HealthcareBank Money Market: A Solid 3.40% APY Plus a Chance at $1,500

If you're looking to park some cash and earn a decent return, there's a nationwide offer worth a closer look. HealthcareBank, through the Raisin platform, is offering a money market account with a competitive 3.40% annual percentage yield. But here's the kicker: for a limited time, you can also snag a cash bonus that scales up to a cool $1,500. It's a straightforward way to boost your savings rate, but as with any bonus offer, the devil is in the details. Let's break it down.

How the Bonus Actually Works (The Fine Print)

The headline-grabbing $1,500 bonus is real, but it's tied to a significant deposit. The bonus is tiered, so your reward depends on how much you're willing to move. Crucially, this isn't a direct offer from HealthcareBank itself; it's facilitated through Raisin, a savings marketplace. You'll need to be a new Raisin customer and use the specific promo code during sign-up.

Here's the step-by-step: First, sign up on the Raisin platform and select the HealthcareBank money market offer, making sure to enter the code 'HEADSTART'. Then, you have a tight 14-day window from opening the account to get your qualifying deposit in. That initial deposit amount locks in your bonus tier. Finally, you must leave that money untouched in the account for a full 90 days from that first deposit date. If you meet all the conditions, the bonus cash should land in your Raisin cash account within about a month.

• $10,000 to $24,499 deposit = $70 bonus
• $25,000 to $49,999 deposit = $175 bonus
• $50,000 to $99,999 deposit = $350 bonus
• $100,000 to $199,999 deposit = $750 bonus
• $200,000 or more deposit = $1,500 bonus

What You're Getting with the Account Itself

Beyond the bonus, you're opening a money market account that pays 3.40% APY on any balance. The $1 minimum to open is about as low as it gets, and there are no monthly maintenance fees to worry about. The account is FDIC-insured up to the standard limits through HealthcareBank, which is a division of the long-established Bell Bank.

HealthcareBank has a specific niche—they're actually known as a top custodian for Health Savings Accounts (HSAs). That background suggests a focus on savings products, which can be reassuring. Just remember, accessing this particular offer requires going through the Raisin platform interface.

Practical Advice and Points to Ponder

This is a strong offer for someone with a sizable chunk of cash sitting in a lower-yielding account. The combination of a good rate and a bonus can really amplify your earnings over that 90-day period. However, it demands careful planning.

My biggest piece of advice? Mark your calendar. The deadlines are strict: your first deposit must be started by February 28, 2026, and the promo code is non-negotiable. The 14-day funding clock starts ticking the moment you open the account, so have your funds ready to transfer. Also, be absolutely sure you won't need that money for at least 90 days. Pulling it out early will definitely forfeit the bonus.

• Double and triple-check that you enter 'HEADSTART' at sign-up. No code, no bonus.
• Initiate your transfer well before the Feb 28 deadline. Processing times can vary.
• Consider the 90-day lock-up period. Is this your emergency fund? If so, this might not be the right move.
• Compare the net gain. For a $50k deposit, a $350 bonus is like an extra 0.70% annualized on top of the 3.40% APY for that quarter—a great boost if it fits your cash flow.

Bottom Line

• A competitive 3.40% APY meets a substantial, tiered cash bonus for new Raisin customers.
• Perfect for those with a lump sum ($10k+) they can lock away for 90 days to maximize the reward.
• Success hinges on meticulous timing: use code HEADSTART, fund within 14 days, and don't touch the money for 90 days.

Common Questions