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6/29 - Earn Up To 20K Bonus Miles
6/23 - CD Rates Increased: 6 Month CD 5.25% Apy; 12 Month CD 5.15% Apy
6/8 - Basks Raises Rates
6/8 - Bask Bank Rasied Savings Rates To 4.85% Apy
4/27 - Bask Interest Savings Account Inches Up To 4.75% APY
4/12 - Bask Bank Just Up Rates
4/12 - Bask Bank Increases Savings Rate APY To 4.65% From 4.45%
3/17 - Bask Interest Savings Account Inches Up To 4.45% APY
3/13 - Bask Raises Saving Rate 4.35 APY
2/28 - BASK BANK NOW OFFERING JOINT ACCOUNTS At 4.25% APY
2/3 - Bask Increased To 4.25% APY
1/8 - Bask Savings Ups Rate To 4.15% APY (4.07% APR)
12/13 - Bask Bank 4.03% APY + 5K Aadvantage Points
12/13 - Bask Interest Savings Account Rises To 4.03% APY
11/30 - Bask Interest Savings Account Has Been Increased From 3.60% To 3.85% APY
11/3 - Bask Bank Interest Savings Account Rate Shoots Upward
11/2 - Bask Bank Rate Increases To 3.6% APY (3.54%APR)
10/15 - Bask Certificate Of Deposit (CD) Account
10/13 - Bask Bank Increased Savings Account APY To 3.05%
10/6 - Bask Bank Now Offering Cds
9/22 - Interest Rate In Account Shows 2.710 %
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 - 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
Very Pleased With Pro-Active Customer Service
I pushed some funds into Bask a couple of days ago but goofed because I sent the transfer to an existing CD instead the Savings account that I had intended it to go into.
I resigned myself to waiting it out for the transfer to bounce...but today (2 days after I initiated the transfer) I got a call from Bask. The representative inquired about the transaction and I explained the circumstances. She was able to redirect the transfer to the correct account the same day after the standard verification process. Getting a call from a human being when something is amiss and having things taken care of immediately - now that's the kind of service that wins my business.
Beware Of Caps On Withdrawals
Another bank that puts caps on the amount of $$$ you can withdraw from your account. Might not matter to 99.9%, but....$300,000 is the monthly cap in credits/debits. $150,000 per transaction. There are other caps, but you get the gist.
Rates To Go To 5.0% On Interest Savings
Rates to go to 5.0% on Interest Savings July 31, 2023 per email from Bask Bank today. Interest rate 4.88% with an APY of 5.00%.
A Year's Worth With This Bank
Admittedly, when I first tried this bank, I was chasing interest rates, and they have some of the best. However, they take forever to credit your account for an inbound transfer, holding your $ longer than my bank did back in 1980 when I was the one placing them. I am in the process of finding a different tertiary (for me) bank.
The good: above-average interest rates.
The okay: the information provided about one's account. The American Airlines points miles account is an interesting and unique option, though given today's interest rates is a lesser option than taking the interest, though I would think that miles aren't taxable?
The should be better: their website looks somewhat dated and uses small fonts. Limited CD offerings. Contacting & interacting with customer service. Limited external connections.
The bad: a long time to hold your funds.
Data as of Q1 2023
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 34383 |
| Year Established | 1997 |
| Employees | 2246 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.61% |
| Return on Equity - YTD | 5.36% |
| Annual Interest Income | $397.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2023vs Q1 2022 | $28.59B$31.08B |
| Loans | Q1 2023vs Q1 2022 | $19.84B$21.47B |
| Deposits | Q1 2023vs Q1 2022 | $22.36B$25.81B |
| Equity Capital | Q1 2023vs Q1 2022 | $3.27B$3.03B |
| Loan Loss Allowance | Q1 2023vs Q1 2022 | $260.9MM$211.2MM |
| Unbacked Noncurrent Loans | Q1 2023vs Q1 2022 | $97.0MM$65.2MM |
| Real Estate Owned | Q1 2023vs Q1 2022 | $0$0 |