Regional Missouri Bank (RMB) has recently increased the APY for its Kasasa Cash account to an impressive 7.00% on qualifying balances up to $10k.
Additionally, the Kasasa Saver account now offers a 2.00% APY on qualifying balances up to $25k.
This offer is particularly aimed at residents in 22 North Central Missouri counties.
Regional Missouri Bank Kasasa Cash and Kasasa Saver Promotion
RMB’s Kasasa Cash account now boasts a 7.00% APY for balances up to $10k. Balances over $10k earn a 0.10% APY, while non-qualifying balances garner a 0.05% APY.
The Kasasa Saver account, in tandem, offers a 2.00% APY on qualifying balances up to $25k, and a 0.30% APY on higher balances.
Non-qualifying balances for the Kasasa Saver account earn a 0.05% APY.
These rates were last updated on January 27, 2024.
Regional Missouri Bank Kasasa Cash and Kasasa Saver Offer Details
Monthly Qualification Requirements
The Kasasa Cash account has standard monthly qualifications, including:
- At least 12 debit card purchases.
- At least one direct deposit, ACH credit, or ACH payment transaction.
- Enrollment in and agreement to receive e-Statements.
Account Features and Opening Process
- The Kasasa Cash account can be opened with a minimum deposit of $50 and has no minimum balance requirement or monthly service fee.
- Meeting the qualifications also entitles the account holder to up to $25 per month in nationwide ATM fee reimbursements.
- The account provides unlimited check writing and a free Mastercard® debit card upon opening.
- Each Social Security number is limited to one Kasasa Cash account.
- Additionally, holding a Kasasa Cash or Kasasa Cash Back account is necessary to open a Kasasa Saver account.
- The Kasasa Saver account complements the Kasasa Cash account by automatically transferring earned rewards each month.
- It also can be opened with a low $5 minimum deposit and has no monthly maintenance fee.
Annual Earnings Potential
The combined potential annual earnings of the Kasasa Cash and Kasasa Saver accounts can approximate $1,200, which is about 3.53% APY on a total balance of $35k.
Kasasa Cash Back Option
For those maintaining a balance under $1,700, RMB’s Kasasa Cash Back account, offering 5.00% cash back on debit card purchases (limited to the first $200 of monthly purchases), might be a more suitable option.
Kasasa Brand Overview
Kasasa, Ltd., developed Kasasa Cash as a type of Reward Checking Account (RCA), aiming to provide high annual percentage yields and mutual benefits for debit card usage.
Availability and Account Opening
RMB offers the Kasasa product line to eligible U.S. citizens and resident aliens in specific Missouri counties. Accounts can be opened online or at any of RMB’s nine Missouri branches.
With its roots dating back to 1908, RMB has a rich history of community banking and expansion. Currently, it’s the 65th largest bank headquartered in Missouri, boasting assets over $496 million and serving more than 19,000 customer accounts.
How Kasasa Cash Compares
In its market area, RMB’s Kasasa Cash account leads with the highest APY for High Yield Rewards Checking Accounts, surpassing offers from other banks and credit unions.
Frequently Asked Questions
Q1: What is the maximum balance for earning 7.00% APY in the Kasasa Cash account?
A1: The 7.00% APY is applicable on qualifying balances up to $10k.
Q2: Can anyone nationwide open a Kasasa Cash or Kasasa Saver account with RMB?
A2: These accounts are specifically available to residents of 22 North Central Missouri counties.
Q3: What are the requirements to earn the high APY on the Kasasa Cash account?
A3: The requirements include making at least 12 debit card purchases, conducting at least one direct deposit, ACH credit, or ACH payment transaction, and agreeing to receive e-Statements.
Q4: Are there any fees or minimum balance requirements for the Kasasa Cash account?
A4: There is no minimum balance requirement or monthly service fee for the Kasasa Cash account.
Q5: What is the APY for the Kasasa Saver account?
A5: The Kasasa Saver account offers a 2.00% APY on qualifying balances up to $25k.
Q6: How does the Kasasa Cash Back account work?
A6: The Kasasa Cash Back account provides 5.00% cash back