Related Posts
9/12 - Bask Bank Now 2.53%
8/16 - Bask Now 2.20% APY
7/21 - Bask Bank Interest Savings Account Is New Rate Leader
7/20 - Bask Savings Rate Up To 2.0%
6/22 - Bask Up To 1.61%
6/14 - Bask Bank Interest Savings Account Rate Jumps To New Heights
6/13 - Rate Increase To 1.5% On Interest Savings Account
6/13 - Bask Bank Savings Raised To 1.5%
5/6 - Bask Bank Interest Savings Account Soars To Rate Leader Level
5/5 - Rate Increased To 1.25%
4/4 - Bask Bank Interest Savings Account Is A Rate Leader Again
4/2 - Bask Bank Just Increase Rates
1/29 - Bask Bank Offers Top Savings Account Rate Nationwide
Basking In The Money At Bask Bank
What an amazing few months this has been for me at Bask Bank. It seem that every time a few banks start to get higher rates Bask raises their savings rate again and becomes the #1 or one of the top 3 savings rate banks.
1.50%, 1.61%, 2.02%, 2.20%, 2.53% and now 2.75% (updated) just keeps on climbing every month.
I keep seeing people complain about transfer problems, I have never had a single problem with Bask Bank and I have done a few large transfers. But I have always been initiating the transfers with my external banks because I know that some of the newer banks have transfer limits.
I will stick with Bask Bank for as long as this ride lasts. Will see what happens with the remaining Fed rate increases the rest of 2022 and into 2023.
Works For Little Old Me
I'm not a high roller like many other reviewers. I opened an account with Bask Bank to park revenue from my side gig. My transactions in and out of the account are not large (hundreds of dollars maybe each time). And I only deposit a couple of times a month.
For my very limited use it works fine. I don't plan on touching the money for a while and don't need quick or immediate access to it. On the date of this posting, the interest rate is 2.75% which rivals short term CD rates.
Hard Security Questions And No Emails
if you declined someone from opening an account, you should provide an email as of why and or a way to bypass this questions online. the questions are asking for road names close to the addresses i lived more than 10-20 years ago.
first that is not current information, and sometimes the creditors put stuff on your credit report that is not accurate but it takes forever to erase.
My take is that your system is not set up right, since i have open 2-3 others accounts with no problem and not a single one ask for old info that no even the applicant remember.
so I got the famous we can open and account at this moment!!!, i was still giving you a chance even when i saw all this bad reviews, thinking that is because of the hight traffic because of the rates goin up, but after not receiving and email with and explanation or a way to proceed is very frustrating for costumers.
I will update this if i get a sensible respond and if my account is open with out a glitch.
They Are Still Locking Accounts When You Try To Transfer Money In Or Out
Well, I made the mistake so many others here made and opened an account with Bask Bank.
While I had seen some of these poor reviews, bankrate.com still rated them 5/5. I had successfully relied on bankrate.com in the past so opened the account. Soon after I gave a 2 star rating on their feedback link on their website, my account was frozen with no time estimate for unlocking. After a week with no further contact with or from the bank, I called customer service. I was told that is a different department and all she could do was email them asking for an update. Not sure she ever did. An hour or so later, I used the email to customer service explaining my problem. At 4 and 4.5 hours after that I got two copies of the automated "we are too busy to answer your email, please call customer service" reply. The next morning, I emailed CEO Rob C Holmes through what I presume is his executive assistant ( {email address deleted by moderator} and give them 4 hours to unlock my account before I file complaints with the various government agencies. She apparently sent it to a reasonably competent customer service rep Adam at Texas Bank, who within 3 hours had the account unlocked. He also claimed to have fixed my transaction limits so I would not get the transaction limited exceeded message when I tried to transfer money in or out. After discussing another matter with Cody at Bask Bank customer service, I decided to transfer my money back to Capital One bank (much more reliable and ethical). You guessed it I got the transaction limit exceeded even though their had been none this month as the account had been frozen. I called Texas Capital Customer Service and asked for Adam who had assured me this would not happen. Instead of getting Adam, I was transferred back to Cody, who I found wanted to argue and not really wanted to listen. We finally worked through the communication issues and he did unblock the transaction so I could get my money back and close the account. I figure I lost about $150 of interest, but at least I got my money back and am done with this poor example of a National Bank. Take heed and don't succumb to the slightly higher interest rate. The few extra cents will not be worth it in the long run. Wish I had listened to these reviews and not bakrate.com.
Moderator Edit: Email address that contained full employee name was redacted (please note #3 of comment policy).
Data as of Q2 2022
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 34383 |
| Year Established | 1997 |
| Employees | 2039 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.5% |
| Return on Equity - YTD | 5.28% |
| Annual Interest Income | $450.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2022vs Q2 2021 | $32.33B$35.22B |
| Loans | Q2 2022vs Q2 2021 | $23.84B$23.78B |
| Deposits | Q2 2022vs Q2 2021 | $25.76B$29.28B |
| Equity Capital | Q2 2022vs Q2 2021 | $3.05B$3.04B |
| Loan Loss Allowance | Q2 2022vs Q2 2021 | $229.0MM$221.5MM |
| Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $53.7MM$94.3MM |
| Real Estate Owned | Q2 2022vs Q2 2021 | $0$0 |