Equity Bank

Great Rate But Difficult To Close Money Market Account

I discovered their Luminary Money Market account and invested in 2023. It was quite easy to open the account and to set up online transfers; however each ACH transfer from their platform costs $2.55 which is quite unusual. I asked for a set of checks and they sent a very generous supply.
My wife and I agreed that all our accounts should be JOINT and there was no way to convert my MMA with them to a joint account, so I called to close it. I was told to move all the funds out and then call to close the account, which I did. However I got a letter in the mail that I had overdrawn by $2.55 - the ACH transfer fee - so I had to mobile deposit a check. I messaged them asking to close the account and was told they would. However the account stayed open with $1.73 interest added and a $10 monthly below-balance service charge added. Calling a 3rd time they waived the $8.27 deficit and finally closed the account!
If I had been able to make it a joint account, I would have kept it and enjoyed the flexibility of occasionally writing large value checks on it at times that I would not want to charge my regular checking account.
They now offer a Surge MMA with 5.35% APY which is quite good.