Offer at a glance
- Maximum bonus amount:Â 2% APY
- Availability:Â Nationwide
- Additional requirements:Â 12 debit transactions, e-statements, login
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding:Â Unknown
- Monthly fees:Â None
- Insured: FDIC
The Offer
- 5Star Bank offers a 2% APY rate in their Kasasa Checking account on balances up to $25,000
To be eligible for the 2% rate, the following qualifying activities are necessary:
- Have at least 12 debit card purchases post and settle
- Be enrolled in and agree to receive eStatements
- Be enrolled in and log into online banking
Aside from the 2% APY on the savings account, there’s also an ATM refund benefit on the account, up to $25 per month when qualifications are met.
The Fine Print
- If qualifications are not met on Kasasa Cash all balances earn  a non-compounding 0.01% APY
- Qualifying transactions must post to and settle in Kasasa Cash account during monthly qualification cycle. Transactions may take one or more banking days from the date transaction was made to post to and settle account. ATM-processed transactions do not count towards qualifying debit card transactions.
- “Monthly Qualification Cycle” means a period beginning one day prior to the first day of the current statement cycle through one day prior to the close of the current statement cycle.
Our Verdict
The bank is located in Colorado, but their application page seems to allow anyone from USA to apply (it has all states in the dropdown). We don’t know if they do a hard pull to open the account. The qualifications are relatively easy to complete; once setup with e-statements you’ll just have to login once per month and meet the 12 debit requirement.
This is another good nationwide high-yield option. There are some better ones as listed in our (recently updated) list of Best High Interest Savings Account, though the $25k limit is from the better limits available. We’ll add this one to the list there.
Hat tip to Depositaccounts
