Evantage Bank Money Market Account

Evantage Bank is offering their "Mega Money Market Account" with an  annual percentage yield (APY) of 3.10 percent. The 3.10% annual percentage yield (APY) is on balances of up to $35,000. Account balances over $35,000 earn a 1.65 percent APY. Evantage Bank is the Internet banking division of Southwest State Bank based in Sentinel, OK.

The Mega Money Market account is like a checking account so you can make more than 6 withdrawals per month, unlike a traditional savings account where you are limited to only 6 withdrawals per month by law.

Evantage Bank charges $5.00 for each additional withdrawal over 6 per monthly statement cycle, a steep price to pay, so keep track of your withdrawals. The statement cycle ends on the third Wednesday of every month.

The account is easy to setup, you don't have to sign, fax or mail any forms in. You will have to provide a Social Security or Tax ID Number, Your Driver's License or ID card issued by a state DMV, information about any loans you might have to help them confirm you identify and for instant funding, you will need your current bank account and routing numbers. 

Evantage Bank Money Market Account Application