Kasasa Cash FAQs
What are the rewards of Kasasa Cash Checking?
- 3.76% APY (Annual Percentage Yield) on balances up to $25,000
- 0.76% APY on balances over $25,000
- 0.10% APY on non-qualifying balances (if you do not to meet all the qualifications)
- ATM fees nationwide are automatically refunded at the end of your statement cycle
What are the monthly statement cycle qualifications to receive the rewards on this account?
- Make 12 signature MasterCard debit card purchases per monthly statement cycle (purchases must be posted, not pending -- excludes ATM transactions)
- Set up one Direct Deposit or authorize one automatic payment from your account.
- Enroll and receive your statements electronically. Save them to your computer. See them whenever you like.
- Open your account with a minimum of $100
How often must the qualifications be met to qualify for Kasasa Cash Checking rewards?
Each monthly statement cycle
What happens if I do not meet the qualifications for Kasasa Cash Checking rewards?
Your checking is still free and you can start over next monthly statement cycle to earn the rewards. Interest will be paid at the base rate of 0.10% APY on your balance, and you still receive the 10 free ATM fee refunds.
Are there any monthly service fees?
No. There are no monthly service fees on Community National Bank of the Lakeway Area's Kasasa Cash Checking accounts.
How does the tiered interest rate for Kasasa Cash Checking work?
If you meet the qualifications, you will receive 3.76% APY on balances up to $25,000 and 0.76% APY on balances over $25,000. If you do not qualify, you will earn the base rate of 0.10% APY on your entire balance.
Can the APY change on my Community Rewards Checking account?
Yes, all rates on Community Rewards Checking may change at Community National Bank of the Lakeway Area's discretion.
Is this just a "teaser" rate?
No, this is a high Annual Percentage Yield account. However, Kasasa Cash Checking rates may fluctuate from time to time at Community National Bank of the Lakeway Area's discretion.
If I meet the qualifications, when will I receive my rewards?
Interest is paid monthly and posted on the last day of the statement cycle.
If I use another financial institution's ATM and pay a fee, when will I get my refunds?
If the qualifications are met, all ATM fees nationwide will be refunded on the last day of the monthly statement cycle.
Do I have to do anything in order to get my ATM fee refunds?
No, other than meeting the qualifications. ATM refunds are automatically paid on the last day of your monthly statement cycle.
How will I know that I have qualified for my rewards at the end of the monthly statement cycle?
- You can log into online banking to review your account activity and confirm that you have met the minimum account qualifications at anytime.
- You will receive an email stating whether or not you met the qualifications each monthly statement cycle
If I fail to meet the qualifications during this monthly statement cycle, can I still have a chance to qualify during the next monthly statement cycle?
Yes, of course!
What is the monthly statement cycle for Kasasa Cash Checking?
The monthly statement cycle begins on the first day of each month.
What is the qualification cycle?
A period beginning one business day prior to the current statement cycle through one business day prior to the close of the current statement cycle.
If an existing customer is moved to a Kasasa Cash Checking account, will his/her statement cycle change?
Yes
If I use my MasterCard debit card at an ATM, will that transaction count towards my qualifications?
No. Only signature based POS (point-of-sale) transactions count and they must be posted to the account.
What is a "settled transaction"?
A settled transaction is one that has posted to your account. When you use your MasterCard debit card, the merchant places a memo hold on your account in the amount of your purchase. It can take up to three business days before the transaction posts or clears.
May I "carry forward" MasterCard debit purchases in excess of the required number to the next monthly statement cycle?
No, each monthly statement cycle you must meet all three qualifications.
What if I need a printed copy of my statement and/or check image?
You can print a check or statement from your computer. Additionally, Community National Bank of the Lakeway Area keeps records of all statements and checks as required by state and federal laws.
What is the minimum opening balance for a Kasasa Cash Checking account?
$100.00
Is there a limit on the amount of ATM refunds that I can receive during a statement cycle?
Yes, ATM Fee Refunds will be refunded up to 10 transactions per monthly statement cycle.
Is overdraft protection available for Kasasa Cash Checking accounts?
Yes.
Will I be able to use my existing MasterCard debit card and checking account number with my Kasasa Cash Checking account?
Yes, if your account is already a Community National Bank of the Lakeway Area account, everything will remain the same.
How do I convert my current checking account to a Kasasa Cash Checking account?
Apply online or drop by one of our branches and talk with a Community National Bank of the Lakeway Area associate about converting your account to Kasasa Cash Checking.
