high-yield-money-markets/#comments Mon, 12 Jul 2010 18:34:28 +0000 AccountReviewer http://banktruth.org/?p=1267 New Dominion Direct now features their own Money Market Accounts. The minimum to open a money market account is $3,000 so you will easily be able to see your balance growing. The high money market rates run about 1.30% APY and 1.29% as the interest rate. However, even though you can see the digits adding up, you will not recieve the compounded interest until the end of the month, much like any other bank. In order to capitalize on your compounded interest, it is recommended to maintain a $3,000 minimum deposit or the $5,000 average daily balance. If you cannot meet this standard, then a $15 fee will be charged. Another precaution to

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]]> New Dominion Direct now features their own Money Market Accounts. The minimum to open a money market account is $3,000 so you will easily be able to see your balance growing. The high money market rates run about 0.65%APY and 0.64% (1.30% APY and 1.29% in 12 Jul 2010) as the interest rate. However, even though you can see the digits adding up, you will not recieve the compounded interest until the end of the month, much like any other bank. In order to capitalize on your compounded interest, it is recommended to maintain a $3,000 minimum deposit or the $5,000 average daily balance. If you cannot meet this standard, then a $15 fee will be charged. Another precaution to take is the amount of “debits” or withdrawals that you make with this account. A maximum of six may be completed before a fee will be applied. And for those of you who are seeking a Direct Deposit service, NewdominionDIRECT has it available. Please see their site for more details.

Not only does NewdominionDIRECT provide other accounts such as cd accounts, checking accounts and savings accounts, but they also have free online banking. With the online banking, you can make transfers, pay bills, and use the various services 24/7. Also, to make things easier, you can also view your statements online instead of having to file and organize all those papers that seem to get lost. Newdominion Bank also provides you with a free ATM/Debit card. The ATM/Debit card is more widely accepted than checks and allows you to withdraw cash from any ATM. However, this service is limited. An extend of 5 transactions may be made at other ATMs.

And finally, but certainly not least is the fact that New Dominion Bank’s accounts are FDIC insured!!

Read more about New Dominion Direct CDs.


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