Bask Bank is an online-only division of Dallas-based Texas Capital Bank. It offers interest savings and mileage savings accounts and a CD with four terms. The bank is also promoting an interest-earning checking account that's coming soon.
The Bask Interest Savings Account has no monthly fees and no minimum deposit or balance requirements. The account’s annual percentage yield (APY) is 5.10% as of May 20, 2024.
You’ll need to open an interest savings account before you can set up a Bask Mileage Savings Account. You can then earn 2.5 American Airlines AAdvantage® miles for every dollar saved annually with your mileage savings account. The account has no monthly fees and no minimum deposit or balance requirements.
CDs require a minimum deposit of $1,000, and you can choose from terms of six, 12, 18 or 24 months. APYs as of May 20, 2024, are 4.50% for the 18- and 24-month CDs, 5.15% for the 6-month CD, and 5.20% for the 12-month CD.
The bank offers customer support by phone or online only. Call 833-260-4320 from 7 a.m. to 7 p.m. Central time Monday through Friday and from 9 a.m. to 4 p.m. CT on Saturday. You can also send a secure message through your online account or complete an online form and get a response from a customer support agent.
The Bask mobile app provides quick account access as well. Use it to receive real-time transaction notifications, move funds between accounts, reschedule recurring deposits and reach customer support.
Bask Bank pros and cons
Pros:
• Competitive rates on savings account and CDs
• Chance to earn airline miles with mileage savings account
• No monthly fees and no balance requirements on savings accounts
Cons:
• No branch access
• No money market or checking accounts, though the bank says an interest-earning checking is coming soon
• No option to deposit cash
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.
The application process was a breeze, not sure what others are saying here. The transfer time is slow and I think it's because of security reasons as this bank is very strict on that, this is a good thing, however it can be bad as it's so strict on security that it can lock out it's own owners of the account.
The CD rates are competitive, though I wish it had more terms. No checking nor money market account here.
Texas Capital Bank, deposits are growing so that is a good trend.
Website says 5 days before deposited funds will be available. My first deposit Jan. 30….called on Feb 7 to inquire why account didn’t show funds available. Was told wasn’t processed until Jan 31….also they don’t count weekends as DAYS, even considering they are an Internet Only Bank.
Not the best way to start a new account.
Lord help you if you have a fraudulent charge on your account. It happened to me within two weeks of getting my debit card. They not only gave me bad information about the transaction, bad company name and bad amount, the charge they were referring to was an international charge that had a different exchange rate, so after being tricked into saying this charge was unrecognized, they put a stop on my card and told me to talk to customer support.
Talking to customer support was a nightmare, as their phone system is a complete wreck. It does not wait for input or let me finish entering numbers. I talked to their customer support rep, who sent me to Card Services, while Card Services told me to speak to customer support. This has happened for two days, and I'm completely blocked from accessing my money. Nobody here cares about your inconvenience, they just neglect responsibility. Beware.
Overall | |
---|---|
FDIC Certificate # | 34383 |
Year Established | 1997 |
Employees | 1939 |
Primary Regulator | FDIC |
Profit Margin | |
---|---|
Return on Assets - YTD | 0.54% |
Return on Equity - YTD | 4.68% |
Annual Interest Income | $840.4MM |
Assets and Liabilities | ||
---|---|---|
Assets | Q2 2024vs Q2 2023 | $29.73B$28.95B |
Loans | Q2 2024vs Q2 2023 | $21.55B$21.12B |
Deposits | Q2 2024vs Q2 2023 | $23.97B$23.48B |
Equity Capital | Q2 2024vs Q2 2023 | $3.39B$3.28B |
Loan Loss Allowance | Q2 2024vs Q2 2023 | $267.3MM$237.3MM |
Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $84.7MM$81.1MM |
Real Estate Owned | Q2 2024vs Q2 2023 | $0$0 |
Always verify rates and promotions with the bank or credit union. We are not Bask Bank; we are a rate comparison website and cannot provide official rates or promotions.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
4.85% | $0 | - | Bask Interest Savings Account |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
1.00% | $0 | - | Bask Interest Checking |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
4.65% | $1k | - | 3 Month CD | |
4.45% | $1k | - | 6 Month CD | |
4.30% | $1k | - | 9 Month CD | |
4.25% | $1k | - | 12 Month CD | |
3.90% | $1k | - | 18 Month CD | |
3.75% | $1k | - | 24 Month CD |
Bask Bank is an Internet only bank and does not have branch locations. Its headquarters is located at 2000 McKinney Avenue, Suite 700 - Dallas, TX 75201