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BankOn

Category: Checking Accounts, Local Bank Deals, Money Market Rates- fhuff- 5:44 pm/ November 17, 2009

BankOn has a money market with a 2.05% annual percentage yield (APY), plus a $50 cash bonus. Money market accounts are available only to residents of Nebraska, Colorado, Kansas, Missouri, and Wyoming.

  • Money market accounts only available online
  • Automatic transfers from BankOn checking accounts
  • No minimum balance after opening
  • No checks
  • Online statements only
  • Mobile banking and telebank
  • Use U.S. checking account, credit card, or debit card to fund money market

You must open both a BankOn money market and checking account to receive the $50 bonus. The $50 bonus is paid within 10 days of opening the account. Each household is limited to one bonus offer.

BankOn checking account requires a $100 minimum opening deposit and allows you to have an unlimited number of transactions. The checking account also must be opened online with the money market account. Other checking account features include free Visa check card with cash back rewards, Visa credit cards subject to credit approval, and free bill pay.

You must be a U.S. citizen or U.S. resident alien to open an account. Resident aliens need two forms of ID to open an account.

BankOn accounts are insured by the Federal Deposit Insurance Corp. The bank is part of Pinnacle Bank.

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