Redneck Bank

Deposits held and insured by All America Bank

Overview / Commentary
888-210-1256
200 South Rockwell Avenue
Oklahoma City, OK 73128
Deposits held and insured by All America Bank

Yes, Redneck Bank is a real bank. In fact, it is the (purposefully lighthearted and humorously named) online banking division of All America Bank, which was established in 1969 as The First Mustang State Bank. Headquartered in Oklahoma City, Oklahoma, Redneck Bank is fully insured by the Federal Deposit Insurance Corporation (FDIC). The bank traces its history back to multiple Oklahoma banks owned by the Huckabay family.

To keep things simple, Redneck Bank limits its personal depository banking products to checking accounts and money market accounts. Both the checking account and money market account have very low minimum initial deposits. However, neither account has a minimum balance requirement. Both accounts also feature free online banking and a free VISA debit card. At the time of this writing, the Annual Percentage Yield (APY) of the money market account – which is a variable interest rate account – decreases once the balance exceeds $35,000. Statements for both checking and money market accounts are available electronically.

In addition to these personal deposit accounts, Redneck Bank offers various services, including free online bill pay and free bank-to-bank transfers. The bank also provides educational resources about online banking – including a series of video tutorials and an electronic guide.

Related Posts

Redneck/Allamerica Bank Just Increased Their Rate To 2.5% And 2.90% APY - 9/21/2022

Redneck/AllAmerica just hiked their interest rates again pre FED announcement. 2.50% APY for the Mega MMA and 2.9% APY for the rewards checking. A bit disappointing since the FED should be hiking rates at least .75% today but Redneck seems to hike rates at odd times and seemingly near the end of the monthly cycle which is usually around the 20th of the month. They may hike rates again next month after the FED meeting we will see. Still not a bad rate for a HUB account.

Redneck/All America Bank Raises Rates To 2.6% APY And 2.25% APY On Rewards Checking And MMMA - 8/26/2022

Redneck/All America bank does it again with a surprise rate bump with no FED meeting. The Mega Money Market account now pays 2.25% on up to $50,000 per account so $100,000 per SS# if you have an account at each bank. The rewards checking now pays 2.6% APY on up to $10,000 with 10 debit card transactions per month. Not to mention unlimited linking of external accounts for ACH transactions. ; )

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Great Bank And Service!

Don't let the name scare you. This is an AWESOME bank with the best no hassle checking interest I can find. They ALWAYS pick up the phone within 3 rings, are very polite and accommodating. To top it off they send me a birthday card every year with all the customers service reps signatures on it!

Best Online Bank

Posted by: |

I have been with Redneck Bank for the past two years and have been very pleased. Their online site seems to work well and allows money transfers within the bank and to linked accounts outside the bank. I have called their customer service and have always been treated politely. I am a happy customer of Redneck Bank.

9/21/22 **NOTE** Rate Increase To 2.9/2.5%

Posted by: |

Rewards checking: 2.9% ($10K max, 10 debits)

Mega Money Mkt:2.5% ($50K cap)

Per website.

Horrible Customer Service

When I first tried to open an account at this online bank the website gave me a pending approval notice. It said to wait 48 hours for approval. I waited 3 days and nothing. I called the customer service number and they said to fax over my drivers license and social security card to verify my identity. I did that and waited 3 more days. Not a word from Redneck Bank. I called the customer service department back and they had no record of having received my documents. They told me to resend them via fax. I resent the documents and the next day I was approved for a free checking account. I signed up for direct deposit at my place of employment and my next paycheck was supposed to be deposited to Redneck Bank. Well, my money was not there on the payday Friday and I called Redneck Bank and was told that my direct deposit was rejected due to a name mismatch error. Everything looked ok on the website and my employer had my name right. Long story short is that I had to get my employer to cut me a paper check and the money never posted to Redneck Bank. Horrible customer service and I would not advise anyone to bank with this company.

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Health
B

Data as of Q2 2022

Data displayed below is for insuring bank: All America Bank
Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #20093
Year Established1969
Employees116
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.91%
Return on Equity - YTD19.39%
Annual Interest Income$11.5MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$493.7MM$476.4MM
LoansQ2 2022vs Q2 2021$413.7MM$381.4MM
DepositsQ2 2022vs Q2 2021$415.5MM$429.1MM
Equity CapitalQ2 2022vs Q2 2021$46.7MM$46.9MM
Loan Loss AllowanceQ2 2022vs Q2 2021$6.3MM$5.6MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$5.5MM$4.3MM
Real Estate OwnedQ2 2022vs Q2 2021$299.00K$267.00K
Rates
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Always verify rates and promotions with the bank or credit union. We are not Redneck Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Redneck Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.50%*-$50kMega Money Market Account
OTHER TIERS: 0.25% $50k+

Redneck Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.90%*-$10kRedneck Rewards Checking
OTHER TIERS: 0.25% $10k+
Locations

Redneck Bank is an Internet only bank and does not have branch locations. Its headquarters is located at 200 South Rockwell Avenue - Oklahoma City, OK 73128

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 [email protected] 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.