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Western State Bank 2.50% APY MMA Review

Western State Bank 2.50% APY MMA Review

Western State Bank offers a whopping 2.50% APY on their Money Market Account.

This account has no minimum balance requirement and is currently the highest-paying interest on the market at the time of this writing. If you find a better one with no minimum, let me know!

No minimum balance, 2.50% APY

Given that this MMA has no minimum balance requirement, you can put in any amount, up to the 3M max and earn a nice 2.50% APY on your money. This isn’t a promo, so the rate may change at anytime. If you’re looking for the best rate you can get, this would be it.

Other banks such as NASB require a $50,000 minimum to get the same rate. Western State Bank requires none and is definitely a bank to consider parking your cash.

No monthly fees, ACH transaction details

The MMA has no service fees, free incoming wires and will refund the outgoing wire if the outgoing bank charges you. There’s also 1 free outgoing wire per month, additional outgoing wires will cost $22.

ACH transactions have been reported boe allowed up to $25,000, with a maximum of 6 outgoing ACH transactions of $25,000 per day each, for a total of $100,000/month.

6 free withdrawals per month, with a $5 charge per each after the first 6. Outgoing wires incur a fee, incoming wires are waived.

Overall thoughts

Decent choice to consider parking your cash here, no matter what you’re saving since you’ll get the full 2.50%. No fees and plenty of flexibility with transfers. Again, it’s the highest-paying APY right now.

What do you think?