All America Bank Review: Checking, Savings, CDs

Rates are competitive for checking and money market accounts, but have limits. Opening minimums and overdraft fees are high.
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Written by Spencer Tierney
Senior Writer
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Edited by Sara Clarke
Assistant Assigning Editor
Fact Checked

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All America Bank

    Overall institution rating

    3.5

    NerdWallet rating 
    The bottom line:

    High checking rates and live customer support are two features that the Oklahoma City-based All America Bank highlights on its website. Established in 1969, All America Bank has a focus on community banking, especially its financing for farmers, and offers both an all-digital banking experience as well as in-person banking at a half-dozen branches in central and southwestern Oklahoma.

    The bank’s rewards checking has an eye-catching rate but requires a minimum number of monthly debit card transactions and opting into e-statements. The rate only applies to balances up to $15,000; higher balances receive a lower rate. There’s also an online money market checking account with a stellar rate, but it limits free monthly withdrawals to six.

    Best for: Digital banking customers nationwide focused on high-yield checking accounts who don’t mind a few hoops to earn the high rate and Oklahoma residents who want the same accounts plus branch access.

    Pros

    • No monthly fees on some checking accounts.
    • ATM fee rebates.
    • Competitive rewards checking account.

    Cons

    • Expensive overdraft fee.
    • High minimum opening deposits for some checking accounts.
    • Requirements must be met to earn strong checking rate.

    How does All America Bank compare?

    Chime Checking Account
    Chime Checking Account

    Deposits are FDIC Insured

    NerdWallet rating 

    5.0

    /5
    NerdWallet rating 

    5.0

    /5
    NerdWallet rating 

    4.5

    /5

    Monthly fee 

    $0

    Monthly fee 

    $0

    Monthly fee 

    $0

    APY 

    0.50%

    With $0 min. balance for APY

    APY 

    N/A

    APY 

    N/A

    Bonus 

    $300

    Earn up to $300 with direct deposit. Terms apply.

    Bonus 

    $360

    Up to $360 per year. See website for details.

    Bonus 

    N/A

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    Methodology

    NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, banking experience and overdraft fees. Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing technology, customer service and innovation. The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.