Posted by Chuck on March 4, 2020
High-Yield APY Accounts

Published on March 4th, 2020 | by Chuck

34

[TX] Texas Bank 2.50% APY Checking On Balances Up To $50,000

Update 3/20/20: Down to 2.50% now.

Update: Just after this was posted the bank lowered the rate from 4% to 3.56%, presumably due to the .5% fed rate drop.

Offer at a glance

  • Interest Rate: 3.56% APY
  • Maximum Balance: $50,000
  • Availability: TX
  • Direct deposit required: None (one ACH)
  • Additional requirements: 12 debit card transactions, online sign in
  • Hard/soft pull: Unknown
  • ChexSystems: Unknown
  • Credit card funding: Unknown
  • Monthly fees: None
  • Insured: FDIC

The Offer

Direct Link to offer

  • Texas Bank Financial has their Kasasa Cash checking account which offers 3.56% APY on balances up to $50,000 when you meet the following requirements:
    • At least 12 monthly qualifying debit card transactions.
    • At least one ACH (in/out) per month (no minimum dollar amount).
    • Sign in to online banking at least once per statement cycle.

Avoiding Fees

There are no monthly fees. The account even refunds ATM fees, up to $25 per month.

Our Verdict

Pretty easy requirements and large $50,000 limit on the 3.56% rate. This is a really good deal for Texans. I don’t see the requirements on the bank site, but reader d4 tells us of those requirements. We’ll add it to our List of Best Savings Rates.

Hat tip to reader d4



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AndreRamirez
AndreRamirez

Jeez…guess everything really is bigger in Texas.

Looney Tunes
Looney Tunes

“Texas Bank Financial is only accepting applications from residents of the State of Texas”.

Not nationwide.

Chris
Chris

They are merging with another bank and it’s expected to be completed Q2, so this account may not last long. I still plan on signing up since amazon reloads work.

AC
AC

Tried to load $100 with a Chase card for the initial deposit and it was declined. Debit card went through

Henry
Henry

Stupid question, does Kasasa bank has any requirement on debit card transaction? like minimum amount, need to be from different seller

LikeToLearn
LikeToLearn

I have had this acct for a few months already. A lady at the headquarters told me that someone does a manual review to see if the debit card spending makes sense. They don’t require a min spend, but for example, they saw someone doing several gasoline transactions of a few cents each all right in a row–when they see something like that they send a warning letter and if doesn’t change to a normal looking pattern after that the acct might not qualify. I think the wording is strong in the disclosures. I use it for small purchases like fruit and coffee, etc–no problems—I’ve never done it for large amts—I wouldn’t try Amazon refills with this one.

Trevor
Trevor

I can see this getting nerfed.

A M
A M

Yeah. I’m going to wait a day or two. Though Kasasa is known for high rates, right? Anyone know how long this rate’s been around at this bank?

Trevor
Trevor

I called it! Less than a day and it drops lol.

AC
AC

After opening the account I was told the rate has been decreased from 4% to 3.5%

Mike
Mike

Shows 3.50% as of when I checked just now. Due to fed rate cut? May have changed overnight.

Arty
Arty

it changed in less than 10 min ago. Not worth it. They might drop it down to 1.5 next week

Feel TheJimm
Feel TheJimm

Or they might not…..

Zauch
Zauch

Soon bank would charge 0.25 to keep the money if the Feds keeping playing the rates.

George
George

Anyone know if this rate is guaranteed until a certain time (like the previous Origin Bank offer)?

Jin
Jin

I think this is already out of date. When applying, I received an email with the following text in the signature:
Please note that the rate for our Kasasa Cash product has decreased from 4.00% to 3.50%.

George
George

Link showing 3.5%

Danno
Danno

“3.50% APY up to a balance cap of $50,000” Probably just dropped with the Fed drop.

Edit: Should have checked if anyone else posted this before I did haha

Betelgeuse ㊙️

Chuck this is now 3.5%

Feel TheJimm
Feel TheJimm

Calm down. Half percent on $50,000 is a half per cent. People need to do numbers. You will be surprised…..how much little it matters. 3.5 % is a Great rate.

Frank
Frank

Particularly when it’s only 1:1 for the FED rate. Also makes it less likely they do another rate cut. If this had been posted at 3.5% people would have been thrilled

767
767

Anyone have success opening an account by physically going to a branch as an out of state resident? Have a trip coming up to Texas next month.

Jason
Jason

12 debit transaction. Does it have a minimum amount requirement? If so does amazon $.5 reload work?

Jason
Jason

DP. opened this account today. before approval I was requested to provide a copy of DL and utility bill for verification. The shipping of consent material and the following debit card is expected to be done in two weeks presumably. For the 12 debit transaction requirement, there is no minimum amount.

Jason
Jason

I want to open an account, but don’t have utility bill with my name on it. I have drivers license will I be able to open one still? Is there an alternative to utility bill?

DingDingDang
DingDingDang

Reloads work like a Charm.

Jason
Jason

thanks!

cottonag
cottonag

I opened this account in Decmber and have used small gas purchases of $2.00 and a few reloads at $2.00to $3.00 and have received the 4% interest. I know the rate went down .5% but it is still an easy 3.56%

Kevin
Kevin

hard pull or soft pull?

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