Dedicated to Deposits: Deals, Data, and Discussion

4.00% Reward Checking Account at Bank of the Wichitas (Redneck Bank)


Bank of the Wichitas
Update 4/22/09: The top rate is scheduled to fall to 4.00% APY starting 5/5/09.

Update 4/08/09: The bank has temporarily stopped accepting new applications.

Bank of the Wichitas has a reward checking account that pays 4.00% APY on balances up to $10,000 (1.00% for above) and refunds ATM fees worldwide if the following monthly requirements are met:
  • 10 VISA CheckCard purchases
  • receive statements electronically
If these are not met, the rate falls to 0.25%. There are no minimum balance requirements and no monthly service charges.

The bank has a brave marketing strategy by offering this online reward checking account at the Redneck Bank. I'm sure this will attract attention, but I'm not sure how many people will be comfortable with opening an online account at the Redneck Bank.

In addition to this redneck rewards checking, they're also offering the mega money market account that currently pays 3.10% APY and the you're approved checking that's intended for people with bad credit. Details of these accounts are described in the Deposit Account Agreement (pdf). Update 4/22/09: Starting 5/05/09, the mega money market rate is scheduled to drop to 2.00% APY for up to $35K, 1.00% for above.

The online application for these accounts uses the Cashedge service. The application allows for electronic funding which is typical for Cashedge, and it's available to people in any state. Once the account is opened, bank-to-bank ACH transfers are limited to $1,500 a day (per FAQ). The best way to get larger amounts into and out of this account will probably be to use another online bank to push and pull funds.

Redneck Bank is the Internet Banking Division of Bank of the Wichitas which is based in Oklahoma. Bank of the Wichitas has been FDIC insured since 1934 (FDIC Certificate # 4198).

The bank has some good financial ratings for soundness: 3.5 stars (good) at BauerFinancial and 4 stars (sound) at Both ratings are based on 9/30/08 data.

Thanks to the reader who emailed me news of this bank.

Other Reward Checking Accounts

Update 1/05/09: If you don't want to bank at Redneck Bank, you have two alternatives. Evantage Bank (see post) and AmericaNet Bank (see post) have the same accounts, the same rates and the same online banking features. All three banks are owned by the same family.

To find reward checking accounts in other areas of the nation or to learn more about these accounts, please refer to my High Yield Checking website.

Rate History:
05/05/09: 4.00% APY up to $10K; 1.00% APY over $10K / MMA 2.00% APY up to $35K; 1.00% over
04/08/09: Bank has temporarily stopped accepting new applications
03/12/09: 5.25% APY up to $10K; 2.25% APY over $10K; 0.25% base rate / MMA 3.10% APY up to $35K; 1.65% over
01/04/09: 5.25% APY up to $25K; 2.25% APY over $25K; 0.25% base rate / MMA 3.10% APY

Edit 4/04/09: Updated ACH limits.

  Tags: checking account, Bank of the Wichitas, Oklahoma, reward checking account

Related Posts

Comment #1 by Anonymous posted on
Great find!

I submitted it to to share with others, hopefully will get you some additional visitors too.


Comment #2 by cjdtech (anonymous) posted on
What's next? Hillbilly Bank? Bank of Deliverance?

Comment #3 by Anonymous posted on
Hey, atleast when a redneck asks for a bail out he is talking about getting the water out of his bass boat. ;o)

Comment #4 by Anonymous posted on
Hard pull?

Comment #5 by Anonymous posted on
Looks like they have bank to bank tranfer capabilities, but you must deposit atleast $400 a month to qualify.

Any idea about the soundness of this bank?

Comment #6 by Anonymous posted on
What is the routing number?

It sounds like both "debit" (pin-based) and "signature-based" transactions are counted. Can anyone verify?

Comment #7 by scott (anonymous) posted on
No hard pull. I opened with all three of my reports frozen. They just use for soft ID verification so they had me fax over a copy of utility bill. Very quick with account opened minutes after I did that.

Comment #8 by Anonymous posted on
Apparently, Americanet Bank, Evantage Bank, and Redneck Bank, are all the same bank with the same terms.

Comment #9 by Anonymous posted on
Actually Redneck, AmericaNet and Evantage Bank are all internet divisions of three separate banks which are all owned by the same family.

Comment #10 by Anonymous posted on
Yes, you can go to and review the checking accounts
and saving accounts that they have available to offer. Redneck Bank is
our online bank and if you go to the website, you will be able to sign
up for the account and start banking. Also, ACH funding is available at
Redneck Bank. If you have any more questions, please feel free to e-mail
me back. Have a nice day!

Brandon Adler
IT/Security Officer
Bank of the Wichitas
Phone: 580-569-2313
Fax: 580-569-4557

Comment #11 by koz22 (anonymous) posted on
Coulee Bank offers 5.01% APY on their Rewards Checking account. It is FREE and available nationwide at

Comment #12 by Anonymous posted on
I recently went to the website to check out this Bank further.

They have several very nice flash based depictions of operating the accounts (sign-on, p/w, etc.), using bill-pay with many options illustrated, and identity theft education. This Bank gets my ***** for using great technology and for using customer centered help functions. Only wish other banks (like Bank of Internet) were as good offering helpful customer guides.

The only down side looks to be monthly requirement of $400 deposits monthly to get bank-to-bank transfer function active (and account over 30 days old). Also the transfer function seems to be limited (standard policy) to $1,500 per transfer, unless you can get permission for a higher transfer amount.

But other than these above limitations, looks like a really great bank, despite the bank name.

I might actually open a couple of accounts here, if they allow family trust vesting.


Comment #13 by Michael (anonymous) posted on
Stay away from this joke. I just tried to apply, got declined after answering credit check questions. I have 700 credit score, how can I possibly not get approved for a checking account? Maybe they realize I'm not a redneck.

Comment #14 by Anonymous posted on
Everything can be done via mail and ACH which makes this bank attractive for those of you that don’t live anywhere near Redneck Bank.

Since my reward checking account dropped from 5% to 4% last month, I am going to give these guys a try. I just completed the sign up process this morning and am waiting for my trial deposits to be deposited into my current bank account so that I can fund it. So far so good. They have a bank transfer feature where you can transfer money in and out of banks from this account.

Comment #15 by Anonymous posted on
One thing to note is that their terms state that each person can have up to 2 reward checking accounts through them. So if you can do 20 atm transactions per month (10 for each account), you could get 5.25% on up to $50,000. So that is an option for those of you that want a higher rate on more thank $25,000.

Comment #16 by Anonymous posted on
As of May 20th, the rate will be 5.25% only up to 10KK, then 2.25% over 35K.

Comment #17 by altairn5 (anonymous) posted on
how long was for those who own account with this bank, to get online access and have the account up and running. >??? it is taking forever!!!almost 2 weeks in the proccess

Comment #18 by Anonymous posted on
According to the website, the Rewards Checking is "sold out" - no longer offered to new customers.

Comment #19 by Anonymous posted on
Takes forever to open an account and once you do, you have difficulty accessing your money.

No customer service whatsoever. The rates aren't worth the aggravation. Avoid this bank!