Kasasa brand products have been offered by Community National Bank for nearly four years. The Kasasa Cash’s initial 2.00% APY on qualifying balances up to $20k is still in effect. Qualifying balances over $20k earn 0.20% APY, with non-qualify balances earning 0.05% APY.
The monthly qualification requirements are straightforward and fairly standard.
- At least 15 debit card purchases
- At least one direct deposit or ACH auto debit transaction
- Be enrolled in and agree to receive e-Statements
- Log into online banking at least once per statement cycle
The Kasasa Cash account has no minimum balance requirement or monthly service fee, but does require a $100 minimum opening deposit. Unlimited check writing is available and a free 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. (Reimbursements of individual ATM fees of $5.00 or higher require a receipt.) There is a limit of one Kasasa Cash account per Social Security number.
The Kasasa Saver currently earns 1.00% APY on qualifying balances up to $20k. Qualifying balances over $20k earn 0.20% APY, with non-qualify balances earning 0.05% APY.
Kasasa Cash/Kasasa Cash Back earned rewards and ATM reimbursements are automatically transferred to a linked Kasasa Saver account each month. Like the Kasasa Cash account, the Kasasa Saver has no minimum balance requirement or monthly service fee, and requires a $100 minimum opening deposit. There is a limit of one Kasasa Saver account per Social Security number.
Annual Earnings of Combined Kasasa Cash/Kasasa Saver Accounts
The potential combined annual earnings of the Kasasa Cash (2.00% APY/$20k) and the Kasasa Saver (1.00% APY/$20k) is approximately $600 (1.50% APY/$40k).
Kasasa Cash Back
Community National Bank’s Kasasa Cash Back account earns 2.00% cash back on debit card purchases, limited to the first $400 in monthly debit card purchases. If you are planning on maintaining a balance of less than $4,800, 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 $96 ($8 per month).
The Kasasa Brand
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 Seneca, Kansas, Community National Bank's brick-and-mortar footprint is limited to three Kansas counties (Brown, Leavenworth, and Nemaha), but according to CSR, the Kasasa brand products are offered to all Kansas residents.
Opening a Kasasa Cash Checking, Kasasa Cash Back, and/or Kasasa Saver account can be done online, or at any of four Kansas branches located in Basehor, Sabetha, Seneca, and Tonganoxie. There is no mention of any COVID-related branch restrictions (limited hours, appointments, temporary closures, etc.) on CNB’s website.
Community National Bank has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 9.37% (excellent) based on December 31, 2020 data. In the past year, CNB increased its total non-brokered deposits by $53.5 million, an excellent annual growth rate of 12.51%. Please refer to our financial overview of Community National Bank (FDIC Certificate # 25665) for more details.
Founded in 1984, Community National Bank is a locally-owned and operated community bank. In addition to offering retail banking services, CNB also operates a mortgage company and CNB Custody, a national custodial service for self-directed retirement plans. Currently the 26th largest bank headquartered in Kansas, CNB has assets in excess of $547 million and nearly 49,000 customer accounts.
How the Kasasa Cash Compares
When compared to High Yield Reward Checking Accounts tracked by DepositAccounts.com, which are available to all Kansas residents and have maximum qualifying balances of at least $20k, Community National Bank’s Kasasa Cash APY ranks fifth.
The above information and rates are accurate as of 4/16/2021.
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.