Kasasa Cash FAQ

Rewards and Requirements

Is there a Service Charge for a Kasasa Checking account?
There is no service charge
What are the rewards for Kasasa Cash Checking?
Higher dividend rate on the balance in the account (see current rates)
ATM surcharge fees reversed
What are the requirements that must be met to qualify for the rewards?
12 debit card (Point of Sale) transactions
Receive eStatements
Log on to Online Banking once per month
How often must the requirements be met to qualify for the rewards?
The qualification period goes from the last day of the month to the next to last day of the next month. For example a qualification period would start April 30th and end May 30th.
What happens if the requirements for Kasasa Checking are not met?
A lower dividend rate is paid
ATM surcharge fees are not reimbursed
Can the dividend rate on my Kasasa Cash Checking account change?
Yes -- this is a variable rate and can change at any time. This is true for all of our checking accounts.
Is this just a "teaser" rate?
No -- All members with this account receive the same dividend reward as long as the requirements are met.
How are the dividends calculated?
Ending daily balance x dividend rate divided by 365 = Daily Accrued Dividend. *Calculated daily paid at end of cycle.
If I meet the requirements, when will I receive my rewards?
Rewards are paid on the last day of the month.
How will I know that I have qualified for my rewards at the end of the statement cycle?
You will receive a monthly email notifying you whether you qualified for the rewards or not.
Will Kasasa Cash Checking members receive a 1099 at the end of the year reflecting dividends earned over the year?
Members will receive a 1099 if the combined dividends earned on all TwinStar accounts are equal to or more than $10.00.
If my account balance goes negative, will I still be able to qualify for my rewards during that statement cycle?
Yes, as long as you meet the requirements you will still qualify for your rewards.
If I fail to meet the requirements during this statement cycle, can I still have a chance to qualify during the next statement cycle?
Yes, you can start over next month and work towards meeting the requirements.
What if my new Debit Card doesn't arrive until late in the statement cycle and I don't have time to earn my rewards... will I still get them?
You will earn the rewards the first month that you have the checking account regardless of meeting the qualifications. You should have your debit card before the next qualification period.
If I miss my requirements by only one Check Card transaction, can I call in and get my dividends and ATM refunds anyway?
ATM refunds and dividend payments can not be forced paid. You will still earn the lower dividend rate. Don't worry though, you can start over next month and work towards meeting the requirements.

ATM Fee Refunds

If I use another bank's ATM and pay a fee, when will I get my refund?
If you meet the requirements, you will receive the refund on the last day of the month.  (ATM fees that are charged on the last day of the month will be refunded on the last day of the next month.)
Do I have to do anything in order to get my ATM refund?
The only thing you have to do is meet the requirements. You will automatically receive the refund at the end of the month.
Are fees refunded on ATMs used internationally?
Any ATM surcharge fee will be reversed.  International transaction fees that may be charged will not be reversed.
Is there a limit on the amount of ATM refunds that I can receive during a statement cycle?
The maximum refund amount is a total of $20 per cycle.

Statement Cycle

What is the statement cycle for Kasasa Checking?
The statement cycle for the Kasasa checking is the same as all other checking accounts. The statement cut off date is the last day of the month. The qualification period however ends the day before the last day of the month.
Will all Kasasa Checking members be on the same statement cycle?
Yes, all Kasasa checking members will be on the statement cycle.
If an existing customer is moved to an Kasasa Checking account, will his/her statement cycle change?
No, the statement cycle will always be the same.

Debit Card Transactions

If I use my debit card at an ATM, will that transaction count toward my requirements?
No, ATM transactions do not count toward the requirements. Only point of purchase transactions count (pin entered or signature based).
Do I have to use the debit card as a DEBIT card, or may I tell the vendor to use it as though it were a credit transaction?
As long as you use your debit card, it doesn't matter if you use it with your PIN, or as if if were a credit card transaction.
May I "carry forward" debit card transactions in excess of the required number to the next qulaification cycle?
No, only transactions performed during the qualification period will count towards the requirements for that statement cycle.
Will the transactions from this qualification cycle on my old non-Kasasa account count toward the required transactions for this statement cycle on my Kasasa Checking account?
No, the qualification period and transactions start on the new Kasasa checking account. Transactions do not carry over.

eStatements

Can I have Kasasa Checking if I don't have a computer.
Yes. You do need a valid email account, however. Google, MSN, Hotmail, and Yahoo all offer free email accounts, and you can use the computers at your local library or an internet cafe to sign up.
Must I access my eStatement online in order to qualify for the rewards?
No, you are not required to access your eStatement online. You are only required to sign up and receive the eStatement. Looking at the statement is your choice.
Do I receive images or checks back with my Kasasa Checking account?
Check images are available through online banking. You will not receive the physical check back.
What if I need a printed copy of my statement and/or check image?
Statements and/or check images can be printed through online banking or you may contact the credit union for copies of these items.

Account Limits

Is there a limit on the amount of money I can keep in my Kasasa Checking account?
There are no limits on the amount of money you can keep in the Kasasa Cash checking account. The higher dividend rate only applies to the first $15,000.
Is there a minimum balance requirement in order to receive my rewards?
No, there is no minimum balance requirement to receive your rewards.
What is the minimum opening balance for an Kasasa Checking account?
$25 is the minimum opening balance for the Kasasa checking account.
Is there a limit on the amount of ATM refunds that I can receive during a statement cycle?
The maximum refund amount is a total of $20 per month.

Opening/Converting Accounts

Is overdraft protection available for Kasasa Checking accounts?
Yes, overdraft protection is available for Kasasa checking accounts.
Will I be able to use my existing Debit Card, checks, and account number with my Kasasa Checking account or will those all change?
Yes, you can use your existing debit card, checks and account number. The only thing that will change is the name of the account.
How may I convert my current checking account to an Kasasa Checking account?
To convert your current checking account you can go to a local branch or call our contact center at 1-800-258-3115.
Can I open an Kasasa Checking account over the phone?
Yes, you can open an Kasasa checking account over the phone.
Can I open multiple Kasasa Checking accounts for the same address?
You may open one Kasasa account per individual member (Social Security Number).
Can multiple people use the same Kasasa Checking account?
To use the Kasasa checking account, the second user must be added to the account.
Can a DBA use this account?
No, only consumer accounts are eligible for the Kasasa checking account.
Is there a limit on the number or kind of transactions you can do on an Kasasa Checking account?
No, there is no limit on transaction type or the amount of transactions that you may conduct.
How many checks do I get when I open an Kasasa Checking account?
You may request to have checks ordered when you open the Kasasa account. Checks will not automatically be ordered.