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Save More Money With A Kasasa High Interest Checking Account

Have you ever heard of Kasasa? I’m willing to bet a great number of people who read this post would answer no. A Kasasa checking account is a lot like your typical checking account except with a Kasasa account you will earn interest on your account balance. I am talking about interest rates that are higher then what you would get from a CD or Money Market Account. Kasasa accounts are free and available at hundreds of banks across the country.

The interest rate on a Kasasa account varies from bank to bank (or credit union). You will typically see rates from 2% up to 4%. My personal Kasasa account earns 2.5% (My girlfriend Monica’s account earns 3%). Compare that to my traditional checking account which earns a putrid 0.05%. Kasasa accounts also have a limit on the account balance which is eligible for earning interest. I have seen many accounts that earn interest on up to $10,000. Anything over $10,000 earns a much…much lower rate of interest. The ceiling on my personal account is $25,000. If you plan on having more then $10,000 in the account then you may want to shop around but also be aware of the different interests rates to make sure you are getting the most bang for your buck.

Kasasa accounts do have a few requirements you must meet each month in order to earn the advertised interest rates. Typically these requirements include:

  • Enroll in e-statements. This means you will NOT receive statements in the mail.
  • Have at least 1 direct deposit or ACH transfer each month. For most people this can simply be your paycheck from your employer. For me, being self employed, I just transfer money from a Paypal account once a month and that qualifies for this requirement.
  • Make a minimum number of purchases each month. I have seen this requirement most often be 10 purchases however Monica’s account requires 12 purchases.
  • If you do not meet the requirements in any given month you simply do not earn the advertised interest rate for the account that month. There is no fee or penalty for not meeting the requirements above.

    A great resource for finding the best Kasasa account for your needs is They have a list of over 700 banks and credit unions that offer Kasasa checking accounts. You can sort the list by state and by the maximum interesting earning balance of the accounts. Be aware that many banks allow you to open accounts online so if the best Kasasa account is from a bank in Alaska and you live in Iowa you can still in many cases open an account and take advantage of their Kasasa account.

    Here is an interest rate calculator you can use to determine how much you would earn from your available funds each year,

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