Kasasa Saver® or REALSaver

Link your Kasasa® checking to this free account that pays a high rate and helps you save automatically.


Start with a strong, benefit-driven headline like the one above. An A/B test by our UX team revealed a 20.7% lift in conversions when a bold, benefit-driven headline was present. If the FI asks us to remove, we can remove it.


Please ensure the first mention of "Kasasa Saver" has an ® next to it: Kasasa Saver®. This can appear in either the page title or body copy. Also note that the first mention of "Kasasa" should have an ® next to it: "Kasasa®."


Here at the product page level, we can tout the 1.76% APY* in the main section since we will have all rates in equal prominence just inches below. The above-cap range in the bullet list must be shown as a range of APYs.


Only the terms "high" and "really high" can be used to describe interest/dividends on a Kasasa account.


For white-label versions, the following terms can be used: high, really high, amazing, incredible, major, serious, real, big-time.


Other important notes about Kasasa Saver:


Always refer to "Kasasa Saver" by its full name, never as "Saver" or "Saver account."


Note that there are two types of Kasasa Saver accounts: DDA accounts and savings accounts. The product design contains this information. We can only call Kasasa Saver a "savings account" if it's actually listed as a "savings account" in the FI's product design. Please check on this before referring to Kasasa Saver as a "savings account."


Never use the word "additional" when describing the Kasasa Saver rate: "In addition to your Kasasa Cash rate, earn an additional 1.76% APY* on Kasasa Saver..." This could potentially mislead the consumer into thinking they earn an additional rate on their Kasasa Cash balance.


Never imply that Kasasa Saver includes refunds on ATM fees. Those refunds come from Kasasa Cash or Kasasa Cash Back (depending on which account the FI links Kasasa Saver to). If any reference to the ATM fee refunds is made, it must be overtly clear they are from the checking account.


While Kasasa Saver rates may seem low compared to Kasasa Cash rates, they are still higher than national savings account averages. If you market it this way, always include "earn up to" in front of the comparison claim. Example: "Earn up to 7x the national average..." (note that this requires a separate disclaimer in addition to our main product disclaimer.)


When describing automatic transfer of Kasasa Cash or Kasasa Cash Back rewards, ALWAYS use the term "transfer" as opposed to "deposit." Please be aware that there are 2 ways an FI can set up automatic transfers:

  • Option #1: BOTH the cash earnings and ATM fee refunds from Kasasa Cash or Kasasa Cash Back are automatically transferred.
  • Option #2: ONLY the ATM fee refunds from Kasasa Cash or Kasasa Cash Back are automatically transferred.

Be sure to clearly identify which is the case.

Summary

Qualifications and disclaimer must be on this page, not in separate tabs. They must be on page when it is loaded. You can find more details in the "Being Legal" tab on this page.


Note the mentions of Kasasa Cash and Kasasa Cash Back below. Please edit the copy accordingly, depending on whether the FI links Kasasa Saver to one or both of these accounts.


  • Free account that builds your savings effortlessly
  • Links to free Kasasa Cash or Kasasa Cash Back checking
  • Automatic transfers of Kasasa Cash or Kasasa Cash Back earnings
  • Or, if only ATM fee refunds are transferred, use language "Automatic transfers of ATM withdrawal fee refunds from Kasasa Cash or Kasasa Cash Back"
  • 1.76% APY* on balances up to $25,000
  • 1.76% to 0.62% APY on balances over $25,000 depending on balance in account*
  • 0.05% APY* if qualifications are not met in Kasasa Cash or Kasasa Cash Back
  • No monthly maintenance fees
  • No minimum balance to earn rewards
  • Free online banking
  • Free e-statements
  • Free mobile banking
  • $25 minimum deposit to open

Qualifications

The only true qualification for Kasasa Saver is the account holder must also have a Kasasa Cash or Kasasa Cash Back account (we must mention this requirement clearly.) The actual reward qualifications are technically on the Kasasa Cash or Kasasa Cash Back account, not Kasasa Saver. So we must demonstrate this within the qualifications language. Remember to introduce the qualifiers with the language as it appears below:


Qualifying for your [Kasasa Cash or Kasasa Cash Back] rewards automatically qualifies you for the highest Kasasa Saver rate, too. Enrollments must be in place and all of the following transactions and activities must post and settle to your [Kasasa Cash or Kasasa Cash Back] account during each Monthly Qualification Cycle:


(note that bullets are spaced out here for easier visibility. Qualifications bullets on product pages should be grouped together.)


  • At least [XX] ACH payment transaction(s)
  • At least [XX] direct deposit or ACH credit transaction(s)
  • At least [XX] direct deposit or ACH payment transaction(s)
  • At least [XX] ACH credit or ACH payment transaction(s)
  • At least [XX] direct deposit, ACH payment, or bill pay transaction(s)
  • At least [XX] bill pay or ACH payment transaction(s)
  • At least [XX] bill pay transaction(s)
  • At least [XX] direct deposit, ACH credit, or ACH payment transaction(s)
  • At least [XX] direct deposit or bill pay transaction(s)
  • At least [XX] direct deposit(s)

  • At least [XX] [signature-based] debit card purchases[, each greater than [$XX.XX]]
  • At least [XX] credit card purchases[, each greater than [$XX.XX]]
  • At least a combined total of [XX] [signature-based] debit card purchases[, each greater than [$XX.XX],] or credit card purchases[, each greater than [$XX.XX]]

  • Be enrolled in and agree to receive e-statements
  • Be enrolled in and review e-statements

  • Maintain a valid email address on record with [bank / credit union]
  • Be enrolled in and log into online banking

Typically we follow here with something explaining that even if you don't qualify, there's still no monthly maintenance fee and you still earn the base interest/dividend rate. Example: "That's it. Even if you don't meet your qualifications during the cycle, your Kasasa® accounts are still free. Plus, you'll still earn our base interest rate on Kasasa Saver. And you can get right back to earning your full rewards the very next month!"


Other Notes (For Both Product Pages and Disclaimers)

  • If there is no minimum deposit to open, that line can be deleted (as opposed to having a $0 as value). Or, just say "no minimum deposit to open."
  • The word "interest" needs to be changed to "dividends" for a credit union, wherever it appears on the page.
  • The word "debit card" needs to change to "check card" if the FI uses this terminology.
  • Be sure to change the name of the account from Kasasa Saver to the FI's name for the account on non-Kasasa (white label) products.

Disclaimer

Note that disclaimers contain many variables within the language. It is important that the PD is referenced for these variables, and/or the project manager has a discussion with the FI about them so that disclaimer language is as accurate as possible.


Also note that what we provide to the FI is our "recommended sample disclaimer language." Compliance is ultimately the FI's responsibility.


Product Page Disclaimer — Kasasa Saver


Comparison Claim Disclaimer

If the marketing uses a competitive comparison claim (such as "Earn 7x the national average..."), the following line must be added to the disclaimer:

[insert number]x the national rate (Source: FDIC [insert publish date]).


Two-Rate Only Variations

Some FIs forgo the the middle rate tier on Kasasa Saver. Even here, there are two ways this could be set up: 1) Have a qualifying rate that applies to all balances and a non-qualifying rate that applies to all balances. 2) Have a qualifying rate that applies to all balances up to a capped amount (therefore, balances above the cap receive no interest) and a non-qualifying rate that applies to all balances.

In these cases, the bullet points are as such:


No Cap

  • 1.76% APY* on entire balance
  • 0.05% APY* if qualifications are not met on Kasasa Cash

With Cap

  • 1.76% APY* on balances up to $50,000
  • 0.05% APY* if qualifications are not met on Kasasa Cash

This would amend the section(s) in the disclaimer that addresses the specific rates being earned. Below are disclaimers amended from the "Summary" tab in these scenarios. The same considerations apply to bold items, regarding removing/including from disclaimer.


TWO-RATE DISCLAIMERS WITH NO CAP


Kasasa Cash rates NOT shown

*APY=Annual Percentage Yield. APYs accurate as of XX/XX/20XX. Rates may change after account is opened. Minimum to open is $XX for Kasasa Cash and $XX for Kasasa Saver. For Kasasa Cash, if qualifications are met each monthly qualification cycle, domestic ATM fees incurred during qualification cycle will be reimbursed up to $XX ($XX per single transaction) and credited to account on the last day of monthly statement cycle. Qualifying transactions must post to and settle 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. Interest earned in Kasasa Cash is automatically transferred to Kasasa Saver each statement cycle and does not compound. Actual interest amount paid may be less than advertised Kasasa Cash APY. The Kasasa Saver APYs may be less than Kasasa Cash APYs. If qualifications in Kasasa Cash account are met each monthly qualification cycle, all balances in Kasasa Saver account receive an APY of X.XX%. If qualifications are not met on Kasasa Cash, all balances in Kasasa Saver account earn X.XX% APY.


POSSIBLE DISCLAIMER ADDITIONS

Depending on product design, the following lines may or may not need to be added to disclaimer. If they are necessary, just add them to the end of the disclaimer. The secondary bullet is to explain when or when not to include. (Obviously that second bullet is not part of disclaimer.)

  • Monthly direct deposit required to have these accounts.
  • Only include if the product design in CRM indicates this. NOTE: This is NOT direct deposit as qualifier for rewards. This is direct deposit required to even have the account.
  • Transfers between accounts do not count as qualifying transactions.
  • Only include if the FI has one of the reward qualifications that includes ACH payments (including direct deposit)
  • PIN based transactions do not count towards qualifying debit card transactions.
  • Only include if the product design in CRM indicates qualifying purchases must be signature-based. (More often it is not the case.)
  • Fees may reduce earnings.
  • Never include this on Kasasa. Include on non-Kasasa unless FI asks us to remove.
  • Limit one account per SSN.
  • Only include if this is indicated in product design. Note the SSN part is a variable (could be "household" or other).
  • ATM receipt must be presented for reimbursement of an individual ATM fee of $5.00 or higher.
  • Only include if the FI uses the calculated method to refund ATM fees. (Which is usually the case.)

OTHER NOTES

  • If there is no minimum deposit to open, that line can be deleted. (As opposed to having a $0 as value.)
  • The words "interest" need to be changed to "dividends" for a credit union.
  • The word "debit card" needs to change to "check card" if the FI uses this terminology
  • Be sure to change the name of the account from Kasasa Cash/Saver to the FI's name for the account on non-Kasasa products.

Kasasa Saver AND Kasasa Cash rates shown

*APY=Annual Percentage Yield. APYs accurate as of XX/XX/20XX. Rates may change after account is opened. Minimum to open is $XX for Kasasa Cash and $XX for Kasasa Saver. For Kasasa Cash, if qualifications are met each monthly qualification cycle: (1) Domestic ATM fees incurred during qualification cycle will be reimbursed up to $XX ($XX per single transaction) and credited to account on the last day of monthly statement cycle; (2) balances up to $XX,000 receive APY of X.XX%; and (3) balances over $XX,000 earn X.XX% interest rate on the portion of the balance over $XX,000, resulting in X.XX% - X.XX% APY depending on the balance. If qualifications are not met on Kasasa Cash all balances earn X.XX% APY. Qualifying transactions must post to and settle 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. The advertised Kasasa Cash APY is based on compounding interest. Interest earned in Kasasa Cash is automatically transferred to Kasasa Saver each statement cycle and does not compound. Actual interest amount paid may be less than advertised Kasasa Cash APY. The Kasasa Saver APYs may be less than Kasasa Cash APYs. If qualifications in Kasasa Cash account are met each monthly qualification cycle, all balances in Kasasa Saver account receive an APY of X.XX%. If qualifications are not met on Kasasa Cash, all balances in Kasasa Saver account earn X.XX% APY.


POSSIBLE DISCLAIMER ADDITIONS

See above for same possible disclaimer additions.



Only ATM fee refunds from Kasasa Cash are transferred

*APY=Annual Percentage Yield. APYs accurate as of XX/XX/20XX. Rates may change after account is opened. Minimum to open is $XX for Kasasa Cash and $XX for Kasasa Saver. For Kasasa Cash, if qualifications are met each monthly qualification cycle, domestic ATM fees incurred during qualification cycle will be reimbursed up to $XX ($XX per single transaction) and credited to account on the last day of monthly statement cycle. Qualifying transactions must post to and settle 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. If qualifications in Kasasa Cash account are met each monthly qualification cycle, all balances in Kasasa Saver account receive an APY of X.XX%. If qualifications are not met on Kasasa Cash, all balances in Kasasa Saver account earn X.XX% APY.


POSSIBLE DISCLAIMER ADDITIONS

See above for same possible disclaimer additions.



TWO-RATE DISCLAIMERS WITH CAP


Kasasa Cash rates NOT shown

*APY=Annual Percentage Yield. APYs accurate as of XX/XX/20XX. Rates may change after account is opened. Minimum to open is $XX for Kasasa Cash and $XX for Kasasa Saver. For Kasasa Cash, if qualifications are met each monthly qualification cycle ATM fees using Kasasa Cash debit card incurred during qualification cycle will be reimbursed up to $XX ($XX per single transaction) and credited to account on the last day of monthly statement cycle. Qualifying transactions must post to and settle 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. Interest earned in Kasasa Cash is automatically transferred to Kasasa Saver each statement cycle and does not compound. Actual interest amount paid may be less than advertised Kasasa Cash APY. The Kasasa Saver APYs may be less than Kasasa Cash APYs. If qualifications in Kasasa Cash account are met each monthly qualification cycle, balances up to $XX,000 in Kasasa Saver account receive an APY of X.XX%. If qualifications are not met on Kasasa Cash, all balances in Kasasa Saver account earn X.XX% APY.



POSSIBLE DISCLAIMER ADDITIONS

See above for same possible disclaimer additions.



Kasasa Saver AND Kasasa Cash rates shown

*APY=Annual Percentage Yield. APYs accurate as of XX/XX/20XX. Rates may change after account is opened. Minimum to open is $XX for Kasasa Cash and $XX for Kasasa Saver. For Kasasa Cash, if qualifications are met each monthly qualification cycle: (1) domestic ATM fees incurred during qualification cycle will be reimbursed up to $XX ($XX per single transaction) and credited to account on the last day of monthly statement cycle; (2) balances up to $XX,000 receive APY of X.XX%; and (3) balances over $XX,000 earn X.XX% interest rate on the portion of the balance over $XX,000, resulting in X.XX% - X.XX% APY depending on the balance. If qualifications are not met on Kasasa Cash all balances earn X.XX% APY. Qualifying transactions must post to and settle 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. The advertised Kasasa Cash APY is based on compounding interest. Interest earned in Kasasa Cash is automatically transferred to Kasasa Saver each statement cycle and does not compound. Actual interest amount paid may be less than advertised Kasasa Cash APY. The Kasasa Saver APYs may be less than Kasasa Cash APYs. If qualifications in Kasasa Cash account are met each monthly qualification cycle, balances up to $XX,000 in Kasasa Saver account receive an APY of X.XX%. If qualifications are not met on Kasasa Cash, all balances in Kasasa Saver account earn X.XX% APY.



POSSIBLE DISCLAIMER ADDITIONS

See above for same possible disclaimer additions.



Only ATM fee refunds from Kasasa Cash are transferred

*APY=Annual Percentage Yield. APYs accurate as of XX/XX/20XX. Rates may change after account is opened. Minimum to open is $XX for Kasasa Cash and $XX for Kasasa Saver. For Kasasa Cash, if qualifications are met each monthly qualification cycle, domestic ATM fees using Kasasa Cash debit card incurred during qualification cycle will be reimbursed up to $XX ($XX per single transaction) and credited to account on the last day of monthly statement cycle. Qualifying transactions must post to and settle 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. If qualifications in Kasasa Cash account are met each monthly qualification cycle, balances up to $XX,000 in Kasasa Saver account receive an APY of X.XX%. If qualifications are not met on Kasasa Cash, all balances in Kasasa Saver account earn X.XX% APY.



POSSIBLE DISCLAIMER ADDITIONS

See above for same possible disclaimer additions.

Being Legal

Here are some more details regarding compliance. It explains some possible exceptions as well as clarifications that might answer potential questions. But first.....


Never Do's

  • Never make it appear as if Kasasa Saver earns ATM fee refunds. This only happens on the linked Kasasa Cash account. You have two options:
  • Don't even mention the ATM fee refunds
  • If you do, make it blatantly obvious they are from Kasasa Cash, not Kasasa Saver
  • Never use word "money" when talking about reward transfers to Kasasa Saver. Options you can use include:
  • "interest"
  • "rewards"
  • "those earnings"
  • When talking about said transfers, always say "automatic transfer." Not "sweep" or "deposit."
  • Never use "more" to refer to "more interest." This could be construed to mean higher interest than what is received on Kasasa Cash, which isn't the case.
  • Never use "again" in reference to "earn interest again." This isn't true. It is separate interest, just like all savings accounts earn interest.
  • Never use the word "make" when discussing qualifications, as in "make 12 debit card transactions." Why? Because the FDIC will give the FI a major smackdown. That's all we need to know.
  • Never use the word "interest" after APY. E.g., "Earn 3.50% APY interest" is both incorrect and illegal.
  • Asterisk must follow APY and have "Annual Percentage Yield" clearly spelled out somewhere on the same page.
  • When identifying qualification cycle, never deviate from "monthly qualification cycle." Do NOT use "statement cycle," "calendar cycle," "monthly cycle," etc.
  • Once you have clearly spelled out "monthly qualification cycle," you can use just "monthly" or "cycle" where appropriate on the same page.
  • Never deviate from X.XX% formula for APY. Even if less than 0, include a 0 before the decimal point and always two numerals after the decimal point.

Possible Additions

  • Some FIs require their debit card purchases to be signature-based in order to count toward qualifications. This is the exception to the norm; it will be indicated in the FI's product design. If this is the case:
  • The qualifier must read "have at least 12 signature-based debit card purchases post and settle"
  • The disclaimer must include the line "PIN based transactions do not count toward qualifying debit card transactions."
  • Regarding the eStatement qualification. For a few FIs, the legal requirement will be "Be enrolled and review eStatement." The reason is complicated...so stick with us here. Some FIs have a technical snag, namely that the only way they are able to confirm a customer is receiving the eStatement is if that customer actually opens it. Hence, "and review" is added. The disclaimer default leaves off "and review" because very few FIs have this issue, and to the consumer it is a burden. However, leaving off "and review" should be confirmed by checking the product design in CRM.

Possible Exceptions

  • Some FI's request our homepage banners to only show the highest rate (the below-cap rate). This is because, from a marketing perspective, this is much more effective. However, from a legal perspective, it is highly illegal. WE WILL ONLY DO THIS if we receive, in writing, clear instruction from the FI to proceed in this manner despite our clear suggestion to show the non-qualification rate as well. This was we cover our ass if they end up getting fined.