[TX only] Affiliated Bank (Now Susser Bank) 2.00% APY On Balances Up To $50,000

Update 10/21/20: Rate has been increased back up to 2.00% APY.

Update 3/20/20: Rate reduced down to .75% now.

Update 3/10/20: Rate reduced from 4.05% to 2.00%.

Offer at a glance

  • Interest Rate: 4.05% APY
  • Minimum Balance: None
  • Maximum Balance: $50,000
  • Availability: Must be a resident of Texas
  • Direct deposit required: Yes or ACH payment
  • Additional requirements: See below
  • Hard/soft pull: Unknown
  • ChexSystems: Unknown
  • Credit card funding: Unknown
  • Monthly fees: None
  • Insured: FDIC

The Offer

Direct link to offer

  • Affiliated Bank is offering 4.05% APY on balances up to $50,000 when you complete the following requirements:
    • At least 1 direct deposit or ACH payment transaction
    • At least 12 debit card purchases
    • Be enrolled in and agree to receive E-Statements

 

Avoiding Fees

This account has no monthly fees to worry about.

Our Verdict

Seems like it’s relatively easy to trigger the requirements and it’s nice that the maximum is $50,000.

Hat tip to reader missjenniferd1

 

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Evilbob
Evilbob

It’s just a Kasasa bank account with the annoying debit card requirements now

veeRob

Now called Susser Bank

William Charles

Greg
Greg

Looks like it is still 2% so could be ok? anybody have a hack on how they do the 12 debit card purchases during Covid?

veeRob

Do you have Citibank credit cards?

Greg
Greg

yes

AF
AF

This bank is a joke. They had huge swings in APR past 12 months (more than 1% each time). They also changed high APR requirements several times too.

Blueskies
Blueskies

I got an email from them today and seems they decided to go back to the 2%. I still consider it a bad deal – low rate and still wanting (12) $5.00 min. debit charges to boot, but that’s me – it might look good to someone else.

veeRob

I agreed with you in July, but here in September 2% seems pretty damned good. I guess I’ll be getting back on the 12 debit transaction train as there doesn’t seem to be anything better coming.

veeRob

William Charles 2% hasn’t been updated on this page and on the best high yield page FYI

Chuck

I’ll update, thanks

Kevin Smith
Kevin Smith

received an email today (July 23) from Affiliated Bank and it reads:

Your NEW Kasasa Cash Rate:

2.00% APY* for balances up to $50,000, when qualifications are met:

At least 1 direct deposit or ACH payment transaction
At least 12 debit card purchases of $5.00 or more
Be enrolled in and agree to receive E-Statements

PZ
PZ

I called Affiliated and they said the new 0.75% interest applies to all kasasa reward checking accounts, new and existing.

William
William

William Charles Chuck Rate is down to 0.75% APY officially on their website.

However, still showing 3.977% APY when I log into my existing account as of 3/20/20.

Chuck

Updated

Haibin
Haibin
Kevin Smith
Kevin Smith

Time to transfer all the money out. Do they have early account closing fee?

Blueskies
Blueskies

I don’t believe there was. I did not close my account, but left a dollar in it because if I had closed it I would not have gotten my interest for the month. I withdrew my interest when it hit my account – still left one dollar in the event they might have a change of heart. Then I went to see if they had indeed changed the requirements to include making the debits a min. of $5.00 and that’s when I saw the new APY rate of .75 which I thought had to be a typo but wanted to notify people on here who might be keeping their money in this bank to check it out. I don’t know why they just didn’t discontinue the “rewards” account since it is now what I would call a joke account.

Blueskies
Blueskies

A new winkle here. Out of curiosity I glanced at their new requirements for this account today when I went to withdraw my interest. Just copied this to post here in case anyone decided to leave their money in this bank at the supposed 2% – Reward Information: When your Kasasa Cash account qualifications are met during a Monthly Qualification Cycle, (1) Balances up to $50,000 receive APY of 0.75%; and balances over $50,000 earn 0.25% interest rate on the portion of balance over $50,000, resulting in a range from 0.75% to 0.42% APY depending on the account’s balance . . I’m sure this has to be a mistake, but if I had money in this account I would be calling the bank on this. It might be they decided to drop it to 1.75 and left off the 1, who knows? But just a heads up in case this bank is serious on this.