Opening a checking account has many advantages, such as better security, a method for tracking expenses, and a safe way to pay bills. Despite this convenience, more than 14 million adults in the US don’t have checking or savings accounts. Why? Many consumers dislike having to pay monthly costs to store their cash or believe that banking fees are too high.

What exactly is a checking account? Simply put, it’s an account held at a financial institution that allows customers to make deposits and withdrawals from their own funds at any time. There are various options to choose from, but a Kasasa Cash Back checking account from Texas Tech Credit Union is a great choice, providing members with rewards, perks, and cashback on purchases, which can help them earn money over time. 

woman paying for her meal with her Kasasa cashback debit card

Why open a Kasasa Cash Back checking account? 

1. Protect your cash.

Although hiding large sums of cash in your home may seem like a great idea, it can be extremely risky. Even when stored in locked safes or hidden locations, unexpected incidents such as robberies, fires or water damage can quickly destroy one’s life savings. 

Financial institutions like Texas Tech Credit Union not only keep your funds in a location that is physically protected but also provide further peace of mind through comprehensive insurance coverage from the National Credit Union Administration (NCUA), which covers up to $250,000 per person on a single account. 

2. Earn rewards.

Many banks provide checking accounts that have little to no additional perks for trusting them with your hard-earned cash. Credit unions are different. Unlike typical banks, which are for-profit businesses, credit unions are not-for-profit and owned by members who have a say in how they operate. Because credit unions are focused on maintaining operating costs instead of turning profits, they can provide higher interest rates on services such as savings accounts, checking accounts, and certificates of deposit, and lower rates on auto, home, and personal loans. 

Texas Tech Credit Union’s Kasasa Cash Back checking account rewards members by offering 2% cashback* on debit card purchases for spending up to $400 each month. Think of this as money you would likely spend on monthly expenses anyway, such as phone plans, electricity bills, grocery runs, or other necessary expenses. To qualify each month, you simply have to make at least 10 debit card transactions, sign up for at least one direct deposit or electronic online bill payment and enroll to receive e-statement notices.

3. Get fast, convenient access to your money.

Checking accounts provide additional security for spending — every purchase or refund made and received is recorded, providing an easy way to identify any potential issues or fraudulent activities. 

Texas Tech Credit Union’s Kasasa Cash Back checking account also provides convenient ways for members to access their accounts online. In addition to receiving monthly electronic statements that help track spending, members can log into their accounts to check their balances at any time. They can also pay their bills quickly and easily by setting up automatic bill payments for each month. And if they’re employed, they can receive their paychecks faster by having their employers deposit it directly into their accounts. 

Checking accounts also provide consumers with convenient ways to withdraw cash. However, some banks require customers to use bank-specific ATMs to avoid additional charges. However, Texas Tech Credit Union refunds members up to $25 if they use an ATM outside its network. 

4. Access more payment options.

Checking accounts give customers safe options for making purchases and payments, whether they are made online or in-store. Banks and credit unions typically provide customers with debit cards that can be used to pay bills and purchase items. This offers both convenience and security for members who may not always have cash available. 

Kasasa Cash Back checking account members receive a free Mastercard® debit card that can be used to make at least 10 transactions each month. Each transaction can be monitored and verified online. 

Checking accounts allow consumers to track spending, access their cash, pay bills, and more. TTCU’s Kasasa Cash Back checking account offers more perks than traditional banks, such as 2% cashback*, ATM refunds, and more. Click here to learn more

*Exclusions apply.