How Do Rewards Checking Accounts Work? + Introducing Kasasa®!

When it comes to taking care of your finances, a checking account is just about as essential a tool as you can imagine. For paying bills, making purchases with a debit card or tracking spending, having a checking account is fundamental.

But what if you could make it fun-damental too?                                                                                                                                   

Everyone likes being rewarded for what they do, and depending on how you manage your money, a rewards checking account can be a great way to get more out of your banking. Here’s what you need to know about how rewards checking works, why it might be right for you, and how to find the best rewards checking accounts.

Understanding Rewards Checking                          

There are two basic categories of rewards checking accounts. One type allows you to earn cash back on purchases you make with your debit card. The other allows you to earn interest on the balance in your checking account. Some checking accounts allow you to earn both cash back on your purchases and interest on your balance, and some may even refund your ATM withdrawal fees.

The kind of rewards checking account that makes the most sense for you depends on how you use your account, which can determine how you’re likely to earn the most significant rewards.

How to Make a Rewards Checking Work Account Work

Obviously, rewards checking accounts can make a lot of sense for you—if you meet the requirements that typically come along with them. These can include maintaining a minimum balance, making a certain number or type of transactions, or opting to forego environmentally unfriendly paper statements in favor of the more convenient online variety. 

Before you commit to a rewards checking account, it makes sense to look at these requirements, how you’re using your current checking account, and whether you’d have to change your habits to take full advantage.

Rewards Checking at FCB Texas

FirstCapital Bank of Texas has partnered with Kasasa, a leading provider of rewards checking for local banks and credit unions, to offer two different kinds of rewards checking accounts. Kasasa Cash Back® Checking gives you 4 percent cash back on your debit card purchases (up to a maximum reward of $8 per cycle), while Kasasa Cash® Checking* offers a 2 percent annual percentage yield (APY) on balances up to $10,000, with an additional APY bonus available on larger balances. Both accounts also include ATM withdrawal fee refunds if you meet the requirements, and can be linked to a Kasasa Saver® account to grow your savings automatically.

Want to learn more about rewards checking? Your FCB Texas team is ready to hear from you and help you make the best decision.

*Kasasa Cash® Checking not available in Lubbock.