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 deseret.zionsbank.com and at deseretfinancial.zionsbank.com. 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. Bankrate.com 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.