Ken first reported
on the Free Bonus Checking RCA in January of 2009, when it was paying 5% on balances up to $25k. A year later it was paying 4.0%, and then at some point it apparently stopped being offered.
This 4-star DA-rated bank is now offering a Kasasa Cash with Saver combo. Qualified accounts earn 2.1%APY on balances up to $25k in the Kasasa Cash account, and 1%APY on balances up to $25K in the Kasasa Saver.
Monthly qualifications include:
- Have at least 12 check card purchases post and settle
- Be enrolled and receive e-Statements
- Have at least 1 automatic payment (ACH) or direct deposit post and settle
There is a limit of 2 accounts per SSN
In 2009, according to Ken's original post, it appeared a branch visit was required to open the account. Today, there is an online application
. The account does not appear to be limited to individuals in a local market. I started the application process, read through all the disclosures and made it to the applicant information section without encountering any you-must-be-a-resident-of restrictions.