Exchange Bank Money Market Accounts — Tiered Rates & Check-Writing Access
Money market accounts at Exchange Bank earn more as your balance grows. Three tiers reward savers with progressively higher APY, check-writing privileges, and debit access — all under FDIC insurance up to $250,000 per depositor.
Exchange Bank money market accounts come in three tiers based on average daily balance: Tier 1 ($2,500–$9,999, 0.35% APY), Tier 2 ($10,000–$49,999, 0.55% APY), and Tier 3 ($50,000+, 0.75% APY). All tiers include check-writing (up to 6 per month), Visa debit card access, and FDIC insurance. The monthly fee of $12 is waived when the average daily balance stays at or above $2,500. Call (800) 397-3962 to discuss which tier fits your savings goals.
Rate Tiers
Exchange Bank Money Market — Three Balance Tiers
Your rate adjusts automatically as your balance moves between tiers. No paperwork needed to earn a higher rate — just maintain the balance and Exchange Bank handles the rest.
| Feature | Tier 1 ($2,500–$9,999) | Tier 2 ($10,000–$49,999) | Tier 3 ($50,000+) |
|---|---|---|---|
| APY | 0.35% APY | 0.55% APY | 0.75% APY |
| Minimum to Open | $2,500 | $2,500 | $2,500 |
| Monthly Fee | $0 (waived with $2,500 avg) | $0 | $0 |
| Check Writing | Up to 6 checks/month | Up to 6 checks/month | Up to 6 checks/month |
| Debit Card Access | Yes — Visa debit | Yes — Visa debit | Yes — Visa debit |
| ATM Fee Reimbursement | None | Up to $10/month | Up to $20/month |
| FDIC Coverage | Up to $250,000 | Up to $250,000 | Up to $250,000 |
APY = Annual Percentage Yield. Variable rate, subject to change. FDIC insured. See account disclosure for full terms and conditions.
Account Context
Money Market vs. Savings — Which Is Right for You?
Both account types are FDIC insured and earn interest. The difference comes down to access features and minimum balance expectations.
A savings account is the simpler option. Exchange Bank's Standard Savings opens for $25 and earns 0.15% APY. The High-Yield Savings requires $1,000 and earns 0.50% APY. Neither option includes check-writing or a debit card — they are pure savings vehicles for building an emergency fund or reaching a specific goal.
A money market account bridges the gap between savings and checking. You earn more than a savings account on larger balances, and you get limited check-writing and a debit card. This makes money market a practical home for funds you might need to access occasionally — a home repair reserve, a quarterly tax payment, or a business operating cushion — without locking the money away in a CD.
If your balance is consistently above $50,000, the Tier 3 rate of 0.75% APY is meaningfully better than any savings option. At that balance level, a CD ladder may also be worth considering: you could split the funds across multiple CD terms to capture higher locked-in rates while keeping some liquidity in the money market account.
Customers with variable balances who dip below $2,500 regularly should consider starting with a high-yield savings account and moving to money market once the balance stabilizes above the fee threshold.
Account Features
What Your Exchange Bank Money Market Account Includes
Beyond the tiered APY, every money market account at Exchange Bank comes equipped with tools that make management straightforward.
Check-writing is available for all three tiers, limited to 6 checks per statement cycle. Checks drawn on the account clear in the same timeframe as standard personal checks. This makes the account useful for occasional large payments — property tax bills, insurance premiums, contractor invoices — without needing to transfer funds to checking first.
The included Visa debit card lets you access funds at ATMs and make point-of-sale purchases directly from the account. Tier 2 and Tier 3 customers receive monthly ATM fee reimbursements, reducing the cost of using out-of-network machines. Debit transactions count toward the 6-transaction monthly limit.
Online banking and the mobile app provide full account management: balance monitoring, transfer scheduling, statement downloads, and account alerts. You can set custom alerts to notify you when the balance approaches the fee threshold, so you are never surprised by a $12 charge. For questions, Exchange Bank customer service is available at (800) 397-3962.
FAQ
Exchange Bank Money Market — Questions Answered
Common questions about money market accounts versus savings, minimum balances, check writing, FDIC coverage, and rate changes.
How is a money market account different from a savings account?
A money market account typically offers higher APY than a standard savings account, requires a higher minimum balance, and adds check-writing privileges and debit card access. Exchange Bank money market accounts start at 0.35% APY (Tier 1), compared to 0.15% APY on Standard Savings. Both are FDIC insured up to $250,000. See the savings account page for a direct comparison.
What is the minimum balance for Exchange Bank money market accounts?
Exchange Bank money market accounts require a $2,500 minimum opening deposit. To avoid the $12 monthly maintenance fee, maintain an average daily balance of $2,500 or more throughout the statement cycle. Balances above $10,000 automatically earn the Tier 2 rate, and balances above $50,000 earn the Tier 3 rate — no account changes required.
Can I write checks from an Exchange Bank money market account?
Yes. Exchange Bank money market accounts include a checkbook and allow up to 6 checks per statement cycle. Written checks count toward the 6-transaction-per-month limit along with electronic transfers and debit card transactions. Exceeding 6 transactions may result in an excess transaction fee of $10 per transaction. If you need unlimited check writing, a personal checking account is more appropriate.
Is my Exchange Bank money market account FDIC insured?
Yes. Exchange Bank money market deposit accounts are FDIC insured up to $250,000 per depositor per ownership category. This is distinct from money market mutual funds, which are investment products not covered by FDIC insurance. Exchange Bank money market accounts are bank deposit products — your principal is protected. For more information on FDIC coverage, visit fdic.gov.
How often does the APY on Exchange Bank money market accounts change?
Money market APY is variable and can change at any time based on market conditions and Federal Reserve rate decisions. Exchange Bank reviews rates regularly and notifies customers of changes through account statements or secure messages. Rate changes apply going forward and do not affect interest already credited to the account. For current rates, call (800) 397-3962.
Related Services
More Exchange Bank Savings & Account Options
Savings Accounts
Standard and high-yield savings with FDIC coverage and automatic transfer support.
View Savings →Certificates of Deposit
Lock in guaranteed rates from 3 months to 5 years. Higher APY than money market for committed funds.
View CD Rates →Checking Accounts
Free, interest, and rewards checking with unlimited transactions and a Visa debit card.
View Checking →