AmericaNet Bank Offers 5.25% APY for their Best Reward Checking
Happy Valentines Day! AmericaNet Bank is pushing for their best reward checking account that yields 5.25% for balances through $25000 and 2.25% for the amounts above this cap.
ATM fees worldwide are refundable if monthly requirements are met. The account calls for at least 10 purchases using the check card on a monthly basis and opt for electronic statements. The rate drops to 0.25% if these criteria are not met.
The minimum initial deposit is $1. The account does not impose any monthly fees or a minimum monthly balance.
Any interested individual from any state can complete an application online. The entire application process just takes 1-5 days to complete depending how the accounts are funded. Money can be sent via ACH or through mail as check.
The AmericaNet Bank is online banking division of All American Bank. The bank is headquartered in Oklahoma City and has about 40 employees and a declared asset of $156 million with deposit of about $76 million.
Bankrate.com and BauerFinancial issued 4 star ratings when they reviewed the financial soundness of the bank. These were based on their September 2008 data.
The bank is FDIC insured since 1969.
You can be earning hundreds or even thousands of dollars a year in CD investments, money market, and cash back credit cards. Subscribe to our free newsletter below to learn how to maximize your rewards, improve your credit, and make money!










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.
Comment by Pilm — May 6, 2010 @ 10:17 am