Bask Bank Reviews

Average Rating:
Based on 23 review
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Like It So Far....No Lag Time On Transfer Deposit

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I opened account on 6-15 due to their 1.61% rate, it was easy to open and fund account, no need to upload ID, just answer a few personal questions, I also like their instant external linkup with PLAID......while incoming monthly deposit limit is 100k when initiating a pull at BASK, I called and a lady called back after 2 hours authorizing an additional deposit

what I like most is there is no lag time when I initiated pulls at BASK from three different external banks, my deposits showed up as current balance at BASK the same day they were withdrawn from externals....my experience is most banks pulling from their end have lag time that transfers don't show up from one to 3 days, not so with BASK

while current balance does take 5 days to change status to available (standard bank practice), not an issue unless one needs to use the funds right away, the important thing is I have verified with my latest statement that interests start accruing when deposits show up as current balance....that combining with no lag time, deposits via initiating pulls at BASK don't lose any interests

I also like their website, minor point off is I can not nickname external banks so I am double checking every time to make sure I am transferring from the correct bank

another thing is both ALLY and DISCOVER blocked my push transfers to BASK, I don't know if it's because BASK is small bank or it's confused with Texas Capital because BASK routing number shows as Texas Capital Bank, I had to send them proof of BASK account ownership to clear that up

so far I am happy with BASK, its operations from ease of account opening to timely funds transfer and interest accrual seem to be that of a pretty efficiently run bank

Beware Of Bask

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They lost quarter of their assets last year for good reasons.

BEWARE Of BASK BANK

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I recently opened an account with Bask Bank. I was soon after locked out of my account. I called the bank several times to get help but no one answers their phone. Then I chose the option to get a call back instead of waiting on hold but no calls were ever returned. I also sent emails to the bank asking for help but have received no replies.

I contacted their parent company, Texas Capital Bank, talked with someone there who said they would send forward my issue to the right person who could hep me and to expect a call back in a day or so but no one has returned my call.

I have contacted the BBB and filed complaints against both companies.

Don’T Fall For Thier High Rates

This bank is terrible not sure how the other reviewers missed these points:
$100k limit on deposits for each month
It’ll take 2.5 months to deposit $250k
5 days for your funds to clear
Just try and call their customer service or even bank
Left 2 stay in Q messages 3 days later no call back
$35 to send money out from them

Website has Chinese characters that display on it.
try your luck

All Positive So Far.

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Opened up with no problems. Was able to push from SoFi, and Marcus and SoFi appeared in the account later in day, and Marcus next day, but guess that has to do with the initiating bank. I pushed funds to SoFi and it was there next day. I'm not really concerned with the $100K monthly limit, since I can pull funds with limits based on external bank, which are both high enough. Initially, when they increased the rate to 1.50, the telephone csr was a long wait, but they did call back, well after 10 minutes. The hold times when initiating via Bask Bank is 5 business days just like Marcus or live oak, but pushed from external the funds were avail immediately.

So Far Not Bad

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Very easy to open. PLAID with BASK worked well with chase and citi but not well with Synchrony. BASK even tells you that Connectivity to Synchrony has issues.I have done lots of these so I am generally weary with speed in and out using push and pull methods before I commit.

Great Experience.So Far

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Opened acct 1 month ago. Easy peasy to open account. Ach transfers initiated by Bask appears next day in acct.Incoming wire transfers are free and appear within minutes. To add beneficiary you send an internal message. Answers to message requests usually take 1-3 days. CSR's on phone calls have been helpful and easygoing but I got various answers to whether you needed to unfreeze credit bureau accounts to open account. So I just unfroze all 3 for 1 day and had no problems with the opening. Hopefully they will stay at the top of the heap for the long term.

Very Easy To Open And Fund.

I’ve had no issues. I have this and SoFi account. Both have been great. Moved away from Ally Bank. They are just horrible.

Be Careful - Lesson Learned

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I moved my money to Bask Bank because of the higher interest rate. However, I have quickly learned a valuable lesson and wanted to help others from making the same mistake. I opened multiple accounts and transferred money into each account. I made a purchase and went to withdraw money to cover the purchase only to find that they wouldn't not allow me to transfer the money out. While it would only be the 2nd transfer in the month for this particular account, the count all of the accounts under one person towards the "6 transfer" limit, so once I made my deposits for the month, I had no more transfers for any of the accounts. I am now going to have a hefty fee from the overdraft of my checking account because they refuse to give 6 transfer per account and not per person.

Good Rate, Low ACH Withdrawal Limit

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The rate is good in comparison to other banks. However, compared to the other major online banks, like Ally, Marcus GS, CIT, etc., their dollar limit on withdrawals to externally linked bank accounts is way too low. It is only 100K per month, which may be okay for some, but not good if you need the money for a house, investment, etc. And, it is certainly much lower than the competition.

No Bank Is Perfect

Posted by: |

Opened account on...Feb 2, 2022.

PROS...
1. Highest rate available.
2. Interest earned on ANY amount.
3. Great customer service 6 days a week.
4. Smooth, simple application process.
5. 5 business days ACH availability.
6. Reasonable ACH limits.
7. User friendly account platform.
8. No cap on balance, However FDIC limit 250k.
9. Mobile app available.
10. Menu offers a "Feedback" form to Bask Bank.

CONS...
1. NO Joint accounts at this time.
2. Only 3 deposit transactions permitted in a monthly cycle, if originated on Bask platform. This requirement was waived for me on 2 occasions, with a simple phone call.

No Joint Accounts

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Only after opening an account I found out from their FAQ:
"We are currently not offering joint-ownership accounts. We will update you if this becomes available in the future."

New Account Denied

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I live in North Texas so was happy to have such a great rate available nearby, however my attempt to open an account was denied.
I'm assuming it's because all my credit reports are locked down and that is how they verify. Have requested a reason from them, will update if it's any other reason.

It Is A JOKE

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Just like a few reviews here: it’s 2022 and it takes 5 business days to have your $ available? WTF? I am closing this joker account as soon as I transfer my $ back to my original account. What a loser of a bank!

Refused My Account (788 FICO)

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Read the posts about this bank, you may want to bank elsewhere. 1.25% is going to be pretty common soon.

Suspicious Of Transactions

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Seems to take a long time to process items both incoming and outgoing. Requires TWO phone calls to accountholders to allow a transaction, that is, entry of two different expiring codes, one to identify yourself and another to do anything. Then transactions are "subject to review."

Zzzzzzzzzz...

Wow, does it ever take a long time for your funds to become available! As soon as I can get my money transferred out, I'm gone. In this day, and for an "internet bank" it's a joke that it takes this long after a transfer for the funds to become available. Save yourself the frustration and bank somewhere else.

Longer Than Normal Waiting Period For Deposit Availability

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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.

This Bank Seemed Perfect But....

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No joint account ownership. In this day and age I find this so unbelievable and really disappointing.

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