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According to their customer service, this is not a teaser rate and they have "no plans to lower the rate unless there is a significate change in the market conditions".

Good alternative to a CD for those looking to park over $25K. As with any MMA, you can write checks. $1,000 to open and must maintain $3,500 avg balance to avoid fees.

Please keep in mind that it's not a good option if you can't keep over $25K in this account as the rate is lower than at ING or Virtual Bank (although still a decent 1.75% for over 10K) for balances below this threshold.

They have B&M presence in N. Virginia.

Very good offer.
Similar to the FIRST RATE DEPOSIT (FReD) ACCOUNT at SUPERIOR SAVINGS (http://www.superiorsavings.com/specials.asp)

Interest rate of 3.00%
Annual Percentage Yield of 3.04%
Minimum $10,000 balance required to open account and obtain the advertised APY
If account balance drops below $10,000 during any period of the month you will forfeit any accrued but unpaid interest

The Superior Savings is a very good offer too and I agree that the $10K minimum balance to get the 3% rate is better than $25K. However, I don't see any easy way to get the money out of the Superior's account unless you have a branch nearby or maybe open a checking account with them. The Access National allows you to write checks against your balance which makes it much easier to manage.

alex7 said:The Superior Savings is a very good offer too and I agree that the $10K minimum balance to get the 3% rate is better than $25K. However, I don't see any easy way to get the money out of the Superior's account unless you have a branch nearby or maybe open a checking account with them. The Access National allows you to write checks against your balance which makes it much easier to manage.

You can open a free "Rapid Link" ($1 minimum; no interest) checking account there and transfer funds over the phone.

Access is in decent financial shape (and FDIC insured of course).

I opened a money market account at Access National. Everything went smoothly and the people there are friendly. They do ask you to send them a copy of your driver's license.

Sorry to be slightly off topic...

You could always open an account at Superior Savings. They don't seem to have any problems with out-of-state accounts. I have a FReD account open with them, even though I am in DC and they are in New England somewhere.

See this thread. 3.04% APY.
http://www.fatwallet.com/t/52/357843/

Access National Bank is only accepting new applications for their 3% money market account if you live in Virginia, Maryland or DC. So, this is no longer available to most of us.

Access do make hard inquiry. Don't try Access if you are live outside New England. I turn to Superior and have no hassle at all. No question, no hard inquiry. Text

In Michigan, the average money market accounts with teeny opening balances are averaging about 3% yield, and that's your traditional B&M banks like BankOne, Standard Federal & Charter One.

Some banks are paying 3.25% (Hungtington Bank & Trust).

Again, these are traditional B&M banks, and the money is completely liquid at all times.

Rates are definitely on the way up. I remember when 6 month CDs were paying 6.5% back in 1999. I think we're on the way back up, because of global growth, even if the US is slumping.