How All America Bank’s checking accounts compare

All America Bank has two checking accounts that offer a lot of value: Ultimate Rewards and Mega Money Market® Checking. They both offer interest rates that are better than nearly every other checking account out there, even the very best online checking accounts.

The right fit depends on how you plan on using your checking account. If you make frequent withdrawals, Ultimate Rewards is better because it allows unlimited transactions and refunds up to $25 per month in out-of-network ATM fees.

Mega Money Market® Checking is better when you don’t take money out often. You can only make 6 transactions per month or else it charges a $5 fee. In exchange, you can deposit up to $50,000 and earn a high rate whereas with Ultimate Rewards, the top rate is only available for deposits up to $10,000.

The rest of the All America Bank checking accounts are not worth using. They either do not pay interest, have a high balance requirement and/or charge a monthly fee. We suspect they are a bit of an afterthought. The Ultimate Rewards or Mega Money Market® Checking accounts are so strong, why would anyone consider the others?

How All America Bank’s savings account compare

The All America Bank savings account is far from the worst account on the market today. Its interest rate is well above what you would earn at a national bank and all it takes is a $25 average balance to avoid the monthly fee. If you make more than six transfers/withdrawals per statement cycle, All America only charges $1 per excess transaction which is a lot lower than what many banks charge.

Still, while the All America Savings account interest rate is not the worst, it is also far from the best. These other savings accounts earn a much higher rate and also make it easy to avoid the monthly fee. They could be a better choice for your money.

How All America Bank’s CDs compare

The All America Bank CDs have some solid features. They offer a wide range of terms and at each term, the CDs earn an above average interest rate. You can also open each CD for a low deposit of only $500. Finally, their early withdrawal penalties are lower than what you would pay with many other banks.

But there is one major downside. You can only open the All America Bank CDs in-person by visiting one of their bank branches. Unless you live in Oklahoma, this can be difficult. Fortunately, there are other CDs available with more to offer than the ones at All America Bank, and can be opened online, from anywhere in the country.

How All America Bank’s money market accounts compare

There are some features about the All America Bank money market account which we like. It charges a low monthly fee of $5 which you can avoid by keeping only $500 in the account. If you make more than six transactions/withdrawals per statement cycle, All America Bank only charges a $1 penalty for excess transactions, which is very competitive. And the interest rates on this account are a whole lot better than what you’d receive at a national bank.

Still, there are other money market accounts which earn much higher rates. Another downside of the All America Bank’s money market account is you can only open it in-person, at one of their Oklahoma bank branches. Instead of making the trek, look into these other top money market accounts instead, which you can open online.