When Harleysville Savings Bank first introduced its Free Kasasa Cash Checking account in March 2015, the APY was 1.75%; last week that rate was raised to 2.01% APY on qualifying balances up to $25K. (Qualifying balances over $25K earn 0.50% APY and non-qualifying balances earn 0.05% APY.)
The Free Kasasa Cash Checking account can be opened with a minimum $25 opening deposit, but there is no minimum balance required to earn the stated APY. There are no monthly service charges, or charges to open or close the account. Nationwide ATM fees will be reimbursed up to $15 per monthly qualification cycle.
Monthly Qualification Requirements
- Minimum of 12 debit card purchases post and settle
- Be enrolled in and receive eStatements
- Be enrolled in and log into online banking
A summary of the monthly qualifications and a calendar of the monthly qualification cycles is available on the Bank’s website.
Free Kasasa Saver
When linked to the Free Kasasa Cash Checking account, Harleysville Savings Bank’s Free Kasasa Saver account earns 1.01% APY on qualifying balances up to $100K; qualifying balances over $100K earn 0.49% APY and non-qualifying balances earn 0.05% APY.
While Harleysville Savings Bank has several Southeastern Pennsylvania-based branches, accounts may be opened online by US citizens (18 years or older) who are residents of Pennsylvania, New Jersey, Delaware, and Maryland.
Opening a Free Kasasa Cash Checking and/or a Free Kasasa Saver account can be opened online or at any of seven Pennsylvania branches located in Harleysville, Hatfield, Lansdale, Norristown, Royersford, Souderton, and Sumneytown.
Harleysville Savings Bank has an overall health grade of "B" at DepositAccounts.com, with a Texas ratio of 13.60% (above average) based on September 30, 2015 data. In the past year, Harleysville Savings Bank increased its total deposits by $13.77 Million, an above average growth rate of 2.68%. Please refer to our financial overview of Harleysville Savings Bank for more details.
The original Harleysville Building and Loan Association (FDIC Certificate # 31461) was established in 1915, with its main purpose of granting mortgages to local residents. (The first mortgage loan granted, in the amount of $700, was for a property that is still in use today as a private residence.) Initially, there was no permanent office and the Board of Directors met monthly to report deposit balances they personally collected. A charter change in 1991 resulted in the new Harleysville Savings Bank name, and a further reorganization in 2000 led to the Bank’s multi-state presence. Today, Harleysville Savings Bank serves four eastern states with assets in excess of $779 Million.
How the Free Kasasa Cash Checking Compares
Given the multi-state availability of the Free Kasasa Cash Checking account, a comparison to nationally available Reward Checking accounts seems appropriate. Therefore, when compared to the 33 nationally available Reward Checking accounts tracked by DepositAccounts.com, Harleysville Savings Bank’s Free Kasasa Cash Checking APY currently ranks fifth, but its maximum qualifying balance is one of the highest available.
The above rates are accurate as of 12/7/2015.
To look for the best nationwide Reward Checking account rates and the best Reward Checking account rates in your state, please refer to our Reward Checking account rates table.