Northpointe Bank Unveils Ultimate Money Market


Deal Summary: Ultimate Money Market, 1.50% APY on balances between $25k - $1m, rate guaranteed for at least 12 months from account opening.

Availability: Nationwide

Over the past two years, Michigan-based Northpointe Bank has been added a series of “Ultimate” accounts, including Ultimate Checking and Ultimate Savings. Northpointe Bank is ending the month by introducing the Ultimate Money Market with a truly "spook-tacular" 1.50% APY on balances between $25k and $1m, with a rate guarantee for “at least 12 months from account opening.”

1.50*%$25k$1mNorthpointe BankUltimate Money Market
OTHER TIERS: 0.20% Up to $2,500 | 0.25% $2,500 - $25k
Rates as of April 19, 2018.

Balances between $2,500 and $24,999.99 earn 0.25% APY, with balances less than $2,500 earning 0.20% APY.

The Ultimate Money Market is so new it doesn’t yet have a landing page on the Bank’s website. The following information is taken from the Terms and Conditions document.

After the 12 month promotional period, your interest rate and annual percentage yield may change at any time.

If the balance in the account exceeds $1,000,000, the amount in excess of $1,000,000 earns interest at a rate of 0.50%.

A deposit of at least $1,000 is required to open this account.

A fee of $10.00 will be charged against the account if it is closed within 120 days of the date opened.

A year ago in a blog post about the Ultimate Savings, I included a section about information that’s not available on the Bank’s website. I’ve confirmed that the following statements are still in effect. Bottom line, moving money into and out of the account is best done by using the ACH transfer service of another bank.

Is there an ACH transfer service that customers can log into and initiate a transfer to/from accounts at other banks?

    Yes, this is offered in Online Banking within the Bill Pay section.

Is it free to initiate ACH transfers?

    There is no charge to pull money into Northpointe Bank via ACH. There is a $3 per transfer fee to push money out of Northpointe Bank via ACH.

What's the maximum dollar amount for incoming and outgoing transfers?

    Limits are dynamic based on the account relationship. New customers have a $2,000 limit per rolling seven (7) days. That limit can increase to $10k over time based on average balance and account activity.

For the ACH transfer service, how many accounts at other banks can be linked to?

    At some point, I believe there is a maximum limit but I am unsure on the exact figure (I have several set-up and would think 3-5 would suffice for most consumers).

Does Northpointe allow ACH deposits and/or withdrawals that are initiated by you from another bank?


How many days after an ACH deposit are the deposited funds placed on hold (inaccessible)?

    Typically available same day received/processing.

What is the transaction time for ACH transfers for incoming and outgoing transfers?

    We process the same day as received. Typical transfer times through the Fed result in 2-3 business days between when an ACH is sent and when we receive/deposit the funds. This may change soon with Same Day ACH going into effect.

My final questions concerned the ability to establish beneficiaries and trust accounts.

    Yes, beneficiaries (i.e. POD or ITF) can be listed.

    Yes, multiple beneficiaries can be listed.

    Name, address, SSN, and DOB are required for each beneficiary listed.

    Yes, the account can be opened as a trust account, although Trust accounts cannot be opened via our online application. Trust accounts can be opened via phone (888-672-5626) or in-person (only branch is in Grand Rapids, MI). A copy of the Certificate of Trust Existence and Authority document is required as part of this process, in addition to the standard information required of the trustee(s) – name, address, SSN, DOB, copy of government issued ID, etc.


Headquartered in Grand Rapids, Michigan, Northpointe Bank offers its services and product line to U.S. residents in all 50 states with a valid Social Security number or TIN.

Opening an Ultimate Money Market, as well as any other Northpoint Bank account, can be done online, or at the Bank’s single brick-and-mortar branch located in Grand Rapids.

Bank Overview

Northpointe Bank has an overall health rating of “A" at, with a Texas Ratio of 4.74% (excellent), based on June 30, 2017 data. In the past year, Northpointe Bank has increased its total deposits by $140.59 million, excellent annual growth rate of 41.31% growth rate. Please refer to our financial overview of Northpointe Bank (FDIC Certificate # 34953) for more details.

Northpointe Bank is currently the 15th largest bank headquartered in Michigan, with assets in excess of $694 million. A relatively young institution, Northpointe Bank was founded in 1999 by Charles Williams, the current President and CEO. In April, the Bank was ranked by Independent Community Bankers of America (ICBA) as one of the top performing financial institutions in the country among banks with assets between $300 million and $1 billion. ICBA also named Northpointe Bank in 2014 as a "top-performing lender, one out of nearly 450 community banks that have been successful in providing loans to individuals, families and small business."

How the Ultimate Money Market Compares

When compared to the Money Market Accounts tracked by that are available nationwide, Northpointe Bank’s Ultimate Money Market APY currently ranks first, regardless of minimum or maximum deposit. All America Bank’s Mega Money Market and Redneck Bank’s Mega Money Market Account share the 1.50% APY, but are capped at $35k.

The above rates are accurate as of 10/31/2017.

To look for the best Money Market Account rates, both nationwide and state specific, please refer to our Money Market Account rates table or our Rates Map page.

Related Pages: Grand Rapids money market accounts, money market accounts, nationwide deals

DCGuy   |     |   Comment #1
Another 1.5% rate offering. 3rd one this week.
Rickny   |     |   Comment #2
Dollar Savings went to 1.50% today. No minimum
BeenBurned   |     |   Comment #3
Yes! Probably cheaper to bump up 10 basis points than pay someone to redesign website and come up with a different slogan from "America's Highest Rate", LOL
deplorable 1
deplorable 1   |     |   Comment #4
"Balances between $2,500 and $24,999.99 earn 0.25% APY"...................So basically you are not really getting 1.5% without accepting .25% on the first $25,000. That's a deal breaker as even with a larger balance you still would not be averaging 1.5%.
Jake   |     |   Comment #5
I don't read it that way. If you have a $25k balance you earn 1.5%. So that would seem to mean 1.5% on the entire $25k. Somebody correct me if I'm wrong.
deplorable 1
deplorable 1   |     |   Comment #7
Let me rephrase myself. If you get the 1.5% on the entire balance over $25,000 than this account looks pretty good. Still has a $3 ACH out fee but I'm sure that could be fixed by using another bank.
NorthpointeBank   |     |   Comment #9
Hello deplorable1,

Jake is correct - once the balance is over $25k, the 1.50% APY applies to the entire balance (up to $1,000,000).

Also - our external ACH fee of $3.00 per transaction was eliminated in mid-October. This can be confirmed by viewing our fee schedule here:

For more details please visit us at:


Bill C, Northpointe Bank
deplorable 1
deplorable 1   |     |   Comment #11
Thank you for that information Bill! Very timely. I didn't know the banks were watching these boards.
GGG   |     |   Comment #6
Hard or soft credit pull?
NorthpointeBank   |     |   Comment #10
GGG- It's a soft pull. :)


Bill C, Northpointe Bank
enelrad1123   |     |   Comment #8
State Bank of Texas has been at the top of the list for some time with their 1.55% Money Market. I was wondering why you no longer mention SBT. Perhaps they are not offering this any longer to new customers, but I have an account with them and it is still paying 1.55%.
Rickny   |     |   Comment #12
They are longer accepting new accounts according to Ken
slovokia   |     |   Comment #13
Northpointe has a very rudimentary web site. I see no provision for adding and managing externally linked accounts for ACH at all. After you sign up for your Ultimate money market account you will need to specify checking for the type of account when you initially register for online access. It looks like this bank can only be managed through externally initiated ACH transactions. It's probably best to use something like a Purepoint or an Ally account for that purpose.
slovokia   |     |   Comment #14
Another issue to be aware of: the Ultimate money market account is treated as a checking account for ACH purposes by Northpointe bank. If you attempt to link to your Ultimate MM account from other institutions via ACH test deposits and classify the account as type savings for ACH purposes, Northpointe will reject the incoming ACH transactions as being of the wrong type. Many other banks will be tolerant of ACH type mismatches as long as the routing number and account number are accurate. Northpointe is not. Unfortunately these details are not publicized in any of their account documentation.
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