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New Kasasa Cash and Saver Accounts at Bank of the Bluegrass and Trust Co.

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Bank of the Bluegrass and Trust Company

Bank of the Bluegrass and Trust Co. has recently started to offer Kasasa accounts with an online application, and they are currently allowing people in any state to apply. The reward checking account is called Kasasa Cash, and the linked savings account is called Kasasa Saver. There’s also a cash-back checking account called Kasasa Cash Back in which customers can earn 3% cash back on purchases up to $250 monthly. This cash-back account is best suited for those who plan to keep small balances in their accounts. The Kasasa Cash and Saver accounts are the ones that would be most appealing to savers. Below is a summary of these Cash and Saver accounts (rates as of 11/5/2013):

Kasasa Cash rates and ATM fee refunds if monthly requirements are met:

  • 2.01% APY on balances up to $15,000
  • 0.25% APY on portion of balance above $15,000
  • 0.01% APY on entire balance if requirements are not met
  • Refunds of up to $20 on ATM fees nationwide

Kasasa Saver rates if monthly requirements are met:

  • 1.01% APY on balances up to $10,000
  • 0.255 APY on portion of balance above $10,000
  • 0.01% APY on entire balance if requirements are not met

Monthly requirements:

  • 12 debit card purchases
  • Be enrolled and log in to Internet Banking at least once
  • Accept E-Statements
DETAILSINSTITUTIONAPYMINMAXPRODUCT
Bank of the Bluegrass and Trust Company2.01%-$15kKasasa Cash
Bank of the Bluegrass and Trust Company1.01%-$10kKasasa Saver
Accounts mentioned in this post. Rates as of August 29, 2014

The Saver can only be opened with the Kasasa Cash or Kasasa Cash Back account. Both the Cash and Saver accounts have no minimum balance requirements and no monthly service charge.

Availability

Update 11/10/13: A reader has reported that the bank is now only accepting residents from a few counties in Kentucky.

On the bank’s Kasasa Accounts page, there’s an “open an account now” button. This takes you to an application that allows you to apply for either the Kasasa Cash or Kasasa Cash Back account. You have to enter your zip code, but it currently accepts any zip code. I called the bank and confirmed they are currently accepting people from any state. Please note that small banks often change eligibility rules.

Bank Overview

Bank of the Bluegrass branches are located in Lexington, Kentucky.

The bank has an overall health grade at DepositAccounts.com of a B+ with a Texas ratio of 18.65% (average) based on June 2013 data. Please refer to our financial overview of Bank of the Bluegrass for more details. The bank has been a FDIC member since 1973 (FDIC Certificate # 21161).

How This Reward Checking Compares

For a $15K to $25K balance cap, there are two banks that offer nationally available reward checking accounts with higher rates. They are Lee Bank which offers 2.50% APY for balances up to $15K and Security Bank which offers 2.05% APY for balances up to $25K. There are several all-access credit unions that offer rates from 2.01% to 3.00% APY for balances up to $15K or $20K. Rates and balance caps are accurate as of 11/5/2013.

To find reward checking accounts available in your state, please refer to our reward checking table. You can also use the table to find reward checking accounts available nationwide. Refer to this post to learn how to use the table.

To learn more about reward checking accounts, please refer to my post 10 Common Traits of High-Yield Reward Checking Accounts.


  Tags: Bank of the Bluegrass and Trust Company, checking account, savings account, Kentucky

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Comments
Comment #1 by Jason (anonymous) posted on
Jason
Ken,

I live in Texas.  Just got a response on my application.  They are only accepting from local counties in Kentucky.  This is irritating as they do a credit pull during the application.

4