Bask Bank Review 2024
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At a glance
CDs
Savings
About Bankrate Score
Overview
Bask Bank is best for consumers looking for a savings account that earns a competitive yield, requires no minimum balance and charges no monthly maintenance fee.
Highlights
- High APY
- Top CD Rates
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Checking rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Overall
Bask Bank is an online bank that offers a high-yield savings account that earns interest and another rewards-based savings account that earns American Airlines miles. It also offers six terms of CDs ranging from three to 24 months.
Pros
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Bask Bank pays one of the highest APYs on its Interest Savings Account.
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Bask Bank offers a rare opportunity to earn miles with its Mileage Savings Account.
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Yields on CDs are very competitive.
Cons
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Bask Bank doesn’t offer a checking or money market account. (But a checking account is reportedly coming soon.)
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Your CD may be closed if you don’t fund it within 10 business days or if you don’t deposit money into a Bask savings account within 15 business days.
We want to know what you think about Bask Bank
Do you have experience with Bask Bank? Let us know your thoughts.
Bask Bank banking products
APY last updated between 11/14 and 11/20.
Bask Bank savings overview
Its Interest Savings Account offers customers a very competitive yield, has no minimum balance requirements and charges no monthly service fee. An initial deposit must be made within 15 days to keep the account open.
Bask Bank also offers a Mileage Savings Account, which allows account holders to earn American Airlines miles, based on the monthly balance.
Bask Bank charges a $35 outgoing wire transfer fee — at the top end of what most banks charge for domestic wire transfer fees.You’re limited to having one single Mileage Savings account. But you can have two single Interest Savings accounts and two joint Interest Savings accounts.
Pros
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Bask Bank offers a unique savings account for earning miles.
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Bask Bank’s Interest Savings Account offers a top-tier yield.
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There are no monthly account fees.
Cons
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Known customers can only transfer a maximum of $150,000 per transaction, $250,000 per day and $300,000 per month via online transfers. New customers have online transfer limits of $100,000 per transaction and per day and $150,000 in a month.
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You can only have one mileage savings account at Bask Bank.
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See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
Bask BankAPYAPY last updated between 11/14 and 11/20.APYAPY last updated between 11/14 and 11/20.National average APYHow do we get this data?Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.
Bank fees
| Fee | Charged? | |
|---|---|---|
| Overdraft fee | None | |
| Non-sufficient funds fee | None | |
| Monthly maintenance fees | None | |
| Out-of-network ATM fee | N/A | |
| Excessive transaction fee | None |
Customer experience
Customer service. Bask Bank offers phone customer service hours six days a week: 7 a.m. to 7 p.m. Central time from Monday through Friday and 9 a.m. to 4 p.m. on Saturday.
Digital experience. Bask Bank’s mobile app scored highly both for iOS and Android. Upon logging into your account, you can view available balances for your accounts with Bask Bank as well as any interest earned to date.
Bankrate staff insights
“The reason I chose Bask Bank over others was that they had a highly competitive interest rate that has yielded way more than my traditional brick-and-mortar bank has offered in years,” said a Bankrate staff member with a Bask Bank account.
Disclosure: To enhance our product reviews, Bankrate employees often open accounts and provide feedback. They may have been compensated for their time and account maintenance, but this does not affect the integrity of their review.
The above images were last updated on Dec. 11, 2023.
About Bask Bank
Bask Bank is an online bank that offers two types of savings accounts: one that earns a competitive annual percentage yield and another that earns American Airlines miles. Bask Bank got its start in January 2020 and is a division of Texas Capital Bank. Bask Bank also offers four terms of CDs.
How Bask compares to other banks
Compare different account types offered by Bask Bank. Annual percentage yields (APYs) shown were updated between Nov. 14, 2024 and Nov. 20, 2024.
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Selected bank
Bask Bank savings account
Bankrate score
5.0
Bankrate Savings rating = 5.0/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
Most comparable
Citizens Access savings account
Bankrate score
4.9
Bankrate Savings rating = 4.9/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
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Bankrate score
Bankrate Savings rating Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
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APY
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between Nov. 14, 2024 and Nov. 20, 2024.
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| 4.65% | 4.15% | |
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Minimum balance for APY
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| $0.00 | $1.00 | |
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Estimated earnings
Interest earned calculation based on a $50,000 deposit amount for a period of 1 year and is rounded to the nearest dollar. Exact earnings are dependent on calendar year, balance, and compounding frequency. Minimum deposit rules may apply.
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| $2,325 | $2,075 | |
| Bask Bank’s Interest Savings Account earns a highly competitive APY, with no minimum balance requirement or monthly fees. The bank also offers a Mileage Savings Account, which allows you to earn American Airlines miles as rewards, based on your monthly balance. | Citizens Access offers a high-yield savings account with a minimum opening deposit of just one cent. This online bank doesn’t charge monthly service fees and offers a highly rated mobile app. | |
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N/A
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N/A
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APY offering:
4.65%
5/5
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
Minimum balance for APY:
$0.00
5/5
The lowest deposit amount an account must have before it can earn interest.
Monthly service fee:
$0.00
5/5
A monthly charge a financial institution deducts from an account if certain requirements are not met.
Minimum balance to avoid fee:
$0.00
5/5
The lowest balance an account must maintain in order to avoid a fee.
Access to funds:
Great
5/5
A procedure that allows an individual or organization to access and manage the funds of another account holder.
|
APY offering:
4.15%
5/5
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
Minimum balance for APY:
$1.00
5/5
The lowest deposit amount an account must have before it can earn interest.
Monthly service fee:
$0.00
5/5
A monthly charge a financial institution deducts from an account if certain requirements are not met.
Minimum balance to avoid fee:
$0.00
5/5
The lowest balance an account must maintain in order to avoid a fee.
Access to funds:
Good
4/5
A procedure that allows an individual or organization to access and manage the funds of another account holder.
|
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
The lowest deposit amount an account must have before it can earn interest.
A monthly charge a financial institution deducts from an account if certain requirements are not met.
The lowest balance an account must maintain in order to avoid a fee.
A procedure that allows an individual or organization to access and manage the funds of another account holder.
Bankrate does not currently track additional product details for this bank.
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Bask Bank FAQs
Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
Bask Bank customer reviews
Bask Bank has 20 reviews
Dive into community reviews below and see what others think about Bask Bank.
In July 2024, Bankrate collaborated with a third-party vendor to survey 1,200 bank account holders nationwide. Bankrate and our vendor collected and summarized account holder responses to five rating questions on a 5-point scale as well as open-ended reviews of the banking experience. Responses are based on individual account holder product details, and therefore cannot be verified for accuracy. Reviewers received an incentive for their feedback. Their ratings are unedited and have not been reviewed or approved by the associated bank or credit union, nor do these responses reflect Bankrate's own expert review of these banking products.
Community Reviews
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