Updated the rates in 'Quick Summary'. Now 4.91% for 50K+

Also, the minimum deposit and to avoid fees is now 10K instead of 50K (credit to MrFrugality).

newgrannie said:How has this bank account opening gone for those who have done it who are not local to the bank? What has your experience been so far with them? Thanks for any replies to help me decide.Just a few minutes ago, I started the same online application process that Cheap described earlier. I'll keep everyone posted on how it goes.

Any issues with setting up ACH to/from external accounts?

DAWG said:How do you fund or get money out? Do they offer ACH in/out/both or none?
I write checks to move money in/out. No web interface for accounts that I know of.

edit: They do have billpay but that's not what I have this account for...

Anyone see that they have Texas rates now? They are low and they don't have banches there so I'm not sure what gets you the lower rate. Any ideas?

How can I deposit and withdraw if I am local to the bank? thanks

Looks like it is gone. I applied today and this is the response I received today.
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Thank you for your interest in Hillcrest Bank. We received your application for our Index MM account; however we are no longer offering that account. We do have a new account called Performance Money Market. Please go to our website and it is outlined in detail, if you are still interested please contact me at 913-324-6483 and I would be happy to set one up for you.

Thank you,
Jennifer Jaramillo
Assistant Vice President
Hillcrest Bank
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Here is the link to their rates
http://www.hillcrestbank.com/rates.cfm#1004MoneyMarketAccounts

Got this in the mail yesterday:

Dear Customer,

Effective June 15, 2006 we will change the margins for our Index Money Market account

To:
$10,000 to $24,999.99 13-week T-Bill minus 100 basis points
$25,000 to $49,999.99 13-week T-Bill minus 75 basis points
$50,000 to $249,999.99 13-week T-Bill
$250,000 to $499,999.99 13-week T-Bill plus 5 basis points
$500,000 plus 13-week T-Bill plus 15 basis points

From:
$10,000 to $24,999.99 13-week T-Bill minus 25 basis points
$25,000 to $49,999.99 13-week T-Bill
$50,000 to $249,999.99 13-week T-Bill plus 30 basis points
$250,000 to $499,999.99 13-week T-Bill plus 45 basis points
$500,000 plus 13-week T-Bill plus 60 basis points

Until June 15th, your current rate will remain the same and no adjustments will be made. After June 15th, your rate will adjust to the new margins.

Your rates adjust on the first business Tuesday of the month following the first business Monday of the month.

The last 13 week T-bill index rate adjustment was 4.50%

Index and margins for this account are subject to change at anytime.

If you got in on while the Index MMA was around, it is still around and looks like a good deal until at least June 15th.