All America Bank is headquartered in Oklahoma City and is the 38th largest bank in the state of Oklahoma. It is also the 1,535th largest bank in the nation. It was established in 1969 and as of December of 2019, it had grown to 110 employees at 7 locations. All America Bank's money market rates are 3X the national average, and it has a B+ health rating.
Related Posts
6/11 - All America Bank Mega Money Market Rate Drop
6/11 - MMM Effective 6/22/2020 1.09% APY
5/21 - Rate Drop 1.6/1.35% 5/20/20
5/21 - MMM 1.35% Effective May 21, 2020
3/6 - All America Bank/Redneck Bank Mega Money Market - "Effective March 21, 2020 The Rate Is Changing, 1.50% APY*"
10/3 - Effective 10/22/19 The Money Market Yield Will Decline To 2.25%
1/23 - All America Bank/Redneck Bank Ups Mega Money Market to 2.50% APY
10/18 - All America Bank Pays 2.25% and 2.75% APY for MMA and Rewards Checking as of 10/22/18
6/22 - All America Bank Ups Mega Money Market Rate
2/22 - All America Bank/Redneck Bank's MMA Rate Jumps
6/21/17 - Mega MMA Rate Now 1.50% APY
10/7/15 - Money Market Rate Jump
2/24/14 - AmericaNet, Redneck and Evantage Banks Cutting Reward Checking Rates - Still Worthwhile?
8/18/13 - Mega Money Market Account Rate Drop
12/31/12 - Americanet's Dormant Account Fee
12/14/12 - AmericaNet, Redneck and Evantage Banks Reopen Their Reward Checking Accounts
11/2/12 - Mega Money Market Rate Increasing Later This Month
3/7/12 - Can't Log In To AmericaNet Bank Account
1/25/12 - Bank-To-Bank Transfer Service Discontinued
11/16/11 - "Gotchas" In The Americanet Bank Online Agreement And Disclosure
6/21/11 - Americanet, Evantage, Redneck Banks Cutting Rates By 0.25%
3/17/11 - Rate Cut At America Net Bank Mega Money Market Checking Account
2/23/11 - Americanet Bank Cuts Rate On Rewards Checking From 3.75% To 3.25% APY
2/6/11 - AmericaNet's Mega Money Market & Rewards Checking are Sold Out
1/11/11 - Americanet 3.75%RCA 10K Cap/1% >10K 10 Debit Txns
8/6/10 - Top Money Market Rate Continues at AmericaNet Bank and Evantage Bank
6/7/10 - Another Reader Hit By Americanet's Inactivity Fee
6/3/10 - Update on the Huckabay's Internet Banks and Their Top Rates
3/11/10 - Savings Accounts Remain Competitive at Redneck Bank and its Two Sister Banks
5/25/09 - 4.00% Reward Checking Account at Evantage Internet Bank
4/22/09 - Rate Cuts at Redneck Bank and Its Sister Banks
4/22/09 - 4.00% Reward Checking Account at AmericaNet Bank - Nationally Available
4/10/09 - Redneck Bank Stops Accepting New Applications
3/17/09 - 5.25% Reward Checking Account at an Oklahoma Bank (All America)
3/12/09 - News and Updates for Redneck Bank and Its Two Sister Banks
Awesome Bank
I opened the Mega Money Market account last year and have been extremely please with customer service and their rates. They just raised interest rates to 2.5% and increased their maximum balance from $35,000 to $50,000. Their daily transfer rate for ACH transfers from your checking account is $5,000 but with prior approval you can increase this, so I called the Mustang office and the lady who answered the phone took care of my request and I was able to complete the transfer with the app on my iPhone. Very convenient and easy customer care with this bank. I don't live in Oklahoma but the app and easy phone calls make it seem like they are just around the corner.
Almost An Excellent Bank
The only thing this bank needs is like many other online banks, it needs a better website. Customer Service is excellent, they actually have humans who work here.
Be Careful Of These Gotchas!
ACCOUNT TYPE:
Mega Money Market is a personal NOW checking account that offers a high interest rate of 1.50% APY for balances up to $35,000. Balances over $35,000 earn .50% APY only.
Monthly Statements:
Are received electronically. The monthly statement cycle ends on the 20th of every month. If the 20th falls on a Saturday, the cycle will cut off on the 19th (the Friday before) and if the 20th falls on a Sunday, the cycle will cut off on the 21st (the following Monday).
INTEREST:
Interest compounds monthly and is credited monthly. If the account is closed before the interest is credited you will not receive the accrued interest for that cycle.
DORMANT ACCOUNT:
A $10.00 per billing cycle fee will be charged if you have not made a withdrawal or deposit to your account for an extended period of time and we have been unable to contact you, your account may be classified as dormant by us.
NOTE:
They do not specify anywhere on their documentation what is considered "an extended period of time", but users report that after 1 year of inactivity the bank started to deduct $10.00 each month. Also no user on the forums has reported that AmericaNet Bank ever tried to contact them about their account being dormant, before proceeding to hit them with the $10.00 monthly dormancy fee.
24 Jun 17 Updated interest rate offered
Frustrated With Fees
In the 6 months I've had my money in the Money Market Checking account, I've been charged over $20 in foreign ATM fees they say they don't have, fees for transfers, and fees for using my debit card more than 6 times. Customer service is extremely hit or miss- I've gotten friendly employees and very rude employees and I'm just overall disappointed.
Data as of Q4 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 20093 |
| Year Established | 1969 |
| Employees | 110 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.49% |
| Return on Equity - YTD | 14.88% |
| Annual Interest Income | $25.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2019vs Q4 2018 | $467.5MM$438.5MM |
| Loans | Q4 2019vs Q4 2018 | $372.3MM$365.7MM |
| Deposits | Q4 2019vs Q4 2018 | $422.3MM$361.7MM |
| Equity Capital | Q4 2019vs Q4 2018 | $44.7MM$44.2MM |
| Loan Loss Allowance | Q4 2019vs Q4 2018 | $3.6MM$3.1MM |
| Unbacked Noncurrent Loans | Q4 2019vs Q4 2018 | $5.0MM$4.1MM |
| Real Estate Owned | Q4 2019vs Q4 2018 | $207.00K$539.00K |