Pacific National Bank Boosts Money Market Account APY


Deal Summary: Money Market Deposit Account, 1.90% APY, $5k minimum deposit, new money, $240k balance cap.

Availability: Nationwide

Pacific National Bank has raised the rate on its Money Market Deposit Account (MMDA) to 1.90% APY. The MMDA requires a minimum $5k opening deposit of new money and is capped at $240k.

2.20%$5k-Pacific National BankMMDA Special (New Money Only)
2.20%$5k-Pacific National BankMMDA Online Special (New Money Only)
Rates as of July 21, 2019.

A $5k daily balance is required to earn the stated APY and waive the $25 monthly maintenance fee. Online banking and eStatements are also required to avoid the $25 monthly fee. Any debit transactions in excess of six per monthly statement incur a $20 fee per transaction. Check writing is available and checks may be requested via online secure messaging. ATM/Debit cards are not available for MMDA accounts opened online. If the account is closed within six months of opening, there is a $25 early closure fee.

ACH Transfers

CSR stated that there are no charges for ACH transfers, unlike domestic wire transfers (incoming $10, outgoing $20). While there is a limit of $1 million for the initial funding ACH, after the MMDA is opened, there are no limits, either incoming or outgoing. According to CSR, there is no official hold time for an ACH transfer, other than the effective date listed on the ACH.

Up to six beneficiaries can be listed using the online application and Social Security numbers are not required. If you wish to add more beneficiaries, that can be done following account opening.


Headquartered in Miami, Pacific National Bank’s original market area, which was limited to South Florida, was expanded in June 2016 to include all U.S. residents who have a valid Social Security Number.

Opening a Money Market Deposit Account (or any other type of account) at PNB can be done online, or at either of the three Florida branches located in Coral Gables and Miami (2).

Note: According to the branch manager I spoke with, only a personal MMDA can be opened online; an MMDA trust must be opened in person.

Bank Overview

Pacific National Bank has an overall health grade of "B+" at, with a Texas Ratio of 2.59% (excellent) based on June 30, 2018 data. PNB has an capitalization level (14.93%), the result of holding $454.38 million in assets with $67.86 million in equity. Please refer to our financial overview of Pacific National Bank (FDIC Certificate # 26299) for more details.

In 1982, Banco Del Pacifico Ecuador (BPE) established Banco Del Pacifico Internacional as an Edge Act bank in Miami, Florida. (The 1919 Edge Act allowed national banks to participate in international banking through subsidiaries chartered by the Federal Reserve Bank.) Within three years, the Miami branch changed to a national bank charter issued and re-branded as Pacific National Bank. PNB operated as wholly owned subsidiary of BPE until 2012, and in late 2014, the Bank was sold to a group of U.S. private investors. PNB currently is Florida’s 43rd largest bank with assets in excess of $454 million.

How the Money Market Deposit Account Compares

When compared to the 181 Money Market Accounts tracked by that are not limited by small balance caps and are available nationwide, Pacific National Bank’s Money Market Deposit Account APY currently ranks fifth, regardless of minimum balance requirements.

The above rates are accurate as of 9/13/2018.

To search for Money Market rates, both nationwide and state specific, please refer to the Money Market Rates page.

Related Pages: Miami money market accounts, money market accounts, nationwide deals

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