Lori Rothman from FOX Business recently interviewed Bancvue’s CEO, Gabe Krajicek, about Kasasa Cash accounts (reward checking accounts). Video and transcript of the interview are available in this Kasasa blog post
Most of the info Krajicek provided is well-known for us savers. However, he did give some interesting stats about Kasasa accounts. Some excerpts:
LORI: We’re looking at a graphic here showing a range of five to fifty thousand dollars. That’s quite wide. What questions should I be asking to find out what I would be eligible for?
GABE: Well everybody’s eligible for the account if they go to Kasasa.com they can just find what account has the right cap for them. Most consumers–about 75%–have balances less than 5000 dollars. So having a cap, you know, that 50000 dollars throws a huge net and allows average everyday consumers to get the same kind of interest rates that heretofore were only available to America’s wealthiest consumers.
LORI: How much interest have you guys that paid out so far with this program?
GABE: In the last four years we’ve paid out 67 million dollars, which I’m pretty proud of. On free account with no minimum balance that’s pretty awesome.