The Premium Money Market account pays a decent APY and requires $1,000 to open. You need a balance of $100,000 to earn the top APY on this account. The account comes with a OneWest Bank ATM card, free online bill pay and access to all the bank's online and mobile banking conveniences. The $10 monthly service charge is waived with an average monthly balance of $10,000.
The Premium Money Market Account requires a high balance ($10,000) to avoid the $10 monthly fee.
A very high balance ($100,000) is needed to earn the highest APY.
You can find higher yields at other banks, especially online banks.