AmericaNet Bank Rewards Checking & MMA
Posted by Check Bouncer under [ AmericaNet Bank is offering a rewards checking account with 4.00% APY interest on balances up to $10,000. This interest checking rate is current as of 8/26/2009.
In order to earn this rate, you must fulfill the following:
- Make 10 AmericaNet Bank VISA CheckCard sales transactions
- Opt in to electronic statements
The AmericaNet rewards checking account also features:
- Balances over $10,000 will earn 1.00%
- If requirements are not met the interest rate drops to .25%
- FREE Online Banking
- FREE Checking
- FREE AmericaNet Bank® VISA® CheckCard
- FREE Customer Service
- FREE Daily Email Notification if Overdrawn
- FREE ATM Transactions Worldwide
In addition to the checking account, AmericaNet also offers a mega money market account with 2.00% APY interest on balances up to $35,000.
Some additional details of this account include:
- Earns interest of 2.00% APY calculated on your daily balance of up to $35,000.
- Amounts over $35,000 earn 1.00% APY
- Includes 6 FREE withdrawals per month
- $5 fee for each additional withdrawal
AmericaNet Bank is a division of All America Bank, a small FDIC-Insured bank headquartered in Oklahoma City, OK. The bank has deposits of $72.1 million, and operates 2 branches in 1 state. However, this division has no branches – it only interacts with consumers online, by phone, or by mail. The company reports that it has 42 employees. The bank was established in December, 1969 and has been a member of the FDIC since December, 1969.
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2 Comments on “AmericaNet Bank Rewards Checking & MMA”
I’m getting really competitive rates with a product called easyGROW Checking at First Bank & Trust. You can go to http://www.easyGROWchecking.com for the info (including the current interest rate); but to summarize, it is a free high-yield account that also offers ATM fee refunds when I meet the three qualifications: using my debit card at least ten times, receiving e-Statements, and having a least one direct deposit or automatic payment each cycle. I do all of those things anyway, so it’s been really easy for me to qualify…and they send me an email each month to let me know if I met the qualifications. I have to admit, I love not having to worry about whether or not an ATM is on my network, and the interest is already starting to add up. It only takes $100 deposit to open the account, and there is no minimum balance.
This is for anyone using or considering AmericaNet Bank, be very very careful! I put $5000 in an AmericaNet Bank savings account because they offered a 2% rate. Every quarter I’d go online and check my account. Well, come to find, after my one year anniversary with AmericaNet Bank they began to charge a $10/month fee. AmericaNet Bank did not provide any notice whatsoever when they started helping themselves to my money. It wasn’t until I logged on recently for my quarterly account review I found $20 missing. After invesitigation I found that after one year, if you don’t add more money, your account is considered dormant, and AmericaNet Bank starts penalizing your account $10/month every month until you add more money. Almost seems like extortion to me! I’ve used at least a dozen online Savings accounts and have never had money drained from my account like AmericaNet Bank is doing! No bank has ever penalized me for leaving my money in their account! But AmericaNet Bank does! Beware, beware, beware! AmericaNet Bank is a sham and ripoff.