UMB Has Money Market Account Special


UPDATE: This offer will expire at the end of business, September 13, 2018.

Deal Summary: Money Market Account Special, 2.32% APY, $10k minimum opening deposit, new money, rate guaranteed for one year following account opening.

Availability: Market area includes Arizona, Colorado, Illinois, Kansas, Missouri, Nebraska, Oklahoma, and Texas. In-branch only.

Now through September 22, 2018, UMB (formally known as UMB Bank, National Association) is offering a Money Market Account Special (MMAS), earning 2.32% APY. The APY will be in effect for 12 months following account opening. The MMAS requires a $10k minimum opening deposit of new money, defined simply as “funds not currently on deposit at UMB.”

The promotion page for the MMAS includes some information concerning minimum deposit levels that is unclear.

The minimum deposit amount required to establish this Special Offer UMB Daily Investment Money Market account is One Thousand Dollars ($1,000.00) in new money (funds not currently on deposit at UMB).

The minimum balance amount required to obtain the 2.32% Annual Percentage Yield (APY) is Ten Thousand Dollars ($10,000.00) in new money (funds not currently on deposit at UMB).

CSR and two supervisors agreed that the above statements are poorly worded and do not accurately describe the opening deposit requirements. Here’s the bottom line:

  • The minimum deposit to open AND qualify for the 2.32% APY is $10k of new money.
  • An MMAS can be opened with a minimum $1k of new money, but will only earn 0.10% APY.
  • The opening deposit determines what the APY will be for the entire first year: you can’t work your way up to the 2.32% through a series of deposits. In other words, while a deposit of $9k yesterday and $1k today may equal $10k tomorrow, the $10k will only earn 0.10% APY.

If the balance should fall below $10k, the APY will change to 0.10% and remain at that rate no matter how much additional money is deposited. Should the balance fall below $1k, there is a $10 monthly service fee. There is also a $3 monthly inactive fee for accounts that have “absolutely no activity for at least 12 months.”

The MMAS has limited check writing, but no ATM or debit card is available. Beneficiaries may be added, but Social Security numbers must be provided.

FYI - I last wrote about UMB in 2007 and 2008 when similar MMA/savings promotions were being offered. In 2007, the MMA promotion offered a 5.50% APY that was guaranteed six months, but it also required a direct deposit into the MMA and adding another UMB product, such as a credit card, HELOC, or brokerage account.

Thanks to the DA reader who let me know about this offering.


Headquartered in Kansas City, Missouri, UMB’s market area includes Arizona, Colorado, Illinois, Kansas, Missouri, Nebraska, Oklahoma, and Texas.

Opening a Money Market Account Special can be done at any of the 98 full-service branches located in Arizona (7), Colorado (11), Illinois (2), Kansas (20), Missouri (50), Nebraska (1), Oklahoma (3), and Texas (4). The vast majority of the branches are located in or near major metropolitan areas.

The promotion page provides a link to the Bank's branch directory, so

If you are crunched for time, you can also setup an appointment at your local UMB branch.

Bank Overview

UMB has an overall health rating of "A" at, with a Texas Ratio of 3.25% (excellent), based on June 30, 2018 data. In the past year, the Bank has increased its total non-brokered deposits by $368.43 million, an above average annual growth rate of 2.35%. Please refer to our financial overview of UMB (FDIC Certificate # 8273) for more details.

UMB was established in 1902 as The Cass County Bank, based in Peculiar, Missouri. The Kemper family was a driving force behind the early expansion of the Bank, with multiple generations serving in key management positions.

R. Crosby Kemper Sr. became president in 1919, and during this year, the bank began its steady pattern of growth under the leadership and direction of this new president. He was aggressive in developing contacts for the bank. He would go into the community to solicit business at the close of regular business hours each day. This was an unheard-of practice prior to that time, as many banks simply opened their doors, sat back and waited for the customers to come to them.

There were two name changes (United Missouri Bank of Cass County, 1978, and UMB Bank, Cass County, 1994) before the final re-brand in 1999. Between 1999 and 2015, UMB began “to grow in all directions,” acquiring 19 banks in Arizona, Colorado, Illinois, Missouri, Nebraska, Oklahoma, and Texas. UMB is currently the second largest bank headquartered in Missouri, with deposits in excess of $16.6 billion and more than 1,540,000 customer accounts.

How the Money Market Account Special Compares

Since UMB’s market area includes eight states, I’ve chosen to compare its MMA Special to nationally available money markets. When compared to the Money Market accounts tracked by that are available nationwide, UMB’s Money Market Account Special APY currently ranks first, regardless of minimum balance requirement.

The above rates are accurate as of 9/8/2018.

To look for the best Money Market account rates, either nationwide or state specific, please refer to DA’s Money Market Account Rates Table page.

Related Pages: money market accounts

  |     |   Comment #1
Living in one of the qualifying states I'm grateful for notice of this. (For me) Northern has now been superseded, - assuming UMB stipulates no max deposit, which the write-up makes no mention of.
  |     |   Comment #3
If you are in the area and are close to a branch (in branch only) you can make .08 more than Northern which was nationally available. I also don't like this requirement "If the balance should fall below $10k, the APY will change to 0.10% and remain at that rate no matter how much additional money is deposited.".
  |     |   Comment #6
You'd open a new account over .0006% ?

Nothern 2.26%
UMB 2.32%

On a $10k balance, You are talking 50 cents a month difference.

I'm all for sending money to the highest rate but Id need a larger incentive for my trouble.

And, I don't have $10k liquid right now anyway.
mandy rentwood
  |     |   Comment #7
if we as a group do not reward the rate leaders, we, as a group, fail.

together we stand, divided we fall!!!!
  |     |   Comment #8
Really annoying they changed the end date of this offer from September 22nd to the 13rth. I was all set to visit my local branch tomorrow (the 22rst) and open an account when I realized they'd pulled the rug out. FI's should never state a definite end date for something and then abbreviate it. Just don't say anything, or indicate rates can change at any time. Bad marks for UMB.
  |     |   Comment #9
Call & tell them and see if they accommodate you.

I bought something online a few months back and it did not ship in a month. And it turns out they did not ship for a lot of people as they complained on the deal site.

I called and asked if they could substitute anything similar and she found something just like I wanted for pennies more and it was in stock ready to ship that day. I posted it but a half dozen others complained rather than calling and asking for a similar deal.

Be creative. If the rep says no, ask for a supervisor.

I go to this gym near me that has crazy hours for various activities. But 90% of the time the gym sits empty. The receptionist said only 3 days a week for 2-3 hours. I called the manger and she said, whenever you need a ball as for me or my assistant and we will get you a ball.

And at my age, shooting around by myself is a pretty good workout. I follow it up with some weight machines.

But, if If I don't ask for a supervisor, I can only shoot 3 days a week during certain hours.
4.00% Savings Account Until 1/1/2009 at an Oklahoma Bank (UMB)
UMB Bank is advertising a 4.00% APY on its Premium Savings Account for balances over $10,000. The yield is guaranteed until 1/1/2009. The maximum deposit limit is $500,000. The yield for balances under $10,000 is 0.25%. This special doesn't seem to be listed at the bank's website. It was advertised in the 7/30/08 issue of The Oklahoman newspaper. The ad is available online here.

Branches are located throughout Oklahoma City. There are also branches in Colorado, Kansas, Missouri, Arizona, Illinois and Nebraska. However, this special may only be available in Oklahoma.


Continue Reading
5.50% Money Market Account Promotion at UMB Bank
UMB Bank has a money market account promotion with a rate of up to 5.50% APY with balances over $10K. The rate is guaranteed until July 1, 2007. It must be opened by February 24th or by March 1st if you print out their rain check and bring it with you.

UMB doesn't do a good job at disclosing an important issue. The rate is only 5.25% APY for balances over $10K if certain conditions are not met. There's no mention of these conditions in the promotional webpage. So I called...

Continue Reading

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.