Sunstate Bank (FL) Offers Kasasa Brand Products Statewide


Deal Summary: Kasasa Cash, 3.00% APY on qualifying balances up to $10k. Kasasa Saver, 1.00% APY on qualifying balances up to $25k.

Availability: Online market area includes all of Florida.

Sunstate Bank now offers its product line throughout Florida, including all Kasasa brand products. The Kasasa Cash account currently earn 3.00% APY on qualifying balances up to $10k. Qualifying balances over $10k earn 0.20% APY, with non-qualifying balances earning 0.05% APY.

The monthly qualification requirements include,

  • At least 12 debit card purchases
  • At least one direct deposit, ACH credit or ACH debit transaction
  • Be enrolled in and agree to receive eStatements

The Kasasa Cash account has no minimum balance requirement or monthly service fee, and can be opened with a low $25 minimum deposit. Nationwide ATM fees will be reimbursed up to $25 per month ($4.99 maximum per single transaction), if qualification requirements are met. A receipt must be presented for reimbursements of individual ATM fees of $5.00 or higher. 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 Checking account per Social Security number. A Kasasa Cash account is required to have a Kasasa Saver account.

Kasasa Saver

Sunstate Bank’s Kasasa Saver account earns 1.00% APY on qualifying balances up to $25k. Qualifying balances over $25k earn 0.20% APY, with non-qualify balances earning 0.05% APY.

Earned rewards from a Kasasa Cash Checking/Kasasa Cash Back are automatically transferred to the linked Kasasa Saver every month. Like the Kasasa Cash, the Kasasa Saver has no minimum balance requirement or monthly service fee, and requires a $25 minimum opening deposit. 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 a Kasasa Cash account (3.00% APY/$10k) and a Kasasa Saver account (1.00% APY/$25k) is approximately $550 (1.57% APY/$35k).

Kasasa Cash Back

The Kasasa Cash Back account earns 3.00% cash back on debit card purchases, limited to the first $200 of monthly purchases. If you are planning on maintaining a balance under $2,400, the Kasasa Cash Back account would probably be a better deal than the Kasasa Cash Checking account; the maximum annual earnings for the Kasasa Cash Back account is $72 ($6 per month).

The Kasasa Brand

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.


Headquartered in Miami, Sunstate Bank’s market area has expanded since my 2018 blog post. The original market area of South Florida has transformed into a statewide online market area.

Opening a Kasasa Cash/Kasasa Cash Back/Kasasa Saver accounts can be done online, or at any of the three South Florida branches located in Coral Gables, Miami, and West Miami. (Sunstate Bank’s website does not make mention of any COVID-related restrictions on branch lobby access or hours.)

Following the submission of an online application, Sunstate Bank will,

contact you to provide proof of identification and Florida
residency prior to the opening and funding any account.

Bank Overview

Sunstate Bank has an overall health grade of "A" at, with a Texas Ratio of 4.49% (excellent) based on September 30, 2020 data. In the past year, Sunstate Bank has increased its total non-brokered deposits by $49.65 million, an excellent annual growth rate of 14.4%. Please refer to our financial overview of Sunstate Bank (FDIC Certificate # 34643) for more details.

Sunstate Bank was established in 1999 as the Sofisa Bank Florida, a sister bank of the Brazil-based Banco Sofisa. The Bank re-branded in 2007 in an effort to, "reinforce our commitment to the communities we serve, and with a unique experience – namely ‘State of the Art’ banking." In 2018, Sunstate Bank acquired Intercontinental Bank, procuring an additional branch (West Miami) and approximately $160 million in assets.

“We are delighted that Intercontinental Bank has agreed to join with Sunstate Bank,” said Lloyd DeVaux, President and CEO of Sunstate Bank. “Customers are being attracted by our strong community focus and personalized service, and this has led the bank to grow over 35% in the last 12 months. Combining with a bank like Intercontinental Bank, which also offers a high-level of personalized service, has a community focus, and is committed to doing what’s best for their customers, will help strengthen and expand our presence in the growing South Florida Region."

Currently 49th largest bank headquartered in Florida, Sunstate Bank has more than $510 million in assets.

How the Kasasa Cash Compares

When compared to the High Yield Reward Checking Accounts tracked by that are available to all Florida residents and have maximum qualifying balances of at least $10k, Sunstate Bank’s Kasasa Cash APY currently ranks fifth.

The above rates are accurate as of 12/19/2020.

To search 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: Miami checking accounts, reward checking accounts

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The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.