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Jeffdavis Bank Kasasa Cash Checking (4.01%APY $10K To 3.25%APY $10K)

Saturday, October 1, 2011 - 6:08 AMJD Bank - Details
The change was detected by DA's bank alert feature.  

Checking balances over $10K will earn .25%, from .51%. 

The rate on the savings account is also changing (2%APY $10k to 1.25%) on balances up to $10k.  Savings balances over $10k will earn .25%, from .51%.
2
pearlbrownpearlbrown1,433 posts since
Nov 2, 2010
Rep Points: 6,255
1. Saturday, October 1, 2011 - 3:31 PM
 

The change was detected by DA's bank alert feature. 

Yes, it was detected. But to the bank's credit, at least they sent the following email to account holders a month before the change took effect.


 
8/24/2011 8:53:04 AM 

Dear Kasasa Customer, 

We hope you have enjoyed receiving the benefits of having a Kasasa account with Jeff Davis Bank.  With the convenience of e-statements, UNLIMITED ATM fee reimbursement, and earning interest, Kasasa accounts have continued to be very popular among our customers. 

We have held the Kasasa interest rate steady for well over one year, but with the Federal Reserve announcement this month that it would hold rates low through 2013, we must reduce the interest rate at this time.  These changes will take effect on your statement cycle beginning September 29, 2011. 

New Kasasa Cash structure

3.25% APY for balances at or below $10,000 that qualify

0.25% APY for balances above $10,000 that qualify

0.10% APY on all balances that do not qualify 

New Kasasa Saver structure

1.25% APY for balances at or below $15,000 that qualify

0.25% APY for balances above $15,000 that qualify

0.10% APY on all balances that do not qualify 

We wanted to notify you of the change ahead of time to minimize the questions you may have when you receive your e-statement near the end of October.  We would also like to remind you that the monthly requirements will remain unchanged and you can still qualify for UNLIMITED ATM refunds each month. 

Sincerely, 

Jeff Davis Bank

4
StewieStewie56 posts since
Jan 18, 2010
Rep Points: 318
2. Saturday, October 1, 2011 - 4:28 PM
@Stewie, you are absolutely right.  WhatABummer posted details of this in a thread on 8/24.    Apparently the caffeine hadn't kicked in when I started this thread so that's probably why I didn't remember reading about the rate change five weeks ago.  :D
2
pearlbrownpearlbrown1,433 posts since
Nov 2, 2010
Rep Points: 6,255
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