Dedicated to Deposits: Deals, Data, and Discussion

Zions Bank Increases Top Yield on Deseret Money Market Account to 5.56%


Zions Bank
Zions Bank just increased the yield on the top tier of its Deseret Money Market Account from 5.36% to 5.56% APY. This top tier requires a minimum balance of $50,000. Balances between $1k and $50k continue to earn 5.30% APY. For some reason, Zions doesn't clearly advertise this account from their main website. It's listed on their website at and at This should not be confused with Zions' Internet Money Market which has always had a lower rate than the Deseret account. I first reported on this Deseret account in July 2006. It has always maintained top rates.

The main perks of this account include the lack of monthly fees and limited check writing. The main downside in my opinion is a very restrictive ACH transfer service. The last time I called in May I was told by the banking rep that there's a $500/day limit in or out. However, a reader commented in the previous post that Zions had told him that they can permit larger transfers upon advance request. Also, the banking rep said that they don't block ACH transfer requests initiated at your other banks.

For those looking for a strong bank with good customer service, Zions may be a good choice. Several readers have reported being impressed with their customer service. The bank has been FDIC insured since the FDIC program started in 1934. It has 152 branches in Utah and Idaho with over 2,500 employees. still rates the financial strength of Zions as 4 out of 5 stars (sound).

Please see my May Zions Bank post for more details of this Deseret account.

Thanks to the reader Rainman who mentioned this rate update.

  Tags: Zions Bank, savings account

Related Posts

Comment #1 by Kevin Spring (anonymous) posted on
Kevin Spring
Yea, they sent this information to all their customers.

Their customer service is spectacular. I shouldn't be impressed with this but when you call this bank an actual person picks up the phone and says hello. I have never had an automated phone service with Zions.

Comment #2 by Anonymous posted on
500 dollars in/out per day? How the heck do you fund it with 50,000? By wire or mail?

Do they soft pull?

Comment #3 by Anonymous posted on
I have it linked to GMAC and move money using the GMAC web page. Works well for the several banks which have limited internal ACH capability.
Will be moving some of my HSBC and Emigrant money now that the Zion rate is 0.5% higher than those two !!!