A smart reader noted that Redneck Bank is paying 3.10% on its money market account.
And that’s true.
It’s owned by Todd and Wade Huckabay, two brothers from a family with a long history in Oklahoma banking and rare sense of humor for the financial industry.
The Huckabays control Bank of the Wichitas — and its online division, Redneck Bank — and All America Bank — and its online division AmericaNet Bank, which we’ve written about before.
Both online banks offer the same good interest rates on checking and money market accounts that attracted us to AmericaNet Bank. Deposits are accepted from all 50 states and, as Redneck says, there’s “nuttin to sign, fax or mail” this is “100% internet bankin’.”
To quickly recap, you can earn:
5.25% APY on the first $10,000 in a Redneck Rewards Checking account (and 2.25% on balances above $10,000) by making 10 check card purchases per month.
3.10% APY on the first $35,000 of a Mega Money Market account, with no monthly fee and up to five free withdrawals a month.
An added bonus is Redneck’s hilarious Web site.
Customers click on an outhouse to access their accounts, and the door swings open for them to login. You can tell Redneck is a classy operation because there’s a roll of toilet paper inside — not an old catalogue.
Don’t miss our “Worst Rate of the Week” on Bankaholic’s Personal Finance Blog. We’re calling out a big bank that’s paying so little on its money market accounts that we’re defaming poultry by calling it a turkey. (You can always find our Personal Finance Blog by clicking on the “finance” tab at the top of this page.)