See what community financial institutions need to do to survive.
Reward checking attracts high-quality, core deposits while reducing funding costs and the reliance on timed deposits like CDs. It also creates deeper relationships leading to stickier consumers.
Consumers hate fees! In fact, 93% of Millennials say no-fees banking is important when choosing an institution.* But they LOVE that Kasasa accounts have no minimum balance or monthly maintenance fees and offer refunds on ATM withdrawal fees. Below you can learn about the different product types.
Kasasa Cash offers an eye-catching yield on balances and incentivizes account holders to engage in profitable behaviors. These core deposits allow you to reduce reliance on expensive funding sources with lower-cost transactional accounts.
Consumers request cash back more than any other reward and Kasasa Cash Back lets them earn cash back on debit card purchases. This reward attracts consumers who are on average 13 years younger and swipe 2X more often than standard free checking.* (Hello, interchange revenue!)
The perfect complement to Kasasa Cash or Cash Back, Kasasa Saver helps account holders automate their savings by sweeping their monthly rewards into another high-yield account. As the savings stack up, so does their loyalty. This ultra-low-cost funding source increases product penetration.
Differentiate yourself with younger consumers with an account that earns cash back on food delivery and grocery purchases.
Attract Gen Y with an account that earns refunds on debit card purchases for music, video, gaming, and other select streaming services
Younger, loyal consumers adopt more profitable behaviors when qualifying for rewards.
Sticky, low-cost core deposits replace conventional high-cost funding sources.
lift in acquisition
more non-interest income
In a 2016 study, 8 out of 10 Millennials said they would switch institutions for better rewards.* Now you just need to get their attention with something other than plain vanilla free checking.
*2016 The Harris Poll for Kasasa, Ltd.