Bluff View Bank Kasasa Brand Products Available in MN and WI
Bluff View Bank has been offering Kasasa brand products for about four years. The Kasasa Cash Checking account currently earns 3.00% APY on qualifying balances up to $10k. Qualifying balances over $10k earn 0.25% APY, with non-qualify balances earning 0.01% APY.
DA has been tracking this Kasasa Cash Checking account since December 2016 when the APY was 2.25%. Since early 2018, there have been two rate increases and two rates decreases.
- 2.25% APY, December 2016
- 2.65% APY, February 2018
- 4.00% APY, March 2019
- 3.51% APY, January 2020
- 3.00% APY, March 2021
The monthly qualification requirements are easily accomplished and do not include a direct deposit or ACH transaction.
- At least 12 debit card purchases
- Be enrolled in and agree to receive e-Statements
- Be enrolled in and log into online or mobile banking
The Kasasa Cash account has no minimum balance requirement or monthly service fee, but does require a $50 minimum opening deposit. If e-Statements are not received, there is a $3 fee for paper statements (in addition to not meeting the qualification requirements). Unlimited check writing is available and a free Mastercard debit card will be issued following account opening. Unlimited nationwide ATM fees will be reimbursed up to $25 (maximum $4.99 per transaction) each month, if qualification requirements are met. There is a limit of one Kasasa Cash Checking account per Social Security number.
Purpose and Use
Tucked away in the Truth-in-Savings disclosure is language concerning the purpose and use of the Kasasa Cash Checking account.
This account is intended to be your primary checking account in which payroll transactions and day-to-day spending transactions are posted and settled. We expect the account’s debit card to be used frequently throughout each month and for transaction amounts to reflect a wide dollar range. Small debit card transactions conducted on the same day at a single merchant and/or multiple transactions made during a condensed period are not considered normal day-to-day spending behavior. These types of transactions appear to be conducted with the sole purpose of qualifying for the account’s rewards and thus will be deemed inappropriate transactions and may not count toward earning the account’s rewards.
Bluff View Bank reserves the right to determine if the account is being maintained for a purpose other than day-to-day, primary use. Accountholders who persist in making debit card transactions in a calculated and limited fashion in order to meet their monthly qualifications and/or does not have consistent active use many have their accounts converted to a HomeFREE checking account or closed altogether.
The Kasasa Saver currently earns 1.00% APY on qualifying balances up to $25k. Qualifying balances over $25k earn 0.25% APY, with non-qualify balances earning 0.01% APY.
Kasasa Cash Checking/Kasasa Cash Back earned rewards and ATM reimbursements are automatically transferred to the linked Kasasa Saver account each month. Like the Kasasa Cash Checking account, the Kasasa Saver has no minimum balance requirement or monthly service fee, and requires a $50 minimum opening deposit. Five fee-free withdrawals are permitted each month, with each subsequent withdrawal during the month incurring a $.50 fee. There is a limit of one Kasasa Saver account per Social Security number.
Annual Earnings of Combined Kasasa Cash Checking/Kasasa Saver Accounts
The potential combined annual earnings of the Kasasa Cash (3.00% APY/$10k) and the Kasasa Saver (1.00% APY/$25k) is approximately $550 (1.57% APY/$35k).
Kasasa Cash Back
Bluff View Bank’s Kasasa Cash Back account that earns 3.00% cash back on debit card purchases, limited to the first $300 in monthly debit card purchases (PIN and signature-based). If you are planning on maintaining a balance of less than $3,600, the Kasasa Cash Back account would probably be a better deal than the Kasasa Cash account, as the maximum annual earnings for the Kasasa Cash Back account is $108 ($9 per month).
The Kasasa Brand
For those not familiar with the Kasasa brand, Kasasa Cash is a type of Reward Checking Account (RCA) developed by the Texas company, Kasasa, Ltd. According to the Kasasa website,
Kasasa: the free checking account that rewards each month for doing things you already do.
By performing certain actions valuable to your bank or credit union, like using your debit card or online banking, your institution makes more money, which they share with you in the form of rewards.
In case you were wondering, “Kasasa” is just a made-up word.
In a world where real-life people are too often taken for granted as account numbers,
we didn’t want to be the next [INSERT GENERIC NAME] checking account.
Headquartered in Galesville, Wisconsin, Bluff View Bank's brick-and-mortar footprint is limited to two northwest Wisconsin counties (La Crosse and Trempealeau), but as stated on the online application, the Kasasa brand products are offered to residents of Minnesota and Wisconsin.
Opening a Kasasa Cash Checking, Kasasa Cash Back, and/or Kasasa Saver account can be done online, or at any of three full-service Wisconsin branches located in Galesville, Holmen, and Trempealeau.
As stated on the COVID-19 and Bluff View Bank page,
Our lobbies are open at all three locations; however, face coverings must be worn at all times while inside the Bluff View Bank facilities.
Bluff View Bank has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 2.06% (excellent) based on December 31, 2020 data. In the past year, Bluff View Bank increased its total non-brokered deposits by $12.07 million, an excellent annual growth rate of 14.83%. Please refer to our financial overview of Bluff View Bank (FDIC Certificate # 8693) for more details.
While the Bluff View Bank brand is less than three years old, the founding institution, Bank of Galesville, opened its doors for business in 1883. In July 2018, the Bank of Galesville celebrated 135 years of continuous service in Trempealeau County. Within a few months, Bank of Galesville and its two branches (Bank of Trempealeau and Seven Bridges Bank) re-branded as Bluff View Bank. According to the Our History page,
In May 2016, the Independent Community Bankers of America recognized the top performing banks in America. Bank of Galesville was recognized as one of the top 25 banks nationwide in its asset size category ($75 to $150 million). Only three other banks in Wisconsin in other asset size categories were recognized. The criteria for Top Performer recognition is based on the strength of the bank’s services and operational efficiencies throughout 2015.
How the Kasasa Cash Checking Compares
Given the multi-state market area, a comparison to nationally available RCAs is appropriate. When compared to High Yield Reward Checking Accounts tracked by DepositAccounts.com, which are available nationwide and have maximum qualifying balances of at least $10k, Bluff View Bank’s Kasasa Cash Checking APY ranks fourth.
The above information and rates are accurate as of 4/10/2021.
To look for the best Reward Checking Account rates, both nationwide and state specific, please refer to our High Yield Reward Checking Account Rates Table page.