Kasasa Saver is perfect for you if you:
- Choose Kasasa Cash as your free checking account (whether you already have it or want to open both today)
- Want two high-interest accounts (Kasasa Cash and Kasasa Saver) both working hard to help you save
- 2.55% APY* on balances up to $15,000 in your Kasasa Cash account
- 0.50% APY* on amount of balance over $15,000 in your Kasasa Cash account
- .75% APY* on balances up to $10,000 in your Kasasa Saver account
- 0.25% APY* on balances over $10,000 in your Kasasa Saver account
- 0.01% APY* if qualifications are not met
- No minimum balance
- Nationwide ATM fee refunds - up to $15 per month (automatically deposited into your Saver account)
To easily grow your savings with 2.55% APY* from Kasasa Cash and .75% APY* from Kasasa Saver, do the following each monthly qualification cycle:
- Have at least 12 debit card transactions post to and clear your account
- Have at least 1 ACH debit post and settle to your account
- Receive monthly e-statements
- Access Kasasa 360 Money Management Tool at least once during the monthly qualification cycle when available
There's no penalty for not qualifying in a given cycle and the accounts are always free! Plus, you will earn a base rate of 0.01% APY* on your checking balance which will automatically be deposited into your Saver account, which also earns a base rate of 0.01% APY*. You can get right back to making 2.55% APY* on your free Kasasa Cash account and .75% on your Kasasa Saver account and enjoying ATM fee refunds the next cycle you qualify.
*APY=Annual Percentage Yield.
At our discretion, we may change the interest rates for this account. TIER 1 - An interest rate of 0.250% will be paid only for that portion of your daily balance that is $10,000.00 or more. The annual percentage yield (APY) for this tier will range from 0.75% to 0.30%, depending on the balance in the account. TIER 2 - An interst rate of 0.750% will be paid on the entire portion of your daily balance that is less than $10,000.00. The annual percentage yield (APY) for this tier is 0.75%.
The interest rate(s) and annual percentage yield(s) are accurate as of June 12, 2013. If you would like more current rate and yield information, please call us at (217) 857-3166. The interest rates and annual percentage yields may change at any time.
Additional Rate Information - The interest rate and APY that apply to your Kasasa Saver account iwll be determined based on whether you have met the qualification criteria for your Kasasa Cash account. When the Kasasa Cash qualifications are NOT met, the interest rate on your account will be 0.01% and the annual percentage yield will be 0.01%. When the Kasasa Cash qualifications are met, the interest rate on your Kasasa Cash account and corresponding annual percentage yield will be tiered as described above.
Compounding frequency - The interest will compoud daily.
Crediting frequency - Interest will be credited into this account monthly.
Effect of closing an account - If you close your account before interest is credited, yuou will not receive the accrued interest.
Daily balance computation method - Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
Accrual of interest on noncash deposits - Interest will begin to accrue on the business day you deposit noncash items (for example, checks) into your account.
Minimum balance to open - The minimum balance required to open this account is $100.00.
Deposit limitations - You may make an unlimited number of deposits into your account.
Limitations on frequency of transfers - During any calendar month, you may not make more than six withdrawals or transfers to another account of yours or to a third party by means of a preauthorized or automatic transfer or telephone order or instruction, or by check, draft, debit card or similar order to a third party. If you exceed the transfer limitations set forth above in any statement period, your account will be subject to closure by the financial institution.
Fees and Charges - The follinwg fees and charges apply to this account:
Excess Activity Fee: Your account will be assessed a $10.00 fee if you exceed the transfer limitations set forth in the "Limitations on Frequency of Transfers" section.
Additional Terms - The following additional terms apply to this account: You must have a Kasasa Cash account in order to open a Kasasa Saver account, and the Kasasa cash account must remain open throughout the period that you hold the Kasasa Saver account. In the event that you close your Kasasa Cash account, we reserve the right to close your Kasasa Saver account. To qualify for preferred rates on your "Kasasa Saver" account, your Kasasa Cash account must meet the requirements listed. Enrollment in online banking and electronic statements is required to meet certain qualifiers. Please contact us for details on how to enroll. Please note that transcations MUST post and settle to your Kasasa Cash account during the monthly qualification cycle in order to receive the preferred rate on both the Kasasa Cash and Kasasa Saver accounts, and to receive ATM fee reimbursements in teh Kasasa Cash account. Transactions may not be in a pending state to qualify as one of the qualifications. Transactions may take one or more banking days from the date the transaction was made to post and settle to an account. Transfers between your accounts with us do not count as qualifying ACH transactions.
If you have met your qualifications for the month, we will reimburse you for domestic ATM fees up to $15.00 per month. ATM fee reimbursements will be credited to your account on the last day of your statement cycle. ATM fees of $4.99 or less will be reimbursed up to a maximum of $4.99 per individual transaction. ATM fees of $5.00 or higher will be reimbursed if the appropriate ATM receipt is presented to a representative at one of our branches. If you believe that you have not been reimbursed the correct amount, please contact us. We must hear from you no later than 30 days after the statement cycle where the reimbursement was applicable. Note: ATM withdrawals do not count as qualifying debit card transactions for purposes of earning rewards within this account.
Your interest earned and any ATM fee reimbursements credited to your Kasasa Cash account will be transferred to your Kasasa Saver account automatically on the banking day following the day they were credited to your Kasasa Cash account.
Monthly Qualification Cycle and Monthly Statement Cycle Explanation: "Monthly Qualification Cycle" means a period beginning one banking day prior to the first day of the current statement cycle through one banking day prior to the close of the current statement cycle. Your account will be automatically qualified on that one day prior to the first day of the current statement cycle. What this means for you is if you did not qualify for the higher preferred rate, you might notice a slightly higher than the base rate APY earned on your statement due to the one day (the last day) being calculated with the higher preferred rate.
Limit one account per SSN.