Dedicated to Deposits: Deals, Data, and Discussion
DETAILSINSTITUTIONAPYMINMAXPRODUCT
RepublicBankAz, N.A.2.50%-$15kKasasa Cash
RepublicBankAz, N.A.0.75%-$15kKasasa Saver
RepublicBankAz, N.A.0.03%--Kasasa Cash
RepublicBankAz, N.A.0.03%--Kasasa Saver
Accounts mentioned in this post. Rates as of July 25, 2014

New Reward Checking and Savings Accounts at RepublicBankAz - AZ Only

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RepublicBankAz, N.A.

RepublicBankAz, N.A. recently introduced reward checking and savings accounts under the Kasasa brand. The rates are a little low compared to some nationally available accounts, but they’re competitive, especially when compared to accounts from Arizona banks and credit unions. Below is a summary of the rates and features of these two accounts based on the bank’s Kasasa Cash and Kasasa Saver pages as of 12/6/2013:

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

  • 2.50% APY on balances up to $15,000
  • 0.20% APY on portion of balance over $15,000
  • 0.03% APY on entire balance if requirements are not met
  • nationwide ATM fee refunds (up to $25 monthly)

Kasasa Saver rates for Kasasa Cash customers who meet the Kasasa Cash monthly requirements:

  • 0.75% APY on balances up to $15,000
  • 0.20% APY on portion of balance over $15,000
  • 0.03% APY on entire balance if requirements are not met

Monthly requirements to qualify for the above rates and ATM fee refunds:

  • 15 debit card purchases
  • 1 automatic payment (ACH) or 1 bill pay transaction
  • enrolled and receive e-statements

Both accounts have no minimum balance requirements and no monthly service fees. The Kasasa Cash account has a minimum initial deposit of $50. There is no minimum initial deposit for the Kasasa Saver account. The Kasasa Cash account allows unlimited check writing, and online bill pay is free.

Availability - Arizona Only

The bank has an online application. This can be accessed from the "apply now" link in the Kasasa Cash page. At the top of the application it states: "Please fill out the fields in the form below. One of our representatives will contact you within one business day to complete the process." I contacted the bank about eligibility, and I was told they are only accepting applications in Arizona.

Bank Overview

It’s a small bank with one office located in Phoenix, Arizona.

The bank has an overall health grade at DepositAccounts.com of a B+ with a Texas ratio of 13.77% (above average) based on September 2013 data. Please refer to our financial overview of RepublicBankAz, N.A. for more details. The bank has been an FDIC member since 2007 (FDIC Certificate # 58271).

How This Reward Checking Account Compares

There are a couple nationally available reward checking accounts with higher rates for a balance cap of at least $15K. Both INOVA Federal Credit Union and Lake Michigan Credit Union have a 3.00% APY. INOVA has a $20K balance cap, and Lake Michigan has a $15K balance cap.

For Arizona banks and credit unions, RepublicBankAz is near the top. 1st Bank Yuma has a reward checking account with 3.00% APY on balances up to $25K. However, this bank just has offices located in the small and isolated city of Yuma. Credit Union West has a similar Kasasa Cash account with a 2.51% APY, but the balance cap is only $10K.

These rates are accurate as of 12/06/2013.

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: RepublicBankAz, N.A., Arizona, checking account, savings account

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