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

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, with All America Bank doing the same thing in 2011. Both Banks reopened their MMM accounts in 2012, and from that point on, the rates mirrored each other. Beginning in September 2013, the MMM experienced its lowest APY (0.90%), which lasted for more than two years. The yield increased to 1.25% in October 2015 and to 1.50% in June 2017, with a balance cap of $35k. This past February, the rate was raised to 1.75% APY and the balance cap increased from $35k to $50k. June and October saw two rate increases, boosting the APY to 2.25%.

Account Details

Both accounts have no monthly maintenance fees or minimum balance requirements. The minimum opening deposit is $500, with a limit of one account per individual. A $5 fee will be charged for each additional withdrawal beyond the six free withdrawals per monthly cycle. There is a $3 monthly charge for paper statements, with eStatements available at no charge. Ten free Online Bill Pay transactions are allowed each month, with a 50¢ charge per transaction beyond the ten free transactions.


My October 2018 blog post elicited several comments about ACH transfer limits and hard/soft pulls. I spoke with an All America Bank CSR this morning and was told the following:

  • ACH transfers 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, summed it up this way in a comment from the October blog post.

Obviously these accounts are best suited as a hub for moving around smaller amounts of cash for paying bills or doing bank bonuses rather than large amounts for opening CD's etc. I have 4 accounts 2 for me and 2 for the wife so I don't run into the caps very often.

Had an experience with All America Bank and/or Redneck Bank you would like to share? Comment below

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 3.00% APY on qualifying balances up to $10k. Qualifying balances over $10k earning 0.50% APY, with non-qualifying balances earning 0.25% APY.

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 "A" at, with a Texas Ratio of 8.88% (excellent) based on September 30, 2018 data. In the past year, the Bank increased its total non-brokered deposits by $21.51 million, an excellent annual growth rate of 6.58%. 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 41st largest bank, with assets in excess of $422 million, and remains a community bank run by the second and third generations of “the banking Huckabays.”

How the Mega Money Market Compares

When compared to 182 Money Market Accounts tracked by that are available nationwide and do not require a large minimum balance, All America Bank/Redneck Bank’s Mega Money Market APYs currently rank first.

The above rates are accurate as of 1/23/2019.

To search for Money Market rates, both nationwide and state specific, please refer to the Money Market rates section of

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

  |     |   Comment #1
Don't know if it was the case in the past but, All American charges for checks now.
And yes, I know that checks are 19th century....
  |     |   Comment #5
That was not the case when I opened my account...however long ago.
  |     |   Comment #10
Yeah, I kinda' figured it was a brand spankin' new feature.
deplorable 1
  |     |   Comment #2
It is worth repeating that the real cap is $100,000 since 2 accounts are allowed per person with only one login required. A spouse can also have 2 accounts which brings the total to $200,000. The 2 accounts seem to be tied together for ACH transactions once you set up 3rd party banks you can choose either account to transfer funds back and forth which is very convenient.
  |     |   Comment #3
I am not sure I understand why a bank would place such an arbitrary ceiling on deposits.
  |     |   Comment #8
Placing a maximum amount would limit the amount of interest paid out as well as limit the impact of a large sums of money going in and out rapidly. If several millionaires deposited over tens of millions into the bank and then move it out quickly in a few months would disrupt bank operations.
  |     |   Comment #9
Another possibility is that the maximum balance is comparable to what the average savings account balance amount for OK. Like the annual limit placed on Savings Bond purchases.
Get Real
  |     |   Comment #4
Now let's see if someone goes to 2.75%.
  |     |   Comment #6
Might take another Fed hike to get there...
Get Real
  |     |   Comment #7
#6 Could be .. Just have to sit back and watch.
  |     |   Comment #11
I have had 2 accounts with Redneck since 2008, that is for over 10 years. Maintained 10K each all these years, never overdrew, nothing negative. Sometime last year, I applied to open the Money Market Account, my application was pending for over 2 weeks, spoke to a few reps, who said all is good. Then they asked for some documents etc. I was really surprised that having been a 10 year customer with nothing negative, they are asking for additional documents etc. I refused and promptly they denied my application.
  |     |   Comment #12
That is because they are required to maintain ID records for new and existing customers. I recently had the same with Synchrony.
  |     |   Comment #13
And credit card issuers are doing the same too
  |     |   Comment #15
Recently I opened a new account at a credit union, and they hounded me about my Identity documents. They have a copy of my driver's license, recent utility bill, and a recent state issued bill for a auto tag renewal. They keep contacting me wanting another state issued photo ID or a copy of my Social Security card. I thought that was over the top. I have never sent anyone my SS card copy.

Is this the new normal?...……...Anyone else experience this recently?
  |     |   Comment #16
Last year a CU wanted DL and copies of Soc Sec cards (they don't get the original) in connection with a large CD to be opened in branch. (I had no problem with that) They also got couldn't get any credit report info, i.e. could not confirm Soc Sec numbers, and wanted me to unfreeze. I said no. I told them I'm not applying for any credit related item. Told them to go to Chek Systems (they had a placard from it on their desk)...which presumably the did. For those negotiators out there: they also provided the needed seed money for the basic acct. and it goes on today. However, all current rates have otherwise gone south or north for those in Atlanta.
  |     |   Comment #18
#15 - Yep. In 2018 or 2017, one of the non-local banks or CU's I joined to get an above-market-rate CD asked for a copy (scan or paper) of my Social Security card. (I can't recall which one offhand - I keep scans of exactly what I send them, but I'm too lazy too look it up right now).

Here's why I didn't consider it a big deal - on (I'd estimate) 95% of the applications you have to fill out for membership, accounts, etc. at a bank or CU, you have to list your SS no. anyway, plus of course your name. Let's say a particular website, or even a particular person at a brick-and-mortar bank, was really a fraudster - these days, would it really be difficult for him to Photoshop a valid SS no. and name received from an application (online, or in person), onto a mock SS card, to pass as you? I think not - the background imagery of all SS cards is the same. So after verifying them thoroughly, I scanned my SS card and emailed it.

On a related issue - a year or so ago a different financial institution requested an emailed scan of a NOTARIZED copy of my driver license, which I thought was hilarious because notarizing a copy of a driver license does nothing to increase its believability - it simply means that someone with that license card (fake or not) made a photocopy of it, went to a notary public and showed them the copy, and the notary attested to the fact that this person did in fact show up, and sign that copy! I complied because it was a very good rate (it may have been the Keesler CD; can't recall for sure), and I keep fee-free accounts at a couple of local banks with free notary service partly for that purpose.
  |     |   Comment #20
#16, #18
Thanks, I guess I never considered the SS replication. Maybe if you have a security freeze that would keep anyone from being able to open accounts or lines of credit in your name.
  |     |   Comment #21
Old Dog. Right but it is all a game and “they” set the rules! One can open an account without a credit report. What/where is soft/hard pull defined? It is a scam that all of us are part of! Be careful out there!
  |     |   Comment #14
If you are wanting to open another Mega Money Market account, you will have to open it with our online only bank division, Redneck Bank. You are only allowed to have one Mega Money Market account with your social security number listed as primary for each bank (All America Bank and Redneck Bank). To open the account, you will need to go to the website and select the option to “open account” for the Mega Money Market account type. You should have the option to apply as an existing customer so that the application process is not as lengthy.
  |     |   Comment #17
This has been a great account.......They have kept the rate increases coming! I'm done chasing around the shiny new rate from some upstart money market. Better to just be patient and stick with this........I chased Northern Direct......It was great for all of about 5 minutes.
dick THE WEASEL durbin
  |     |   Comment #19
So the best 1 yr CD rate is 2.95 @ State Bank of India? One review and it was not good.
  |     |   Comment #22
FYI - Received an email this morning that Northern Bank Direct just increased existing money market rates to 2.50% APY, for accounts up to $250K. (Several posters here has started this account last June when they offered 2.26%, with a guarantee for one year.)
  |     |   Comment #23
Yes, me too. Makes the 2nd AA acct unnecessary.

Will crank that account back up. Currently only $10 in there.
  |     |   Comment #24
1.51% relfected on their website for money market for now.
  |     |   Comment #25
The 1.51% rate will continue for new customers. Only existing customers are eligible for the 2.50%. Mine shows 2.37% as of last statement which is too high. But not high enough to equal 2.50% either? Maybe that will correct itself shortly? A 2.47% rate= 2.50% APY.

Current balance: $10.00
Available balance: $10.00
Last statement date: 12/31/2018
Last statement APY earned: 2.37%
old lady aunt
  |     |   Comment #26
ugh, why do they have to name it that? looking for high yield and am reminded that there are people who would be happy to hurt my mixed family.
  |     |   Comment #27
They are two sister banks. If you prefer, open an account at All America bank. There is no mention of redneck or inbred families. If you want to double up, you have to open a redneck account too.
(50k each max)
  |     |   Comment #28
Ken -
I think there's an error in the "All America Bank - Mega Money Market Account" account details drop-down box at the top of this page. It indicates "Required Number of Monthly Debits = 10". I don't see that requirement on All America's website and it's not a requirement in the Redneck Bank account details drop-down box. Thanks.
  |     |   Comment #29
The 2.50% money market does not have any required debits.
The 3.00% Rewards Checking requires 10.
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...

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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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AmericaNet's Mega Money Market & Rewards Checking are Sold Out

AmericaNet Bank has stopped accepting new applications for its Mega Money Market account and its Rewards Checking account. The bank has "sold out" notices on its website. Its sister bank, Evantage Bank is still accepting applications for these accounts. The other sister bank, Redneck Bank stopped accepting applications for these accounts many months ago.

So now the only option for these accounts is Evantage Bank. Even with a recent rate cuts, these accounts remain good deals. As of 2/6/2011, the Mega Money Market pays 1.75% APY on balances up...

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