In early July, American Midwest Bank introduced a new Kasasa Cash checking account that earns 2.32% APY on qualifying balances up to $15K; qualifying balances over $15K earn 0.32% APY, while non-qualifying balances earn 0.05% APY.
- Have at least 12 debit card purchases post and settle.
- Be enrolled in and receive e-Statements.
- Have at least one Direct Deposit or ACH post and settle.
Kasasa Cash Summary
- $50 minimum opening deposit required.
- ATM fee refunded nationwide, up to $25 monthly ($5 per single transaction).
- No monthly service fee.
- No minimum balance required to earn rewards.
- Unlimited check writing.
Complete details are available on American Midwest Bank’s Kasasa Cash promotion page.
Headquartered in Sycamore, Illinois, American Midwest Bank’s market area includes five northeastern Illinois counties: Cook, DeKalb, DuPage, Kane and Lake.
Opening an account at American Midwest Bank requires an in-person visit to at any of seven Illinois branches, located in Antioch, DeKalb, Gurnee, Saint Charles, Schaumberg, and Sycamore (2). At this time, American Midwest Bank’s online banking platform is devoted to account management and bill pay services.
American Midwest Bank, has an overall health grade of "B+" at DepositAccounts.com, with a Texas ratio of 22.42% (average), based on March 31, 2015 data. In the past year, American Midwest Bank has increased its total deposits by $28.83 Million, an excellent annual growth rate of 7%. Please refer to our financial overview of American Midwest Bank for more details.
American Midwest Bank (FDIC Charter # 21272) was established in 1973 under the name, University National Bank of DeKalb. The Bank was sold three years later, prompting a name change to American National Bank of DeKalb. When the Farmers and Merchants Bank of Sycamore was acquired in 1991, the word "County" was added to the name to better reflect the Bank’s growing presence in DeKalb County. The acquisition of America United Bank and Trust Company in 2011 led to the Bank’s present-day name, and with assets in excess of $498 Million, American Midwest Bank is the 83rd largest bank in Ilinois.
How the Kasasa Cash Checking Account Compares
When compared to the 102 reward checking accounts tracked by DepositAccounts.com available to Illinois residents, American Midwest Bank’s Kasasa Cash currently ranks in the top 15.
The above rates are accurate as of 8/16/2015.
To search for nationwide Checking Account rates and Checking Account rates in your state, please refer to the Checking Accounts section of DepositAccounts.com.