Bask Bank Review: Pros, Cons, And Alternatives

Bask Bank is an online-only bank that offers a high-interest savings account and an interest-bearing checking account. They also offer certificates of deposit (CDs) and a savings account that allows you to accumulate American Airlines Miles with every dollar you save. 

It's a great way to accumulate travel rewards without needing a travel credit card. It all sounds pretty impressive, but should you switch your savings to Bask Bank? In this review, we'll cover the pros and cons and let you know how Bask Bank compares to other online banks. 

What Is Bask Bank?

Bask Bank is an FDIC-insured division of Texas Capital Bank. Launched in 1999, it offers high-yield savings and checking accounts, as well as CDs. However, the digital bank may stand out most for its Mileage Savings account, which pays American Airlines AAdvantage miles instead of interest for storing your hard-earned money. 

Deposits in Bask Bank are FDIC-insured up to $250,000, and airline miles are deposited directly to your American Airlines miles account.

What Do They Offer

Bask Bank offers four main products: the Bask Mileage Savings Account, the Bask Interest Savings Account, the Bask Interest Checking, and Certificates of Deposit. Here's a closer look at each account: 

Bask Mileage Savings Account

The Bask Mileage Savings account rewards account holders with 2 AA miles for every $1 saved.

Key Features:

• Limited Time Offer: Earn 10,000 AAdvantage bonus miles (Current offer expires February 28, 2026)
• No monthly maintenance fees 
• No minimum balance requirement 
• Earn 2 AA Miles for every $1 saved annually 
• Deposits are FDIC-insured 

Can Bask Bank Help Me Travel-Hack?

While it can vary, a round-trip, domestic flight (lower 48 states only) typically costs 15,000 miles for an economy fare. Assuming a flight value of $300, the value of each mile is just 2 cents. That's equivalent to a 2.0% APY, which is decent but not as high as what Bask Bank offers on its High-Interest Savings account (3.75%). 

If you have less than $10,000 in savings, the Mileage Savings account may not be worth it. For example, if you’ve got $5,000, it will take five years to earn enough points to pay for one round-trip domestic flight. With so many possible changes in the next five years, it seems like earning interest on your savings would be more worthwhile than points.

By contrast, if you keep a significant amount in savings (say $50,000 or more), Bask Bank could offer considerable value, especially if you plan to travel internationally (or even to Hawaii or Alaska). With a $60,000 balance, you can earn a round-trip economy-class ticket to Europe in just one year, without having to use a travel rewards credit card. 

Bask Interest Savings Account

If you're looking for a more traditional savings option, Bask Bank also offers a High-Interest Savings account. The account consistently earns one of the highest interest rates available today.

Key Features: 

• Offers an attractive Savings APY (currently 3.75%)
• No monthly maintenance fees 
• No minimum balance requirement  
• Deposits are FDIC-insured 

Note: While there is no minimum deposit requirement to open an Interest Savings account, if the account remains unfunded for 15 business days, Bask reserves the right to close the account. 

Bask Interest Checking Account

Not all online banks offer an interest-bearing checking account, but Bask does. Here's a closer look at its Interest Checking product:

Key Features:

• Earn 1.00% APY
• No monthly fees 
• Access to over 55,000 surcharge-free AllPoint ATMs
• Bank with the Bask mobile app 
• Set up scheduled bill payments through Bill Center (no fee)
• Deposits are FDIC-insured 
• Works with Zelle 
• Includes check-writing privileges (fee to order checks)

Bask offers a digital wallet where you can store your debit card and make purchases in-store, online, or through various apps using your mobile device. After ordering a Bask Debit card, expect it to take 7-10 business days to arrive. 

Bask CDs

If you're looking to maximize your interest and are able to lock in your savings for a preset period, Bask offers a range of certificates with competitive yields. 

There is a $1,000 minimum to purchase CDs. 

Are There Any Fees?

Bask does not charge any monthly maintenance fees on its savings and checking accounts. 

How Does Bask Bank Compare?

Bask Bank compares favorably to many online banks. For example, CIT Bank offers similar products, but its current APY on the High-Yield Savings Connect account is lower, at 3.65%, and a minimum opening deposit of $100 is required.

And PiBank has a superior APY of 4.60% on its high-yield savings; however, it does not offer a checking account, CDs, or any ATM access (Bask Bank's high-interest checking includes access to over 55,000 surcharge-free ATMs. 

How Do I Open An Account? 

According to Bask, you can open an account within a few minutes through its online application process. To become a customer, you must meet the following eligibility criteria: 

• Be 18 years of age or older 
• Have a valid social security number (SSN) 
• Have a mobile phone number 
• Have an email address 
• Have a physical U.S. address 

You will also need to provide Bask with acceptable ID at the time of account opening. This can include a State-issued driver's license or identification card, a U.S. passport, a permanent resident card, or a Tribal identification card. U.S. Military IDs are not acceptable as a form of identification. Like most online banking applications, you will likely be required to take a selfie with your mobile device and provide it along with a photo of your ID.

Is It Safe And Secure? 

Bask should be considered a safe and secure option for dealing with. The bank takes several precautions to protect your privacy and the money you hold on deposit with them. This includes two-factor authentication (2FA) for secure account login, security alerts, a secure messaging portal, online privacy protection, and account monitoring. The FDIC protects deposits. 

How Do I Contact Bask?

To contact a Bask Customer Support representative, you can call (833) 260 4320 from Monday to Friday, 7 AM CT to 7 PM CT, or Saturday, 9 AM CT to 4 PM CT. Bask is closed on Sundays. 

You can also fill out an online contact form on Bask's website and an agent will respond to your inquiry. And existing customers are able to send a secure message after logging into their account. 

Is Bask Bank Worth It?

If you're looking for an online savings account with no fees and one of the highest APYs on the market, then Bask Bank is well worth considering. We love the fact that, in addition to the Interest Savings, you can also get the convenience of a checking account that also earns interest. Not all online banks and fintechs offer that.

If you're an American Airlines AAdvantage member and are interested in Bask for the travel rewards offered through its Mileage Savings account, it's not clear whether it's worth having. On the surface, it appears to be a great way to maximize your travel points. But the question is, can you save enough for the miles to eclipse the interest you would earn in the regular Interest Savings account, or a high-interest savings account at another online bank?

In my opinion, people who already fly at least once per year and have at least $20,000 in savings could see value from Bask Bank. Those who fly less frequently, only travel in the lower 48 states, or have less than $20,000 in savings, won’t earn valuable flights fast enough. For people in that camp, a conventional high-yield savings account, including the Bask Interest Savings, makes more sense.