Business Insider's personal finance team compared Bask Bank to the best banks and found it to be a standard offering. Its CDs offer some of the top interest rates currently offered by nationwide banks and credit unions, though.
The Bask Bank Interest Savings Account and Bask Bank CD are overall solid options if you'd like to earn a high interest rate. The Bask Bank Mileage Savings Account may be a great choice if you frequently use American Airlines for travel. Bask Bank also offers one of the best high-yield checking accounts.
Bask Bank Overview
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. It also offers CDs and an interest-bearing checking account.
Bask Bank's mobile app is rated 4.6 out of 5 stars in the Google Play store and 4.7 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 Pros and Cons
Bask Bank Pros
- Earn 4.20% on the Bask Bank Interest Savings Account
- Earn 10,000 AAdvantage® bonus miles on the Bask Bank Mileage Savings Account
- Earn up to 4.00% on the Bask Bank Interest Checking Account as a base rate
- Earn an additional 3.00% APY on the Bask Bank Interest Checking Account (for a total of 4.00% APY) through August 29, 2025, when you meet qualifying activities
- Nationwide ATM network
- Earn 2 American Airlines AAdvantage miles for every $1 saved annually on a Bask Bank Mileage Savings Account
- High interest rates on CDs
- No monthly bank maintenance fees
- No minimum balance requirements
Bask Bank Cons
- No money market account
- Select CD terms
- Online-only account
Banking Options with Bask Bank
Bask Bank Savings Accounts
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 your Bask checking account or an external bank account and initiate a bank transfer.
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 2 American Airlines AAdvantage miles for every $1 saved annually on a Bask Bank Mileage Savings Account. 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.
Right now, there is also the opportunity to earn 10,000 AAdvantage® bonus miles for new Bask Mileage Savings Account customers who open an account and fund their account within 15 business days from account opening and maintain a minimum daily account balance of $50,000 for 180 consecutive days out of the first 210 days (offer expires May 31, 2025).
Bask Bank Certificates of Deposit
Bask Bank offers six CD options: a 3-month, 6-month, 9-month, 12-month, 18-month, and 24-month CD. Bask Bank CDs offer competitive interest rates. But if you're looking for terms over 2 years, our best CD rates guide includes long-term options.
Bask Bank Interest Checking Account
The Bask Bank Interest Checking Account is solid, offering interest on your balance, and a $0 minimum opening deposit. It also uses the Allpoint ATM network, so you'll have access to a large, nationwide ATM network.
Bask Bank offers a standard rate of up to 4.00% APY. The bank is also offering a promotion to earn an additional 3.00% APY from April 1, 2025, through August 29, 2025.
To qualify for the promotion, you must have a new or existing Bask Bank Interest Checking Account by June 30, 2025. Then, you'll have to make $2,500 in monthly automated deposits through the reward period. Lastly, you'll need to maintain an average monthly balance of $2,500 or more for April, May, June, July, and August 2025.
Is Bask Bank Trustworthy?
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 B rating from the BBB because it's received over 30 customer complaints on the BBB website. However, its parent company, Texas Capital Bank, has an A+ rating from the BBB.
Bask Bank Alternatives
Bask Bank vs. Bread Savings
Bask Bank may be a better choice if you're a frequent traveler. The Bask Bank Mileage Savings Account stands out from most savings accounts because you can earn American Airlines AAdvantage miles on your savings.
In terms of opening a high-yield savings account or CD, 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, while Bask requires none.
Meanwhile, for CDs, it will likely depend on the term you choose. Bread Savings has more CD terms, but you'll need at least $1,500 to open an account. Bask Bank has only four CD options, but you'll only need $1,000 to open a CD.
If you want to open a checking account, you'll probably prefer Bask Bank. Bread Savings doesn't offer any checking accounts.
Bask Bank vs. Marcus
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 Interest Savings Account currently pays a higher interest rate than the Marcus High Yield Online Savings Account.
Marcus has a variety of CD options, including a Marcus No-Penalty CD, which is a CD that doesn't charge early withdrawal penalties. Ultimately, the best option for you might depend on which CD you'd like to open.
If you want to open a checking account, Bank Bank is a more suitable option. Marcus doesn't offer any checking accounts.
Why You Should Trust Us: How We Reviewed Bask Bank
At Personal Finance Insider, we rate savings, checking, CD, and money market accounts using our banking methodology.
Each account receives a rating between one and five stars. We evaluate a bank's ethics, security, customer service, and mobile app, and miscellaneous features for all accounts. We also consider different features for specific types of bank accounts. For example, we look at monthly service fees for savings accounts and early withdrawal penalties for CDs.
We use a weighted average to get our star rating, which means we weigh certain features, like interest rates and fees, at a higher weight percentage than others. We understand that these areas can more heavily impact a person's overall banking experience.
Bask Bank Review: Overall Rating
| Product | Personal Finance Insider rating (out of 5) |
| Interest Savings Account | 4.5 |
| Mileage Savings Account | 3.5 |
| CDs | 3.5 |
| Interest Checking Account | 4.25 |
| Trustworthiness | 4 |
| Total | 4 |
Bask Bank FAQs
Is Bask Bank a legitimate bank?
Yes, Bask Bank is a legitimate financial institution. It is an online-only savings bank and division of Texas Capital Bank.
Is Bask Bank insured?
Yes, Bask Bank has FDIC insurance through its parent bank, Texas Capital Bank. Up to $250,000 is safe in an individual account. This means that if Bask Bank or Texas Capital Bank shuts down, your insured money is secure.
What interest rate is Bask Bank paying?
The Bask Bank Interest Savings Account paying 4.20% APY. Bask Bank also has CDs paying 4.00% to 4.35% APY and a checking account paying up to 4.00% APY. The checking account also has a promotion where you can earn up to 4.00% APY through August 29, 2025, when you have a new or existing account by June 20, 2025, complete $2,500 monthly automated deposits, and maintain an average monthly balance of $2,500 through the rewards period.
Does Bask Bank pay interest monthly?
Bask Bank compounds interest daily. Interest on the Bask Bank Interest Savings Account is credited on the last day of the statement cycle. Interest on Bask Bank CDs is also paid monthly.
Does Bask Bank come with a card?
Bask Bank's checking account does come with a debit card.
For Bask Bank terms and conditions, please click here.
