Southern Bank Drops Kasasa

Clair | May 31, 2021 | 9 posts since 2020

https://bankwithsouthern.com/

Per a note on statement, Southern Bank (Missouri, Arkansas, Illinois) has renamed their Kasasa Cash account to Southern Cash. Quote:

"Your Kasasa Cash account has been renamed to Southern Cash. Don't worry, nothing else has changed. You'll continue to enjoy all the current features of the account."

The Southern Bank website does not display any info on the old Kasasa Cash or the new Southern Cash accounts. And therefore there are no interest rates listed for these, which means they can easily change the interest rate behind your back.

There is a new account called Southern Advantage, paying 2.01% up to $25k if 20 transactions. https://bankwithsouthern.com/checking-and-savings/southern-advantage/

Account available to residents of Missouri, Arkansas, and Illinois only.

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darkdreamer4u | Jun 2, 2021 | 351 posts since 2010

Hm, just checked my statement and there's no note about any changes. My account is still called Premium Rewards and has been called that way for some time. But I agree about no mention of Kasasa on their home page and the introduction of the new Southern Advantage as of June 1st. It's basically the same account as the Kasasa except you need to make 20 instead of 12 debit card charges. At least the cap has increased from 15k to 25k, which is a welcome change. Let's hope they grandfather us in and change our accounts to the Southern Advantage if they change anything.

darkdreamer4u | Jun 2, 2021 | 351 posts since 2010

Also, a search for Kasasa on their website gets you a link:

'Free Kasasa Cash | Southern Bank'
"Southern Bank's Kasasa Cash high-interest checking account is designed to pay you a specific amount of interest. Discover how much you could earn today."

And that link takes you straight to the Southern Advantage page with the description of that new account.

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