Citizens Savings Bank Offers Kasasa Cash In 8 Pennsylvania Counties

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Deal Summary: Kasasa Cash, 2.25% APY on qualifying balances up to $20k. Kasasa Saver, 0.75% APY on qualifying balances up to $50k.

Availability: Eight Northeastern Pennsylvania counties

Citizens Savings Bank’s Kasasa Cash was added to the product line five years ago. The initial 2.25% APY on qualifying balances up to $20k is still in effect. Qualifying balances over $20k earn 0.15% APY, with non-qualifying balances earning 0.01% APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.25*%-$20kCitizens Savings Bank (PA)Free Kasasa Cash Checking
OTHER TIERS: 0.05% $20k+
Rates as of April 13, 2021.

The Kasasa Cash monthly qualification requirements are straightforward and do not include a direct deposit or ACH transaction.

  • At least 12 debit card purchases
  • Be enrolled in and receive e-Statements
  • Be enrolled in and log into online banking or mobile banking at least once a month

The Kasasa Cash account has no minimum balance requirement or monthly service fee, but does require a $25 minimum opening deposit. Unlimited nationwide ATM fees will be reimbursed up to a monthly aggregate of $20, if qualifications are met. (Individual ATM fees greater than $5 require that an ATM receipt be presented within 30 days of transaction date for reimbursement.) There is a limit of one account per Social Security number. A Kasasa Cash account is required to have a linked Kasasa Saver account.

Kasasa Saver

The Kasasa Saver earns 0.75% APY on qualifying balances up to $50k; qualifying balances over $25k earn 0.10% APY, with non-qualifying balances earning 0.05% APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
0.50*%-$50kCitizens Savings Bank (PA)Free Kasasa Saver
OTHER TIERS: 0.10% $50k+
Rates as of April 13, 2021.

Earned rewards from a Kasasa Cash/Kasasa Cash Back account are automatically transferred to the Kasasa Saver each month. The Kasasa Saver has no monthly maintenance fee, no minimum balance requirement, and no minimum opening deposit requirement. There is a limit of one Kasasa Cash account per Social Security number.

Annual Earnings of Combined Kasasa Cash/Kasasa Saver Accounts

The potential combined annual earnings of the Kasasa Cash (2.25% APY/$20k) and the Kasasa Saver (0.75% APY/$50k) is approximately $825 (1.18% APY/$70k).

Kasasa Cash Back

Citizens Savings Bank’s Kasasa Cash Back account earns 4.00% cash back on debit card purchases, limited to the first $250 of monthly purchases. If you are planning on maintaining a balance under $5,300, the Kasasa Cash Back account would probably be a better deal than the Kasasa Cash account; the maximum annual earnings for the Kasasa Cash Back account is $120 ($10 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.

Availability

Headquartered in Clarks Summit, Pennsylvania, Citizens Bank’s Kasasa Cash, Kasasa Cash Back, and Kasasa Saver accounts are available to all U.S. citizens/resident aliens, with a valid Social Security number, who live in the Northeastern Pennsylvania counties of Carbon, Lackawanna, Luzerne, Monroe, Pike, Susquehanna, Wayne, or Wyoming.

Opening any type of Kasasa account can be done online. The seven Pennsylvania branch locations, located in Clarks Summit, Honesdale, Mount Pocono, Scranton (3), and Taylor, are open by appointment only.

Bank Overview

Citizens Savings Bank has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 3.05% (excellent) based on September 30, 2020 data. In the past year, the Bank has increased its total non-brokered deposits by $29.89 million, an excellent annual growth rate of 11.18%. Please refer to our financial overview of Citizens Savings Bank (FDIC Certificate # 31184) for more details.

On a summer evening in 1901, a group of neighbors met to discuss how they could help local homebuyers and builders finance new construction and also give community members a place to invest their hard-earned money. Originally known as Citizens Savings Association, the bank opened its doors for business in January 1902. Locally owned and operated for the last 120 years, Citizens Savings Bank is currently the 97th largest bank headquartered in Pennsylvania, with assets in excess of $351 million.

How the Kasasa Cash Compares

When compared to the High Yield Rewards Checking Accounts tracked by DepositAccounts.com that are available within the market area and have maximum qualifying balances of at least $20k, Citizens Savings Bank’s Kansas Cash APY currently ranks second.

The above rates are accurate as of 1/9/2021.

To search for the best Reward Checking Account rates, both nationwide and state specific, please refer to our High Yield Reward Checking Account Rates Table page.

Related Pages: Wilkes Barre checking accounts, reward checking accounts

Comments
Ratesaver
  |     |   Comment #1
Nice to see something posted in my back yard but this is just to many steps to achieve for most older people... I can see some middle aged family with children but with 13 debit cards purchases it is still a little push to achieve. I don't have a debit card and never used one... Personally it not for me. But for this area it may be a help for some...

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