Smart Money Market Account

Grow your savings faster with an amazing rate from Bankwell Direct. 

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Smart Money Market

3.50% APY*

  • $100 minimum opening deposit
  • No monthly service fees
  • Interest compounded daily
  • Fast and secure online application
  • FDIC insured up to $100 million
Apply now

The Bankwell Direct Advantage

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Stay Safe With FDIC Insurance

Up to $100 million FDIC insurance through the IntraFi network of banks.

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Open Your Account in Minutes

No need to talk to a person; create your account 100% online.

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$100 Minimum Opening Deposit

Start with only $100 to open and earn interest. Add more when you're ready.

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Rates 5x** More Than National Average

We have set the bar high so you can save more.

FAQs

Bankwell Direct is part of Bankwell Financial Group, a publicly-traded commercial bank with more than $3.5 billion in assets with nine branch locations throughout southern Connecticut. When you open an account with Bankwell Direct, you are a Bankwell customer. We bring high tech, high touch and high quality banking with the expertise of our experienced team of professionals.

Opening an account is easy and takes only a few minutes. After you select the account you want to open, just enter your information, and follow simple steps to complete the account set up.

Yes, you can open joint accounts to share ownership of the account.

No checks are issued with this account.

Interest rates are updated periodically based on many factors, including market conditions.

Yes, deposits are FDIC insured up to the maximum of $250,000. For coverage up to $100 million, our Client Support Center is available to help with other solutions.

Yes, our Client Support Center is there to assist you, M-F, from 8am – 6pm EST and is available through phone and chat. You can reach them through our website, mobile app or by calling 877-715-326. We are there to answer your standard questions and address more complex transactions, account-related inquiries, or technical issues that may arise.

Yes, we have advanced security measures such as encryption, multi factor authentication and fraud detection systems to ensure the safety of your financial information.

Bankwell Direct is part of Bankwell’s online banking platform.  Visit Online Enrollment to enroll in online banking.  For access on the go, download the Bankwell app for your device.  

Ready to start earning more? Open your high-yield savings account today.

 

 

 

*Annual Percentage Yield (APY) is subject to certain terms and conditions. Smart Money Market APY is 3.50% and the Annual Interest Rate is 3.44%.  The rate is variable rate and has a $100 minimum to open and earn interest. Fees may reduce earnings. Excessive transfers or withdrawals may result in fees.

**5x based on FDIC monthly interest savings rate as of September 18, 2023.