Washington State Bank (WSB) began offering Kasasa brand products about 18 months ago. The Free Kasasa Cash account had an initial 1.25% APY, which was raised to 3.15% APY on qualifying balances up to $15k in March 2019; that rate is still in effect. Qualifying balances over $15k earn 0.50% APY, with all non-qualifying balances still earning 0.05% APY.
|3.15*%||-||$15k||Washington State Bank (LA)||Free Kasasa Cash Checking|
|OTHER TIERS: 0.50% → $15k+|
The monthly qualifying requirements do not include a direct deposit.
- Have at least 12 debit card purchases
- Be enrolled in and log into online banking
- Be enrolled in and agree to receive e-Statements
The Free Kasasa Cash has no monthly service fee, minimum balance requirement, or minimum opening deposit. Unlimited nationwide ATM fees will be reimbursed monthly up to an aggregate total of $25, with individual ATM fees of $5 or higher requiring a receipt for reimbursement. There is a limit of one account per Social Security number.
Free Kasasa Saver Account
WSB’s Free Kasasa Saver account currently earns 1.25% APY on qualifying balances up to $25k. Qualifying balances over $25k earn 0.50% APY, with non-qualifying balances earning 0.05% APY.
|1.25*%||-||$25k||Washington State Bank (LA)||Free Kasasa Saver|
|OTHER TIERS: 0.50% → $25k+|
The Free Kasasa Saver account is a companion account to the Free Kasasa Cash account and does not have a minimum opening deposit requirement. Earned interest on the Free Kasasa Cash account is automatically transferred to the Free Kasasa Saver account each month. There are no recurring monthly maintenance charges or fees to open or close the Free Kasasa Saver account.
Annual Earnings of Combined Free Kasasa Cash/Saver Accounts
The maximum potential combined annual earnings of the Free Kasasa Checking (3.15% APY/$15k) and the Kasasa Saver (1.25% APY/$25k) is approximately $785 (1.96% APY/$40k).
The Kasasa Brand
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.
Headquartered in Washington, Louisiana, Washington State Bank offers its Kasasa brand products to the residents of Acadia, Avoyelles, Evangeline, Iberia, Lafayette, Saint Landry, and Saint Martin Parishes.
Opening a Free Kasasa Cash/Kasasa Saver account can be done online. As of July 1, 2020, the lobbies of the seven Louisiana branches (Arnaudville, Eunice, Lafayette, Leonville, Opelousas, Palmetto, and Washington) are temporarily closed to walk-in traffic.
Washington State Bank has an overall health grade of "B" at DepositAccounts.com, with a Texas Ratio of 15.40% (above average) based on March 31, 2020 data. In the past year, WSB has increased its total non-brokered deposits by $15.37 million, an excellent annual growth rate of 9.06%. Please refer to our financial overview of Washington State Bank (FDIC Certificate # 9326) for more details.
Founded in 1893, Washington State Bank is the oldest state-chartered bank in St. Landry Parish, and the second oldest state-chartered bank in Louisiana. At that time, Washington was a small but important town, serving as the hub for trade in the Parish. WSB has remained an independent, locally-owned community bank through its 127 years of operation. Currently the 64th largest bank in Louisiana, Washington State Bank has assets in excess of $214 million.
How the Free Kasasa Cash Compares
When compared to the High Yield Reward Checking Accounts tracked by DepositAccounts.com, which are available within the market area and have maximum qualifying balances of at least $15k, Washington State Bank’s Free Kasasa Cash APY currently ranks third.
|Interest Rate||Account Name||Credit Union/Bank|
|3.30% APY||Vertical Checking (up to $20k)||Evansville Teachers Federal Credit Union|
|3.25% APY||Panorama Checking (up to $15k)||Western Vista Federal Credit Union|
|3.15% APY||Free Kasasa Cash (up to $15k)||Washington State Bank|
The above rates are accurate as of 7/30/2020.
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.