AllAmerica and Redneck Bank: 4.25% APY Money Market, 4.50% Rewards Checking

Update: Oops, published the last update to January 2022! Rates increased to 4.25% APY on up to $75,000 for Mega Money Market and 4.50% APY on up to $15,000 for Rewards Checking (debit card usage and other requirements apply).

AllAmerica and Redneck Bank: 4.25% APY Money Market, 4.50% Rewards Checking All America Bank and Redneck Bank are sister internet banks that offer the same types of accounts (with different marketing shtick). Looking back in my archives, I actually opened an account with them way back in 2009 (later closed), as they are intermittently competitive with interest rates. Looks like they are looking to attract deposits again, most recently raising both their interest rates and their balance caps.

Mega Money Market

4.25% APY on up to $75,000. Amounts over $75,000 earn 0.50% APY.
No debit card transactions required.
$500 minimum to open an account. No ongoing minimum balance requirement.
Must agree to receive online statements only.
Limit of one Mega Money market® account allowed per individual. (I believe you can have one account at each bank, though.)
Technically a money market checking account which means it includes a debit card (you can pay for checks too) but is still limited to six withdrawals per month. This limits its functionality to more like a savings account.

Rewards Checking

4.50% APY on up to $15,000. Amounts over $15,000 earn 0.50% APY.
10 debit card transactions required per monthly statement cycle. Monthly statement cycle ends on the 20th of each month. If the 20th falls on a Saturday, the cycle will end on Friday the 19th. If the 20th falls on a Sunday, the cycle will end on Monday the 21st. ATM and ACH transfers don’t count.
$500 minimum to open an account online. No ongoing minimum balance requirement.
Must agree to receive online statements only.
Limit of two (2) Rewards Checking Accounts allowed per individual. (I believe you can have two accounts at each bank.)
A full-featured checking account with online billpay, ATM rebates (up to $25 per month), and mobile check deposit abilities.

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AllAmerica and Redneck Bank: 4.25% APY Money Market, 4.50% Rewards Checking from My Money Blog.