bank rates

2 High-Yield Checking Deals ‘Sold Out’

Dagnabbit.

Redneck Bank and AmericaNet Bank will no longer offer 3.75% APY high-yield checkingCity slickers who haven’t already ponied up their cash won’t be able to take advantage of great rewards checking offered by tiny Redneck Bank and its sister AmericaNet Bank.

Both online banks have “sold out” signs over their rewards checking accounts, which had offered a 3.75% APY.

Their money market accounts, which had a 1.75% APY, are also closed to new customers.

The overwhelming national response in an era of sagging interest rates prompted the banks to pull the plug on the offers because they couldn’t keep up with demand, says an official with Bank of the Wichitas, the parent of Redneck Bank, in Snyder, Okla.

Redneck Bank, AmerciaNet Bank and Evantage Bank are all owned by the Huckabays, whose family has been an institution in Oklahoma banking since the 1930s.

Only Evantage, the online division of Southwest State Bank in Sentinel, Okla, is still offering its blockbuster rewards checking and money market rates.

That makes it tops in the nation for money market rates and in second place among the top nationally available high-yield checking accounts, behind Liberty National Bank of Lawton, Okla, which offers a 4.11% APY.

At Redneck and AmericaNet — the online division of All America Bank in Mustang, Okla. — the rates are still being offered to existing customers, but not to new clients, and it’s not clear if the high rates will eventually be available for new applicants again.

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