All America Bank/Redneck Bank's MMA Rate Jumps

POSTED ON BY

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 earn 0.50% APY. There’s no official word yet on what the APY for balances of $50k+ will be. I will updating this blog post as more information is made available.

The rates listed below are the current rates.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.75*%-$50kAll America BankMega Money Market
OTHER TIERS: 0.50% $50k+
1.75*%-$50kRedneck BankMega Money Market Account
OTHER TIERS: 0.50% $50k+
Rates as of April 26, 2018.

All America Bank and Redneck Bank first launched the Mega Money Market, along with the Rewards Checking Account, in 2008. Redneck Bank stopped accepting new customers in 2009, and All America Bank did the same in 2011. The Banks started to accept new customers again in 2012.

From the time in 2012 when both Banks reopened the Mega Money Market Accounts, they have been earning the same rate. The low point was from September 2013 to October 2015 when the yield was 0.90%. The yield increased to 1.25% in October 2015 and to 1.50% in June 2017. During this entire time, the balance cap was $35k.

Both accounts have no monthly maintenance fees or minimum balance requirements. There is a limit of one account per individual, with a minimum opening deposit of $50. A $5 fee will be charged for each additional withdrawal beyond the six free withdrawals per monthly cycle.

Rewards Checking Accounts

The rates on All America Bank’s Ultimate Rewards Checking and Redneck Bank’s Redneck Rewards Checking are also scheduled to be increased to 2.25% APY (on qualifying balances up to $10k) on February 21. According to the promo page, "Any amount over $10,000 will earn 0.50% APY." There is no information on either website concerning any changes to the qualifying requirements. I will update this blog post as soon as I know more.

Thanks to the DA reader who emailed me with this exciting news.

Availability

Headquartered in Oklahoma City, All America Bank/Redneck Bank offers its product line nationwide to U.S. citizens and resident aliens with a valid Social Security Number or Individual Tax Identification Number.

Opening an All American Bank Mega Money Market Checking 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 account can only be done online.

Bank Overview

Redneck Bank used to be under Bank of the Wichitas, which was a separate bank with its own FDIC certificate. In June 2015, Bank of the Wichitas merged into All America Bank. Southwest State Bank, which operated Evantage Bank, was also merged into All America Bank at this time.

All America Bank/Redneck Bank has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 15.88% (above average) based on September 30, 2017 data. In the past year, the Bank increased its total non-brokered deposits by $31.58 million, an excellent annual growth rate of 10.7%. 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.

All America Bank is currently Oklahoma’s 40th largest bank, with assets in excess of $404 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 the 173 Money Market Accounts tracked by DepositAccounts.com that are available nationwide, All America Bank/Redneck Bank’s Mega Money Market APYs will own the top spot on February 21, barring any rate increases by other banks.

The above rates are accurate as of 2/9/2019.

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

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

Comments
deplorable 1
deplorable 1   |     |   Comment #1
Nice! I absolutely love this bank. Their ACH transfers are fast, you can link multiple external accounts and they have been keeping their rates very competitive.
1 elbarolped
1 elbarolped   |     |   Comment #3
Good to know! I was hesitant about opening a new account, but your info is reassuring!
deplorable 1
deplorable 1   |     |   Comment #8
Their customer service is also very good whether you use the online messaging or by phone. No call centers from India all U.S. based English speaking folks. They might have a southern accent though ; )
Att
Att   |     |   Comment #2
Kinda strange that the rate on the savings account will be effective 2/21/18.
Carpline
Carpline   |     |   Comment #4
Something to look forward to during a dreary February?
#5 - This comment has been removed for violating our comment policy.
DCGuy
DCGuy   |     |   Comment #10
Feb. 21? Must be in observance of the 119th anniversary of Vicksburg National Military Park.
FresnoMan
FresnoMan   |     |   Comment #12
Their statement cycles close on the 20th of each month. Unless that is a Saturday, then it would close on the 19th. If the 20th is on a Sunday, then it closes on 21st. That's the only thing I don't like about this bank. But, I've been with them a few years now and they do what they do quite well.
Joe
Joe   |     |   Comment #6
Not sure if it's worth the effort to open account. 1.75 is the best rate around but it's only up to $50k. If no cap, I'd open the account for sure.
deplorable 1
deplorable 1   |     |   Comment #7
You can actually have 2 accounts per SS# if you do one application @ Redneck and one @ All America. Someone posted this on here so I tried it and it does work. $100,000 is the true cap and $200,000 for married couples. How much liquid cash do you need?
DCGuy
DCGuy   |     |   Comment #9
How much liquid cash? Probably at least in the seven figures.
Struggling Investor
Struggling Investor   |     |   Comment #11
Seven figures? Me too, so long as you include a decimal point.
deplorable 1
deplorable 1   |     |   Comment #14
Are you counting CD's as liquid cash? If not you are losing quite a bit of interest keeping more than a million in liquid cash. Although that may start to change soon we will see.
DCGuy
DCGuy   |     |   Comment #15
If the question was directed at me, no I am not counting CDs. CD ladders are a good strategy in smoothing out interest rate raises and declines over the years. However, since 2009 as rates went downward towards zero, I ceased to put my money in any fixed term locked rates. Not much sense in locking down low rates (not unless you go into negative territory). I have a big bunch of I series Savings Bonds purchased before 2000 that have a 30 year maturity period, so I will let those be my "CD" substitute (especially since they have the guaranteed base rate when issued). If rates return back to pre-2008 levels, then I might consider putting money back to CDs.
RJM
RJM   |     |   Comment #13
Do they provide checks?
deplorable 1
deplorable 1   |     |   Comment #16
They do provide checks and there is that option in the online application process.
Anonymous
Anonymous   |     |   Comment #17
Are the checks free, and how many are provided?
RJM
RJM   |     |   Comment #18
I'm sorry, I should have asked if the checks were free?

Im unclear if the limit is $35k or $50k too.
Anonymous
Anonymous   |     |   Comment #20
Limit increased from $35K to $50K on Feb. 21.
RichReg
RichReg   |     |   Comment #21
Ask and ye shall receive;;
the first batch they will send you is of 120 checks.... and yes, they are FREE.
BTW, you can reach this bank easily at 888-210-2028.
RJM
RJM   |     |   Comment #19
Their website is frustrating. Does not say if checks for the 1.75% money market are free or not. And there is no apparent way to send an email to ask. Also unclear on the rate over $50k.

They don't have any good CD rates either.

So, I like the 1.75% but I wish I could get that on higher amounts. Because $50k is not going to solve my problem of getting my Ally account totals below the FDIC limit.

I have a discover account but they are not competitive at 1.40%.
deplorable 1
deplorable 1   |     |   Comment #22
@RJM: Listen I have 4 $50,000 Redneck/All America mega money market accounts currently open. 2 are mine and 2 are the wife's. I opened the first 2 @ Redneck bank and the other 2 @ AllAmerica bank. They Both show up under the same user name and password @ Redneck bank and they are both earning 1.75% and are active. So that's $200,000 @ 1.75%. Now each one gets the 6 withdrawals per month so 24 possible transactions. Checks are free also.
DGuy
DGuy   |     |   Comment #23
The rate for amounts over $50K is 0.5%. The deposit limit works best when you have a large family such as my manager who has 15 grandchildren. You could open 15 accounts at both banks which can cover up to $1.5 million in deposits.
deplorable 1
deplorable 1   |     |   Comment #24
The only real issue I have with this bank is their daily $5,000 max cap on ACH withdrawals imitated from THEIR website. Having 4 accounts though gives me the ability to transfer $20,000 out all at once $5,000 x 4. Also you can schedule another $5,000 per account to come out on the very next day or alternatively use a third party bank for ACH transfers. You can link a great many external accounts for transfers as I currently have 12 accounts linked. I have used many banks but this one is by far my most useful and easily accessed account for liquid cash. Don't let the "redneck" name turn you off as this is a great bank.
Nothing
Nothing   |     |   Comment #25
I luv the idea of having relatives as joint tenants on accounts...how did you get them to sign the sigcard and "swear" not to take the funds out early?
very anonymous
very anonymous   |     |   Comment #26
Even if you get your relatives to double-triple pinky swear that they won't take your money, that is not binding on their creditors or the government. If your relatives get themselves in any trouble, the money in the joint account will still be fair game for seizure.
Nothing
Nothing   |     |   Comment #27
Gift tax at some point in time, too
Bogie
Bogie   |     |   Comment #28
Not necessarily.
calwatch
calwatch   |     |   Comment #30
You just have to file the paperwork. Most people will be under the recently doubled unified exemption.
RJM
RJM   |     |   Comment #29
Just no real benefit for me versus leaving it at Ally where its at 1.75% in their no penalty CD.

I broke one last week to open the 11 month for 2.25 at Nasa. Thinking about more there as it was relatively easy. But I have other low rate CDs coming due in the next few months too.

They are at 1.4-1.45%.

I think I found a local rewards checking at 3% that I may or may not do. I have one at LMCU at 3%. Still have $15k in one at 2%. That's not really enough reward to fool with anymore.
RJM
RJM   |     |   Comment #33
I decided to go ahead & open it because in the next 2 months, I will have more CDs expiring and I need to take action now.

I might call & ask for an exception to the $50k limit because I can just open an account at Redneck, right ? Then why not allow me $100k and save the extra work?
deplorable 1
deplorable 1   |     |   Comment #35
@RJM: No! Please don't call attention to the fact that some of us have multiple accounts. This could be a computer glitch as you are only supposed to have one account per SS#. I never asked about this I just did it and it works. If you call attention to it they may shut off those with multiple accounts. **** this is why I don't post where I have been getting 5% APY for the last few years as this also involves multiple accounts.
RJM
RJM   |     |   Comment #43
Ok, I wont.

5%? Dang. I wish.

I think I have one at Penfed at 5%.
Vic
Vic   |     |   Comment #31
I have had the ACH $5k limit lifted for the day of the transfer setup by calling CS.
deplorable 1
deplorable 1   |     |   Comment #36
Right you are Vic I forgot to mention you can call and make a one time transfer and have that limit lifted. Calling in is still a bit of a pain but hey at least they actually pick up the phone over there and you are greeted with a friendly CSR.
RJM
RJM   |     |   Comment #32
Ok, opened the dang account. Only let me put one beneficiary. Only let me open it with $1000???

Does not mention they will be sending checks, only that I enabled them.

Nowhere does it say checks are free, in fact they go out of their way to indicate otherwise. Or at least discourage their use.

I like the billpay feature. 10 per month is plenty.

I gave them a username but its not going to be used to sign in with later on?

Apparently I am unable to log in or send additional money for now.

Why couldn't I open it with the $50k ?

I went with All America Bank because it sounds better than Redneck. And I don't think I want to willingly sign up for anything with redneck in the name.

I passed on the 2.25% checking account because its the same rate I get with no hoops for an 11 month CD.
666
666   |     |   Comment #39
"And I don't think I want to willingly sign up for anything with redneck in the name."
Carpet Bagger ??
RJM
RJM   |     |   Comment #40
a person from the northern states who went to the South after the Civil War to profit from the Reconstruction.

Well, I was 11 when my dad moved south for a job. So I guess so.
666
666   |     |   Comment #44
you are too nice

The epithet originally referred to an unwelcome stranger coming, with no more property than he could carry in a satchel (carpetbag), to exploit or dominate a region against the wishes of some or all of its inhabitants.
RJM
RJM   |     |   Comment #34
Lets look at how they imply checks are not available or free.

Free online banking Free VISA debit card
Free customer service Free email notification if overdrawn
Free electronic monthly statements Access to ATMs worldwide
No minimum balance
(Does NOT say Free checks)
------------
This account includes:

Six free withdrawals or transfers in person or at ATMs**
Bank-to-bank transfers
Person-to-person transfers
Overdraft privilege
Visa debit card
Direct deposit
Mobile deposit
(Does NOT say checks or even mention check writing)
----------
When applying the only mention was check here to enable checks. Did not say they were sending me any.

I understand that checks are outdated and all that but there are a few times a year where I need them or prefer them.
deplorable 1
deplorable 1   |     |   Comment #37
Just call or send them a message in the online message center and they will send them to you. Last time i checked they were free. They probably don't mention it because who uses checks anymore! lol Reminds me of my dad who still pays bills with checks through the mail with a stamp. I keep telling him you can do that online for free and even schedule them to be paid right on the due date but you can't teach a old dog new tricks I guess.
RJM
RJM   |     |   Comment #41
I was late to online billpay too. For awhile there I did not trust "free" billpay because it did not make sense to me. That was until about 20 years ago I guess.

I still remember my internet and phone getting cutoff and I had to go down to a grocery store and pay my bill. It was a very small amount, not even 2 full months. I must have missed a bill and forgot about it. That was embarrassing. I mean having to go to the grocery store to pay my bill. But they had me back on by the time I got home.
RJM
RJM   |     |   Comment #45
Deplorable,
Do you get 1 1099 or 2 every year? I guess the question is, is Redneck and All America the same or different banks?

One of my objectives in recent years is limiting the number of 1099s. But its getting to where Im just going to have to add to them. Or buy a ton more of stocks than I am comfortable with.
RichReg
RichReg   |     |   Comment #38
Seriously, ..does this bank really need to advertise what is clearly one of their largest expenses in maintaining these accounts (and which certainly can't help them in maintaining the rate)?
I also don't know of any other online Hi-yield Money Market acct. applications that generate a separate confirm that your checkbook is in process.

Maybe this bank should be also be providing free Fed-Ex/UPS labels for over-nighting deposits? That'll really keep the rate competitive!
RJM
RJM   |     |   Comment #42
They had me come up with a username but apparently my SS# is what they deemed to be my sign in name. Well, it will be if & when I ever get to sign in.

What about the $1000 maximum? Why?
Vic
Vic   |     |   Comment #47
$1k ACH limit applies to new customers for 30 days, I believe. Now that the account is active, you can set up your external bank to push as much funds as you want into Redneck Bank.
RJM
RJM   |     |   Comment #46
I have to say that this banks entire website seems awfully rudimentary.

They are a couple days slow to even reflect my deposit. I asked for checks but they cant send them because the deposit hasn't showed up yet. It wouldn't let me enroll in billpay. Just said FAILED.

It does not email me to let me know they responded to my messages and I tried to link another bank and got the trial deposits yet there is no place to enter them.

Wondering if this learning curve is worth it for a $50k max?
cdinvestor
cdinvestor   |     |   Comment #48
RJM I feel your pain. Similar aggravations here all in the last week. They are slow as molasses and I don’t care for the website design either. Now I am trying to link Discover bank with AAB for External Transfers. Having trouble with that too... Hoping things straighten out soon ??
RJM
RJM   |     |   Comment #49
I think I have discover & ally both linked now. Will try the bill pay again soon.

I recently opened a 3% rewards checking at a very small local CU and I guess we should not be surprised they aren't as good as the big boys when it comes to websites.

The reason I opened this was to get below the limit at Ally and to have a high rate without limitations like so many transactions per month.

I forgot that every time you link a new account, it eats up 2 of your 6 transactions per month.

I am still pondering more 2.25% 11 month CDs at NASA. Wondering what other offers the next 3-4 weeks may bring.
RJM
RJM   |     |   Comment #50
My 2nd attempt at starting to set up a billpay failed. The first time, it just said FAILED, this time, it was nice enough to let me enter all the info about a credit card and then said unable to accept. Try again later.
RJM
RJM   |     |   Comment #51
Twice I was unable to set up bill pay because of technical issues. Today I get an email rubbing my nose in it.

ENROLLMENT REMINDER
We want to inform you that your enrollment in bill pay is incomplete.


Icon



Log in now
WE’RE HERE TO HELP: Our records indicate that you have not completed your enrollment in bill pay from All America Bank. In order to activate this useful service, it is important to fully complete the enrollment process.

Here are some handy resources in case you have any questions about using bill pay.

INFORMATIVE RESOURCES:

Demo
VIEW
a brief demo
Savings Calculator
SEE
how much you can save with bill pay
FAQ
FIND
answers to FAQ

NEXT STEPS: To complete the enrollment form, log in to your account at www.allamerica.bank. Then select the “Bill Pay” link.

Log in now
TALK TO AN EXPERT
Contact us at 855-279-8354.
One of our bill pay specialists will assist you.
RJM
RJM   |     |   Comment #52
I again ran into their $5000 transfer limitation. All the little issues make me wonder if I should just cut my losses and close the darn account? Either that or open a 2nd account.

If I were to open a 2nd account with redneck bank, could I use the same login info ?
deplorable 1
deplorable 1   |     |   Comment #53
@RJM: The 1099's are available online. I believe there is a fee if you don't choose online statements and notifications. Both 1099's are on one page and under All America bank(obviously the Redneck is the subsidiary). I'll tell you exactly how to find them as it isn't intuitive. From the main page click on the TRANSACTIONS tab and scroll down to STATEMENTS/NOTICES click on that. Then check either box for your accounts and click on the account. This will open another tab, on the left side you will see 3 items STATEMENT/NOTICE/YEAR END SUMMARY click on year end summary and you will see your IRS Form 1099-INT listed with a download to PDF link to the right. While you are there make sure you are signed up for paperless statements to avoid a monthly fee click on the CHANGE USER OPTIONS link in the upper right corner. Make sure all the options say WEB ONLY and click on SAVE at the bottom of the page. The first month is rough with these guys on your first account with the initial transfer limit of $1,000 and a 30 day waiting period for ACH transfers(maybe they are not doing this anymore). All that was waved when I opened my other 3 accounts though. Just give them some time as this will all smooth out. All my accounts run like clockwork now with very few issues. You can set up notifications as well. The website looks really simple but there is actually quite a few pages you have to poke around a bit to find everything. Hope this helps.
RJM
RJM   |     |   Comment #54
It wont let me do anything without a pdf code. Why do I need a pdf code?

I had them turn off the transfer to allow a $24k transfer so I will soon have $30k with them.

Closed my large 1.75% no penalty at Ally. Still have 2 small ones. Put the bulk of that in NASAs 2.25% 11 month. So I hope I don't regret that. Short term rates are not going up a half % in a year are they?
RJM
RJM   |     |   Comment #55
I was not talking about 1099s, I was talking about logging in. Do you see them both with one log in?
deplorable 1
deplorable 1   |     |   Comment #56
@RJM: Yes after logging in I see both accounts on the same page and I can just click on either one. Also after setting up my second account all of my external accounts were automatically linked to the second account as well(probably a computer glitch but that works for me). I don't remember ever having to enter a PDF code. It looks like they are using a third party website for PDF downloads though so that may be why. Best to call customer service and let them walk you through all the steps as it doesn't sound like you are all set up yet. I had to wait 30 days for that transfer cap to be removed so you are lucky there. I didn't apply for all 4 account all at once either only one at a time and made sure each one was set up and working before opening another one. You are able to login and view your accounts though right?
RJM
RJM   |     |   Comment #57
I emailed them and they said there were no fees. I'm still not entirely comfortable with their website. But I can live with it for the better rate.

For now, Im still under the limit at around $30k but I have more money coming from CDs in a month and 2+ months so I might have to open another.

I also put $30k back in 2 local 2% reward checking accts that I intended to stop using unless or until they raise the rate. And when the weather was nice, I went out & knocked out the 24 extra transactions at gas pumps. But longer term, I have to get away from them when the premium is only .25%.

I have no problem logging in. And I called and asked for an exception to move in more, she asked how much, I told her $24k and then she went away & came back and said to log out and then try it. I did not get the impression that it was permanently gone. just a one time thing. And now that its linked at Ally, I can always pull from there if I need to. Oh and they are sending checks too.
deplorable 1
deplorable 1   |     |   Comment #58
You can only raise the ACH transfer limit to $5,000 permanently for daily transfers if you need more than that in one transfer you have to call. The great thing about this bank is that you can link so many external accounts. Most banks are capped at 1 like Dollar Savings Direct or maybe 3 max. Oh FYI you can use these accounts to open a Dollar Savings Direct account for the 1.8% and it does work even though they say it has to be a checking account. Since these are the 2 highest earners I thought that info may be useful. Good to see you finally got those checks which most banks do charge for now days I might add.
RJM
RJM   |     |   Comment #59
I use Ally for most ACH transfers. i am not with Dollar yet but I am leaning that way shortly. I had an account with Emigrant way back when and I kind of would prefer to avoid them again just because it was something of a bait & switch I felt like.

Twice I did try to set up billpays and got shot down trying to register for it. Now they have sent 2 emails telling me to do it. So I will try that again I guess.

I have a couple of credit cards set to pull payments from AA later when they are due.

Have you ever accidentally went over the 6 and did they waive the fee?

Ive done that once at Ally & Discover and both waived the fee when I asked. As long as its not an every month thing.
deplorable 1
deplorable 1   |     |   Comment #60
Yes I did go over the 6 withdrawal per month limit but only because they were counting the trial deposits for linking external bank accounts as actual withdrawals. I called them and they happily reversed the fee but stated that those trial deposits will actually count toward those 6 withdrawals in the future so you do have to plan carefully. I really HATE that law. I figure hey it's my money I should have the right to use it how I see fit without the government imposing restrictions or fees for using my own money.
RJM
RJM   |     |   Comment #61
Are you using the billpay?

Does AA go by the calander month?

Discover does. But Ally for me starts a new month on the 26th of every month.

So when you opened your 2nd account, how did you do it, from a different page or what? Just need to know in case I do decide to open another one.

Im single so I was thinking i just go to Redneck for my 2nd one, right?
deplorable 1
deplorable 1   |     |   Comment #62
I started with one account @ Redneck and then opened another @ AllAmerica. Same for the wife. It should work the other way as well(hopefully) so go to the Redneck site and see if you can open one there. I also checked the "new customer" box when I applied for the 2nd account so as not to clue them in. You have to remember that most of this is all computer controlled like the automatic approval process. Just fill out the right boxes and answer their questions correctly and you're in. I don't use their bill pay service but the 6 withdrawals per month resets either on the 20th or 21st of the month after the interest is paid.
RJM
RJM   |     |   Comment #63
You think the 20th or 21st might vary depending on when you opened your account?

Or it that the same for everyone?

Im probably going to try and set up the billpay in the coming weeks. I got the checks today.

I may or may not open a 2nd account depending on the other rates available next month and later when more CDs expire. But I will be maxing this one out probably.

I have 3-4 external accounts linked up and they don't really give me anything except the account number which is a bit of a pain. (Does not say Ally or Discover or whatever)
deplorable 1
deplorable 1   |     |   Comment #64
Here is their statement on the monthly cycle from the website: "Our monthly statement cycle ends on the 20th of each month. If the 20th falls on a Saturday, the cycle will end on Friday the 19th. If the 20th falls on a Sunday, the cycle will end on Monday the 21st." So it looks like the same for everyone. For bill pay however they say that you can do 10 transactions per month without a fee! Maybe I should start paying my bills from here as well. So bill pay looks to be separate from the 6 withdrawals per month rule which makes these accounts even more useful. You can rename all of your external accounts to anything you like. From the main page just click on SETTINGS at the top then ACCOUNT PREFERENCES you will see all of your external accounts listed. Click on each one and you will see the option to nickname the account. This makes it much easier to manage.
RJM
RJM   |     |   Comment #65
Thanks. I plan to set up my billpay and the limit of 10 is not a problem. Just curious because Ive never seen a limit on them before.

I opened a local 3% checking and it has a non activity fee for not using billpay I think.

And I cant recall if I signed up for it or not. Need to find out and then cancel it I guess. The billpay, not the account.

In a perfect world, I would have billpay,checks and unlimited transfers and a high rate with no max. And SOMEONE could offer that, they just do not. Yet.

As competition heats up. Someone will. In fact, competition may make this account obsolete if they don't go up when rates do. Hopefully they will. Because I want the fewest 1099s as possible every year.
deplorable 1
deplorable 1   |     |   Comment #66
@RJM: Yes you just described the perfect bank account which at this time does not exist. There was a time though when GMAC demand notes was beating MMA's and even most 5 year CD's paying around 7% APY although not FDIC insured was nearly perfect. I used to pay all my bills from that account and kept most of my liquid cash there. Now I have so many accounts that I get a stack of 1099s at tax time. Hopefully we will get back to 5% again and we can pare down some accounts and make life a bit easier. Good luck!
RJM
RJM   |     |   Comment #67
deplorable

I guess I am ready to try a 2nd acct at Redneck.

Can you tell me what to do or not do? I wont talk to customer service. Just go to Redneck and open another one? And then wait & see what happens?

I have a CD expiring on 4/5 so I want to be all set to be able to transfer it to Redneck by then.

And to clarify, all my prior links should automatically be set for my 2nd account, right?
RJM
RJM   |     |   Comment #68
Ok, I got most of my questions answered at AA. i hope deplorable is ok because usually he answers sooner.

Everyone is allowed 2 money market and 2 reward checkings at AA. One with AA & One with Redneck. So its policy, not an oversight. I did not tell them you were doing it, I asked if they had limits on both and they offered the details.

I am considering doing 2 of the reward checkings also. But I may wait until the 21st to do them. The first month, the 10 transactions are not required. So I might as well take full advantage. The good news is I can add $70k in more money here at 1.75-2.25%. Without breaking any rules, I can have 50+10 in both banks.

I was also able to nickname my external accounts. something I could not figure out on my own.
RJM
RJM   |     |   Comment #69
So AA finally sent the tiny transfers but there is only 1 supervisor who can approve the transaction and he wont be back for up to 3 days. $5000 at a time would cost me money and online billpay would take days I assume.

This should not happen and its pitiful that it has.
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...

Continue Reading
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...

Continue Reading
Top Money Market Rate Continues at AmericaNet Bank and Evantage Bank

If you want 2% on a savings or money market account, there are not many choices in today's interest rate environment. There continues to be four banks that offer 2%+ on their nationwide accounts as of 8/06/2010. All four have balance caps which limit the amount that will qualify for the 2%. There are also other conditions. EverBank's 2.25% is only a promo rate that lasts for 3 months (see review). SmartyPig's 2.15% APY requires setting up goals. For the other two banks, Evantage Bank and AmericaNet Bank, there are...

Continue Reading
4.00% Reward Checking Account at Evantage Internet Bank
Update 4/22/09: The top rate is scheduled to fall to 4.00% APY starting 5/5/09.

Evantage Bank is an internet banking division of Southwest State Bank. It offers a reward checking account and a high yield savings account. The rewards checking account 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 check card purchases
  • receive electronic statements
If these are not met, the rate falls to 0.25%. There are no minimum balance requirements and no monthly maintenance fees. Minimum initial...


Continue Reading
Rate Cuts at Redneck Bank and Its Sister Banks
It's yet another unfortunate example of high-yield accounts becoming overloaded with deposits. Redneck Bank and its two sister banks (AmericaNet and Evantage) sent out emails today informing their customers of rate cuts scheduled to take effect on 5/05/2009. These banks had been offering leading rates for both their reward checking accounts and online savings accounts.

Here's a copy of the email sent to Evantage customers. I've seen readers post similar emails for AmericaNet and Redneck Bank.

It was only in March that these banks put in place new tiers which limited...



Continue Reading

More Past Offers



The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact feedback@depositaccounts.com to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.