Redneck Bank Review July 2024: Seriously high deposit rates with a side of humor

Redneck Bank is the online banking division of All America Bank, which is a community bank that was founded in 1969 and is headquartered in Mustang, Oklahoma.

All rates and fees are current as of July 23, 2024, and are subject to change. 

Redneck Bank

Checking accounts:	Starting at $0 per month
Money market account:	Open with $500

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Pros and Cons

Pros

• Highly competitive interest rates
• ATM fee reimbursement
• No monthly fees

Cons

• Limited account offerings
• $500 minimum deposit required to open an account
• No physical locations

Who is Redneck Bank good for?

Redneck Bank is a solid option for anyone looking for an online-only option for a high-yield checking account or an MMA.

Who shouldn’t use Redneck Bank?

If you want to do all your banking at one institution and you need more than a checking account and an MMA, you’ll want to look elsewhere. Also, if you’re looking to do any in-person banking, Redneck isn’t the bank for you.

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Redneck Bank rates and products

Currently, Redneck Bank offers only two accounts: a free checking account and a high-yield money market account. The entire account opening process takes 7–10 business days, depending on how the account is funded.

Checking accounts 

The Redneck Bank Rewards Checkin’ account comes with a free Mastercard debit card, overdraft protection, and more. Redneck Bank also refunds up to $25 of foreign ATM fees each monthly statement cycle, although there’s no checking account sign-on bonus. To receive the 5.15% APY on balances of up to $15,000, users must make at least 10 qualifying debit card purchases per month and receive statements electronically. The account will earn 0.25% APY if these requirements are unmet.

Money market accounts 

The Mega Money Market offers a 4.75% APY, in line with some of the best MMAs on the market right now. This account also comes with a free Mastercard debit card and access to thousands of free ATMs worldwide. Account holders are allowed up to six free debits per month. 

Other services Redneck Bank offers 

The only services Redneck Bank offers are their online MMA and their free checking account. It is the Internet banking division of All America Bank, which is a full-service bank with physical branches in Oklahoma.

Online banking

As a fully online bank, customers can open accounts, check balances, pay bills, transfer money, and make deposits online or through the mobile app at any time. 

The Redneck Bank platform and customer support 

Redneck Bank offers online banking that allows customers to manage their accounts from anywhere. The bank also offers a free mobile app that has a 3.9-star rating in the Apple Store and a 2.9-star rating on Google Play.

If you have questions or concerns, customer service can be reached by phone Monday through Friday between 8 a.m. and 5 p.m. Central time. You can also use the secure message feature by logging into your online banking account.  

Is Redneck Bank secure?

Neither Redneck Bank nor its parent company, All America Bank, have been part of any recent data breaches. Redneck uses secure sockets layer (SSL) encryption and a secure access code when using a new device. 

They are fully Federal Deposit Insurance Corp. (FDIC)-insured, so your money is safe in the rare case of a bank failure.

Redneck Bank user reviews

Redneck Bank has a four-star rating on Deposit Accounts out of 26 reviews. Positive reviews mention helpful interactions with customer service and high APYs. In contrast, complaints mentioned a basic and antiquated website design and app, issues setting up accounts, and the checking account APY only being available on accounts of less than $15,000.

Compare Redneck Bank alternatives

Redneck Bank	SoFi	Ally Bank
Top savings APY	Top savings APY	Top savings APY
4.75%	4.60%	4.20%
Top checking APY	Top checking APY	Top checking APY
5.15%	0.50%	0.25%
Top CD APY	Top CD APY	Top CD APY
N/A	N/A	4.50%
Other services	Other services	Other services
None	Investments, student loans, personal loans, mortgages, insurance, and business solutions	Credit cards, investments, personal loans, home loans
Learn more	Learn more	Learn more
View offer a Bankrate	View offer at SoFi	View offer at Fiona

Is Redneck Bank right for you?

If you’re looking for an online MMA and/or checking account with great yields, Redneck Bank could be a good choice for you. However, if you want to do all your banking in one place, or you’d like to be able to do banking in person, you’ll want to look elsewhere.

Frequently asked questions