Turn your checking account into an earning opportunity with no minimum balance, no monthly fees and an array of advantages.
A high yield on your balance, refunds on ATM fees and free online privileges make KANZARewards a premium checking option for anyone. To qualify, just make 12 monthly debit card purchases on your account, set up at least one direct deposit or automatic payment, and enroll & receive electronic statements. Minimum opening deposit is $100.
Unique Features
3.00% APY earned on balances up to $25,000 when qualifications
are met
3.00% APY applies to balances of $.01-$25,000.
Interest rate of 1.00% applies to the portion of balances over
$25,000. For this tier, APY will range from 3.00% to 1.50%.
If qualifications are not met 0.05% APY applies to all balances.
Rates may change after the account is opened. Fees may reduce earnings. Available to personal accounts only.
Rate information – At our discretion, we may change the interest rates for this account.
Tier 1 – An interest rate of 1.000% will be paid only for that
portion of your daily balance that is $25,000.01 or more. The annual percentage
yield (APY) for this tier will range from 3.00% to 1.50%, depending on the
balance in the account. Tier 2 – An interest rate of 2.960% will
be paid on the entire portion of your daily balance that is less than $25,000.01.
The annual percentage yield (APY) for this tier is 3.00%.
The interest rates and annual percentage yields may change daily.
Compounding frequency – Interest will be compounded monthly.
Crediting frequency – Interest will be credited into this account monthly.
Effect of closing an account – If you close your account before interest is paid, you will not receive 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.
Additional Terms – The following additional terms apply to this account: To receive the high Annual Percentage Yield and ATM refunds nationwide, you must perform the following qualifications per statement cycle:
Make 12 debit card purchases.
Receive one direct deposit or authorize one ACH Auto Debit.
Receive e-Statements.
If you do not meet the qualifications during the qualification cycle, your account will still function as a free checking account earning 0.05% APY and you will not receive ATM refunds for that time period.
ATM Fee Refunds Nationwide (if qualifications are met)
Statements for KANZA Rewards accounts will cycle with a cutoff date of the
16th unless the 16th falls on a weekend or Federal Holiday, in which case the
statement will cycle on the first business day thereafter. Qualification requirements
(i.e. make 12 debit card purchases and receive/authorize a direct deposit or
ACH Auto Debit) for determining if the account will receive the high annual
percentage yield (APY) are calculated the business day prior to the statement
cycle date. Therefore, the cutoff date for the “qualification cycle” will
always be the business day just prior to the day the statements cycle. Debit
card and other electronic transactions are counted based on the date that the
transaction hard posts to the account rather than the date the transaction
was conducted by the customer. Any debit card purchases and direct deposit/ACH
activity occurring on the statement cycle date will be counted in the following
month’s qualification calculations. For example, if the statement date
is March 16th, debit card purchases and ACH activity that is posted to that
statement with a date of March 16th will be counted in the next statement’s
qualifications.
The KANZA Rewards account is designed to provide an attractive rate of interest
for customers who choose to conduct much of their banking electronically, which
is a cost-effective method for us. KANZA Bank reserves the right to close any
customer account, upon reasonable notification, at any time and for any reason
(see terms and conditions.) Customers that attempt to qualify for the high
rate of interest yield by making numerous, very small dollar transactions are
not conducting their account activity consistently with account expectations
for this product. When customers choose to handle their KANZA Rewards account
in this manner, then KANZA Bank may choose to close the customer account or
request that the customer change their account type to a product more consistent
with their account practices.
Regular Checking
Ideal for customers who keep $500 or more in their checking account or who want a set monthly service fee.
KANZA Bank Regular Checking is service charge-free with an average daily balance of only $500. If your average daily balance is below $500, your monthly service fee is just $5. Minimum opening deposit is $100.
Unique Features
No service fee with $500+ average daily balance
Fixed monthly service fee below $500 average daily balance
If you are interested in this account please call us to speak with one of our Customer Service Representatives!
Interest Checking
For customers who maintain higher account balances, our Interest Checking account offers interest that’s compounded and credited monthly on minimum daily balances of $1,000 or more.
If the minimum daily balance falls below $1,000, there is a $5 service fee plus .20 per item for transactions over 25 per statement cycle. Minimum opening deposit is $1,000. Interest rate is subject to change without notice.
Unique Features
No service fee with a $1,000 minimum daily balance
If you are interested in this account please call us to speak with one of our Customer Service Representatives or use our online application.
Relationship Checking
For customers with multiple KANZA Bank accounts totaling $10,000 or more, Checking offers a way to leverage your financial strength with a variety of refunds, premium interest rates and benefits.
Customers without a combined balance of $10,000 may be eligible for Relationship Checking with a $10 monthly fee. The following accounts may be totaled to receive your Relationship Checking:
Personal checking and savings accounts
Money market accounts
Certificates of deposit
Individual retirement accounts
Consumer loans
Home equity line of credit
KANZA Bank mortgage loans
Not included:
Brokerage products, commercial loans and deposits, and secondary market mortgage loans.
Unique Features
Free KANZA Bank checks
Unlimited no-fee check writing
No minimum balance
Premium interest on account balances ($2,500 minimum balance to earn premium interest)
