Bask Bank Review: Checking, Savings and CDs
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Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.
Overview
Bask Bank is the online-only bank division of Texas Capital Bank based in Dallas, offering checking, savings and certificates of deposit. All of the bank’s accounts offer competitive rates and its savings and checking account have made our list of the best accounts for years.
The CDs also have strong rates, but are only available from three-month to two-year terms. Not all are the most common terms, so we did not include some of them as part of the overall bank rating.
No monthly fees.
Competitive rates.
Large, free, nationwide ATM network.
No minimum opening deposits on checking or savings accounts.
Extended phone customer service hours.
No cash deposit.
No branch access.
It was easy to set up my savings account, though my initial transfer took a little longer than expected. My rate changed within my first month, and I didn’t receive a notification, so I learned to keep an eye on it myself. The customer dashboard made most account functions easy to find.
Product reviews
Savings
Bask Bank’s Interest Savings Account offers a highly competitive rate with no monthly fee. There’s no minimum balance requirement or minimum deposit required to open the account, and you can earn interest on any balance. It’s been a contender on our best high-yield savings account list for years.
Checking
This checking account earns a competitive interest rate, with no requirements to earn the rate, and has no monthly fees. There is no minimum balance required to open the account, and customers have access to more than 55,000 surcharge free Allpoint ATMs.
At 5 stars, Bask Interest Checking consistently makes our best checking account and best rewards checking account lists due to its strong features.
But you won’t be able to deposit cash into this account or get your paycheck two days sooner via early direct deposit.
Bask Bank Interest Checking
Certificates of deposit
Bask Bank offers a few CD terms, ranging from three months to two years. Other banks offer a greater variety of term lengths, which can be beneficial for CD laddering. The minimum deposit to open an account is $1,000.
Bask Bank's shorter term CD rates are competitive: A six-month CD earns 3.90% annual percentage yield, or APY, and a one-year CD earns 4.35% APY. Those rates are many times higher than the national average rates of 1.39% and 1.76% for those terms.
Because there are relatively few CDs offered and not all are the most common terms, we did not include some of them as part of the overall bank rating.
Full List of Reviewed CD Rates
| Term | APY | Min Deposit |
|---|---|---|
| 3 months | 4.10% | $1,000 |
| 6 months | 3.90% | $1,000 |
| 9 months | 4.20% | $1,000 |
| 1 year | 4.35% | $1,000 |
| 2 years | 4.30% | $1,000 |
Bask Bank CD
Customer experience & overdraft fees
Customer experience
Bask Bank doesn’t offer access to branches, but its savings and CD rates are highly competitive and its checking account earns high marks from us, too. Funding and transfers can be made through the bank website or its mobile apps, which also allows mobile check deposit. The only other option is to wire funds. Bask doesn’t charge for incoming wires, but the sending institution might charge you a fee. Bask does charge for outgoing wires.
Customer support is available by phone from 7 a.m. to 7 p.m. CT time on weekdays and from 9 a.m. to 4 p.m. CT on Saturday. Support is also available by email and secure message once you’re a customer and can log in.
The mobile apps earn solid scores from both iOS and Android users.
Overdraft fees
Bask Bank does not charge overdraft fees but it also doesn’t have an overdraft program. A transaction that would overdraw an account would be declined. While this can help you reduce bank fees, it’s worth noting that other banks offer free overdraft protection, where customers can use a backup account — such as a savings account — to automatically cover overdrafts without rejecting the transaction.
» See more: Best banks for overdrafts
Rating methodology
How we rate banks and credit unions
Banking writers and editors use an objective methodology to rate banks, credit unions, and other providers, and to recommend the best products.
100+
Financial institutions reviewed
100+
Financial institutions reviewed
We took a close look at around 100 financial institutions and financial service providers, including the largest U.S. banks based on assets, internet search traffic and other factors; the nation’s largest credit unions, based on assets and membership; and other notable players in the industry. We rated them on criteria including annual percentage yields, minimum balances, fees, digital experience and more.
30+
Categories assessed
30+
Categories assessed
Each provider is evaluated across five weighted categories and 30 subcategories, including checking and savings accounts, certificates of deposit, customer experience, and overdraft services. For banks or credit unions without one or more types of accounts, the overall rating is modified to include only applicable categories. Institutions are not penalized if they don't offer every type of account.
60+
Data points analyzed
60+
Data points analyzed
We considered more than 60 data points for each provider. Depending on the category, these included account fees and rates (such as annual percentage yields), ATM and branch access, account features, account bonuses, customer service access and user-facing technology, such as innovative tools and mobile apps. We gathered this information for each financial institution from its website, a media representative or both.
Star rating categories
The review team is made up of seasoned writers and editors who cover personal banking deposit accounts, such as checking, savings and certificates of deposit, as well as related banking services, such as overdraft programs and ATM networks. For providers without one or more types of accounts, the overall rating is modified to include only applicable categories. Institutions are not penalized if they don't offer every type of account.
NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for banks and credit unions and our editorial guidelines.