AmericaNet Bank pushes for their Mega Money Market account that earns 2.00% APY for balances through $35,000. Funds above the set cap earn 1.00% APY.

According to the promo page, the current money market rates can be enjoyed without having to worry about any minimum balance requirements. The bank does not impose and monthly service fees for this money market account.

The money market account comes with check writing privileges and an ATM card for convenience. Like other money market deals offered in the market today, third party withdrawal is also limited to six per cycle.

Any withdrawal which will be in excess of the free per cycle allotments will be charged $5 each. The monthly statement cycle is marked by the third Wednesday of every month.

Other perks which come with this money market account are free use of the online banking facility, free email to notify if the account is overdrawn, and free customer service to help you monitor and manage your account.

Interested individuals may apply online. It seems that everything can be completed online since it says on the page that there is no need to sign, mail, or fax anything. The bank limits one Mega money market account per individual.

Funding an account can be done by mailing a check, via wire, or by transferring money from your account with other banks. The bank may require confirmation of trial deposits just to confirm your account.

The bank will require your social security number and your driver’s license number. Most application will have instant approval or declination. Some maybe delayed in case the bank will need more information about you.

AmericaNet Bank operates under the umbrella of All America Bank which is based in Oklahoma City, Oklahoma where they operate two branches. All America Bank has about $72.1 million in deposit.

The AmericanNet Bank only operates online and interacts with their customer base only through mail, phone, or over the internet. The online division does everything with its 42-member staff.

All America Bank was founded in 1969. It is indexed with the FDIC.