What Do You Think Of Bask Bank New Website Layout?

acadapter | Sep 3, 2023 | 296 posts since 2018

I noticed Bask Bank, redid there website with a new layout where there are multiple layers showcasing there savings and CD accounts instead of just a picture of nature.

People were complaining how there website was less than desired but how about now?

Thank you

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Answers

enduser | Sep 5, 2023 | 711 posts since 2015

Other then the main page I have not seen any difference from the menu areas that I use at bask. I never had any issues with their website other then when trying to make a transfer. On the drop down list of accounts they do not identify the F.I. that those account numbers belong to. To identify an account you have to go to the manage external account area to see the FI name and account number, then go back to the transfer menu. A very poorly designed layout.

I also dislike their 6 monthly transaction policy, where inbound deposits count toward the 6 total monthly transactions. I much prefer that they enforce regulation d since that rule allows for unlimited inbound deposits but only counts outbound withdrawals towards the 6.

Also they need to step it up and raise the interest rate. Due to that reason alone I just keep a few dollars there and mostly use them for a quick transfer.

acadapter | Sep 6, 2023 | 296 posts since 2018

I wonder why Bask does the 6 monthly transcation policy 3 each inbound and outbound? So they do not enforce the regulation D just there own limitations? That is kind of strange but most people don't care and live with it.

enduser | Sep 7, 2023 | 711 posts since 2015

Bask terms-and-disclosures states that they do enforce reg d but all they seek is a 7 day notice of the intent to withdraw instead of stating the 6 withdrawal limit.

REQUESTING NOTICE OF WITHDRAWAL
We reserve the right under federal law and regulation to require not less than 7 (seven) days prior written notice from you of your intent to withdraw funds from an interest-bearing Account other than a certificate of deposit, or from any other savings Account as defined by
Regulation D.
https://www.baskbank.com/sites/default/files/terms-and-disclosures.pdf

From Investopedia
What Is the Federal Reserve Board Regulation D?
The Federal Reserve Board Regulation D sets reserve requirements for financial institutions. This is a monetary policy tool that also previously imposed a six-per-month withdrawal limit on savings accounts.
https://www.investopedia.com/this-government-regulation-restricts-how-often-you-can-move-money-out-o...

acadapter | Sep 7, 2023 | 296 posts since 2018

Thank you.

One last question, in the reviews on here, a lot of people complain about accounts being locked out due to possible fraud, what do you think about that?
I've read it's mainly due to transferring funds in than immediately transferring it back out. Is this something to be concerned about with Bask today? Thoughts?

enduser | Sep 8, 2023 | 711 posts since 2015

I never experienced any account lockout at bask, or any issues in regard to transfers other then those previously stated. My only other issue was that they did not lift or update my account status to allow larger transfer amounts. I did have to request my account to be unrestricted way after the 90 day period had lapsed. It was supposed to happen automatically but they never lifted the restriction until after i called and asked why.

GH1 | Sep 7, 2023 | 1,053 posts since 2017

no issues at all. Thanks for asking

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