East West Premier Maximizer Money Market Checking Account

A money market account is basically a savings account with checking account features, such as a debit card and checks. 

With money market accounts, check writing is limited, as well as withdrawals, as per SEC Regulation D.

Just like savings or interest-bearing accounts, money market accounts also earn interest, and rates are usually better than on a savings account. As this might not always be the case, and considering minimum opening deposit requirements are higher, one should always shop around prior to making a decision. 

A combined average monthly balance includes the money you keep across all of your eligible consumer deposit checking accounts with East West Bank.

You can have the $12 monthly fee waived, thus saving $144 per year, if you keep either $2,500 in your Premier Maximizer Money Market Checking account, or at least $10,000 across several East West Bank consumer deposit checking accounts.

Yes, Premier Maximizer Money Market Account is FDIC-insured, up to $250,000, which means you won't lose your money if your bank fails.

FDIC Insurance covers your money to up to $250,000, so, if you're looking to keep more in your Premier Maximizer Money Market Checking, you might want to consider enrolling in East West Bank's Insured Cash Sweep (ICS) program. ICS allows you to access your funds anytime without penalty, and you can deposit up to $125 million.

In order to have free access to Allpoint and MoneyPass ATMs as a Premier Maximizer Money Market Checking accountholder, you need to have the East West Bank Visa card. While at an ATM, if the screen says you'll be charged a fee, don't worry - it won't happen. Just accept it by pressing "Yes" and proceed with your withdrawal. In the event the surcharge does occur, East West Bank will reimburse you at the end of the banking cycle.

You'll enjoy free access to the bank's ATMs if you link either a Premier Checking or Value Checking account to your Premier Maximizer Money Market Account.

Convenient, and time-saving, East West Bank's Online Banking allows you to review your deposit account balances, check account history, view cleared checks and estatements, pay bills, transfer funds between accounts, make person-to-person payments, and manage your account profile (change your address, etc.).

You can use Popmoney® to send or request money to/from someone if you provide the person's mobile number, email address or account number. The other account doesn't necessarily need to be with East West Bank, it can be at another financial institution.

Another convenient feature of Popmoney® is that it allows you to set up one-time or recurring payments, with next business day or 3-business-day service options.

Yes, you can transfer up to $2,500 per day or up to $10,000 within a rolling 30-day month. This comprises both incoming and outcoming transfers.

East West Bank's Text Banking is a free service provided by the bank to help you manage your account more easily.

Text Banking allows you to check your balances, review transaction history, transfer money between accounts, pay bills, and set up alerts, whether it be weekly balance alerts, low balance alerts, or customized alerts to track activities that exceed $100 on your account, etc.

You can activate Text Banking directly from your Online Banking account - you'll find the option under the "Notifications" tab. Enter your cell phone number, and accept the terms and conditions, before clicking "Next". You don't even need to log in to your account afterward, just send a command, such as "BAL" for "balance" or "LAST" for last 5 transactions of your primary account, at 454545.