Bask Bank Review: Checking, Savings and CDs
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at Bask Bank, Member FDIC
- Savings
- Checking
- Certificates of deposit
- Customer experience
- Overdraft fees
Overall institution rating
4.5
Bask Bank is the online-only bank division of Texas Capital Bank based in Dallas, offering checking, savings and certificates of deposit. Though the bank offers certificates of deposit 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.
Best for: Savers looking for a solid online savings or checking rate.
Pros
- No monthly fees.
- Competitive rates.
- Large, free, nationwide ATM network.
- No minimum opening deposits on savings accounts.
- Extended phone customer service hours.
Cons
- No cash deposit.
- No branch access.
Full review
Bask Bank
Savings
Savings
Member FDIC
5.0
/5 NerdWallet ratingat Bask Bank
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.
Checking
Checking
Member FDIC
5.0
/5 NerdWallet ratingThis checking account earns a competitive interest 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.
Certificates of deposit
CD
Member FDIC
2.6
/5 NerdWallet ratingBask Bank offers a few CD terms, ranging from three months to two years. But if you are looking for a 3-year or 5-year CD timeframe, you will have to look somewhere else. 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.
» COMPARE: Best CD rates
Bask Bank's shorter term CD rates are highly competitive: A six-month CD earns 4.45% annual percentage yield, or APY, and a one-year CD earns 4.25% APY. Those rates are many times higher than the national average rates of 1.68% and 1.84% 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.
Customer experience
4.3
NerdWallet ratingBask Bank doesn’t offer checking accounts or access to branches, but its savings and CD rates are highly competitive. Funding and transfers can be made through the bank website or its mobile apps. 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. Central Standard Time on weekdays and from 9 a.m. to 4 p.m. CST on Saturday. Support is also available by email.
The mobile apps earn solid scores from iOS and Android users. For comparison, check out our list of best banks and credit unions for mobile banking.
Overdraft fees
4.4
NerdWallet ratingBask Bank does not charge overdraft fees. A transaction that would overdraw an account would be declined. While this can help customers reduce bank fees, it’s worth noting that other banks offer overdraft protection, where customers can use a backup account — such as a savings account — to automatically cover overdrafts without rejecting the transaction.
How does Bask Bank compare?
Current Product
Member FDIC |  Member FDIC |  Member FDIC |
|---|---|---|
NerdWallet rating 5.0 /5 | NerdWallet rating 4.5 /5 | NerdWallet rating 4.5 /5 |
APY 4.65% With $0 min. balance for APY | APY 4.00% With $0 min. balance for APY | APY 4.55% With $5,000 min. balance for APY |
Bonus N/A | Bonus $300 Earn up to $300 with direct deposit. Terms apply. | Bonus N/A |
Learn more at Bask Bank | Learn more at SoFi Bank, N.A. | Learn more at CIT Bank |
Methodology
NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, banking experience and overdraft fees. Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing technology, customer service and innovation. The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.
