Oxford Bank (MI) Offers Top Kasasa Cash Account Statewide


Deal Summary: Kasasa Cash, 2.50% APY on qualifying balances up to $50k. Kasasa Saver, 0.75% APY on qualifying balances up to $50k.

Availability: All Michigan residents

One of the most competitive reward checking accounts available in Michigan, Oxford Bank’s Kasasa Cash currently earns 2.50% APY on qualifying balances up to $50k. Qualifying balances over $50k earn 0.35% APY, with all non-qualifying balances earning 0.05% APY.

1.50*%-$15kOxford BankKasasa Cash
OTHER TIERS: 0.25% $15k+
Rates as of March 21, 2023.

What makes Oxford Bank's Kasasa Cash so competitive is the $50k balance cap. Several other reward checking accounts in Michigan have higher rates, but they have balance caps of $25k and under.

The Kasasa Cash was added to the product line at the end of 2016, with an initial 2.00% APY on qualifying balances. Two years ago, the rate was raised to 2.50% APY on qualifying balances up to $50k.

The qualifying requirements are straightforward, with no direct deposit requirement.

  • Have at least 12 debit card purchases
  • Be enrolled in and receive e-Statements
  • Be enrolled in and log into online banking

Oxford Bank’s Kasasa Cash has no minimum balance requirement, no monthly fee, and no minimum opening deposit. Unlimited check writing is available. Nationwide ATM fees will be reimbursed up to $25 per month, with a maximum of $4.99 reimbursed per single transaction. There is a limit of one account per Social Security number and the account is “not to be used for commercial purposes.” A Kasasa Cash account is required to have a Kasasa Saver account.

Kasasa Saver

The companion Kasasa Saver account earns 0.75% APY on qualifying balances up to $50k. Qualifying balances of greater than $50k earn 0.35% APY, with non-qualifying balances earning 0.05% APY.

0.75*%-$50kOxford BankKasasa Saver
OTHER TIERS: 0.35% $50k+
Rates as of March 21, 2023.

There is no minimum opening deposit requirement for the Kasasa Saver account. Earned interest from the Kasasa Cash account and any ATM fee reimbursements will be transferred to the Kasasa Saver on the last day of the statement cycle. There is a limit of one Kasasa Saver account per Social Security number.

Annual Earnings of Combined Kasasa Cash/Kasasa Saver Accounts

The potential combined annual earnings of the Kasasa Cash (2.50% APY/$50k) and the Kasasa Saver (0.75% APY/$50k) is approximately $1,625 (1.625% APY/$100k).

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,

On an everyday level, Kasasa is free checking that rewards you each month for doing simple things you might already do. "Simple" as in banking basics that actually save you time. Like choosing e-statements over paper statements, or swiping your debit card at checkout instead of writing a check.

Ever wondered where the word “Kasasa” comes from? Its etymology is neither Greek nor Latin.

Put simply, we made it up.
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.


Headquartered in Oxford, Michigan (about 40 miles north of Detroit), Oxford Bank offers its Kasasa Cash account to all residents of Michigan through an online application.

In addition to being opened online, the Kasasa Cash account can be opened at any of seven full-service Michigan branches, located in Clarkston, Davison, Dryden, Lake Orion, Oakland Township, Ortonville, and Oxford.

New Lobby Hours effective July 1, 2020

Monday - Friday: 9 a.m. - 5 p.m.
Saturday: by appointment only

Bank Overview

Oxford Bank has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 2.16% (excellent) based on March 31, 2020 data. In the past year, Oxford Bank has increased its total non-brokered deposits by $50.6 million, an excellent annual growth rate of 12.28%. Please refer to our financial overview of Oxford Bank (FDIC Certificate # 9719) for more details.

Established in 1884, Oxford Bank is the oldest commercial bank in Oakland County (Michigan) and has operated continuously under local ownership and management. The Bank’s founder and chief executive officer, Gabriel S. Holbert, died less than six months after the original Oxford Savings Bank opened its doors for business. His untimely death at age 46 prompted the Bank’s officers to create an official memorial page in the Bank’s permanent records.

He was the faithful friend, the beloved companion, the counseling brother of each one of us. To the stranger’s eye his char stands vacant in our circle. Not so to ours: so recently was he here, so closely was his daily life interwoven with our own, that it is difficult for us to make him dead.

How the Kasasa Cash Compares

When compared to the Reward Checking Accounts tracked by DepositAccounts.com, which are available to Michigan residents and have maximum qualifying balances of at least $50k, Oxford Bank’s Kasasa Cash APY currently ranks first.

The above rates are accurate as of 8/17/2020.

Thinking of opening a Reward Checking Account? Please refer to DA’s High Yield Reward Checking Account Rates Table page for both nationwide and state-specific accounts.

Related Pages: Detroit checking accounts, Flint checking accounts, reward checking accounts

  |     |   Comment #1
Note - I was told the 12 withdrawals could not be "online" withdrawals, they have to be physical swipe or chip point of service withdrawals.
Oxford Bank (MI) Offers Kasasa Cash (2.50% APY up to $50k) State Wide
Deal Summary: Kasasa Cash, 2.50% APY on qualifying balances up to $50k.

Availability: Michigan

Currently available to all Michigan residents, Oxford Bank’s Kasasa Cash earns 2.50% APY on qualifying balances up to $50k. Qualifying balances over $50k earn 0.35% APY, with all non-qualifying balances earning 0.05% APY.

The rate is a little low for Reward Checking Accounts, but the $50k cap is way above the typical $25k cap and makes the account noteworthy.

The Kasasa Cash was added to the product line two years ago, with an initial...

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