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Manasquan Savings Bank2.00%-$25kKasasa Cash
Manasquan Savings Bank0.50%-$10kKasasa Saver
Accounts mentioned in this post. Rates as of August 19, 2014

New Reward Checking Account at Manasquan Savings Bank in the Northeast


Manasquan Savings Bank

Manasquan Savings Bank has just launched a high-interest reward checking account under the Kasasa brand. It’s called Kasasa Cash, and it has a competitive rate and balance cap. The bank also launched three other Kasasa products. One is a savings account called Kasasa Saver and the other two are checking accounts called Kasasa Tunes and Kasasa Cash Back. Below is a summary of the rates and features of the Kasasa Cash and Kasasa Saver accounts as of 4/4/2014:

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

  • 2.00% APY on balances up to $25,000
  • 0.25% interest rate on the portion of the balance over $25,000
  • 0.01% APY if requirements aren’t met
  • ATM fees refunded nationwide (ATM receipt must be presented for reimbursement of an individual ATM fee of $5 or higher.)

Kasasa Saver account rates if monthly requirements are met:

  • 0.50% APY on balances up to $10,000
  • 0.25% interest rate on portion of balance over $10,000
  • 0.01% APY if requirements aren’t met

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

  • 12 debit card purchases
  • Be enrolled and log into online banking
  • Be enrolled and receive eStatement notice

Both accounts are free with no monthly service fees. There are no minimum balance requirements, but both require a $50 minimum deposit to open. There’s a limit of one account per social security number.


There’s an online application. The links to the application are on the bank’s Kasasa Cash and Saver pages. According to the first page of the application your primary residence must be either New Jersey, New York, Pennsylvania, or Delaware. Note, small banks often change eligibility requirements.

Bank Overview

Manasquan Savings Bank branches are located in the New Jersey townships and boroughs of Manasquan, Point Pleasant, Howell, Spring Lake Heights and Wall.

The bank has an overall health grade at of an A with a Texas ratio of 5.38% (excellent) based on December 2013 data. Please refer to our financial overview of Manasquan Savings Bank for more details. The bank has been a FDIC member since 1950 (FDIC Certificate # 30470).

How This Reward Checking Compares

It’s nice to see a new reward checking account with a $25K balance cap. That is rare these days. It seems like $10K and $15K balance caps are now more common for new reward checking accounts. The 2% rate is a little low, but the $25K balance cap helps to offset this. The highest rate for a nationally available reward checking account with a $25K cap is 2.05% APY at Security Bank as of 4/4/2014.

One disappointment is the low rate and balance cap on the Kasasa Saver account. When the Saver account rate is lower than most internet savings accounts, the Saver account isn’t worth it. You would be better off just linking an internet savings account to the checking account.

To find reward checking accounts in your state or that are available nationwide, please refer to our reward checking table. If you want to learn more about reward checking, this reward checking overview has many details.

  Tags: Manasquan Savings Bank, New Jersey, Pennsylvania, New York, Delaware, checking account

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