Bask Bank Interest Savings Account Review 2024

Bask Bank Interest Savings Account logo

Bask Bank Interest Savings Account

8.1 rating

Expert Take

The Bask Interest Savings Account is a popular savings account from Bask Bank, an internet-only bank. With a competitive 5.10% APY and no monthly account fees, it’s worth considering if you’re in the market for a new high-yield savings account.


  • Competitive rates
  • Fast and easy setup
  • Zero monthly account fees


  • No cash deposits
  • Transaction withdrawal limits

Bask Bank Interest Savings Account logo

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at Bask Bank Interest Savings Account

Founded in 1999, Bask Bank is an online-only savings bank that offers three attractive high-yield savings products: interest savings accounts, frequent flyer (mileage) savings accounts, and bank CDs.

Today, we’re reviewing the Bask Interest Savings Account in greater detail, highlighting some key features and pros and cons to consider.

Who Is Bask Bank?

Bask Bank is a division of Texas Capital Bank, a well-established, FDIC-insured financial institution with headquarters in Dallas, Texas. Texas Capital is the sixth-largest, state-headquartered financial institution, managing over $29 billion in total assets.

Unlike many banks that try to be a jack-of-all-trades, Bask offers a streamlined, stripped-down experience.

It focuses on a few core banking products, offering a best-in-class experience for Bask Bank CDs, high-yield savings accounts, and a mileage rewards savings account.

As an online-only institution, Bask Bank does not have physical branches. Customers must conduct all of their banking business through the bank’s website,, or the bank’s mobile app for Android and iOS devices.

Customer support, however, can be accessed online or offline through phone, live chat, email, or postal mail.

Bask Bank Interest Savings Requirements

To open a Bask Interest Savings Account, you must meet the following requirements:

  • Be at least 18 years old
  • Be a resident of the United States
  • Hold a Social Security number (SSN)
  • Have a valid driver’s license or other government-issued ID
  • Have a mobile device (to submit required documents and for MFA security)

There is no minimum opening deposit requirement.

What to Expect

  • Interest rate: 5.10% APY
  • Availability: Nationwide
  • Monthly fees: $0 — no account maintenance fees, but certain transaction fees may apply
  • Early termination fees: N/A

The account set-up process is quick and straightforward. There are no monthly account fees, no minimum balance requirements, and no minimum deposit amount to get started.

If you wish to add any beneficiaries to your account, you’ll need their names, birthdates, and Social Security numbers.

How To Open a Bask Bank Interest Savings Account

An account opening takes about five (5) minutes if you have all the basic required information.

  1. Go to
  2. Select the Interest Savings account option to begin the process.
  3. Provide your full name, Social Security number, email, birthdate, phone number, and mailing address.
  4. Submit any requested documents (i.e., a photo of your driver’s license) in the Bask Bank app.
  5. Make your first deposit to fund and start using your account.

How to Add Money to a Bask Interest Savings Account

To add money to your Bask Bank account, you have several options.

  • Transfer from an existing Bask account: This is the fastest way to fund your new account. It can be done within seconds online.
  • Transfer from a non-Bask account: Log in to Bask online banking and provide your external bank account information. You’ll need to provide the account number and nine-digit routing number. This will process as an ACH transaction that withdraws money from your external account and deposits it into your Bask account.
  • Wire funds from a non-Bask account: Give your external bank your new Bask account number and the Bask ABA number of 111026177. Just keep in mind that your bank may charge funds for making an outgoing wire transfer.
  • Make a mobile deposit: Download or open the Bask Bank mobile app from the Apple App Store or Google Play Store. Log into your account. From the main menu bar, select “Mobile Deposit.” Sign the back of the check.
  • Set up direct deposit: Ask your work’s payroll department to have funds transferred into your Bask savings account automatically on each pay period. This is one of the fastest, safest ways to get funds into your account and will provide immediate, same-day access.
  • Mail in your check. While other deposit options are faster, customers can endorse their check and mail it to the bank for account deposit. Send the signed check with your account number to Texas Capital Bank, Attn: Richardson Financial Center, 2350 Lakeside Blvd., Suite 105, Richardson, TX 75082.

Pros and Cons

A high-yield savings account offers tremendous upside, but like any account, there are some pros and cons to consider with the Bask Bank Interest Savings Account.


  • Competitive rates: Bask’s Interest Savings Account earns one of the highest rates in the nation for savings accounts with no minimum balance requirements.
  • Zero monthly account fees: There are no monthly account fees for account maintenance or minimum balance requirements.
  • Fast and easy setup: A Bask Interest Savings Account can be set up in five (5) minutes online.


  • Transaction withdrawal limits: Limited to $100,000 per transaction per day for online withdrawals, up to $150,000 per month for online withdrawals.
  • No cash deposits: A common pain point among online banks, Bask Bank doesn’t provide an option for Interest Savings account holders to deposit cash.

Bask Bank Reviews from Real Users

Here’s what actual customers have to say about doing business with Bask Bank.

I’ve been with Bask Bank for about 8 months and have had zero issues. Highest interest rate in the savings game on your full balance and with no surprises. I’ve read reviews for other banks where they lowered the interest rate after 3 months. Deposits take 5 business days to credit to your account but you start earning interest as soon as you make the deposit. Every time I’ve called customer service, they pick up the phone immediately and everyone so far has been very helpful and professional. They have limits on transfers but you can make up to six per month which is a lot, I think. Good usable website and app as well.

The application process was a breeze, not sure what others are saying here. The transfer time is slow and I think it's because of security reasons as this bank is very strict on that, this is a good thing...Texas Capital Bank, deposits are growing so that is a good trend.

The rate is good in comparison to other banks. However, compared to the other major online banks, like Ally Bank, Marcus GS, CIT Bank, etc., their dollar limit on withdrawals to externally linked bank accounts is way too low. It is only 100K per month, which may be okay for some, but not good if you need the money for a house, investment, etc. And, it is certainly much lower than the competition.

Frequently Asked Questions

When Will My Initial Investment Be Available?

Depending on how your account is funded, it could be available right away or it could take up to five (5) business days.

ACH debit and credit transfers that originate from Bask Bank may take up to three (3) business days to process, and ACH transfers from an external bank account may take up to five (5) days to credit to your Bask account.

For check deposits, Bask’s “general policy” is to make funds available on the first business days after receiving your check deposit.

When Will My High Yield Savings Account Begin Earning Interest?

Your high-yield savings account begins earning interest on the same business day that the funds clear, so it depends on the method you use to transfer the funds. Some customers state that they begin earning interest on the same day that they initiate a deposit or transfer, even if it takes the funds some additional business days to credit.

How is Interest Calculated?

For its interest savings account, Bask Bank compounds interest daily. The base rate translates into the APY on an annual basis. As of the date of this article’s publication (in June 2024), the base interest rate for a savings account was 4.97%, which translates into an APY of 5.10%.

Is the Bask Bank Interest Savings Account FDIC Insured?

Yes, Bank Bank is a member FDIC-insured bank which means your deposits are protected up to $250,000 per account per depositor. Internet-only banks are commonly member FDIC institutions and subject to the same regulatory oversight and compliance with federal banking laws and. regulations as brick-and-mortar banks.

Is a Bask Bank Interest Savings Account Best For You?

Overall, the Bask Bank Interest Savings Account is one of the best high-yield savings accounts you’ll find. It’s a solid option if you’re looking for an FDIC-insured account with competitive interest rates, no monthly fees, and limited temptation (linked checking) to spend your savings.

If you want a streamlined banking and personal finance experience, where you can do it all under one roof, then Bask Bank isn’t the best fit. But if you’re laser-focused on saving money and getting the best savings account rates, the Bank Bask Interest Savings Account could be an excellent choice.

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