Founders Bank of Texas's "Kasasa" checking account

July 8, 2009 1 Comment »

founders bank kasasaUpdate – The Founders Bank of Texas has merged with Vista Bank and is no longer offering it’s “Kasasa Checking Account” nationwide. It is only currently available for Texas residents and the APY has dropped substantially. Refer to our archives of rewards checking deals to find current offers near you!

- Offer from Archive -

Below is another high interest bearing checking account available to customers nationwide.

Founders Bank of Texas’s “Kasasa Checking Account” is a pretty standard rewards checking account in regards to monthly requirements, however it has a larger maximum balance allowance than most of these products on the market.

If you are a frequent BankVibe reader and have been researching rewards checking accounts lately, then you probably know that most of these accounts entice potential customers with an abnormally high interest rate up to a certain “maximum balance.” These balances can range anywhere from $10k to sometimes $50k. Founders Bank of Texas, however, has set theirs up so that it pays off in tiers.

With the Kasasa Checking from Founders Bank of Texas, the first $10,000 of your balance will receive a very lucrative 5.01% APY, while the second tier (anything above $10k) pays a still respectable 2.25% APY. You will have to calculate your overall APY with different balances to project your earnings, but here are some potential earnings for various balance amounts:

For balances of $10,000 receive 5.01% APY

For balances of $20,000 receive 3.63% APY

For balances of $50,00 receive 2.82% APY

For balances of $70,000 receive 2.64% APY

For balances of $100,000 receive 2.53% APY

For balances of $200,000 receive 2.39% APY

Features of Kasasa checking through Founders Bank of Texas:

(as seen on promo page)

  • Free Checking
  • No Minimum Balance
  • Free Debit Card
  • Reimbursements on ATM fees nationwide

Requirements to earn advertised interest rate:

  • Minimum of 10 debit card purchases (ATM usage does not count toward the 10 purchases)
  • 1 Automatic Payment or Direct Deposit transfer
  • Receive your monthly account statement electronically
  • Sign in to your online banking account at least once

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  • Tiffani

    I’m getting really competitive rates with a product called easyGROW Checking at First Bank & Trust. You can go to http://www.easyGROWchecking.com for the info (including the current interest rate); but to summarize, it is a free high-yield account that also offers ATM fee refunds when I meet the three qualifications: using my debit card at least ten times, receiving e-Statements, and having a least one direct deposit or automatic payment each cycle. I do all of those things anyway, so it’s been really easy for me to qualify…and they send me an email each month to let me know if I met the qualifications. I have to admit, I love not having to worry about whether or not an ATM is on my network, and the interest is already starting to add up. It only takes $100 deposit to open the account, and there is no minimum balance.