Update 2/24/21: Down to 2% now.
Offer at a glance
- Interest Rate: 2.5% APY
- Minimum Balance: None
- Maximum Balance: $25,000
- Availability: Nationwide
- Direct deposit required: No, ACH credit or debit transaction works
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Insured: FDIC
The Offer
- The Bank of Denver is offering 3% APY on balances up to $25,000 when the following requirements are met each qualification cycle:
- At least 12 debit card purchases
- At least 1 ACH credit or debit transaction
- Be enrolled in and agree to receive e-statements
Avoiding Fees
This account has no monthly fees to worry about
Our Verdict
Need to know if it’s a hard or soft pull. This can be opened nationwide but personally I can’t see this rate lasting too long if that’s the case. We will add this to the best high yield savings accounts.
Did anyone keep a copy of the Cycle Date Information that shows the Kasasa cycle would end this month on 09/21/2021? I’m sure it was that way originally and I marked it on my calendar, but it now shows and did end as 09/14/2021.
I just contacted The Bank of Denver, the checking APY is 2%, the saving is 1%. Any idea what better APY account I should switch to?
@William Charles @Chuck Rate dropped to 2%. Please update. Thanks.
Updated, thanks
And the debit purchases need to be >$5 🙁
Weird question on the new $5 debit card terms – when they originally sent out the changes in December, the e-mail stated has to be “$5.00 or more.” But the new e-mail today and their website both show “greater than $5.00.” Anyone have an idea if $5.00 exactly will qualify or not?
For everyone posting about the incorrect interest from the last cycle (1/20): I spoke to a rep, it was a mistake on everyone’s Kasasa account, related to the the $5 requirement and the effective date. They should be fixing everyone’s account and crediting the correct interest.
However, as of the cycle that starts 2/18, the interest rate is dropping to 1.98%
Yep, they manually credited the interest now.
I just sent an email to them pointing out the $5 requirement was effective Jan 21 per their email communication. I think you all should email them requesting for the high interest for last month.
Credited interest for last statement hit – didn’t get the increased rate despite hitting the old requirements. I’m actually in Denver, got the phone call this morning with courtesy reminder that $5 minimum per transaction required next billing period, but seemed like this one should still have been under the old one per the rep. Further nerfing: got an email yesterday that rates are dropping yet again as of next billing cycle (Feb).
Credited interest for last statement hit – didn’t get the increased rate despite hitting the old requirements. I’m actually in Denver, got the phone call this morning with courtesy reminder that $5 minimum per transaction required next billing period, but seemed like this one should still have been under the old one per the rep. Further nerfing: got an email yesterday that rates are dropping yet again as of next billing cycle (Feb).
Received my 12/20 – 1/21 statement, did not get interest even though I completed the old requirement (12 debit transactions with no min.)
Same here. Met requirements but didn’t earn the higher rate. I can’t believe it, someone from the bank called me in the morning to remind me of the new requirements, she even said herself that my spending pattens were varied so i should be fine.
Same here. Didn’t meet the new requirement. Didn’t they postponed the new requirement to Jan 20th?? 🙁
Via email, effective Feb. 18, APY dropping to 2 percent for first $25k