Last year when I first reported on the reward checking account at Frontier Bank, the online application allowed residents of three states to apply. Its online application now allows residents of 12 midwestern states to apply. This gives many more people access to a very competitive reward checking account. The reward checking is under the Kasasa brand, and it’s called Kasasa Cash. As of 3/18/2014, the account has a 3.05% APY on balances up to $20K if typical reward checking monthly requirements are met. There’s also a Kasasa Saver account that can be linked to the checking. This has a 1.05% APY on balances up to $15K when the reward checking requirements are met. I have more details on these accounts in my Frontier Bank Kasasa account review. Below is the list of states that are now in Frontier Bank’s market area:
- North Dakota
- South Dakota
Frontier Bank’s main office is located in Rock Rapids, Iowa with additional branches in the Iowa cities of Sioux Falls, Little Rock and George.
The bank has an overall health score at DepositAccounts.com of B+ with a Texas ratio of 17.51% (above average) based on December 2013 data. Please refer to our financial overview of Frontier Bank for more details. The bank has been a FDIC member since 1994 (FDIC Certificate # 33922).
How This Reward Checking Compares
Frontier Bank’s Kasasa Cash account just tops the reward checking account at INOVA Federal Credit Union, an all-access credit union (doesn’t accept PA residents). INOVA’s reward checking, called Ovation Checking, has a 3.00% APY on balances up to $20K. However, it doesn’t offer a companion savings account. INOVA’s Ovation checking is currently the best nationwide rate for balances of at least $20K.
To find other reward checking accounts that are available nationwide or in your state, please refer to our high-interest reward checking account table.
To learn more about high-interest reward checking accounts, please refer to my post 10 Common Traits of High-Yield Reward Checking Accounts.