The Best Kasasa Checking Accounts in 2020

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Updated on Tuesday, October 13, 2020

A Kasasa checking account is a special type of banking product that is only available at certain credit unions and community banks. Kasasa checking accounts are free and offer various rewards, such as cash back or online shopping credits. Additionally, Kasasa checking accounts offer nationwide refunds on ATM withdrawal fees.

What is a Kasasa checking account?

Developed by the Kasasa Corporation, a Texas-based financial services and marketing organization, Kasasa accounts help smaller banks compete against larger rivals by providing special features desired by consumers. In exchange for providing rewards and other benefits, Kasasa accounts require qualification. Typically, customers must enroll in online banking and/or electronic statements and undertake a certain number of monthly transactions, such as 12 debit card purchases and one or more ACH transactions.

While every Kasasa checking account comes with no monthly maintenance fees and national ATM fee rebates, the particulars of each individual bank or credit union’s account can differ. As banking is a competitive landscape, even among institutions that offer Kasasa accounts, rates and benefits will vary.

Here’s a look at the top Kasasa checking accounts, including both regionally available accounts and nationally available accounts. To select the best, we looked for Kasasa accounts that offered the highest APYs and generous rewards.

Top regionally available Kasasa checking accounts

InstitutionAvailabilityAPY

Chief Financial Credit Union

Michigan5.00%

Kellogg Community Credit Union

Michigan4.25%

Kalsee Credit Union

Michigan4.25%

Pelican State Credit Union

Arkansas, Louisiana, Mississippi, and Texas4.25%

Timberline Federal Credit Union

Arkansas 4.00%

Chief Financial Credit Union Free Kasasa Cash Checking

  • 5.00% APY
  • $0 minimum
  • $5,000 maximum
  • Available in the Kalamazoo, MI region

Chief Financial Credit Union serves the greater Detroit metro region. Chief’s Free Kasasa Cash Checking account pays you 5.00% on balances up to a maximum of $5,000, and an APY of 0.39% on the balance over this threshold. Chief will also refund up to $25 in third-party ATM fees every month.

To get the highest rate, you must receive electronic bank statements, and every month make at least 12 debit card purchases that post and settle, and log into you online banking account. Membership in Chief Financial is open to residents of the greater Detroit metro region, and selected other communities in the State of Michigan.

SEE DETAILS Secured

on Chief Financial Credit Union’s secure website

NCUA Insured

Kellogg Community Credit Union Kasasa Cash Account

  • 4.25% APY
  • $0 minimum
  • $7,500 maximum
  • Available in western Michigan

Kellogg Community Credit Union has been providing counties in western Michigan with financial services since 1941. The bank currently offers three types of Kasasa accounts, although it’s Kasasa Cash account is a real winner, paying an impressive 4.25% APY on balances up to $7,500. The portion of your balance above this threshold earns 0.25% APY.

To receive the reward APY, you must agree to receive eStatements, and be enrolled in online banking. Every monthly cycle, you must make at least 12 debit card purchases, log into your online account, and have at least one direct deposit of $500 or more. You must also have a valid email address on file.

Membership in Kellogg Community Credit Union is open to those who live, work, worship, or attend school in, and businesses or other legal entities located in the Michigan counties of Allegan, Barry, Berrien, Branch, Calhoun, Cass, Ionia, Kalamazoo, Kent, St. Joseph, Montcalm, Muskegon, Newaygo, Ottawa or Van Buren.

SEE DETAILS Secured

on Kellogg Community Credit Union’s secure website

NCUA Insured

Kalsee Credit Union Kasasa Cash+ Account

  • 4.25% APY
  • $0 minimum
  • $25,000 maximum
  • Available in the Kalamazoo, MI region

Kalsee Credit Union serves the Kalamazoo, MI region with a full menu of financial products. Kalsee offers four Kasasa accounts: Kasasa Cash+, Kasasa Cash, Kasasa Cash Back and Kasasa Saver. The credit union’s Kasasa Cash+ checking account earns 4.25% APY.

To get the highest rate, you’ll have to open a Kasasa checking account, make 24 debit purchases per month, sign up for electronic account statements, log on to your account at least once per month, and receive direct deposits totaling at least $1,000 per month. You can earn the 4.25% APY on balances up to $25,000, while balances above this threshold earn 0.35% APY. In addition, Kalsee will refund up to $25 in ATM fees incurred at domestic ATMs.

Membership in Kalsee Credit Union is open to anyone who lives, works, or attends school in the Michigan counties of Allegan, Barry, Branch, Calhoun, Cass, Kalamazoo, St. Joseph, or Van Buren.

SEE DETAILS Secured

on Kalsee Credit Union’s secure website

NCUA Insured

Pelican State Credit Union Kasasa Cash Account

  • 4.25% APY
  • $0 minimum
  • $7,500 maximum
  • Available in Arkansas, Louisiana, Mississippi, and Texas

Headquartered in Baton Rouge, Louisiana, Pelican State Credit Union serves the local community with a full menu of financial products. Pelican’s Kasasa Cash checking account earns 4.25% APY on up to $7,500, one of the highest available rates we’ve found in our research. Anything over that amount will get you 0.76%. As a bonus, you’ll be reimbursed for all ATM transactions up to $4.99 apiece.

To get this rate, you’ll have to sign up for electronic account statements and every monthly cycle make 15 debit purchases per month, log on to your online account at least once, and receive at least one direct deposit or other automatic payment, or make one online bill payment. If qualifications aren’t met in any given month, your balance earns 0.05% APY. Best of all, Pelican offers unlimited refunds of third-party ATM fees incurred nationwide.

Membership in Pelican State Credit Union is open to residents of Arkansas, Louisiana, Mississippi, and Texas who join one of four local charitable organizations. Membership also extends to anyone working for the institution’s employer partners.

SEE DETAILS Secured

on Pelican State Credit Union’s secure website

NCUA Insured

Timberline Federal Credit Union

  • 4.00% APY
  • $20 minimum
  • $15,000 maximum
  • Available in Arkansas

Timberline Federal Credit Union is an Arkansas-based credit union offering a competitive rate of 4.00% APY on its Free Kasasa Cash Checking account. The 4.00% APY applies to balances up to $15,000 and in order to earn the full APY, you must make 12 debit card purchases during the monthly qualification cycle and be enrolled in and log into online banking. If qualifications aren’t met, you will earn an APY of 0.05%.

Additionally, this account does not charge any monthly maintenance fees, and provides up to $25 per month in rebates on ATM withdrawal fees nationwide. There is a $20 minimum deposit required to open this account.

Membership to Timberline Federal Credit Union is open to anyone who lives, works, worships or attends school in any of the following counties in Arkansas: Ashley, Bradley, Calhoun, Chicot, Cleveland, Dallas, Desha, Drew, Lincoln and Union.

SEE DETAILS Secured

on Timberline Federal Credit Union’s secure website

NCUA Insured

Top nationally available Kasasa checking accounts

InstitutionAvailabilityAPY

Security State Bank (KS)

Nationwide3.00%

First National Bank of Jeanerette

Nationwide3.00%

Industrial Bank

Nationwide2.50%

Bay State Savings Bank

Nationwide2.01%

First Security Bank & Trust

Nationwide2.01%

Security State Bank Kasasa Cash Account

  • 3.00% APY
  • $100 minimum
  • $10,000 maximum
  • Available nationwide

Security State Bank is a full-service community bank located in Scott County, KS. Nevertheless, Security State’s Kasasa Cash checking account is available nationwide, and earns a respectable 3.00% APY on up to $10,000 — anything over that amount will pay you 0.25%. The Kasasa account has a $100 minimum deposit to earn rewards, including $25 in ATM reimbursements. All you have to do is post 12 debit card purchases in each monthly qualification period, enrollment in electronic statements and log on to online banking every month to qualify for rewards.

SEE DETAILS Secured

on Security State Bank (KS)’s secure website

Member FDIC

First National Bank of Jeanerette Free Kasasa Cash Checking

  • 3.00% APY
  • $100 minimum
  • $10,000 maximum
  • Available nationwide

The First National Bank of Jeanerette is a small community bank located in Louisiana, but they’ll let anybody open a free Kasasa Cash Checking account with them. Paying a decent 3.00% APY on balances up to $10,000 (and 0.25% on any balances above), the bank will also refund up to $25 in third-party ATM fees. All you need is to agree to receive electronic banking statements, and every month make at least 12 debit card purchases and complete at least one ACH deposit or bill pay transaction.

SEE DETAILS Secured

on The First National Bank Of Jeanerette’s secure website

Member FDIC

Industrial Bank Kasasa Cash Checking

  • 2.50% APY
  • $25 minimum
  • $15,000 maximum
  • Available nationwide

With Industrial Bank, located in Washington, D.C., you’ll earn 2.50% on up to $15,000 in cash. Anything above that will earn you 0.25%. You’re also eligible for ATM reimbursements (up to $25) if you meet all the monthly APY requirements: You must enroll in and receive statements, enroll in and log into online banking and have at least 12 debit card purchases post and settle to your Kasasa account.

SEE DETAILS Secured

on Industrial Bank’s secure website

Member FDIC

Bay State Savings Bank Kasasa Cash

  • 2.01% APY
  • No minimum to open an account
  • $20,000 maximum
  • Available nationwide

Earn 2.01% on your first $20,000 with Bay State Savings Bank. Qualify for this APY and ATM reimbursements by enrolling in e-statements, logging into your account at least once a cycle and having at least 12 debit card PIN-based, signature-based or online purchases post and settle.

SEE DETAILS Secured

on Bay State Savings Bank’s secure website

Member FDIC

First Security Bank & Trust Kasasa Cash

  • 2.01% APY
  • $100 minimum opening deposit
  • $50,000 maxmium
  • Available nationwide

Based out of Charles City, Iowa, First Security Bank & Trust offers a bank account that anyone in the country is eligible to open. The bank was founded in 1903 and only operates a few branches within Iowa, but you can still open an account and manage it online from anywhere.

To qualify for the high rate, which is valid on the largest amount of all our top picks, you’ll need to keep your email address current with the bank, sign up for e-statements, have at least one ACH deposit and use your debit card for purchases 18 times. If you don’t meet those requirements, you’ll earn a lower rate of 0.05% APY. Additionally, anything over $50,000 will drop your rate to 0.20%. In addition, if you meet the requirements, you can have up to $25 per month in ATM fees refunded.

SEE DETAILS Secured

on First Security Bank & Trust’s secure website

Member FDIC

The bottom line: Are Kasasa checking accounts worth it?

Kasasa accounts can offer great benefits to customers who qualify. If you’re already making the required transactions, such as 12 debit card purchases per month, Kasasa accounts are something of a no-brainer, as they offer rewards, carry no monthly fees and reimburse domestic ATM withdrawals.

However, for those who might have to stretch to qualify for a Kasasa account, it might pay to shop around, as there are plenty of competitor accounts that also charge no monthly fees. Each individual customer will have to weigh out the benefits of a high interest rate – or one of the other Kasasa rewards – against the transaction requirements.

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