Affiliate links for the products on this page are from partners that compensate us and terms apply to offers listed (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate banking products to write unbiased product reviews.
Business Insider's personal finance team compared Bask Bank to the best online 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 offers an interest-bearing checking account, but our best checking accounts guide has stronger options to consider.
Bask Bank Pros and Cons
Pros
- Earn 5.10% on the Bask Bank Interest Savings Account
- Earn 10,000 AAdvantage® bonus miles on the Bask Bank Mileage Savings Account
- Earn 1.00% on the Bask Interest Checking Account
- Nationwide ATM network
- Earn 2.5 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
Cons
- No money market account
- Select CD terms
- Online-only account
About Bask Bank
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.
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 Accounts
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 2.5 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 when you open a new Bask Mileage Savings Account between September 1, 2024 and November 30, 2024, fund the 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.
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 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.
That being said, if you're interested in a high-yield checking account, other online checking accounts offer higher rates on your balance. Just keep in mind that many high-yield checking accounts have requirements you need to meet to earn that high APY; Bask Bank doesn't put any limits on its 1.00% APY.
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.
Bread Savings Review
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.
Marcus Bank Review
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 5.10% APY. Bask Bank also has CDs paying 4.50% to 5.10% APY and a checking account paying 1.00% APY.
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.
Why You Should Trust Us: How We Reviewed Bask Bank
At Personal Finance Insider, we rate savings, checking, CD, and money market accounts using ourbanking methodologyandCD methodology.
Each account receives a rating between 0 and 5. We evaluate a bank's ethics, customer service, and mobile app 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.
Bask Bank Review: Overall Rating
| Product | Personal Finance Insider rating (out of 5) |
| Interest Savings Account | 4.25 |
| Mileage Savings Account | 4 |
| CDs | 3.5 |
| Interest Checking Account | 4.25 |
| Trustworthiness | 4 |
| Total | 4 |
Banking Editor
Sophia Acevedo is a banking editor at Business Insider. She has spent three years as a personal finance journalist and is an expert across numerous banking topics.ExperienceSophia leads Personal Finance Insider's banking coverage, including reviews, guides, reference articles, and news. She edits and updates articles about banks, checking and savings accounts, CD rates, budgeting, and general saving. Sophia was also a part of Business Insider's 2024 series "My Financial Life," which focused on telling stories that could help people live and spend better.Before joining Business Insider, Sophia worked as a journalist at her college newspaper and was a freelance writer. She has spent seven years writing and editing as a journalist.Sophia was nominated for an Axel Springer Award for Change in 2023 for her coverage of ABLE accounts, tax-free savings accounts for people with disabilities. She was also a winner of a 2018 California Journalism Awards Campus Contest for her photography.She loves helping people find the best solutions for their unique needs and hopes that more people will find the tools to solve their financial problems. She’s inspired by stories of everyday people adapting to their financial circ*mstances and overcoming their fears around money.ExpertiseSophia's expertise includes:
- Bank accounts
- Savings and CD rate trends
- Budgeting
- Saving
- How banks operate
EducationSophia graduated from California State University Fullerton with a degree in journalism and a minor in political science.Sophia is a member of the National Association of Hispanic Journalists.She is an avid reader across a variety of genres, and she started running in 2021. She ran in the 2024 Los Angeles Marathon.
Banking reporter
Kit Pulliam (they/them) is a banking expert who specializes in certificates of deposit, savings accounts, and checking accounts. They’ve been reporting, editing, and fact-checking personal finance stories for more than four years.ExperienceIn college, Kit worked as an undergraduate research assistant in a psychology lab. While there, they found that they were passionate about writing and helping others write about topics that matter.Before Business Insider, Kit was an editorial specialist for Tax Analysts, diving into the tax code to help readers get the best information about a confusing but necessary subject.They find banking similar to taxes in that way: There are some things everyone needs to know because just about everyone needs to work with a bank — and you don’t want to end up with an account that doesn’t serve your needs.As interest rates change, they enjoy the fast pace of reviewing rates for products like CDs and high-yield savings, which can change daily and have a direct impact on readers’ money.Their work has been featured in Business Insider and MSN. They were part of the My Financial Lifeseries with Business Insider.ExpertiseTheir expertise includes:
- Certificates of deposit
- Savings accounts
- Checking accounts
- CD rates
- Bank reviews
EducationKit is an alumnus of Vanderbilt University, where they studied English and psychology and received the Jum C. Nunnally Honors Research Award for their senior thesis.Outside personal finance, Kit enjoys reading, film, video games, and cross stitching. They are based in the DC area.
Compliance and Operations Associate
Evelyn He is a Compliance and Operations Associate on the Personal Finance team to ensure content accuracy and editorial independence so readers get up-to-date and objective financial advice.The compliance team's mission is to provide readers with fact-checked and current stories so they can make informed financial decisions. The team also works to minimize risk for partners by ensuring language is clear, precise, and fully compliant with regulatory and partner marketing guidelines that align with the editorial team.
Top Offers From Our Partners
Shop top CD rates on one of the largest CD marketplaces Easily compare and open CDs with rates up to 5.35% Annual Percentage Yield
For Bask Bank terms and conditions, please click here.
