bank rates

5.36% APY Money Market Rates @ AmTrust Direct

AmTrust Direct’s money market account is paying out 5.36% APY, which is a pretty high rate compared to other banks.

Another plus is that AmTrust Direct requires only a $1,000 minimum to open the account and to earn the rate. This bank is a good alternative to the ING Electric Orange.

Money market rates vary and the money market account is insured by the Federal Deposit Insurance Corporation if the money market account is opened with a bank. Most money market accounts have predefined regulations associated with them and the investor must make a minimum deposit and will also be required to maintain a minimum balance in the money market account. When considering money market rates it is beneficial if the investor review all of the restrictions associated with the money market account before they make the investment. Understanding when money can be withdrawn, how much money can be withdrawn and the responsibilities expected of the consumer is important if the investor is to be successful with a money market account.

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Comments (5)
1 Star2 Stars3 Stars4 Stars5 Stars (12 votes, average: 4.58 out of 5)
5 Existing Comments
  1. virginia victorian said:
    on April 15th at 08:09 pm

    Just opened up an AmTrust e-money market account with APY of 5.36%. We’ll see how easy it is to transfer money in and out to linked account. did find an ‘early termination fee’ of $25 for closing in less than 181 days. otherwise it looks good with no strings attached. we’ll see if they keep their rates the best for modest deposit amounts.

    i did a check on AmTrust – a subsidiary of Ohio Savings Bank – and they only got 2 stars out of 5 (underperforming) – that their capitalization wasn’t the best. anybody know if they’re exposed to a lot of subprime mortgage defaults? how would you go about getting your FDIC insurance for an account if a bank went under. I assume they are paying best rate, because they need the cash the most. Are they strong/Legit???

  2. david said:
    on June 9th at 08:45 pm

    Any experience with this vehicle? I noticed with regard to their CD and on line banking there were problems. Thank you for any insight.

  3. cd guy said:
    on July 26th at 01:49 pm

    Opened account with them recently. The website is secuired, transfer are quick and available rightaway. Pays the best rate on savings(not cd). I plan to keep my money till I find a good rate for a cd. Very pleased with the bank.

  4. agio said:
    on July 29th at 09:57 pm

    Been with these guys over a year now….no BS teaser rates…pays the most…U.S. based….transfers to and from problem free…live rep available when needed without undo waiting time. FDIC insured. Why bother with anyone else?

  5. Dave Owens said:
    on September 21st at 03:21 pm

    well matt you sound like just a little boy that is having too much fun