The Savings Bank's Kasasa Cash Checking Available in MA and NH


Deal Summary: Kasasa Cash, 2.00% APY on qualifying balances up to $15k. Kasasa Saver, 1.51% APY on qualifying balances up to $25k.

Availability: Massachusetts and New Hampshire.

The Savings Bank (TSB) has been offering Kasasa brand products since March 2018. TBS’s Kasasa Cash account currently earns 2.00% APY on qualifying balances up to $15k. Qualifying balances over $15k earn 0.20%, with non-qualifying balances earning 0.05% APY.

The monthly qualifying requirements include,

  • At least 12 debit card POS purchases.
  • At least one ACH debit or credit transaction.
  • Be enrolled in eStatements.

The Kasasa Cash account has no monthly maintenance fees or minimum balance requirements, but does require a $50 minimum opening deposit. Unlimited nationwide ATM fees will be automatically reimbursed up to $25 per monthly cycle, if the qualifying requirements are met. (TBS also belongs to the SUM ATM network, which provides surcharge-free ATMs in 42 states, the District of Columbia, and Puerto Rico.) There is a limit of one Kasasa Cash account per Social Security number.

Kasasa Saver Account

TBS’s Kasasa Saver account earns 1.51% APY on qualifying balances up to $25k. Qualifying balances over $25k earn 0.50% APY, with non-qualifying balances earning 0.05% APY.

Earned rewards from the Kasasa Cash account are automatically transferred to a linked Kasasa Saver each month. The Kasasa Saver has no monthly maintenance fee or minimum balance requirement and requires a $10 minimum opening deposit. Kasasa Saver accounts are limited to one per Social Security number.

Annual Earnings of Combined Kasasa Cash/Kasasa Saver Accounts

The potential combined annual earnings of the Kasasa Cash Checking (2.00% APY/$15k) and the Kasasa Saver (1.51% APY/$25k) is approximately $677 (1.69% APY/$40k).

It should also be noted that the interest rate of the Kasasa Saver for the portion of the balance over $25k currently earns 0.50% which is close to the rates of many online savings accounts. If a total of $85k is maintained in the Kasasa Saver Account, annual earnings would be approximately $677. Thus, for a total combined balance of $100k ($15k in Kasasa Cash and $85k in Kasasa Saver), the potential combined annual earnings of the Kasasa Cash Checking and the Kasasa Saver is approximately $977 (0.98% APY/$100k).

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.

DIF Deposit Insurance

The Savings Bank offers additional protection for large deposits through its Depositors Insurance Fund (DIF) membership. The DIF is a private, industry-sponsored insurance fund that insures all deposits above Federal Deposit Insurance Corporation (FDIC) limits at Massachusetts-chartered savings banks.


Headquartered in Wakefield, Massachusetts, The Savings Bank offers its Kasasa Cash and Kasasa Saver accounts to all U.S. citizens/residents aliens who live in either Massachusetts or New Hampshire.

Opening a Kasasa Cash and/or a Kasasa Saver account can be done online, or at any of eight full-service Massachusetts branches located in Andover, Lynnfield (2), Methuen, North Reading, and Wakefield (3). According to the “Appointment Banking” page,

You can visit The Savings Bank branches at any time,
or call to set up an appointment at a time that is best for you.

Bank Overview

The Savings Bank has an overall health grade of "A+" at, with a Texas Ratio of 1.52% (excellent) based on June 30, 2020 data. In the past year, the Bank has increased its total non-brokered deposits by $59.07 million, an excellent annual growth rate of 11.78%. Please refer to our financial overview of The Savings Bank (FDIC Certificate # 90291) for more details.

Established in 1869, The Savings Bank was originally known as Wakefield Savings Bank. The Bank’s founder and first president, Cyrus Wakefield, originated the rattan trade in the United States and build a factory in Wakefield, Massachusetts that stretched over seven acres. The Bank rebranded as The Savings Bank in 1989, to reflect the broadening geographic footprint. With assets in excess of $650 million, The Savings Bank is currently the 65th largest bank headquartered in Massachusetts.

How the Kasasa Cash Compares

When compared to the High Yield Rewards Checking Accounts tracked by at banks (excluding credit unions) that are available to all Massachusetts and New Hampshire residents and have maximum qualifying balances of at least $15k, The Savings Bank’s Kasasa Cash APY currently ranks fourth.

The above rates are accurate as of 10/26/2020.

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.

Related Pages: Boston checking accounts, reward checking accounts


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