All America Bank/Redneck Bank Up Money Market Rate and Balance Cap


Update 12/26/22: Account rates were increased on 12/21/22. The Mega Money Market rate increased 25 bps to 4.25% APY for balances up to $75k. The Rewards Checking Account rate increased 25 bps to 4.50% APY for balances up to $15k when qualifications are met. The following post was originally published on 11/29/22.

Deal Summary: Mega Money Market, 4.00% APY on balances up to $75k, balances over $75k earn 0.50% APY, minimum $500 opening deposit.

Availability: Nationwide

About a week ago, Oklahoma-based All America Bank and its online “country cousin” division, Redneck Bank, began offering a higher rate and a larger balance cap on its Mega Money Market (MMM) accounts. Following the addition of 95 bps, the Mega Money Market (MMM) accounts now earn 4.00% APY on balances up to $75k (previously $50k); balances over $75k earn 0.50% APY.

4.55*%-$75kAll America BankMega Money Market Account - Online Only
OTHER TIERS: 0.50% $75k+
4.55*%-$75kRedneck BankMega Money Market Account - Online Only
OTHER TIERS: 0.50% $75k+
Rates as of March 24, 2023.

Thanks to DA reader, steve_okc, for his Forum post about this latest rate hike.

A Brief Account History

The MMM accounts, along with the Rewards Checking Accounts, were introduced in 2008. At that time, there were three Oklahoma banks that operated Redneck Bank and two additional internet banking divisions. All three of these internet banking divisions offered the MMM accounts and Reward Checking Accounts.

Redneck Bank proved to be the most popular internet banking division, and it’s the only one that’s still in operation. In 2015, the three Oklahoma banks consolidated into one bank, All America Bank, and now Redneck Bank operates as an internet banking division of All America Bank.

Both Redneck Bank and All America Bank offer the MMM accounts and Rewards Checking Accounts with the same rates and features. In the history of the MMM, its rates have occasionally been competitive. Top rates in the past were tempered by balance caps. Early in its history, the cap was $35k. That was increased to $50k. In 2019, the APY peaked at 2.50%, which was above the online savings account average peak (2.23%). Its rates were well below this average in late 2021 and early 2022 when its APY bottomed out at 0.30% while the average online savings account bottomed out at 0.45%. Beginning in February 2022, a series of rate hikes pushed the MMM accounts closer to those nationally available money market accounts at the top of the rates peloton.

Account Details

The following information was obtained from CSR and apply to both All America Bank and Redneck Bank MMMs.

  • No monthly maintenance fees.
  • No minimum balance requirements
  • $500 minimum opening deposit.
  • Limit of two MMM accounts per Social Security.
  • $5 excess transaction fee for each additional withdrawal beyond the six free per monthly cycle.
  • $3 monthly charge for paper statements; eStatements available at no charge.
  • Ten free Online Bill Pay transactions allowed each month; 50¢ charge per transaction beyond the ten free transactions.

ACH Concerns

In the past few years, DA readers have voiced concerns with All America Bank’s ACH transfer limits and hard/soft pulls. According to CSR:

  • ACH transfers initiated by All America Bank are limited to $5k per day, but a larger limit for a specific transfer can be requested by calling the Bank.
  • There is no monthly dollar limit on ACH transfers.
  • Opening a Mega Money Account will incur a soft pull, not a hard pull.

While the relatively low balance cap on the Mega Money Account may be a deterrent for some, DA reader, deplorable1, explained his strategy in a comment in response to steve_okc’s Forum post.

The max is pretty high now they will bump it to $75,000 for the Mega Money Market account tomorrow 11/22/22 and you can have 2 of them one at Redneck and one at All America so that's $150,000 per SS# and that means 12 withdrawals per month 6 at each account. With spouse/SO it's $300,000 cap and 24 transactions 6 per account. I have always had 4 of these since day one. Also one username and password for both accounts so it's pretty simple. You can still go over the 6 per account for a $5 fee they won't close the account like some banks.

Rewards Checking Accounts

The rates on All America Bank’s Ultimate Rewards Checking and Redneck Bank’s Redneck Rewards Checking have also been increased to 4.25% APY on qualifying balances up to $15k (increased from $10k). Qualifying balances over $15k earning 0.50% APY, with non-qualifying balances earning 0.25% APY.

4.80%-$15kAll America BankUltimate Rewards Checking
4.80*%-$15kRedneck BankRedneck Rewards Checking - Online Only
OTHER TIERS: 0.50% $15k+
Rates as of March 24, 2023.

Qualification Requirements

  • At least ten debit card transactions per monthly statement cycle.
  • Receive statements electronically.


Headquartered in Oklahoma City, All America Bank/Redneck Bank’s product lines are available to all U.S. citizens and resident aliens with a valid Social Security Number or Individual Tax Identification Number.

Opening a Mega Money Market and/or Ultimate Rewards Checking account at All America Bank can be done online, or at any of seven Oklahoma branches located in Cache, Elgin, Medicine Park, Mustang, Oklahoma City, Sentinel, and Snyder.

Opening a Redneck Bank Mega Money Market and/or Redneck Rewards Checking account can only be done online.

Bank Overview

All America Bank/Redneck Bank has an overall health grade of "B" at, with a Texas Ratio of 11.03% (excellent) based on June 30, 2022 data. The Bank has an above average capitalization level (10.74%.), the result of holding $493.66 million in assets with $53.01 million in equity. Please refer to our financial overview of All America Bank/Redneck Bank (FDIC Certificate # 20093) for more details.

Originally established in 1969 as The First Mustang State Bank, All America Bank is the latest chapter in the Huckabay family banking legacy. Straight out of a Horatio Alger novel, young T.C. Huckabay,

began our enterprise in 1927 in Mountain Park, Oklahoma. He was just a kid, even by today’s standards, a young strapping guy of 19. He started his career as the proof operator, teller and janitor. Through decades of hard work and good luck, he became the owner of two banks eventually known as Bank of the Wichitas® and Southwest State Bank.

Redneck Bank used to operate as a division of Bank of the Wichitas®, which merged into All America Bank in June 2015. Southwest State Bank, which operated Evantage Bank, also merged into All America Bank at the same time.

All America Bank is currently Oklahoma’s 45st largest bank, with deposits in excess of $415 million and more than 23,500 customer accounts. All America Bank remains a community bank and continues to be run by the second and third generations of “the banking Huckabays.”

How the Mega Money Market Account Compares

When compared to the Money Market Accounts and Savings Accounts tracked by that are available within the market area and do not require large balances, direct deposit, or have small balance caps, the All America Bank Mega Money Market Account APY currently ranks second.

The above information and rates are accurate as of 11/29/2022.

To look for the best rates on liquid bank accounts, both nationwide and state specific, please refer to our Money Market Accounts Table and Savings Accounts Table.

Related Pages: Wichita Falls money market accounts, Oklahoma City money market accounts, money market accounts, reward checking accounts, nationwide deals, Internet banks

  |     |   Comment #1
I’ve never seen AA/RED rate changes mid-cycle, so you’re probably safe from rate drops until the next 21st of the month which is when the new statement cycle begins. Always check the rate every month advertised on the website on the 21st for changes. They do grandfather accounts for rate increases which is superior to some other banks. As I recently posted think of this account as a 4% (or 4.25%) no penalty CD which may or may not renew on the 21st at a rate you find acceptable.
  |     |   Comment #2
Do you know if there are limits on ACH withdrawals initiated from another bank?
  |     |   Comment #3
I’ve had no problem with sizable ACH withdrawals initiated from another bank. You can send money out from AA/RED, but as the blog said if it’s over $5K just call to get manager approval to get the limit raised, then log out and log back in. Can’t speak for others, but my limit has been $50K.
  |     |   Comment #4
One other note: for the 4.25% Reward Checking the account accrued interest shown on the app or website will be very small since it reflects only the low default rate. Don’t freak out - if you qualify the statement will show the sizable remainder of the interest you earned itemized as BONUS INTEREST.
  |     |   Comment #9
No limits on ACH withdrawals from external banks/FIs. $50,000 max daily ACH transfer cap for transfers initiated from Redneck/AllAmerica(phone call required). $5,000 ACH cap with no phone call.
  |     |   Comment #5
Yeah, O.K., ...but which bank or credit union is going to drop rates in this environment?
  |     |   Comment #11
It will be coming sooner than you think......brokered cd's have already come down from their high.......other account types will follow soon. Just watch.
  |     |   Comment #22
This reminds me of my great, late friend Bozo, who coined the term "bozo indicator."

It is a bit complicated, but essentially states that when money market mutual funds rate fall, short-term rates will also fall. This may seem counter-intuitive, but in fact works, because money market mutual funds, invest in short-term fixed-income.

So, watch the Bozo Indicator!

Bozo referred me to this site, and I am so grateful to all the good friends he and I have made!
  |     |   Comment #44
I have been wondering what happened to Bozo, why he doesn't post anymore. I am very sorry to hear that he passed away
  |     |   Comment #12
Why would banks drop rates on liquid cash while the FED is still hiking short term rates? As much as the stock market would love to see the FED reverse course and take rates negative again it won't be happening any time soon. Inflation is nowhere near 2% and that last CPI number was off due to the service sector. The recent drop in long term CD rates could very well end up being a head fake as could the recent drop in oil prices after we see what OPEC and the effect of the Russian oil cap has on supply. This will take months to all play out meanwhile short term interest rates will be climbing.
  |     |   Comment #38
I just feel it coming......High (relatively) rates never seem to last long.....especially after what Powell said today and the market skyrocketed over 700 points......But you make good points as well. We'll see.
  |     |   Comment #43
I try to plan 2-3 weeks ahead, coordinating Treasury purchases (mostly 17-week now) with any bank movements. I’m hoping that AA/RED will bump up their Rewards Checking to 4.5% on 12/21. If they do I’ll stay another month fully funded in those accounts.. The 4% no-requirement Money Market is still good but becoming a more common rate with other banks. My funds in those accounts might be transferred out if another bank comes along by the 21st with something more enticing (I’m thinking 4.25% or better).
  |     |   Comment #7
Darn, I recently closed my All America account after a few years of non use and subpar rates.. At least I kept my Redneck account open.

Nice bank and always been friendly in my limited contact. They even send out birthday cards!
  |     |   Comment #8
I have other reward checking accounts who have refused to adjust their rates, still with rates in the low to mid 2’s. My balances are negligible. I could easily close those accounts and move on. But as your comment suggests, you don’t know who your best friend will be a year from now. So there’s some validity to that old expression “be careful how you treat others on the way up, you’ll be passing those same faces on the way down”.
  |     |   Comment #10
I see people complaining about how their rate has been lackluster in the past but I have mostly used this account more as a HUB rather than strictly for a savings type of account. Unless like now they become highly competitive then I move in more funds. They allow unlimited linking of accounts for ACH transfers and with 2 accounts that gives you 12 fee free transfers per month(24 with spouse). I have yet to run into any type of account that does not link properly. Even (prepaid debit card) Netspend savings type accounts have no issues linking.

So when comparing this account interest rate wise it would be useful to compare it to other HUB accounts such as Ally for example. When you do you will quickly realize that this account has maintained a much higher yield over time when compared to other HUB type accounts. That is where Redneck bank really stands out from the competition.
  |     |   Comment #13
It just got to the point where I couldn't keep up with all the accounts opened over the years and I was messing up and getting some inactivity fees.My health wasn't 100% and my wife just got overwhelmed when I tried to coach her through my monthly banking It was just time to take a day and cull some of the old accounts. Unfortunately the Evantage account was one of them.
  |     |   Comment #45
yes I feel the same way. I just have so many accounts and trying to keep them all acrive is a pain. I just closed out 2 accounts and will close out at least one more. I use Ally as a hub even though their rates are not the best but they do make the website extremely easy to use and ACH transfers are easy and quick
  |     |   Comment #14
All America doesn't always have the most competitive rate, but they do pay attention better than some of the big banks. I have been with them for over 10 years. The nice thing about them is that when you call them, somebody nice picks up the phone immediately and actually helps you- not a computer. They send you a signed birthday card (OK- I would rather they send money, but what other bank does this?)
  |     |   Comment #15
Customers Bank offers same day transfer up to $100K, and next day up to $250K. How about Redneck?
CB also has no limit on number of linked accounts.
Howeverr, CB's savings rate is only 3.05%, but with no cap.
  |     |   Comment #17
Milty so just do an external ACH transfer at Redneck if 50k is too small and it's daily there is no weekly or monthly cap so you could do another 50k the next day up to 6 per mo. fee free so potentially 300k in a week. And yes the interest rate does matter as well even if it is capped. No lost opportunity cost at 4% while transferring funds as long as you keep them under 75k.
  |     |   Comment #21
D1: just to be sure I follow are you saying that Redneck offers same day external transfers so that the funds arrive at their destination on the same day that the transfer was initiated on? (This assumes the transfer date is a business day.)
  |     |   Comment #26
1-2 days Milty but you can schedule another transfer up to 5k(per day) or call in the next day to do another transfer up to 50k(per day).
  |     |   Comment #16
I spoke with a supervisor at AA inquiring about which credit bureau was used for the soft pull before I lifted the security freeze on my credit report(s). Said I need to lift all three, but to wait a few days after the lifts to apply online. Has anyone encountered this at AA? My security freeze lifts at other FIs have always been instantaneous. And anyone know which credit bureau is used so I don't have to lift all three?
  |     |   Comment #18
I don't understand why people do these credit freezes unless they are dealing with some type of fraud issue and want to make sure nobody opens an account in their name. I always recommend not to do them unless you like problems. All it does is stop YOU from opening bank accounts and credit cards I personally have never done one.
  |     |   Comment #19
You clearly do not understand what a credit freeze does.  A credit freeze restricts access to your credit report, which means you — or others — won't be able to open a new credit account while the freeze is in place. You can temporarily lift the credit freeze if you need to apply for new credit.
  |     |   Comment #20
A maintenance inquiry is not subject to a credit freeze. Further, a so-called “soft pull” gets the recipient the same info (access to your credit info) at a lower cost/fee to the requester…all of which does not require your consent and which you can’t control!  And the point on opening/giving credit account …that is not determined by the credit reporting agency!
  |     |   Comment #29
Thanks GregoryG I think I got it. I have seen literally thousands of posts with people reporting have many issues opening accounts. The freeze doesn't lift, I missed a good CD deal due to a credit freeze, I got denied credit due to a freeze......the list is endless.
  |     |   Comment #23
I have credit freezes at the three bureaus and at Chex.

It can be inconvenient at times, but it will help protect you from any kind of fraud which requires a hard inquiry which can potentially be catastrophic.

It is a good idea to wait for a few days if you lift the freeze before assuming a hard inquiry will be successful because it does not always thaw immediately. The credit lift should generally not be necessary for a soft inquiry but if a management level person told you that it was in their case, not following their advice could lead to a problem.

In my view maintaining credit freezes is a critical part of asset protection protocol. I think it's especially applicable for people here who tend to share their critical private ID and financial data with more financial institutions and people than the average person does. I think that increases their risk of being victims of fraud. It's a risk related to the kind of institution shopping that is a main topic on this site but it is rarely mentioned.
  |     |   Comment #24
We use life lock, if anyone tries to open anything with either of our social security numbers we are alerted immediately and then if not us we let them know.
  |     |   Comment #25
I don't trust LifeLock or similar services mainly because I think they are too much of a target for hackers and others with bad intent. I think it's possible that it might increase your risk rather than reduce it. I would not want to give them my private information.

The real issue is that we have this stupid system of confirming identity, starting with the neanderthal social security number system. The whole thing should be scrapped and replaced with modern technology. Identity theft is entirely unnecessary. The system is hopelessly outdated.
  |     |   Comment #28
We got it for free because of some database leak but it's up this year....never had a problem with them or before them so no clue.
  |     |   Comment #30
A freeze protects you from identity thieves looking to open new credit lines or loans under your name, but it does not protect you from fraud against existing accounts. If someone has access to your credit card information or Social Security number, they can still commit fraud.
  |     |   Comment #32
Right Mak I would only use it if I know someone is trying to open accounts in my name to shut them down. A useful tool for that.
  |     |   Comment #34

Correct. A credit freeze doesn't protect you against every kind of fraud. Neither does anything else.
  |     |   Comment #31
Yep lifelock then has your data which ends up leaving you more vulnerable. I keep pretty good track of my accounts. I have had credit card fraud a few times but they just issue you a new card with a new account number 0 liability. New inquiries show up on your credit report and I know if it was me or not. No company can prevent identity theft and LifeLock has had to put out this disclaimer on their commercials now.
  |     |   Comment #33
My wife is the one that takes care of all that stuff so if anything happens at least I have someone to blame...')
  |     |   Comment #35
LifeLock 1.13/5 stars with BBB.

Unlike financial institutions they are unregulated. So there is no oversight of their security systems. That coupled with there unethical business practices makes it a no way for me free or not free.
  |     |   Comment #36
Okay, wish me luck then...;)
  |     |   Comment #37
There's always food stamps. They give you a nice fancy card now so you don't have to be stigmatized at the cash register when you're buying your porterhouse steak while all the foolish people who have jobs have chicken nuggets in their carts.
  |     |   Comment #39
Hmm, you don't have one then there fancy cards do you? Sounds like maybe since yous know all them fancy cuts of meat.
  |     |   Comment #40
Yeah but then it takes forever when they have to bounce a check for smokes and booze. ; )
  |     |   Comment #41
@deplorable_1, I have had several identity theft events in the past with person(s) opening credit cards and consumer loans with my identifying information.
  |     |   Comment #42
Oh you had people actually trying to open accounts in your name? Sorry about that I only had a few fraudulent charges before. In your situation a credit freeze is probably a wise move then that's what it's for IMO. I guess I have been lucky so far I haven't had to do that.
All America Bank/Redneck Bank Ups Mega Money Market to 2.50% APY
Deal Summary: Mega Money Market, 2.50% APY on balances up to $50k, balances over $50k earn 0.50% APY, minimum $500 opening deposit.

Availability: Nationwide

Oklahoma-based All America Bank and its online “country cousin” division, Redneck Bank, made a note-worthy move in the rates race this morning. The Mega Money Market (MMM) accounts now earn 2.50% APY on balances up to $50k; balances over $50k continue to earn 0.50% APY.

Thanks to DA reader, RJM, for the Forum post about this latest rate hike.

A Brief Account History

Continue Reading
All America Bank/Redneck Bank Boosts Mega MMA Rate
Deal Summary: Mega Money Market, 2.25% APY on balances up to $50k, balances over $50k earn 0.50% APY, minimum $500 opening deposit.

Availability: Nationwide

The latest banks to raise their Money Market Account rates are the Oklahoma-based, All America Bank and its online “country cousin” division, Redneck Bank. Their Mega Money Market (MMM) accounts now earn 2.25% APY on balances up to $50k, with balances over $50k continuing to earn 0.50% APY.

All America Bank and Redneck Bank first launched the MMM, along with the Rewards...

Continue Reading
All America Bank Ups Mega Money Market Rate
Deal Summary: Mega Money Market, 2.00% APY on balances up to $50k, balances over $50k earn 0.50% APY, minimum $500 opening deposit.

Availability: Nationwide

Yesterday, All America Bank and its online “country cousin” division, Redneck Bank, raised the rates on their Mega Money Market (MMM) accounts to 2.00% APY on balances up to $50k; balances over $50k continue to earn 0.50% APY.

All America Bank and Redneck Bank first launched the MMM, along with the Rewards Checking Account, in 2008. Redneck Bank stopped accepting new customers in 2009,...

Continue Reading
All America Bank/Redneck Bank's MMA Rate Jumps

UPDATE 2/22/18: The new rates and balance cap took effect yesterday, as scheduled. The second tier rates did not change and information on those have been added to this post.

Deal Summary: Mega Money Market, 1.75% APY up to $50k, balances over $50k earn 0.50% APY, minimum $50 opening deposit.

Availability: Nationwide

As scheduled, All America Bank and its online “country cousin” division Redneck Bank raised the rate on their Mega Money Market Accounts yesterday to 1.75%, with the $35k balance cap increased to $50k. Balances over $50k will...

Continue Reading
All America Bank's Mega Money Market Now Earns 1.50% APY ($35k Max)
Deal Summary: Mega Money Market, 1.50% APY (up to $35k), minimum $50 opening deposit.

Availability: Nationwide

All America Bank (and its online “country cousin” division, Redneck Bank) raised the rate on its Mega Money Market (1.50% APY) by 25 bps yesterday. While the Mega Money Market has no minimum balance requirement, the 1.50% APY is capped at $35k; balances of $35k+ earn 0.50% APY.

All America Bank has been offering the Mega Money Market since 2009, with an initial rate of 2.00% APY that lasted for more than...

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