Money Market Rates

There are several ways to deposit money into your Money Market Savings account:

• Electronic Transfer

  Transfers can be made from internal accounts or external accounts. You may make an electronic transfer only after you have registered an external account with GMAC Bank. To complete an electronic transfer, simply login with the ID and password that you have created. Our Customer Care Department (1-866-246-2265) can also process electronic transfers. You'll need to provide your bank's routing number and your account number from where you will be transferring funds. Once your account is verified, your funds will be transferred immediately, They will be available upon GMAC Bank's receipt of the deposit. As an added feature, you can use this service for a one-time transfer or set it up for recurring payments at intervals of your choice.

• Wire Transfer

  To wire money to your account, provide the name of the institution from which the funds will transfer, along with the GMAC Bank routing number (031176136) and your GMAC Bank account number. Wired funds are available immediately.

• Send in your Deposit

  Fill out the deposit slip with the date and amount of your deposit. Then place the deposit slip and endorsed check in an envelope and mail to: GMAC Bank P.O. Box 13625, Philadelphia, PA 19101-3625. Please do not send cash.

You can withdraw funds from your Money Market Savings account via electronic funds transfer, telephone transfer, checks and ATM/point of sale transactions. However, federal regulations limit the number of withdrawals you may make.

The minimum required opening deposit is $50. To avoid monthly service fees, you must maintain an Average Daily Balance of $500 for the statement cycle.

View the Schedule of Fees and Service Charges by visiting the Products & Services/Fee Schedule section of our Web site.

Yes, deposits are FDIC insured for up to $100,000 per depositor.