Queenstown Bank Offers Kasasa Brand in Maryland and Delaware


Deal Summary: Kasasa Cash, 2.00% APY on qualifying balances up to $15k. Kasasa Saver, 0.75% APY on qualifying balances up to $20k.

Availability: Maryland and Delaware

Queensland Bank of Maryland (Queenstown Bank) began offering Kasasa brand products last summer. The Kasasa Cash’s initial 2.00% APY on qualifying balances up to $15k is still in effect. Qualifying balances over $15k earn 0.20% APY, with non-qualify balances earning 0.01% APY.

The monthly qualification requirements include,

  • At least 12 debit card purchases
  • At least one direct deposit or ACH payment transaction
  • Be enrolled in and agree to receive e-Statements.

The Kasasa Cash account has no minimum balance requirement or monthly service fee, and can be opened with a low $20 minimum deposit. Unlimited check writing is available and a free debit card will be issued following account opening. Unlimited nationwide ATM fees will be reimbursed up to an aggregate of $25 each month, if qualification requirements are met. There is a limit of two Kasasa Cash accounts per Social Security number. If the qualification requirements are not met for three consecutive statement cycles, the Kasasa Cash account may be converted to a regular checking account.

Kasasa Saver

The Kasasa Saver currently earns 0.75% APY on qualifying balances up to $20k. Qualifying balances over $20k earn 0.20% APY, with non-qualify balances earning 0.01% APY.

Kasasa Cash/Kasasa Cash Back earned rewards and reimbursed ATM fees are automatically transferred to the linked Kasasa Saver account each month. Like the Kasasa Cash account, the Kasasa Saver has no minimum balance requirement or monthly service fee, and requires a $20 minimum opening deposit. The first six “non-personal” withdrawals/transfers each month are free; there is a $5 fee for each occurrence after the first six. There is a limit of two Kasasa Saver accounts per Social Security number.

Annual Earnings of Combined Kasasa Cash/Kasasa Saver Accounts

The potential combined annual earnings of one Kasasa Cash account (2.00% APY/$15k) and one Kasasa Saver account (0.75% APY/$20k) is approximately $450 (1.29% APY/$35k).

Since Queenstown Bank allows up to two Kasasa Cash and Saver accounts per Social Security number, customers can double the amount that they can earn. The potential combined annual earnings of two Kasasa Cash accounts (2.00% APY/$30k) and two Kasasa Saver accounts (0.75% APY/$40k) is approximately $900 (1.29% APY/$70k).

Kasasa Cash Back

Queenstown Bank offers a Kasasa Cash Back account that earns 2.00% cash back on debit card purchases, limited to the first $400 in monthly debit card purchases. If you are planning on maintaining a balance of less than $4,800, the Kasasa Cash Back account would probably be a better deal than the Kasasa Cash account, as the maximum annual earnings for the Kasasa Cash Back account is $96 ($8 per month).

Like the Kasasa Cash account, there is a limit of two Kasasa Cash Back accounts per Social Security number, boosting the potential annual cash back to $192.

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.


Headquartered in Queenstown, Maryland, Queenstown Bank has a brick-and-mortar presence in three counties on Maryland’s Eastern Shore, but offers its Kasasa brand products to individuals (18 years or older) who live, work, or attend school in Maryland or Delaware.

Opening a Kasasa Cash, Kasasa Cash Back, and/or Kasasa Saver account can be done online,* or at any of eight full-service Maryland branches located in Centreville, Chester, Church Hill, Easton, Grasonville, Queenstown, Ridgely, and Stevensville. There is no mention of any COVID-related branch restrictions (limited hours, appointments, temporary closures, etc.) on Queenstown Bank’s website.

*As stated on the first page of the online application,

You must be a U. S. Citizen in order to apply online for an account with Queenstown Bank.
If you are not a U. S. citizen, please visit one of our branch offices to open an account.

Bank Overview

Queenstown Bank has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 3.62% (excellent) based on December 31, 2020 data. In the past year, Queenstown Bank has increased its total non-brokered deposits by $100.8 million, an excellent annual growth rate of 24.9%. Please refer to our financial overview of Queenstown Bank (FDIC Certificate # 8816) for more details.

Opening its doors for business in 1899, the bank was originally known as Queenstown Savings Bank of Queen Anne's County. The name was changed to Queenstown Bank of Maryland in 1910 by the Maryland State Legislature. Currently the 18th largest bank headquartered in Maryland, Queenstown Bank has assets in excess of $577 million and more than 23,000 customer accounts.

How the Kasasa Cash Compares

Given the multi-state market area, a comparison to nationally available RCAs is appropriate. When compared to High Yield Reward Checking Accounts tracked by DepositAccounts.com, which are available nationwide and have maximum qualifying balances of at least $15k, Queenstown Bank’s Kasasa Cash APY isn’t that impressive, currently ranking sixth. The ability to open two accounts increases this reward checking account’s intrinsic value, as there are few RCAs with balance caps greater than $25k.

The above information and rates are accurate as of 4/8/2021.

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: Baltimore savings accounts, savings accounts, reward checking accounts


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.