Ready to Bank with Redneck?

redneckbankcardTo add some offbeat news to the current financial situation, I have decided to write about an interesting bank that has a unique marketing strategy, as well as offering good value for its customers. The name of the bank is…Redneck Bank – where bankin’s funner. Yes, the bank is FDIC insured and is part of the Bank of the Wichitas, which was established in 1913 and currently has a 4-star rating. The bank offers a fairly decent APY on their main checking account – 5.25% for up to $25,000 (2.25% for above). Considering that most savings account interest rates are plummeting, this rate is very respectable.

Once you sign up, you get the checkcard with the horse picture and the slogan “where bankin’s funner” on it or a more standard looking card.  ATM fees are refunded if the following monthly requirements are met: minimum 10 VISA CheckCard purchases as well as statements are delivered solely in electronic format. If these are not met, the rate falls to 0.25%. There are no minimum balance requirements and no monthly service charges. If you require less services, the bank offers a ‘mega money market’ account for 3.10%  APY and there is also an account option for people with bad or no credit. Details of all the accounts are found in the deposit account agreement.

Although this was surely done to attract attention, I’m not certain that lots of consumers will be comfortable with opening an online account at the Redneck Bank. Otherwise, as the horse on the website says, you may consider to “buck yer old bank” and join this one.