The rates went down slightly on BoA's Defenders of Wildlife (DW) Money Market Savings Account. But the rates still remain very competitive with the top yield of 5.69% APY. It appears the rates are changed on Fridays. Here's the current rate table for Texas (rates vary some by state). These same rates also apply to the Humane Society of US (HS) Money Market Savings Account.
Balance Rate APY
Less than $2,500 2.97% 3.01%
$2,500 - $9,999 5.20% 5.33%
$10,000 - $24,999 5.30% 5.43%
$25,000 - $49,999 5.30% 5.43%
$50,000 - $99,999 5.55% 5.69%
$100,000 - $499,999 5.55% 5.69%
$500,000 - $2,499,999 5.55% 5.69%
$2,500,000 and over 5.55% 5.69%
From the comments of of the previous post, there was some confusion about this account. It's important to remember that this is not BoA's typical savings account. It is not available at BoA's branches. I was told by the banking rep via the online chat that it's only an online offer.
A reader left a comment in the last post with some more background on this account. From his conversations with the BoA Affinity department, he was told that these charitable accounts are holdovers from the MBNA buyout, and BoA keeps quiet about them as they don't want a lot of clients moving to 5%+ interest rates. There have been other BoA affinity accounts (AAA and NEA) that have had similar high rates for the last several months (see post). Those accounts were intended to be for AAA or NEA members. However, these DW and HH accounts do not have any implied requirements for an organization membership.
Another important note is that this Money Market Savings is a bank savings account that is FDIC insured. It is not a brokerage money market fund. For more details of this account, please see my last week post.
Thanks to the reader Scott who mentioned this rate update.