Texas Bank Financial Offers Kasasa Cash Checking Statewide
When Texas Bank Financial introduced its new Kasasa Cash Checking account nine months ago, its initial 4.00% APY on qualifying balances up $50k was definitely “wow-worthy.” While the current 2.02% APY isn’t an outstanding rate, the large balance cap (qualifying balances up to $50k) makes this Kasasa Cash Checking account quite competitive. Qualifying balances above $50k earn 0.25% APY, with non-qualifying balances earning 0.05% APY.
| APY | MIN | MAX | INSTITUTION | PRODUCT | DETAILS |
|---|---|---|---|---|---|
| 1.77*% | - | $50k | Texas Bank Financial | Kasasa Cash Checking | |
| OTHER TIERS: 0.25% → $50k+ | |||||
The monthly qualification requirements include,
- At least 12 monthly debit card purchases.
- At least one direct deposit, or ACH credit, or ACH payment transaction.
- Log into online or mobile banking at least once month.
- Receive e-Statements.
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. Unlimited nationwide ATM fees will be reimbursed up to $25 per statement cycle, if the qualification requirements are met. There is a limit of one Kasasa Cash Checking account per Social Security number.
Kasasa Saver
The companion Kasasa Saver account earns 1.00% APY on qualifying balances up to $100k. Qualifying balances of greater than $100k earn 0.25% APY, with non-qualifying balances earning 0.05% APY.
| APY | MIN | MAX | INSTITUTION | PRODUCT | DETAILS |
|---|---|---|---|---|---|
| 1.00*% | - | $100k | Texas Bank Financial | Kasasa Saver | |
| OTHER TIERS: 0.25% → $100k+ | |||||
The minimum opening deposit is $25 and there is a limit of one Kasasa Saver account per Social Security number. Earned interest from the Kasasa Cash Checking account and any ATM fee reimbursements will be transferred to the Kasasa Saver on the last day of the statement cycle.
Annual Earnings of Combined Kasasa Cash Checking/Kasasa Saver Accounts
The potential combined annual earnings of the Kasasa Cash Checking (2.02% APY/$50k) and the Kasasa Saver (1.00% APY/$100k) is approximately $2,010 (1.34% APY/$150k).
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.
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.
Opening a Kasasa Cash Checking/Kasasa Saver account(s) can be done online. While the lobbies of the three full-service Texas branches are temporarily closed to walk-in traffic, appointments can be made.
Dallas – We will take appointments for new accounts and mortgage originations, however, we will limit the number of guests to 3 per visit. Please call (214) 251-8001 to schedule an appointment.
Fort Worth – We will take appointments for new accounts and mortgage originations, however, we will limit the number of guest to 3 per visit. Please call (817) 386-8085 to schedule an appointment.
Weatherford – We will take appointments for new accounts and loan originations, however, we will limit the number of guests to 3 per visit. Please call (817) 596-9998 to schedule an appointment.
Bank Overview
Texas Bank Financial has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 5.45% (excellent), based on March 31, 2020 data. In the past year, the Bank has increased its total non-brokered deposits by $58.11 million, an excellent annual growth rate of 17.39%. Please refer to our financial overview of Texas Bank Financial (FDIC Certificate # 26967) for more details.
Texas Bank Financial is a young bank: its 22nd anniversary is only months away. 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 142nd largest bank in Texas, with assets in excess of $447 million.
How the Kasasa Cash Checking Compares
When compared to the High Yield Rewards Checking Accounts tracked by DepositAccounts.com that are available to all Texas residents and have qualifying balance caps of at least $50k, Texas Bank Financial’s Kasasa Cash Checking APY currently ranks first.
The above rates are accurate as of 8/8/2020.
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.
