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Bask Bank Review 2023

Updated March 2, 2023
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At a glance

3.9
Rating: 3.9 stars out of 5
Bankrate Score
Caret Down

CDs

Rating: 4.4 stars out of 5

Savings

Rating: 4.7 stars out of 5

About Bankrate Score

Overview

Bask Bank is best for consumers looking for a savings account that earns a competitive yield, requires no minimum balance and charges no monthly maintenance fee.

Highlights

  • High APY
  • Top CD Rates
Compare offers
Info
Bank logo
Member FDIC
Savings Account
4.75
%
APY
APY
Info
As of 6/5/2023
Rating: 4.7 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Promoted offer: 0 Monthly Acct Fees. No Balance Cap to Earn APY.
Bank logo
Member FDIC
Savings Account
4.50
%
APY
APY
Info
As of 6/5/2023
Rating: 4.7 stars out of 5
$1
Min. balance for APY
View offer Arrow Right
Promoted offer: No fee online savings account with a great rate.
Bank logo
Member FDIC
Savings Account
4.85
%
APY
APY
Info
As of 6/5/2023
Rating: 4.9 stars out of 5
$5000
Min. balance for APY
View offer Arrow Right
Promoted offer: No Monthly Fees. $5,000 balance required for highest rate.

Overall

Bask Bank is an online bank that offers one savings account that earns interest and another that earns American Airlines miles. It also offers four terms of CDs.

Pros

  • Checkmark

    Bask Bank pays one of the highest APYs on its Interest Savings Account.

  • Checkmark

    Bask Bank offers a rare opportunity to earn miles with its Mileage Savings Account.

Cons

  • Bask Bank doesn’t offer a checking or money market account.

  • Your account may be closed if you don’t fund your CD within 10 business days or if you don’t deposit money into a Bask savings account within 15 business days.

Bask Bank banking products

4.7
Rating: 4.7 stars out of 5
Bankrate Score

Bask Bank savings overview

Bask Bank offers two savings accounts: the Bank Interest Savings Account and the Bask Mileage Savings Account.

Its Interest Savings Account offers customers a very competitive yield, has no minimum balance requirements and charges no monthly service fee. An initial deposit must be made within 15 days to keep the account open.

Bask Bank also offers a Mileage Savings Account, which allows account holders to earn American Airlines miles, based on the monthly balance.

Bask Bank savings accounts are limited to six withdrawals or transfers per statement cycle. Bask Bank charges a $35 outgoing wire transfer fee — at the top end of what most banks charge for domestic wire transfer fees.

Pros

  • Checkmark

    Bask Bank offers a unique savings account for earning miles.

  • Checkmark

    Bask Bank’s Interest Savings Account offers a top-tier yield.

Cons

  • Known customers can only transfer a maximum of $150,000 per transaction, $250,000 per day and $300,000 per month via online transfers. New customers have online transfer limits of $100,000 per transaction and per day and $150,000 in a month.

  • You can only have one mileage savings account and one interest savings account at Bask Bank.

Current Savings Rate
Info
Bank logo
Member FDIC
Savings Account
4.75
%
APY
APY
Info
As of 6/5/2023
Rating: 4.7 stars out of 5
Info
$0
Min balance for APY
View offer Arrow Right
Promoted offer: 0 Monthly Acct Fees. No Balance Cap to Earn APY.

Bank fees

Fee Charged?
Overdraft fee None
Non-sufficient funds fee None
Monthly maintenance fees None
Out-of-network ATM fee N/A
Excessive transaction fee None

About Bask Bank

Bask Bank is an online bank that offers two types of savings accounts: one that earns a competitive annual percentage yield and another that earns American Airlines miles. Bask Bank got its start in January 2020 and is a division of Texas Capital Bank.

Bank experience

Bask Bank offers phone customer service hours six days a week: 7 a.m. to 7 p.m. Central time, Monday-Friday, and 9 a.m. to 4 p.m., Saturday.

During Bankrate’s review, the Bask Bank mobile app had a score of 3.6 out of 5 from iOS users in the Apple App Store, while the Android version had 3.2 stars on Google Play.

How Bask compares to other banks

Bask Bank vs. Ally Bank

Ally Bank offers more CD types and terms. It also gives customers more products by offering a checking account, a money market account and a no-penalty CD. But Bask Bank is known to pay a higher yield on its savings account and has a savings account that allows you to earn miles. Bask Bank could be the right bank for you if those accounts/features are what you’re looking for in a bank.

Bask Bank FAQs

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.