Bask Bank has two online savings accounts: the Bask Bank Interest Savings Account and Bask Bank Mileage Savings Account.
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The bottom line: Bask Bank has two standout savings accounts. The Bask Bank Interest Savings Account is an excellent choice if you’d like to earn a high interest rate, and the Bask Bank Mileage Savings Account may be an ideal option if you frequently use American Airlines for travel. If you’re looking for a checking account or a CD, you’ll want to consider other financial institutions.
Pros and cons
ProsCons
Earn Bask Bank Interest Savings Account on the Bask Bank Interest Savings Account
Earn an American Airlines AAdvantage mile for every $1 saved annually on the Bask Bank Mileage Savings Account
No monthly service fees
No minimum balance requirements
No checking account, money market account, or CDOnline-only accountNo joint bank accountsNo debit card, ATM card, or ATM networkLackluster mobile app ratingsMust transfer money to an external bank account to access savings
Bask Bank Interest Savings Account
Bask Bank pays a competitive interest rate that’s higher than what many traditional and high-yield savings accounts pay right now. You may like the Bask Bank Interest Savings Account if you’re searching for a high-yield savings account with zero monthly service fees or minimum balance requirements.
The one downside to the Bask Bank Interest Savings Account is you’ll have limited access to your account. To deposit or withdraw money, you’ll need to link an external bank account and initiate a bank transfer.
Bask Bank Mileage Savings Account
You might find the Bask Bank Mileage Savings Account appealing if you frequently travel. The Bask Bank Mileage Savings Account is a unique savings account that lets you earn an American Airlines AAdvantage mile for every $1 saved annually. You can redeem miles for booking flights or hotels, upgrading flights, renting transportation, or planning vacation activities.
To earn AAdvantages miles, you must provide your AAdvantage account number. Otherwise, you won’t be able to earn miles.
How Bask Bank works
Bask Bank is an online division of Texas Capital Bank. It has two types of savings accounts: the Bask Bank Interest Savings Account and Bask Bank Mileage Savings Account.
The online-only bank doesn’t have ATMs, debit cards, or ATM cards. You’ll need to link an external bank account and transfer funds if you’d like to deposit money into your account.
Bask Bank’s mobile app is rated 3.4 out of 5 stars in the Google Play store and 4.3 out of 5 stars in the Apple store.
If you have questions about a bank account, call customer support from 7 a.m. to 7 p.m. CT on Mondays through Fridays, or 9 a.m. to 4 p.m. CT on Saturdays.
Your deposits are FDIC insured through Texas Capital Bank. Up to $250,000 is secure in a bank account.
Bask Bank trustworthiness and BBB rating
Bask Bank hasn’t been involved in any recent public settlements.
We use also ratings from the Better Business Bureau so you can see how a bank addresses customer issues.
Bask Bank received a D+ rating from the BBB because it hasn’t responded to a customer complaint. However, its parent company Texas Capital Bank has an A+ rating from the BBB.
BBB ratings aren’t necessarily the be-all and end-all. To see if a company is ideal, you may also read online customer reviews or talk to current customers.
Bask Bank vs. Bread Savings
Bread Savings is another online-only bank. See how the two institutions match up below.
Bask Bank
Bread Savings
Savings APY
Bask Bank Interest Savings Account
Savings APY
Bread Savings High-Yield Savings Account
Types of accounts
savings accounts
Types of accounts
savings accounts, CDs
Bask Bank Interest Savings AccountBread Savings High-Yield Savings Account
Bask Bank may be a better choice if you’re a frequent traveler. The Bask Bank Mileage Savings Account stands out out from most savings accounts because you can earn American Airlines AAdvantage miles on your savings.
Meanwhile, Bread Savings could be a better option if you’re planning to open a CD. Bask Bank doesn’t have any CDs.
In terms of opening a high-yield savings account, it could be a toss-up between the two banks. The Bask Bank Interest Savings Account and Bread Savings High-Yield Savings Account stack up pretty evenly against one another. The most notable difference between the two accounts is that the Bread Savings High-Yield Savings Account requires a minimum opening deposit of $100.
Bask Bank vs. Marcus
We compared Bask Bank to Marcus, an online-only institution with a high-yield savings account and CDs.
Bask Bank
Marcus High Yield Savings
Savings APY
Bask Bank Interest Savings Account
Savings APY
Marcus by Goldman Sachs High Yield Online Savings Account
Types of accounts
savings accounts
Types of accounts
savings accounts, CDs
Bask Bank Interest Savings AccountMarcus by Goldman Sachs High Yield Online Savings Account
You’ll likely prefer Bask Bank to Marcus if you are strictly looking to earn a high interest rate on a savings account. The Bask Bank Mileage Savings Account currently earns a higher interest rate than the Marcus by Goldman Sachs High Yield Online Savings Account.
Marcus will probably be your go-to option for CDs since Bask Bank also doesn’t offer any CDs. Marcus has a variety of CD options, including a Marcus No-Penalty CD, which is a CD that doesn’t charge early withdrawal penalties.
Frequently asked questions
Is Bask Bank an online bank?
Yes, Bask Bank is an online-only savings bank and division of Texas Capital Bank.
Can I open both the Bask Bank Interest Savings Account and Bask Bank Mileage Savings Account?
Yes, you’re allowed to open both accounts. There are limits to how many accounts you can open, though. You’re permitted to open one Bask Mileage Savings Account and up to five Bask Bank Interest Savings Accounts.
Does Bask Bank have a transfer limit?
Yes. Customers may transfer up to $150,000 per transaction, $250,000 per day, and $300,000 per month from their Bask Bank account to an external account.