Northpointe Bank Offers Promotional Rate On Its Ultimate Money Market - Expired


Update 4/26/2022: The 0.90% APY Ultimate Money Market promotion has expired. The top rate is now 0.65%. According to Northpointe Bank:

For anyone that applied by 11:59pm ET on 04/25/22 and opens their account no later than 05/31/22, the terms of our 0.90% APY Ultimate Money Market promotion apply. For applications submitted on or after Tuesday, April 26, the top rate of 0.65% APY applies.

This post was originally published on 3/25/2022.

Deal Summary: Ultimate Money Market, 0.90% APY on balances between $25k - $3m, rate guaranteed for six months from account opening, new and existing accounts.

Availability: Nationwide

In the fall of 2017, Michigan-based Northpointe Bank introduced its third “Ultimate” account – the Ultimate Money Market. (While the Ultimate Savings is still offered, the Ultimate Checking account met its demise in 2018.) All the Ultimate accounts shared a common feature: a promotional period with a limited-time rate guarantee.

The latest promo for the Ultimate Money Market is a 0.90% APY (on balances of $25k-$3m) that is guaranteed for six months from account opening. Both new and existing Ultimate Money Market customers are eligible for the 0.90% APY, but existing customers need to contact Northpointe Bank to request the promotional rate and the six-month rate guarantee be applied to their existing accounts.

It wasn't clear from the Northpointe website if existing customers needed to call to receive the promotional rate, but according to a CSR, existing customers definitely have to ask that the promotional rate be applied to their Ultimate Money Market. Existing customers don't have to do anything like deposit additional funds to get the 0.90% APY; they just have to ask. Unfortunately, customers who aren't attentive may miss out on the higher rate. Before this promotion, the Ultimate Money Market was listed with a 0.65% APY on balances of $25k-$3m.

3.25*%$25k$3mNorthpointe BankUltimate Money Market
OTHER TIERS: 0.25% $2.5k - $5k | 0.35% $5k+
Rates as of February 4, 2023.

The other rate tiers for the Ultimate Money Market are,

  • 0.25% – balances of $2,500-$4,999.99
  • 0.35% – balances of $5,000-$24,999.99
  • 0.35% – balances of $3,000,000.01+

Note: as stated on page 29 of the Terms and Conditions disclosure,

If the balance in the account exceeds $3,000,000, the full balance earns interest at a rate of 0.34% (0.35% APY).

According to the Terms and Conditions disclosure (page 28),

The interest rate is guaranteed for at least six months from the date of account opening (or conversion for existing accounts). After that period, the interest rate and annual percentage yield may change at any time and without prior notification.

If the balance in the account exceeds $3,000,000, the full balance earns interest at a rate of 0.35%.

A deposit of at least $100 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.

Each transaction in excess of six per month may not be paid.

ACH Transfer Service

The following is from the October 2017 blog post, but CSR confirmed the information is current.

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 within Online Banking under the “Transfers > External Transfers” menu options.

Is it free to initiate ACH transfers?

    There is no charge to send or received money into Northpointe Bank via standard ACH transfers (2-3 business days). Expedited transfers are available on eligible accounts for $4.95 per transfer (1 business day).

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

    ACH Transfers are allowed up to $25k per day per account, with a $250k monthly maximum per account.

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

    Account holders can link up to five (5) external accounts to a single Northpointe Bank account.

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.


The FAQs listed at the bottom of the Earn More page include answers to a couple of important issues.

3. How can I move money in and out of the account?

There are several options for moving funds in and out of the account:

Deposits In

    1. Mobile Check Deposit via our Mobile Banking App – transaction limits vary by account

    2. ACH in initiated via our External Transfer service within Online Banking – up to $25k per day & $250k per month.

    3. ACH in initiated from your bank, credit union or PayPal/Venmo type service – no transaction limits

    4. Wire transfer in – no transaction limits

    5. Mail us a personal check, cashier’s check, or bill pay check – no transaction limits

Withdrawals Out

    1. ACH out initiated via our External Transfer service within Online Banking – up to $25k per day & $250k per month

    2. ACH out initiated from your bank, credit union or PayPal/Venmo type service – no transaction limits

    3. Wire transfer out (fee applies) – no transaction limits

    4. We can mail you cashier’s check via USPS delivery (fee applies) – no transaction limits

5. Do you offer checks, debit card, or bill pay on this account?

    Yes, our money market account allows for checks, debit cards and bill pay. Checks and debit cards are not automatically ordered with money market accounts. Contact the personal banker coordinating your new account opening to request these services. A fee for check orders may apply.


Headquartered in Grand Rapids, Michigan, Northpointe Bank offers its services and product line in all 50 states to U.S. residents who have a valid Social Security number or TIN (Taxpayer Identification Number).

Opening an Ultimate Money Market, as well as any other Northpoint Bank account, can be done online, or at the sole Michigan brick-and-mortar branch located on Deposit Drive NE in Grand Rapids.

Bank Overview

Northpointe Bank has an overall health rating of “B" at, with a Texas Ratio of 2.56% (excellent), based on December 31, 2021 data. Northpointe Bank has an average capitalization level (9.48%), the result of holding $4.73 billion in assets with $448.46 million in equity. Please refer to our financial overview of Northpointe Bank (FDIC Certificate # 34953) for more details.

Northpointe Bank is currently the third largest bank headquartered in Michigan, with assets in excess of $4.7 billion and more than 101,000 customer accounts. A relatively young institution, the Bank was founded in 1999 by Charles Williams, the current President and CEO. Northpointe Bank has been honored several times by the Independent Community Bankers of America with a variety of accolades including,

  • 2017 – Ranked as the ninth best performing financial institution in the country, according to return-on-equity during 2016 for banks with assets between $300 and $1 billion.
  • 2021 – Ranked as the fifth best performing financial institution in the country, according to return-on-equity during 2020 for banks with assets of more than $1 billion.
  • 2021 – Ranked as the second best performing commercial and mortgage lending institution in the country, based on lending concentration and loan growth in 2020 for banks with assets of more than $1 billion.

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.

The above rates are accurate as of 3/25/2022.

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

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

  |     |   Comment #1
wow complete FAQ, that everyone wants to know.
  |     |   Comment #3
Just 1 additional note to keep in mind - They have a Dormant fee of $5/month if inactive for 24 months. This might be relevant at a later time when their interest rate drops and is not competitive. See
  |     |   Comment #4
I'll second the kudos for the custom FAQs Ken.

However, the first question I always want answered when opening a deposit account is whether or not there is a hard credit check. Wish every write up included that info. It would also help shame those FIs that do hard pulls and maybe influence them to cut out this unethical practice that reflects badly on the entire industry.

As I recall from the time I had a Northpointe account there was no hard pull so that is probably the answer. Although you should always check since things can change.
  |     |   Comment #5
Hi P-D, Happy to confirm no credit check/hard pull. We use ChexSystems for deposit account opening and are not especially adverse to numerous inquiries (all other things being equal). Best, Bill C @ Northpointe Bank
  |     |   Comment #6
And kudos to you and Northpointe for that response Bill. My experience with Northpointe was always good.
  |     |   Comment #7
Supplementing the PD post…What’s most refreshing is a (purported) rep from the FI took the initiative to monitor postings AND, importantly, providing quality info. Ken, when you contact a FI do you offer them an opportunity to join the forum? And, of course, appropriate disclosures may need to be….
  |     |   Comment #8
Choice - while that's an exemplary suggestion, my gut tells me it might be difficult to enforce or verify long-term. For example, how would a user, or even a employee, verify (and continue to verify as the thread progressed) that a particular poster was a valid employee of "Financial Institution X"? (Famously, there's this -,_nobody_knows_you're_a_dog )

Such a verification enhancement might not economically "scale" for (in the sense that, for example, Google uses that phrase for their operations or products), because it would require either additional personnel or additional time from existing personnel. Either might perhaps be a decidedly uneconomic proposition for
  |     |   Comment #9
Oh, I think DA can can extend the opportunity…like any offer, the offeree has the action
Northpointe Bank Ups Ultimate Savings To 2.55% APY - Expired
UPDATE: 8/1/2019: The Ultimate Savings with a 2.55% APY is no longer available to new customers.

Deal Summary: Ultimate Savings - 2.55% APY on balances between $25k and $1m, three month rate guarantee.

Availability: Nationwide through online application.

I last wrote about Michigan-based Northpointe Bank’s Ultimate Savings about a year ago, when its rate was increased from 1.12% APY ($10k+ guaranteed for 12 months) to 2.05% APY ($25k+ with no rate guarantee). The 2.05% APY lasted about two months before dropping to 1.95% APY in July 2018, where it...

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Northpointe Bank Boosts Ultimate Money Market Rate
UPDATE 6/29/2019: Northpointe Bank has reduced its rate guarantee from 24 months to "at least 3 months from date of opening new account." This applies to the 2.30% APY for balances between $25k and $1 million. This post has been updated with this new information.

UPDATE 11/1/2018: A Northpointe Bank official has informed DA about new enchancements made to the ACH Transfer Service. I've updated the ACH Transfer Service section below.

Deal Summary: Ultimate Money Market, 2.30% APY on balances between $25k - $1m,...
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Northpointe Bank Boosts Ultimate Savings Rate

UPDATE 5/16/18: Existing Ultimate Savings account may qualify for new rate. See below for more details.

Deal Summary: Ultimate Savings - 2.05% APY on balances between $25k and $999,999.99 and 1.12% APY on balances below $2k.

Availability: Nationwide

In September 2016, Michigan-based Northpointe Bank introduced its Ultimate Savings, which at the time earned 1.12% APY on balances of $10k+, with a rate guarantee for “at least 12 months.” Since being added to the product line, the Ultimate Savings has had no rate changes, until now.

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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.”

Balances between $2,500 and $24,999.99 earn...

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Northpointe Bank Offers Nationally Available 17-Month CD Special
Deal Summary: 17-month CD Special, 1.75% APY, $1k minimum.

Availability: Nationwide

Michigan-based Northpointe Bank has added a 17-month CD Special that earns 1.75% APY. The minimum deposit is $1k, with no stated balance cap.

The CD Special is also offered as an IRA, earning the same APY with the same funding requirements.

As stated in the Truth in Savings disclosure, the Early Withdrawal Penalty reads as follows:

For CD Terms of 1 year but less than 3 years the
penalty is 90 days interest on principal amount withdrawn.


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More Past Offers

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