Farmers State Bank (NE) Offers Kasasa Cash Statewide

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Deal Summary: Kasasa Cash, 2.50% APY on qualifying balances up to $25k. Kasasa Saver, 1.00% APY on qualifying balances up to $100k.

Availability: Online market area includes Nebraska.

Farmers State Bank (FSB) began offering the Kasasa brand product line approximately two years ago. The Kasasa Cash currently earns 2.50% APY on qualifying balances up to $25k; qualifying balances above $25k earn 0.20% APY, with non-qualifying balances earning 0.05% APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.50*%-$25kFarmers State Bank (16116)Kasasa Cash Checking
OTHER TIERS: 0.20% $25k+
Rates as of November 27, 2020.

The monthly qualifying requirements to earned the stated APY are fairly standard.

  • At least 12 debit card purchases.
  • Have at least one direct deposit, ACH payment, or bill pay transaction.
  • Be enrolled in and agree to receive eStatements.

The Kasasa Cash account has no monthly service fee or minimum balance to earn rewards, but does require a $100 minimum opening deposit. Unlimited nationwide ATM fees will be reimbursed up to a total of $25 (maximum $4.99 per transaction), if qualifications are met. Unlimited checking is available and the first box of checks is provided at no cost. There is a limit of one Kasasa Cash account per individual taxpayer identification number.

Kasasa Saver

The Kasasa Saver account currently earns 1.00% APY on qualifying balances up to $100k. Qualifying balances above $100k earn 0.20% APY, with non-qualifying balances earning 0.05% APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.00*%-$100kFarmers State Bank (16116)Kasasa Saver
OTHER TIERS: 0.20% $100k+
Rates as of November 27, 2020.

Earned rewards and reimbursed ATM fees from a linked Kasasa Cash or Kasasa Cash Bank account are automatically transferred each month to the Kasasa Saver. There no monthly service fee or minimum balance required to earn rewards. The minimum opening deposit is $100 and there is a limit of one Kasasa Saver account per individual taxpayer identification number.

Annual Earnings of Combined Kasasa Cash/Kasasa Saver Accounts

The potential combined annual earnings of the Kasasa Cash (2.50% APY/$25k) and the Kasasa Saver (1.00% APY/$100k) is approximately $1,625 (1.30% APY/$125,000).

Kasasa Cash Back

FSB’s Kasasa Cash Back account earns 2.00% cash back on check card purchases, limited to the first $300 in monthly debit card purchases. If you are planning on maintaining a balance under $3,000, 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 $72 ($6 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 Dodge, Nebraska, Farmers State Bank is currently offering its Kasasa brand product line to U.S. citizens/resident aliens (19-years or older) who live in Nebraska.

Opening a Kasasa Cash/Kasasa Saver account(s) can be done online, or in-person at any of eight Nebraska branches, located in Alliance, Atkinson, Bridgeport, Carroll, Chadron, Dodge, Hickman, and Spencer.

At this time, all of our 8 Branch Lobbies are OPEN to serve you and all of your banking needs.

Bank Overview

Farmers State Bank has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 8.09% (excellent) based on June 30, 2020 data. In the past year, FSB has increased its total non-brokered deposits by $10.34 million, an excellent annual growth rate of 4.6%. Please refer to our financial overview of Farmers State Bank (FDIC Certificate # 16116) for more details.

Established in 1889, Farmers State Bank is one of the oldest banks in Nebraska still in operation today. In 1917, FSB acquired Spencer State Bank, which was established in 1922 in Spencer, Nebraska. Farmers State Bank is currently the 54th largest bank in Nebraska, with assets in excess of $309 million.

How the Kasasa Cash Compares

When compared to the High Yield Reward Checking Accounts tracked by DepositAccounts.com, that are available to all Nebraska residents and have maximum qualifying balances of at least $25k, Farmers State Bank’s Kasasa Cash APY currently ranks second.

Interest RateAccount NameCredit Union/Bank
2.54% APYCompass Rewards Account (up to $50k)Northwest Bank
2.50% APYKasasa Cash (up to $25k)Farmers State Bank
2.25% APYAdvantage Checking (up to $25k)Presidential Bank

The above rates are accurate as of 11/9/2020.

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: Omaha checking accounts, Lincoln checking accounts, Denver checking accounts, reward checking accounts

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