East Cambridge Savings Bank (MA) Has Added Kasasa Brand Products


Deal Summary: Kasasa Cash Checking, 1.75% APY on qualifying balances up to $20k. Kasasa Saver, 1.00% APY on qualifying balances up to $50k.

Availability: Massachusetts

East Cambridge Savings Bank (ECSB) is one of several banks that have added the Kasasa brand to its product line in the last few months. The Kasasa Cash Checking currently earns 1.75% APY on qualifying balances up to $20k. Qualifying balances over $20k earn 0.25% APY, with non-qualify balances earning 0.03% APY. While 1.75% APY is certainly not the most competitive rate for a reward checking account, the Kasasa Saver’s 1.00% APY on qualifying balances up to $50k definitely compensates for the 1.75% APY (see below).

The monthly qualification requirements include,

  • At least 12 debit card transactions
  • At least one ACH debit
  • Be enrolled in e-Statements.

The Kasasa Cash Checking account has no minimum balance requirement or monthly service fee, but does require a low $10 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 per month. There is a limit of one Kasasa Cash account per Social Security number.

Kasasa Saver

The Kasasa Saver currently earns 1.00% APY on qualifying balances up to $50k. Qualifying balances over $50k earn 0.25% APY, with non-qualify balances earning 0.03% APY.

Kasasa Cash/Kasasa Cash Back earned rewards are automatically transferred to the 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 $10 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 Checking (1.75% APY/$20k) and the Kasasa Saver (1.00% APY/$50k) is approximately $850 (1.21% APY/$70k).

Kasasa Cash Back

The Kasasa Cash Back account offered by ECSB earns 3.50% cash back on debit card purchases, limited to the first $200 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; the maximum annual earnings for the Kasasa Cash Back account is $84 ($7 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 Cambridge, Massachusetts, East Cambridge Savings Bank’s has a brick-and-mortar presence in the Metro-Boston area, but according to CSR, the Kasasa brand product line is available to all Massachusetts residents.

Opening a Kasasa Cash, Kasasa Cash Back, or Kasasa Saver account can be done online, or at any of eleven Massachusetts branches located in Arlington, Belmont, Cambridge (3), Chelsea, Malden, Medford (2), Somerville, and Waltham. There is no mention of any COVID-related branch restrictions (hours, appointments, etc.) on ECSB’s website.

In addition to FDIC insurance, ECSB Connect offers Depositors’ Insurance Fund (DIF) to all its depositors. According to the DIF FAQs page,

As a member of both the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF), your bank provides full insurance for its customers' deposits and accrued interest without limit or exception. Each depositor is insured by the FDIC to at least $250,000. All deposits above the FDIC insurance amount are insured by the Depositors Insurance Fund (DIF).

Bank Overview

East Cambridge Savings Bank has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 0.50% (excellent) based on December 31, 2020 data. In the past year, ECSB has increased its total non-brokered deposits by $118.45 million, an excellent annual growth rate of 12.8%. Please refer to our financial overview of East Cambridge Savings Bank (FDIC Certificate # 90173) for more details.

Established in 1854, East Cambridge Savings Bank is currently the 43rd largest bank headquartered in Massachusetts, with assets in excess of $1.2 billion and nearly 42,000 customer accounts. Even though it’s a sizeable bank, ECSB sees itself as a community bank, committed to the betterment of the communities it serves.

East Cambridge Savings Charitable Foundation was formed in May of 1997 to support community organizations that work to address and support affordable housing, education, family and youth services and senior citizens. Since the Foundation’s incorporation, the Bank has contributed over $2.4 million to support these causes. Most grants funded are in the $1,000 to $5,000 range. While many donations are monetary, the Bank is also committed to partnering with our neighbors through volunteer efforts, collaborating on meeting community needs, and serving as a responsible corporate citizen.

How the Kasasa Cash Checking Compares

When compared to High Yield Reward Checking Accounts tracked by DepositAccounts.com, which are available to all Massachusetts residents and have maximum qualifying balances of at least $20k, East Cambridge Savings Bank’s Kasasa Cash Checking APY currently ranks fifth.

The above information and rates are accurate as of 3/6/2021.

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.

Related Pages: Boston checking accounts, reward checking accounts


The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.