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.
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 July 31, 2023 per email from Bask Bank today. Interest rate 4.88% with an APY of 5.00%.
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.
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 |
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 |
---|---|---|---|---|
5.00% | - | - | Bask Interest Savings Account |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
5.25% | $1k | - | 6 Month CD | |
5.15% | $1k | - | 12 Month CD | |
4.50% | $1k | - | 18 Month CD | |
4.50% | $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