earn.bank accounts offer competitive interest rates. The rates are competitive with other online accounts. Their interest rates are much higher than typical bank rates.

The money market account through earn.bank has a low opening required amount. To open this account only requires $100.

The earn.bank money market account does not have tiered interest rates. You do not have to have a set amount in the account to earn the most competitive interest rate.

All earn.bank accounts are entirely online. You can open their money market account or CD terms from anywhere. Because they are an online bank, the interest rates are much higher than typical bank rates. To open an account, you must have a social security number and a government issued ID. You must have the amount required to open the account. You can fund the initial amount with a credit card, or external savings or checking account.

To open a CD with earn.bank requires a large sum. Each of the CD terms require $25,000 to open. The CD terms available are a one-year and a two-year.

The money market account has a monthly maintenance fee of $10. To waive this fee requires an account balance of $10,000. This fee is not assessed for the first three months of opening the account. After that time, if you do not have a $10,000 balance, you will be charged $10 each month that the balance is below $10,000. There is also a $25 paper statement fee. Avoid this fee by signing up for electronic statements.

The easiest way to withdraw money from your MMA is to link the account to an external account. The linked account allows you to also deposit money easily into your earn.bank accounts. You can withdraw money through a wire transfer by calling customer service.

earn.bank does not offer a wide variety of accounts. They only offer one personal deposit money market account and two CD terms. The CD terms offered are a one-year and two-year term. They do not offer checking accounts, savings accounts, or business accounts.

Read the full Earn Bank review.

Interest rates on Merrick Bank CDs offer competitive interest rates. The rates are competitive with other online CDs. They are much higher than other brick and mortar bank rates.

Merrick Bank offers personal credit cards. They offer a Secured Visa credit card specifically to build or rebuild customer’s credit. They also offer a Platinum Visa for customers who have better credit. Each credit card comes with Zero Liability for Unauthorized Use and account alerts.

Merrick Bank is an online account. Once you are approved to open a CD everything else for your account is online or on the mobile app. You can deposit or withdraw money from the CD during the grace period or at maturity.

The Merrick Bank 12-month CD term offers competitive interest rates. The interest you earn is credited to your account each month. You can watch your money grow. You can withdraw money from your CD during the grace period or once the CD reaches maturity.

To open a CD through Merrick Bank requires a large sum. The 12-month CD requires $25,000 to open the account. The opening deposit must be one transaction. Deposit money electronically through a linked bank account.

When applying for a CD with Merrick Bank, you must qualify. Each CD is carefully reviewed. Acceptance to open a CD is based on the person's credit. If you do not meet the set criteria, you cannot open an account with Merrick Bank. If you receive an offer in the mail, you are eligible to open a CD.

After you apply for an account with Merrick Bank, you will receive a letter in the mail. This will inform you if you qualified for an account or not. The letter takes two to three weeks to receive. If after the allotted time you have not heard from Merrick Bank, you can call customer service.

Merrick Bank offers a limited amount of personal deposit accounts. Only one 12-month CD is available. They do offer personal credit cards and lending options. This bank helps customers build or rebuild their credit. To open an account, you must qualify.

Read the full Merrick Bank review.