Comments on: AmericaNet Changes Checking, MMA Rules

By: Lucas

Lucas — Fri, 24 Apr 2009 03:10:13 +0000

AmericaNet Bank, Evantage Bank and Redneck Bank are all a scam. They’re all three run by Huckabay of Arkansas, and all are falsely advertising the 3% and 5% rates on the Checking and MMA accounts. I just signed up with AmericaNet, and along with my account number I received a notice saying their interest rates are actually 4%, and 2%. Worse yet, on the amount over $10k in the checking account, the rate is dropping from a respectable 2.25% to measly 1%. These guys are dropping their rates fast but are probably happy to mislead new customers.
Now I have an extra inquiry on the credit report for nothing.

By: AmericaNet Customer

AmericaNet Customer — Fri, 24 Apr 2009 00:29:43 +0000

Rates are being lowered in May to 4.00 APY.

By: Annette Loe

Annette Loe — Mon, 06 Apr 2009 14:24:18 +0000

After reading all this I am not putting my money in Red Neck Bank MMA. I’ll stick with DollarSavingsDirect even if it is a lower interest rate. Thanks for the info!

By: RateRunner

RateRunner — Wed, 01 Apr 2009 16:36:00 +0000

AmeicaNet says yes, it’s insured.

By: IWonder

IWonder — Tue, 31 Mar 2009 19:12:44 +0000

Is there anybody noticed the tiny statement on the bottom of their website, which says:” AmericaNet Bank® is participating in the FDIC’s Transaction Account Guarantee Program. Under this program, all non-interest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount of the account. This coverage is in addition to, and separate from, FDIC deposit coverage under the FDIC’s general deposit insurance rules.” Are you sure the Rewards Checking is still FDIC insuranced?

By: professor

professor — Sun, 29 Mar 2009 06:28:23 +0000

these low rates are sickening
bernacke should join paulson, rubin and geithner in prison

By: Dollar Bill

Dollar Bill — Sun, 29 Mar 2009 03:12:26 +0000

Also, you should know this bank pulls a hard inquiry on your credit bureau! I recommend dealing with a different bank!

By: Dollar Bill

Dollar Bill — Sun, 29 Mar 2009 03:10:37 +0000

BEWARE of AmericaNet Bank. Be sure to read the fine print BEFORE you apply. They blocked me from being able to transfer money into your account until it has been open for 30 days AND you have made 10 debit card purchases.

So, when I tried to send them a deposit in the form of a check by US Mail, they have STILL not deposited it to my account after 10 days. VERY VERY VERY VERY VERY SHADY! Beware!

By: reed

reed — Fri, 27 Mar 2009 02:11:40 +0000

is america net bank fdic insured up to 250k? thanks reed

By: G TX

G TX — Sat, 21 Mar 2009 16:26:35 +0000

I agree with bloggingbanks, 5% on 10K is not competitive. I asked to close my account as soon as the news hit and guess what… I am still waiting to close the account. Be careful of doing business with Americanet and its other affiliated banks like redneckbank,etc

By: BloggingBanks

BloggingBanks — Sat, 21 Mar 2009 13:51:10 +0000

There’s so many rewards checking accounts out there, with higher interest rates and higher limits that AmericaNet Bank will surely lose customers from their moves.

By: Jigga

Jigga — Sat, 21 Mar 2009 11:19:47 +0000

AmericaNet’s new account signup had documents missing that they expected you to agree to by checking a box during the registration. They were missing for 3-4 days, however it took them less than 24 hours to correct the errors after I emailed them about it.

Bank of Ripley told me they only accept customers in Tennessee for their rewards checking accounts. They could save their customer service agents some trouble by posting that bit of info on their website.

By: Daniel

Daniel — Fri, 20 Mar 2009 17:57:00 +0000

5.26 % up to $ 25,000 is what I earn at Bank of Ripley TN http://www.bankofripley.com I have been earning 5.26 % on $ 25,000 every month for one year. Excellent Customer service, No Gotcha’s, No hassles, the requirements are (1) set up a checking account with them (2) make 10 debit card transactions per month (3) receive electronic statement online. The only drawback is the only way to deposit money is by Mailing a check to them by snail mail (regular mail)…that is, you cannot deposit money electronically.
I have no complaints about Bank of Ripley, and plan to keep my $ 25,000 there as long as they keep offering this hi interest.

By: mark

mark — Fri, 20 Mar 2009 17:37:28 +0000

is there anything to stop my wife and I opening 2 accounts. one in her name and one in mine, both for $10,000. That would be one way to get the higher interest rate on almost the same amount as before.