Update 10/23/10: The top rate has fallen to 3.51% APY for balances up to $10K. Refer to the bottom of the post for the account history.
Community National Bank of the Lakeway Area is offering a reward checking account called Kasasa Cash. It has the following rates and features if certain monthly requirements are met:
- 3.51% APY on balances up to $10,000
- 0.50% APY on portion of balance over $10,000
- Refunds ATM fees nationwide of up to 10 transactions per month
- 0.10% base rate if monthly requirements are not met
The monthly requirements include:
- 10 signature-based debit card purchases
- 1 automatic payment or direct deposit
- Receive e-statements
Additional features of the account regardless of the monthly requirements include:
- $25 minimum initial deposit
- No minimum balance requirement
- No monthly service charge
- Free online Bill Pay
Update 9/27/09: The "Apply Now" button on the bank's Kasasa Checking page takes you to an online application at Kasasa.com. It appears only Tennessee zip codes are now accepted in the application.
It's a small bank with two branches located in Morristown and Jefferson City. The bank has been FDIC insured since 2003 (FDIC Certificate # 57445).
Other Reward Checking Accounts
To find reward checking accounts in other areas of the nation or to learn more about these accounts, please refer to my High Yield Checking website.
- 10/01/10: 3.51% APY up to $10K; 0.50% over; 0.10% base; 12 debit card (Kasasa Cash)
- 12/31/09: 3.76% APY up to $25K; 0.76% over; 0.10% base
- 09/27/09: Availability reduced to Tennessee.
- 09/04/09: Availability reduced to SE part of US.
- 07/04/09: The reward checking account is now available nationwide.
- 06/02/09: 4.51% APY up to $25K; 1.01% over; 0.25% base; 10 debit card (Community Rewards Checking)
Edit 7/18/09: Updated ATM fee info