Redneck Bank Review | The Motley Fool (2024)

In an industry known for its professionalism and sobriety, Redneck Bank stands out among financial institutions like a pecan pie at a salad bar. Quirky, down to earth, and light hearted, with generous APYs, Redneck Bank can cook up either a high-yield checking account or a money market account. If you want to have some fun with your banking, read on to learn what makes Redneck Bank unique and what it has to offer.

Redneck Bank Review | The Motley Fool (1)

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Redneck Bank

Bottom Line

Redneck Bank is perfect for those who want a high-yield checking or money market account and can meet the requirements to get the highest tier of APY. It's also ideal for those who prefer online or mobile banking. Its Southern hospitality, however, doesn't extend beyond checking accounts and MMAs, so it may not charm those who want savings accounts or certificates of deposit (CDs).


  • High APYs
  • No accounts fees
  • $25 monthly foreign ATM fee reimbursem*nt
  • Fun, quirky banking experience


  • $500 minimum opening deposit
  • Tiered APY for checking accounts
  • Limitation on online bill payments
  • No physical branches
  • Dormant account fee ($10 per billing cycle)

Redneck Bank checking account review

Redneck Bank offers one checking account, which is perhaps one of the most lucrative interest-bearing checking accounts you'll find.

Redneck Rewards® Checkin' Account

Redneck Rewards® Checkin' Account is a free online account that earns a whopping 5.30% APY on balances under $15,000. That's right -- this is a checking account that can potentially pay more interest than most savings accounts.

But there is a catch -- to be eligible for the 5.30% APY, you must make 10 qualifying purchases per month on your Redneck Bank Mastercard debit card. If you don't, the account will earn 0.25%. Additionally, that's 5.30% on the first $15,000 -- any dollar amount above that will earn an APY of 0.50%.

The account has no monthly fees, nor minimum balance requirements, though you'll need a minimum deposit of $500 to open an account. Bear in mind you can make 10 online bill payment transactions per month for free, but any more than that and you'll pay $0.50 per transaction. Finally, Redneck Bank will refund up to $25 in foreign ATM fees per monthly statement as a lump sum -- a nice perk if you need to withdraw money abroad.

Compare checking accounts

Redneck Bank's interest-bearing checking account takes the cake for high APY and no monthly fees. But if you're looking for something different, check out our reviews on some of the best checking accounts.

Redneck Bank money market account review

If you liked the Redneck Bank version of a checking account, you're going to like its money market account, too. High APYs, zero fees, and a debit card you can use at over 1,000 ATMs worldwide -- let's take a closer look.

Redneck Mega Money Market® Account

The Redneck Mega Money Market® Account has a competitive APY of 5.05% on deposits up to $100,000, plus 0.50% on any dollar amount above that. Like its checking account, you need to meet some requirements to earn 5.05%, though in this case the criteria is simply this -- elect to receive statements electronically. If you can do that, you'll earn high interest.

The Redneck Mega Money Market® Account has no monthly fees and no minimum balances, but you'll need to make a $500 initial deposit to open an account. Each month, you're allowed six free withdrawals or transfers ($5 per transaction after that) and 10 free online bill pay transactions ($0.50 after that). The account comes with a Mastercard debit card, which you can also add to digital payment apps like Google, Apple, and Samsung Pay.

Redneck Bank customer service and experience

Redneck Bank doesn't have many reviews on popular third-party sites, like Trustpilot, nor does it have a Better Business Bureau (BBB) profile. That's not too surprising -- small banks don't often have as much coverage -- but if customer service is important to you, you won't find much in the way of reviews.

That said, you'll find numerous reviews for the Redneck Bank app on Apple Store and Google Play. While the reviews for the apps are generally unfavorable (it has a 3.8 rating on Apple and 2.9 on Google), many reviewers actually make a point to call out how much they love Redneck Bank as an institution, even if the banking app is glitchy and crashes frequently.

Redneck Bank relationship benefits

As an online bank that doesn't charge account fees, Redneck Bank doesn't have much in the way of relationship benefits. Relationship benefits are more common among brick-and-mortar banks that waive fees for clients who have multiple accounts or open premium accounts with large deposits.

Alternatives to Redneck Bank

Redneck Bank is a lighthearted, fun institution, but it doesn't have every kind of savings product, like high-yield savings accounts and CDs, and for certain high-net worth individuals, it might not offer the highest APY for your savings. If Redneck Bank just ain't right for you, here are a few alternatives to consider.

Vio Bank

Vio Bank is an online bank that offers no fees on savings accounts and high yields on CDs. Its APYs are competitive and the low minimum deposits make it ideal for savers who don't have enough to meet high requirements elsewhere. Unlike Redneck Bank, it doesn't offer a checking account, but it does have CDs, savings accounts, and money market accounts.

Capital One

Capital One is a mostly digital bank with some physical locations. It offers a varied selection of savings products, from savings accounts to CDs, plus it occasionally has lucrative welcome bonuses for new account holders. It's known for its excellent service, robust banking apps, and no account fees or balance minimums.

Is Redneck Bank right for you?

Redneck Bank is a good fit if you're looking for a high-yield checking account or money market account and can meet the criteria to get the highest APY. If you're concerned about your money's safety, it's FDIC insured. It's also perfect if you prefer online banking and don't need brick-and-mortar stores.

Our bank and credit union methodology

Our methodology for scoring banks and credit unions revolves around evaluating key aspects such as annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks.

These criteria are weighted differently across various account types, ensuring a comprehensive assessment that reflects the competitive landscape and economic conditions.

We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased by advertiser influence. This robust evaluation process helps us generate balanced, reliable best-of lists that guide consumers to top financial products.

Learn more about how The Motley Fool Ascent rates bank accounts.


  • Yes, Redneck Bank is a legitimate financial institution that's FDIC insured. The bank is a part of All America Bank, which was founded in 1969 and based in Mustang, Oklahoma.

  • Yes, you can transfer up to $5,000 per day out of your Redneck Bank account (some restrictions apply).

Redneck Bank Review | The Motley Fool (2024)


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