Update: The rate and balance cap has fallen.
The Bank of Marion is offering a reward checking account called Kasasa Cash. The account offers the following rates and features if certain monthly requirements are met:
- 2.55% APY on balances up to $25,000
- 0.50% on balances over $25,000
- 0.25% base rate if qualifications are not met
- Refunds ATM fees nationwide up to $30 per cycle and $3 per ATM
The monthly requirements include:
- 10 debit card purchases
- One direct deposit or automatic payment
- Sign into online banking
- Receive e-statements
Additional features of the account regardless of the monthly requirements include:
- $100 minimum initial deposit
- No minimum balance requirement
- No monthly service charge
- Free first order of checks
The bank has an online application at the Kasasa.com website which is another version of CheckingFinder.com. The online application does not accept all zip codes. The account appears limited to areas around Southern Illinois. Branches are located in the Illinois cities of Marion, Carrier Mills, Creal Springs and Eldorado.
The bank has been FDIC insured since 1937 (FDIC Certificate # 15565).
Other Reward Checking Accounts
The Bank of Marion's rate is a little low for reward checking, but the $75K balance cap helps make up for this. The average cap is $25K.
To find reward checking accounts in other areas of the nation or to learn more about these accounts, please refer to my High Yield Checking website.
- 08/02/10: 2.55% APY up to $25K; 0.50% over; 0.25% base
- 05/26/09: 3.05% APY up to $75K; 0.50% over; 0.25% base