iGObanking Money Market: 3.95% APY, But There's a $25,000 Catch

iGObanking, the online arm of Flushing Bank, is currently offering 3.95% APY on its Online Money Market account. That's a solid rate for a no-fee account, and it's available to anyone in the country. But before you get too excited, there's one detail that will make or break this deal for you: the $25,000 opening deposit. If you've got that kind of cash sitting around, this could be a great spot for it. If not, you'll want to look elsewhere. Let's break down how it works and whether it's worth your time.

The Rate Is Good, But It Just Dropped

Let's start with the headline number: 3.95% APY. That's not the highest rate you'll find on a savings account right now, but it's certainly respectable. The catch is that it was 4.00% until September 19, 2025, when it got trimmed. That's a reminder that these rates move with the Fed and can change at any time.

The good news is that once you meet the $25,000 minimum, you earn that 3.95% on your entire balance. There's no cap, so if you park $100,000 there, the whole amount earns the same rate. Interest compounds daily, which is a nice little bonus for letting your money sit.

The $25,000 Hurdle: Who This Account Is Really For

This is the part that matters most. You need $25,000 just to open the account, and you need to maintain that balance to keep earning the advertised APY. If your balance dips below that, you might not earn the same rate (or any rate at all, depending on the bank's terms).

So who is this for? Someone with a sizable emergency fund, a pile of cash from a home sale, or just a chunk of savings they want to keep liquid and safe. If you're working with less than $25,000, this account simply isn't accessible to you. There are plenty of other high-yield savings accounts with lower minimums, so don't feel like you're missing out.

What You Get Beyond the Rate

iGObanking is an online division of Flushing Bank, which means you get the convenience of online and mobile banking without a branch. The account comes with eStatements, text alerts, and a mobile app so you can manage everything from your phone. There's no monthly service fee, and no early termination fee is listed, so you're not locked in.

The account is FDIC insured up to $250,000, which is standard but always worth confirming. And when you apply, it's a soft credit pull, so your credit score won't take a hit.

ACH Limits and Transferring Money

One thing to keep in mind is the ACH transfer limits. According to the source, both push and pull transfers are capped at $15,000 per day and $50,000 per month. That's not terrible, but if you're planning to move a large sum in or out, you'll need to plan ahead.

Also, the source notes that ACH capabilities aren't fully confirmed, so it's worth testing with a small transfer first if you're planning to use this account as a hub for moving money around.

The Bottom Line: A Solid Option If You Have the Cash

If you've got $25,000 or more to park in a safe, liquid account, iGObanking's 3.95% APY is a competitive choice. No monthly fees, daily compounding, and FDIC insurance make it a low-risk place to stash cash. Just be aware that the rate can change, and it already ticked down once recently.

If you don't have that kind of balance, don't sweat it. There are plenty of other accounts with lower minimums that still offer strong rates. The key is to find one that fits your actual situation, not just the highest number on the page.

Bottom Line

• 3.95% APY on all balances once you meet the $25,000 minimum.
• No monthly fees and no early termination fee listed.
• FDIC insured up to $250,000; soft credit pull to apply.
• Rate dropped from 4.00% to 3.95% on 9/19/25, so it can change.
• ACH limits: $15,000 daily and $50,000 monthly for both push and pull.

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