Bank of Hope’s Personal Money Market account, the product scored for this section, pays below-average rates. There is also a high $2,500 minimum deposit to open the account and you must maintain a daily minimum balance of $2,500 to avoid a $10 monthly service charge.
The bank also offers a Prestige Money Market account, but the minimum opening deposit is $25,000, making this product out of reach for many consumers.
Account holders who sign up for e-statements receive a $3 credit toward monthly service charges.
A $2,500 minimum balance is required to avoid the $10 monthly service fee.
At least $500,000 is needed in the account to earn the highest APY.