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Big Rate Cuts On Kasasa Cash & Saver At Transpecos Banks

Saturday, September 17, 2011 - 10:08 AMTransPecos Banks - Details
A reader just forwarded me a scan of a letter he received from his bank, TransPecos in Texas. The letter informed him that on 10/15/2011 the following rate cuts take effect:

NEW rates and caps

Kasasa Cash (reward checking)
  • 2.50% APY up to $10,000
  • 1.01% APY above $10,000
  • 0.05% base rate
Kasasa Saver
  • 1.01% APY on all balances
  • 0.05% base rate

OLD rates and caps

Kasasa Cash
  • 3.33% APY up to $25,000
  • 1.33% APY above $25,000
  • 0.05% base rate
Kasasa Saver
  • 1.75% APY up to $249,998
  • 1.15% APY above $249,998
  • 0.05% base rate

I'm afraid the $10K balance cap is growing in popularity. This account used to be a great one for large balances. That will no longer be the case. If you have a $100K balance in both accounts, you will earn $986 less per year after these cuts take effect.
1
Ken TuminKen Tumin5,469 posts since
Nov 29, 2009
Rep Points: 125,077
1. Saturday, September 17, 2011 - 9:21 PM
The 2 - 2.5% APY and $10K limit seem to be the trend for RCA these days.  Sad.
2
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,426
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