My Banking Direct Money Market
Earn More. Save More
for balances $5,000 and over
for balances below $5,000
Plus, Get $50 when you download and activate NYCB Mobile**
Great rate and easy access
- High yield, easy to open online account
- $2,500 to open
- No minimum balance required
- No monthly maintenance fees
- NYCB Online and NYCB Mobile with mobile deposit1
- View e-Statements and e-Documents
Save more with Sweep
Sweep Functionality2 - select the balance you want to maintain in your My Banking Direct Checking account, and our sweep service will automatically transfer or "sweep" the funds that are over that pre-selected balance amount from your checking account, into your My Banking Direct Money Market account each day.
How to open an account in just minutes.
- Input your info - Provide your name, address, phone, email and social security number or Tax ID.
- Fund the account - Transfer funds electronically from an internal account here or an external account at another bank.
- You're all set - Set up the sweep option to your money market account. That's it!
Let's Get Started
* The Annual Percentage Yield (APY) is accurate as of March 23, 2017; and is subject to change without notice. The My Banking Direct Money Market Checking is a tiered rate account. If your daily balance is $25,000.00 or more, the APY is 1.15% and the interest rate is 1.14%. If your daily balance is between $5,000 and $24,999.99, the APY is 1.15% and the interest rate is 1.14%. If your daily balance is below $5,000.00, the APY and interest rate is 0.25%. We reserve the right to change the rate at any time without notice. Fees could reduce earnings. Bank is not responsible for typographical errors. NYCB reserves the right to cancel or modify this offer at any time without notice.
** The $50 bonus offer is available from March 3, 2017 through April 15, 2017. To earn the $50 bonus you must deposit a minimum of $25,000 to a new MBD Money Market Checking account, enroll in NYCB Online, download the NYCB Mobile App and log into your account on the NYCB Mobile App within seven (7) calendar days from account opening. Once each condition is met, bonus will be credited to the MBD Money Market Checking account within 10 business days, and may be reportable to the Internal Revenue Service (IRS). Account must be opened with funds not currently on deposit with the Bank. Bonus offer is not available to existing account owners or those with accounts that have been closed within the last 180 days. One bonus per household. This offer is subject to change at any time and cannot be combined with any other offer. Standard messaging and data rates may apply.
This account is subject to certain transaction limitations. Please refer to the All About Your Accounts disclosure for details.
1 NYCB Mobile is available for those enrolled in NYCB Online, however not all online features may be available through the mobile app. Standard messaging and data rates may apply.
2 Funds over your pre-selected balance amount in your My Banking Direct Checking account at the end of each business day will automatically sweep (transfer) to a higher yield account of your choice such as the My Banking Direct Money Market Checking account. Prior to selecting the balance amount to be retained in the My Banking Direct Checking account, be careful to ensure that enough money is available in the account at all times to cover the items that you write and/or authorize. To transfer funds back to your checking account, you must sign on to NYCB Online and make the transfer manually (subject to certain restrictions). Should the sweep cause insufficient funds for inclearing items (checks, ACH debits, etc.), you are responsible for all possible fees. The sweep service will remain in effect until changed or terminated. You or the Bank may terminate the sweep service upon written notice of termination to the other party. To change or terminate the service, sign on to NYCB Online, select "Messages" in the right border of the page to send a secure message. Please allow three business days for the change or termination to be processed.
Not available to current Earn>More Money Market Checking account customers.