Western State Bank High Yield Money Market Earns 2.50% APY


Deal Summary: High Yield Money Market, 2.50% APY on all balances up to $3 million.

Availability: Nationwide.

Western State Bank (Western) is now offering its High Yield Money Market (2.50% APY) on a nationwide basis. (Note: I included a link to the High Yield Money Market because it has its own URL, which is not listed on Western’s main website.) The stated APY applies to all balances up to $3 million, with no minimum balance requirement.

1.85*%--Western State BankHigh Yield Money Market
Rates as of January 24, 2020.

Western has an excellent FAQs page, providing answers to the most common questions including,

  • There are no monthly maintenance fees applied to the account.
  • Debit cards and checks will not be issued on this account.
  • There is no access to the account through an ATM withdrawal.
  • A $5.00 fee is imposed for each additional withdrawal or debit over six per month.
  • If your balance plus accrued and credit interest exceeds $3,000,000.00, a representative from Western State Bank will contact you to reduce the balance in the account.

Funding and Accessing

The FAQs page also details the three ways to fund the High Yield Money Market:

  • ACH Funding will be allowed up to $25,000 per transfer. A maximum of six ACH originations for a total of $100,000 per month is allowed.
  • Send a domestic wire transfer from another bank. Incoming wire fees are waived. Wires over $25,000 are allowed.
  • Send a check by U.S. mail from a U.S. financial institution.

There are also three ways to access your money:

  • Request Western State Bank to send a wire transfer to another bank. Contact the Wire Department at 701-499-6376 or [email protected] One outgoing wire fee per month per account is waived. The wire is only available to be sent to the external account in which the initial deposit was made from. Wire cut off time is 4 pm CT.
  • ACH transactions will be allowed up to $25,000. A maximum of six outgoing ACH transactions of $25,000 each for a total of $100,000 per month is allowed.
  • Contact Customer Care at 877-846-9345 and a cashier’s check can be mailed to you.


You can add as many beneficiaries as you like, but according to CSR, the Bank prefers an even number of beneficiaries. Social Security numbers are not required when naming a beneficiary.

Thanks DA reader, CTM, for the Forum post about the High Yield Money Market.


Headquartered in Devils Lake, North Dakota, Western State Bank currently offers its High Yield Money Market and two CDs on a nationwide basis.

Opening a High Yield Money Market account can be done online, or at any of six North Dakota branches located in Devils Lake, Fargo, Granville, Towner, Upham, and West Fargo. Following the 2013 acquisition of Central Arizona Bank, the Bank gained five Arizona branches, which are located in Casa Grande, Chandler, Scottsdale, Sun City, and Sun City West.

Bank Overview

Western State Bank has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 7.59% (excellent) based on September 30, 2018 data. The Bank has an excellent capitalization level (12.59%), the result of holding $1.05 billion in assets with $131.99 million in equity. Please refer to our financial overview of Western State Bank (FDIC Certificate # 39123) for more details.

In 1966, the Bank of Webster (established in 1902) was purchased by a group of investors, who were looking to found a new bank. Two years later, the corporate name and headquarters were changed, and the Western State Bank of Devils Lake, North Dakota, opened its doors for business. Currently North Dakota’s ninth largest bank, Western State Bank has assets in excess of $1 billion and more than 24,000 customer accounts.

How the High Yield Money Market Compares

When compared to the Money Market accounts tracked by DepositAccounts.com that are available nationwide without a small balance cap, Western State Bank’s High Yield Money Market APY currently ranks first, regardless of minimum balance requirements.

The above rates are accurate as of 2/20/2019.

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

Related Pages: Minot money market accounts, Fargo money market accounts, Phoenix money market accounts, money market accounts, nationwide deals

QED   |     |   Comment #1
This appears to be a competitive account. But absent a rate lock of some sort I'm not in. If Ken did mention a rate lock, I missed it.  And I'm not thinking a year.  But six months would be a good thing, and would make the application process worthwhile and justifiable, even if the bank wanted to impose a cap for that guarantee.
RichReg   |     |   Comment #3
No debit card and no checks (just in case...you never know)
doesn't sound 'competitive' enough to me.
The United and Northern Bank Direct MM deal is/was better.
midas89   |     |   Comment #4
It says: "ACH Funding will be allowed up to $25,000 per transfer. A maximum of six ACH originations for a total of $100,000 per month is allowed." (I wonder why they'd limit ACH funding to just $25,000 per transaction, and just $100,000 per month? Why wouldn't they want to make it easy for people to at least deposit the FDIC solo-account $250,000 amount? Plus, couldn't people just push in more than the $25K/$100K maximums from their external account?)
Verlikk   |     |   Comment #5
A lot of banks have lower limits, apparently has something to do with liability, probably unnecessary but they don't mind since it only inconveniences the customer
AnnO   |     |   Comment #6
I think most banks figure if you've got that much money to be moving around, you'll just do a wire transfer. They are nice enough to waive fees on their end for that option, at least.
Bill   |     |   Comment #7
Do you know if Western State Bank does a soft or hard credit pull when applying for the account?
8832   |     |   Comment #8
This offer is still active but not shown on Kens Money Market bank list.
$100 Checking Account Bonus at Western State Bank in AZ and ND

I came across Western State Bank yesterday when I learned it’s taking over a bank that failed on Tuesday. I noticed the bank is listing a bonus of up to $100 for its checking account on its front page. The details are listed in its Benny! page. Here’s what is required to receive the full $100 (as of 5/16/2013):

  • $25 Sign up for Direct Deposit
  • $25 Pay five bills with Bill Pay
  • $25 Make 10 Cash and Check Card Transactions
  • $25 Open a Treasury Market Account

The offer is valid on new personal checking...

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