Texas Bank Financial Statewide Kasasa Cash Earns 4% APY, Up To $50k

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Availability: Kasasa Cash Checking, 4.00% APY on qualifying balances up to $50k.

Availability: All Texas residents through online application.

Texas Bank Financial introduced its new Kasasa Cash Checking in early November. This rewards checking account earns 4.00% APY on qualifying balances up to $50k. Qualifying balances above $50k earn an APY range of 4.00% to 1.50%, with non-qualifying balances earning 0.05% APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
4.00*%-$50kTexas Bank FinancialKasasa Cash Checking
OTHER TIERS: 1.50% $50k+
Rates as of January 17, 2020.
Qualification Requirements
  • At least 12 monthly qualifying debit card transactions.
  • At least one ACH (in/out) per month (no minimum dollar amount).
  • Sign in to online banking at least once per statement cycle.

The Kasasa Cash Checking account has no monthly service fee, offers free online banking and bill pay services, and can be opened with a minimum $25 deposit. Nationwide ATM fees will be reimbursed up to $25 per statement cycle, if the qualification requirements are met.

Kasasa Saver

Texas Bank Financial’s companion Kasasa Saver account earns 1.00% APY on qualifying balances up to $100k. According to the Deposit Products page, balances of more than $100k earn “1.00% to 0.63% depending on balance in account.” CSR was not able to tell me what the exact rate for the $100k+ balances is. Non-qualifying balances earn 0.05% APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.00*%-$100kTexas Bank FinancialKasasa Saver
OTHER TIERS: 0.63% $100k+
Rates as of January 17, 2020.

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 Weatherford, Texas (25 miles west of Fort Worth), Texas Bank Financial’s primary market area is North Central Texas, but the Kasasa Cash Checking and Kasasa Saver accounts are available to all Texas residents, 18 years or older, who have a valid Social Security number.

The statewide availability is new: less than two weeks ago, the Kasasa Cash Checking and Kasasa Saver accounts were offered only to North Central Texas residents.

Opening a Kasasa Cash Checking account can be done online, or at any of the three full-service Texas branches, located in Dallas, Fort Worth, and Weatherford.

Bank Overview

Texas Bank Financial has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 3.83% (excellent), based on September 30, 2019 data. In the past year, the Bank has increased its total non-brokered deposits by $88.19 million, an excellent annual growth rate of 30.27%. Please refer to our financial overview of Texas Bank Financial (FDIC Certificate # 26967) for more details.

Texas Bank Financial is a relatively young bank, having celebrated its 20th anniversary this year. Originally known as The Bank, it was established in 1999 by local Parker County business people who “pooled their resources and expertise to create a community bank.” Rebranded as Texas Bank Financial in 2012, it’s currently the 150th largest bank in Texas, with assets in excess of $420 million.

How the Kasasa Cash Checking Compares

When compared to the High Yield Rewards Checking Accounts tracked by DepositAccounts.com that are available in Texas and have qualifying balance caps of at least $50k, Texas Bank Financial’s Kasasa Cash Checking APY shares the top spot with TAB Bank’s Kasasa Cash Checking APY.

Interest RateAccount NameCredit Union/Bank
4.00% APYKasasa Cash Checking ($50k max)Texas Bank Financial
3.50% APYKasasa Cash ($50k max)Fannin Bank
2.51% APYKasasa Cash ($50k max)First Security Bank & Trust

The above rates are accurate as of 12/24/2019.

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: Dallas checking accounts, reward checking accounts

Comments
Aggie
Aggie   |     |   Comment #1
I live in Central Texas and applied for an account with Texas Bank Financial. I received an email back saying that they are only allowing residents in the Dallas-Fort Worth to apply.

Dashed my Christmas hopes
51hh
51hh   |     |   Comment #2
Thanks. Misleading information from their website then. It is expected maybe due to too many applications already for them (a relatively small bank) to handle.
Ken Tumin
Ken Tumin   |     |   Comment #3
The decision to make it state-wide happened right before Christmas, and they have been slow in updating their application. I suggest calling the bank to see if you can continue the application.
Jackson
Jackson   |     |   Comment #4
Anyone have luck getting the application approved online for the any area outside Dallas/Fort Worth area?
Aggie
Aggie   |     |   Comment #5
Hurray! I have been approved for this checking account after being denied in late December due to my location in Texas. Ken said they were rolling out Statewide after Christmas, so I called them after Christmas and they said they had now expanded to central Texas and to reapply. Today I received their approval and welcome package. I will update after I get this account up and running
Bob
Bob   |     |   Comment #6
Any new information? Can it be opened online now without calling?

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