Popular Posts

Redneck Bank Stops Accepting New Applications

POSTED ON BY

I'm afraid it's another example of a high-yield account becoming overloaded. Redneck Bank has stopped accepting new applications. If you click on the open your account button at RedneckBank.com, it forwards you to a PDF document where they mention that they have temporarily stopped accepting new accounts because their phones are "goin' crazy." They've received a lot of publicity, not only from blogs and forums, but also from newspapers and Bankrate. Bankrate has been listing Redneck Bank's Mega Money Market Account for the last couple of weeks.

Redneck's sister banks, AmericaNet Bank and Evantage Bank, both still seem to be accepting new applications as of 4/08/09. The "open-your-account" links at those sites take you to the online applications where you can apply for both the Rewards Checking and the Mega Money Market. But we may soon be seeing changes from those banks. A reader just reported being told by an Evantage Bank CSR that they're cutting the reward checking rate starting 4/16/09. I'm trying to get details from the CSR to find out the new rate. Please leave a comment, if you've received any info on this.

Update 4/10/09: I just received the following email from an AmericaNet bank CSR:
Our Rewards checking rate will not be changing from the 5.25, and we have not had any talk of our rate changing

All three banks lowered the balance caps last month. For the reward checking account, the balance that qualifies for the 5.25% APY fell from $25K to $10K. For the Mega Money Market account, the account changed so that only the first $35K qualifies for the 3.10% APY.

As I described in this post, RedneckBank.com, Evantage.com and AmericaNet.com are internet divisions of three Oklahoma banks which are all owned by the Huckabay family. The three banks have separate FDIC charters, but they've been keeping these accounts very similar. So we'll have to see if this continues.

For details about these banks and accounts, please refer to the following posts:
Thanks to the readers who mentioned these account changes in the comments.

Other Reward Checking Accounts

To find reward checking accounts in other areas of the nation or to learn more about these accounts, please refer to my High Yield Checking website.
Related Pages: All America Bank, Wichita Falls, Oklahoma City, Redneck Bank


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.