Offer at a glance
- Maximum bonus amount: 2% APY
- Availability: Nationwide
- Additional requirements: 12 debit transactions, e-statements, login
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Insured: FDIC
The Offer
- 5Star Bank offers a 2% APY rate in their Kasasa Checking account on balances up to $25,000
To be eligible for the 2% rate, the following qualifying activities are necessary:
- Have at least 12 debit card purchases post and settle
- Be enrolled in and agree to receive eStatements
- Be enrolled in and log into online banking
Aside from the 2% APY on the savings account, there’s also an ATM refund benefit on the account, up to $25 per month when qualifications are met.
The Fine Print
- If qualifications are not met on Kasasa Cash all balances earn a non-compounding 0.01% APY
- Qualifying transactions must post to and settle in Kasasa Cash account during monthly qualification cycle. Transactions may take one or more banking days from the date transaction was made to post to and settle account. ATM-processed transactions do not count towards qualifying debit card transactions.
- “Monthly Qualification Cycle” means a period beginning one day prior to the first day of the current statement cycle through one day prior to the close of the current statement cycle.
Our Verdict
The bank is located in Colorado, but their application page seems to allow anyone from USA to apply (it has all states in the dropdown). We don’t know if they do a hard pull to open the account. The qualifications are relatively easy to complete; once setup with e-statements you’ll just have to login once per month and meet the 12 debit requirement.
This is another good nationwide high-yield option. There are some better ones as listed in our (recently updated) list of Best High Interest Savings Account, though the $25k limit is from the better limits available. We’ll add this one to the list there.
Hat tip to Depositaccounts
View Comments (2)
Data point ? Months ago i had tried to open an account with them and they after a few days they asked me to send my DL and sign the signature card. Couple of days later they told me they can no longer open an account for me and they cannot disclose the reason and wont sent me any letter stating the same
I have already opened dozens of these successfully in the past so nothing wrong with my history
except if they are too sensitive to chex inquiries
5Star Bank is an absolutely horrible bank.
I simply asked them on Twitter if they do a hardpull. In a single tweet.
In return, they blocked me!
https://twitter.com/ChurnTx/status/865493985149632512
Seriously?! I can't believe it! Almost every other bank and CU replied! Not a single one blocked me!
What sort of folks block you for a single tweet asking a valid question? This is definitely not nationwide; I'd be surprised if it was even statewide, either.