Following the 2019 acquisition of Metuchen Savings Bank, New Jersey-based Manasquan Bank introduced "Infinity, an exclusive product suite." The Infinity product line replaced the Kasasa brand checking and savings accounts that Manasquan Bank had been offering since 2014. The Infinity Cash account’s initial 2.00% APY on qualifying balances up to $25k is still in effect. Qualifying balances over $25k earn 0.25% APY, with non-qualifying balances earning 0.01% APY.
The Infinity Cash monthly qualification requirements are the same as those of the previously offered Kasasa Cash account.
- At least 12 debit card purchases.
- Be enrolled in and receive eStatements.
- Be enrolled and log into Online Banking.
The Infinity Cash account has no minimum balance requirement or monthly service fees, and can be opened with a $50 minimum deposit. Unlimited check writing is available and a free Mastercard® debit card will be issued following account opening. All domestic ATM fees will be reimbursed on the last day of the monthly statement cycle, with an ATM receipt required for reimbursement of individual fees of $5 or greater. There is a limit of one Infinity Cash account per Social Security number.
The companion Infinity Saver account recently lowered its $500k qualifying balance rates from 1.50% APY to 0.55%. Qualifying balances over $500k earn 0.25% APY, with non-qualifying balances earning 0.01% APY.
Earned rewards from the Infinity Cash account and ATM fee reimbursements are automatically deposited each month into the Infinity Saver account. There are no monthly services or minimum balance requirements. An Infinity Saver account can be opened with a $50 minimum deposit and there is a limit of one account per Social Security number.
Annual Earnings of Combined Infinity Cash/Infinity Saver Accounts
The potential combined annual earnings of the Infinity Cash (2.00% APY/$25k) and the Infinity Saver (0.55% APY/$500k) is approximately $3,200 (0.61% APY/$525k).
The potential combined annual earnings from a $100k total balance would come from an Infinity Cash $25k balance and an Infinity Saver $75k balance: $913 (0.91% APY/$100k).
Infinity Cash Bank
Manasquan Bank’s Infinity Cash Back account earns 2.00% cash back on up to $500 in monthly debit card purchases. If you are planning on maintaining a balance of less than $6,000, the Infinity Cash Back account would probably be a better deal than the Infinity Cash account, as the maximum annual earnings for the Infinity Cash Back account is $120 ($10 per month).
Headquartered in the borough of Manasquan on the New Jersey shore, Manasquan Bank offers its Infinity Cash and Infinity Saver accounts to residents of 16 East Coast states (from Maine to Florida) and the District of Columbia.
The Infinity Cash and Infinity Saver accounts can be opened online, or at any of the 15 New Jersey branches located in Bay Head, Brick, Colts Neck, Howell (2), Little Egg Harbor Township, Manasquan, Metuchen, Ocean, Point Pleasant, Shrewsbury, Spring Lake Heights, Stafford Township, and Wall Township (2). (Note: the online application process is only available to U.S. citizens; all others are required to open in-branch).
Manasquan Bank has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 3.83% (excellent) based on September 30, 2021 data. In the past year, Manasquan Bank has increased its total non-brokered deposits by $521.6 million, an excellent annual growth rate of 29.29%. Please refer to our financial overview of Manasquan Bank (FDIC Certificate # 30470) for more details.
Founded in 1874 as the Manasquan Savings and Loan Association, Manasquan Bank is currently New Jersey’s 15th largest bank, with nearly 60,000 customer accounts and assets in excess of $2.6 billion. The Bank’s name was changed to Manasquan Savings Bank in 1992, and became known by its present name in 2015. According to Wikipedia,
The borough's name (Manasquan) is of Lenape origin, variously described as
deriving from "Man-A-Squaw-Han" meaning "stream of the island of squaws",
"an island with enclosure for squans", "island door", or "point" / "top".
How Infinity Cash Compares
Given the multi-state availability of the Infinity Cash account, a comparison to nationally available RCAs is appropriate. When compared to the nationally available High Yield Reward Checking Accounts tracked by DepositAccounts.com that have maximum qualifying balances of at least $25k, Manasquan Bank’s Infinity Cash APY currently ranks fourth.
The above rates are accurate as of 1/27/2022.
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. To find the best Reward Checking and Savings Accounts for large balances, please refer to our table of the Best Reward Checking Accounts for Large Balances.