Offer at a glance
- Interest Rate: 2.41% APY
- Minimum Balance: $100 to open
- Maximum Balance: None
- Availability: Nationwide
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Up to $500, Visa, Discover, and Mastercard only
- Monthly fees: $10, avoidable
- Insured: FDIC
The Offer
- Earn Bank is offering 2.41% APY on the money market account
Avoiding Fees
This account has two large fees:
- $10 monthly maintenance fee, this is waived with a $10,000 minimum average daily balance
- $25 paper statement fee, waived if you switch to paperless statements
Our Verdict
Other savings accounts offer higher yields, although this is one of the top current rates. The downside is that you need $10,000 deposited to waive the monthly fee and we don’t know whether it’s a hard or soft pull to open.
Hat tip to reader Tim K
Credit card funding is gone. There are only 3 options – check, checking/savings, wire.
DoC,
William Charles 
Chuck
I made a “mock application” to see how much CC funding was possible. Personally not interested in this offer but had some extra time and wanted to help other readers. CC funding is limited to Discover, Visa, Mastercard. The funding amount seeming has no limit. I put as high as $50,000 and a green check appeared next to the funding amount suggesting that was okay. If anyone wants a chance at very high MS I would suggest trying so. I do not have that high of CL’s outside of Amex so I could not actually go through with it. Hope this helps somebody and you have a found a little gold mine.
Wow, I really hope someone tries this to prove out if this is a gold mine or not. I may be able to try it in a few months.
Credit Card funding is limited to $500. Just tried it myself.
Not true.
“When funding the initial deposit by means of a Credit/Debit Card, the total funding amount may not exceed $500. **Note** This transaction may be processed as a cash advance by your credit card issuer, who may also impose added fees and interest charges. Please refer to your credit card issuer’s card agreement“
Where did you read that?
On the “funding your account” page
Um…it’s right there, right above the “Customer Funding Method” drop-down menu where you selected to use CC funding. O.o
https://i.imgur.com/A2QrLH1.png
I was on mobile and must not of seen it. Sorry for getting people’s hopes up, did not mean to mislead.
$50k funding would be so nice! Reminds me of Citi in the old days
Does it state whether or not you can use Amex? I’m finding very few banks take Amex. Thank you
Crap, sorry, I see that now, but didn’t see it in the comment about the $500 limit. Mans,it seems no banks want to deal with Amex for funding. The only one I have had luck with recently is Memory Bank, but I already have 4 accounts with them, not sure how hard I want to push it.