TAB Bank, Earn 4.00% APY on Balances up to $50,000

April 25, 2019

TAB Bank is offering a rate of 4.00% APY for its Kasasa Cash Checking Account for balances up to $50,000. This rate comes with two monthly requirements:

At least 1 direct deposit, ACH payment (use of routing number and account number to complete a transaction), or bill pay (using TAB Bank’s mobile app or online banking portal) transaction.
At least a combined total of 15 pin-based / signature-based debit card purchases.

You will earn an interest rate of 0.25% on the portion of the average daily balance over $50,000

Offer Terms

The following activities do not count toward earning account rewards: ATM-processed transactions, transfers between accounts, debit card purchases less than $5.00, debit card purchases processed by merchants and received by our bank as ATM transactions, non-retail payment transactions and purchases made with debit cards not issued by our bank.
Transactions bundled together by merchants and received by our institution as a single transaction count as a single transaction for the purpose of earning account rewards. “Monthly Qualification Cycle” means a period beginning one (1) banking day prior to the first day of the current statement cycle through one (1) banking day prior to the last business day of the current statement cycle.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Must be a US citizen
No credit card funding

Guru’s Wrap-Up

This is one of the best rates available for up to $50,000 balances. It comes with some requirements, but still worth completing if you have the money. And it is a checking account, so you have more freedom with transactions compared to a money market account. Also, you can check other high yield accounts here.