Recently I heard Dave Ramsey endorse a checking account called Perkstreet. After reading the fine print, I was a little discouraged to find you need a $5,000 minimum balance every month in order to earn 2% back, or 5% from selected vendors. I think most of the population would be saying no thanks.
Some community banks are now offering a program called Kasasa. I am really impressed!
Kasasa checking accounts average 3-5% cash back when certain conditions are met (which are actually quite reasonable). This is a great option for those of us who are chopping the credit cards, and are being more deliberate in a cash-spending mindset. If you meet the following 4 conditions, this is a great way to get CASH back every month! Doesn't matter what you buy, or from where.... money that you will spend anyways.
1. Make 10 debit card transactions / month (some banks require 12 or 15)
2. Make 1 automatic bill pay transfer, automatic transfer, OR direct deposit transfer / month
3. Receive your monthly statement online
4. Log into your online account at least once
There is no minimum balance requirement, and you still earn a base interest rate, even if you don't meet all 4 requirements listed above. Some banks have only 2 of these requirements. Oh, and the program says they refund ATM fees.
To find a bank in your area that offers Kasasa accounts, go to kasasa.com, or checkingfinder.com.
Do you Kasasa?
Thanks for the post, Hannah! We love to hear what people have to say about our accounts, and you put it perfectly: “a great option for those who are being more deliberate in a cash-spending mindset.” We know you need better banking options these days AND you need community banks and credit unions that give YOU something back for trusting them with your money.
ReplyDeleteThanks for helping us raise awareness for Kasasa. We don’t even have to ask. Hannah Kasasas. ☺