AmericaNet Bank’s Rewards Checking account is paying an incredible 5.25% APY on average daily balances up to $25,000. (Anything over that earns 2.25%.)
At a time when it’s tough to find savings or money market accounts paying more than 3%, this looks like it could be a very smart place to park your short-term savings.
The only catch we can see is that you must make at least 10 check card purchases per billing cycle (approximately every 30 days) to qualify for the 5.25% APY.
But how hard is that? And this checking account allows you to use other banks ATMs for free. How convenient is that?
AmericaNet is the Internet banking division of All American Bank, which has a couple of branches in Oklahoma City and Mustang, Okla.