Mid-Missouri Bank Offers Kasasa Brand Products In Southwest Missouri

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Deal Summary: Kasasa Cash, 3.00% APY on qualifying balances up to $10k. Kasasa Saver, 1.00% APY on qualifying balances up to $50k.

Availability: Southwest Missouri

Mid-Missouri Bank (Mid-Missouri) has been offering Kasasa brand products for almost four years. The Kasasa Cash's initial 3.00% APY on qualifying balances up to $10k is still in effect. Qualifying balances over $10k earn 0.30% APY, with non-qualifying balances earning 0.05% APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.00*%-$10kMid-Missouri BankKasasa Cash
OTHER TIERS: 0.30% $10k+
Rates as of March 1, 2021.

The Kasasa Cash monthly qualification requirements include,

  • At least 12 debit card purchases
  • At least one ACH credit or ACH payment transaction
  • Receive e-Statements

The Kasasa Cash account has no minimum balance requirement or monthly service fee, but does require a $25 minimum opening deposit. Unlimited nationwide ATM fees will be reimbursed up to a $25 per monthly, if qualifications are met. Unlimited checking writing is available and a free MasterCard® debit card will be issued following account opening. There is a limit of one Kasasa Cash account per individual taxpayer ID number.

Kasasa Saver

The Kasasa Saver earns 1.00% APY on qualifying balances up to $50k; qualifying balances over $50k earn 0.30% APY, with non-qualifying balances earning 0.05% APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.00*%-$50kMid-Missouri BankKasasa Saver
OTHER TIERS: 0.30% $50k+
Rates as of March 1, 2021.

Earned rewards and ATM fee reimbursements from a Kasasa Cash/Kasasa Cash Back account are automatically transferred to the Kasasa Saver each month. The Kasasa Saver has no monthly maintenance fee or minimum balance requirement, but does require a $100 minimum opening deposit. There is a limit of one Kasasa Saver account per individual taxpayer ID number.

Annual Earnings of Combined Kasasa Cash/Kasasa Saver Accounts

The potential combined annual earnings of the Kasasa Cash (3.00% APY/$10k) and the Kasasa Saver (1.00% APY/$50k) is approximately $800 (1.33% APY/$60k).

Kasasa Cash Back

Mid-Missouri’s Kasasa Cash Back earns 4.00% cash back on debit card purchases, limited to the first $200 of monthly purchases. If you are planning on maintaining a balance under $3,200, 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 $96 ($8 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 Springfield, Missouri, Mid-Missouri Bank has a physical presence in eight southwest Missouri counties (Cedar, Christian, Greene, Jasper, Laclede, Lawrence, Newton, and Polk). According to CSR, anyone can open a Kasasa brand product, but Individuals who are new Mid-Missouri customers must come into a branch to verify their identity.

While there is an ”Open in Minutes” online application, it’s essentially a form that captures the information necessary to establish identity. Current Mid-Missouri customers will be contacted within one business day after submitting the application to complete the process. New Mid-Missouri customers can finalize an account opening at of any 13 Missouri branches, located in Bolivar, El Dorado Springs, Joplin, Lebanon, Mount Vernon, Republic, Springfield (3), Stockton, Webb City (2), and Willard. There is no mention of any branch lobby COVID-related restrictions (limited hours, appointments, etc.) on Mid-Missouri Bank's website.

Bank Overview

Mid-Missouri Bank has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 7.65% (excellent) based on September 30, 2020 data. In the past year, Mid-Missouri has increased its total non-brokered deposits by $89.35 million, an excellent annual growth rate of 16.38%. Please refer to our financial overview of Mid-Missouri Bank (FDIC Certificate # 15584) for more details.

Opening its doors for business in 1872, Mid-Missouri Bank was originally known as Polk County Bank. More than 100 years later, the Mid-Missouri Bank rebrand occurred in 2001, following the acquisition of Laclede County Bank (Lebanon) and Tri-County State Bank (El Dorado Springs). The First National Bank of Mount Vernon and Webb City Bank were acquired in 2006. With assets in excess of $774 million, Mid-Missouri Bank is currently the 39th largest bank headquartered in Missouri.

How the Kasasa Cash Compares

When compared to the High Yield Rewards Checking Accounts tracked by DepositAccounts.com that are available within the market and have maximum qualifying balances of at least $10k, Mid-Missouri Bank’s Kasasa Cash APY currently ranks fifth.

Interest RateAccount NameCredit Union/Bank
4.09% APYRewards Checking – Tier A ($10k max)Consumers Credit Union (IL)
3.30% APYVertical Checking ($20k max)Evansville Teachers Federal Credit Union
3.05% APYKasasa Cash ($15k max)The Bank of Missouri
3.01% APYVIP Checking Platinum Tier ($15k max)Market USA Federal Credit Union
3.00% APYKasasa Cash ($10k max)Mid-Missouri Bank

The above rates are accurate as of 2/10/2021.

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: Joplin checking accounts, Springfield checking accounts, reward checking accounts

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