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Money market rates are averaging 1.22% for deposits under $10,000. However, Nationwide Bank is offering rates of 1.7% on all of its money market accounts as of Oct. 26. Nationwide money market accounts include:

• Free online banking and online statements
• Free first order of checks
• Free ATM card
• Two free ATM transactions a month at non-Nationwide Bank ATMs; after that they are $1.50 per transaction
• Free transfers between money market account and other banks
• $1,000 minimum opening balance

The money market is required to have  a $1,000 minimum daily balance or an $8 monthly maintenance fee is charged. Money markets also allow six pre-authorized withdrawals during each monthly statement cycle. That includes telephone or electronic transfers, check, or point-of-sale transactions.

Nationwide Associate and Agency Banking Program members don’t have a monthly maintenance fee and are allowed a minimum opening balance of $250. They also get free transactions at non-Nationwide Bank ATMS, although there may be a surcharge from the ATM owners.

Nationwide money market accounts offer Federal Deposit Insurance Corp. (FDIC) insurance up to $250,000 per depositor through 2013.

Nationwide Bank is based in Columbus, Ohio, and provides a range of insurance and financial products. The company is rated A+ by A.M. Best.

If you think you’re paying a lot of interest on your credit card, it may not be as bad as one being offered by First Premier Bank. The Sioux Falls, S.D.-based bank  recently sent a mailing to a potential customer for a pre-approved credit card that offers 79.9% interest and a $300 limit, according to WKYC.com.

Credit card offers with interest rates that high don’t seem to be that common. But such offers from banks are usually targeted at people struggling with their credit. Gordon Hageman, who received the offer, said he doesn’t have the best credit but didn’t think it was that bad. He discovered the high interest rate when reading through the terms of the offer.

In addition to the high interest, First Premier Bank credit card offers can have up to $180 in start up fees, according to Consumer Affairs. Those fees include:

• A $29 set-up fee
• $95 program fee
• $48 annual fee
• $72 participation fee

An important lesson to learn from this situation is to always read through all the terms of any credit card offers you receive from banks. The terms should break down all fees, interest rates, and other features of an account. Also look for information on the grace period for payments and how interest is calculated.

Open a new personal checking account at Citizens Bank and earn a cash bonus of up to $220. You have until Nov. 13 to take advantage of this bank deal. The amount of the cash bonus you receive is:

• $50 when you set up direct deposit
• $25 when you make five online bill payments
• $25 when you make five debit or credit card purchases
• Up to $120 a year when you go paperless by enrolling in Green$ense

You can choose from several personal checking accounts. They all include unlimited check writing, free ATM or debit card, free online bill pay, and FDIC insurance.

Some of the accounts offered are the Green Checking, which has no monthly maintenance fee, can link to overdraft protection, and has a rewards program. Circle Gold Checking offers interest and free checks, but has a $20 monthly maintenance fee for accounts with a combined balance of less than $20,000 on all Citizens Bank accounts.

Circle checking has a $15 monthly maintenance fee for accounts that have a combined balance of less than $7,500. It also offers interest and free checks. The Personal Checking with interest has free checks and a monthly maintenance fee of $10 for accounts with a balance of less than $1,000.

You can get up to a $75 bonus for opening an M&T Bank checking account. You can open it online, by phone, or in a bank branch. M&T Bank has branches and ATM access in Delaware, Maryland, New York, Pennsylvania, Virginia, West Virginia, New Jersey, and Washington, D.C.

Details of the bank deals on checking accounts include:

• Overdraft protection and direct deposit required to receive cash bonus
• Free online banking and bill pay
• Check card available

For the Direct Checking account, there is no monthly fee with direct deposit or if the balance of the combined accounts is $1,500. There is unlimited check writing. This account pays a $25 cash bonus with direct deposit.

The Select Checking account is available with interest. There is no monthly fee if the average daily balance is $5,000 or if there is a combined balance of $10,000 with other eligible accounts. If the balance requirements aren’t met, the monthly fee is $14.95. This account pays a $50 bonus with direct deposit.

The Classic Checking account offers free checking for people 50 and older. There is no minimum balance or monthly service fee. This account pays a bonus of $25 with direct deposit.

Savings rates are averaging 1.48% APY, but you can earn a little more than that with a Capital One Direct Banking savings account. Savings rates on Capital one accounts depend on the account balance, and you need a minimum of $10,000 to earn a 1.6% APY. Other details of the savings account offer include:

• Free online transfers to and from non-Capital One banks
• No fees
• No minimum balance required
• Balances under $10,000 earn a 0.6% APY (as of 10/08/09)
• Savings are FDIC insured up to $250,000 per depositor

Savings rates can change at any time. Interest is compounded daily and credited monthly. There can only be six withdrawals during each calendar month. You cannot get an ATM card with this savings account.

It takes three business days for a withdrawal to be completed when money is transferred to another account. Deposits from external accounts are completed one business day after the transfer is initiated. You can deposit money into savings by online transfers, depositing a check, or wiring money. Accounts from several banks can be linked to a Capital One Direct Banking savings account.

Account statements are sent quarterly, but if there is activity in the account statements are sent monthly.