Citizens Savings Bank Offers Kasasa Cash In 8 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.
| APY | MIN | MAX | INSTITUTION | PRODUCT | DETAILS |
|---|---|---|---|---|---|
| 2.25*% | - | $20k | Citizens Savings Bank (PA) | Free Kasasa Cash Checking | |
| OTHER TIERS: 0.15% → $20k+ | |||||
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.
| APY | MIN | MAX | INSTITUTION | PRODUCT | DETAILS |
|---|---|---|---|---|---|
| 0.75*% | - | $50k | Citizens Savings Bank (PA) | Free Kasasa Saver | |
| OTHER TIERS: 0.10% → $50k+ | |||||
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.
| Interest Rate | Account Name | Credit Union/Bank |
|---|---|---|
| 3.30% APY | Vertical Checking ($20k max) | Evansville Teacher Federal Credit Union |
| 2.25% APY | Kansas Cash ($20k max) | Citizens Savings Bank |
| 2.01% APY | Kasasa Cash ($50k max) | First Security Bank & Trust |
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.
