Any Experience with "Bask Bank"?

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DrHT
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Any Experience with "Bask Bank"?

Post by DrHT »

They are offering a 1.25% APY high yield savings account. FDIC and associated with reputable banks in Texas -- though they are all online. The only real complaints I can find online are the fact that they don't offer joint accounts (so FDIC only up to $250,000) and transfers are a bit slow. But the APY seems well above what others are offering -- and even above short-term and no penalty CDs -- without any contingencies I can see? Thanks!
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Rob5TCP
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Re: Any Experience with "Bask Bank"?

Post by Rob5TCP »

Some information is here: plus a few reviews -- a couple talk about slow availability of funds

https://www.depositaccounts.com/banks/bask-bank.html
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LadyGeek
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Re: Any Experience with "Bask Bank"?

Post by LadyGeek »

This thread is now in the Personal Finance (Not Investing) forum (bank).
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LifeIsGood
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Re: Any Experience with "Bask Bank"?

Post by LifeIsGood »

If you have a question, forget about sending a secure message. My inquiry from 5/11/22 still hasn't been answered. Is there any was around the $100K/month transfer limit?
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nisiprius
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Re: Any Experience with "Bask Bank"?

Post by nisiprius »

It's a real bank, anyway. Interesting bank rating for Bask Bank and Texas Capital Bank::

Image

F for deposit growth? They need deposits pretty badly. Maybe that explains the high rate. I wonder why there was so much outflow decline in deposits at the most trusted bank in America?

They're a publicly traded company, ticker symbol TCBI, so there's a ton of business news about them... try a Google News search. It's clear that they are struggling with serious problems, though nothing at all to worry about with an FDIC-insured account. It sounds as if there's a lot of high-level turnover and it might not be much fun to work there, and the stock has been trading sideways as the stock analysts try to decide whether its various new initiatives are likely to work. for example
The company’s capital ratios remain above the levels required to be considered well-capitalized... Given the unsound liquidity position, its debt seems unmanageable. The company's significantly low cash levels will hurt if the economic situation worsens...
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jst
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Re: Any Experience with "Bask Bank"?

Post by jst »

I've used these guys for years for the AA miles accounts, and now I've switched over to the 1.25%.

No real problems with them ever. They don't really offer a lot of services, and their website isn't exactly feature-rich, but they have been paying the interest.
BuddyJet
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Re: Any Experience with "Bask Bank"?

Post by BuddyJet »

I’m still there for the miles.
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dwickenh
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Re: Any Experience with "Bask Bank"?

Post by dwickenh »

Opened an account 3 months ago starting at .70%, increased to .80% after 20 days and now changed to 1.25%. I've got my house money there slightly over the FDIC Ins coverage. Easy to contact and nice support so far. SO also opened an account there.

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HDM1004
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Re: Any Experience with "Bask Bank"?

Post by HDM1004 »

1.5% APR now.
Creditcardguy
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Re: Any Experience with "Bask Bank"?

Post by Creditcardguy »

This looks great at 1.5%. Instead of a Capital One Performance savings account at .9, this seems to be a much better option. Good timing.

Well, never mind. No joint accounts, 100k withdrawal limit per month, up to 5 businesses days to get funds. I use this for emergency funds and also to jump on a great deal quick.
Last edited by Creditcardguy on Tue Jun 21, 2022 7:33 am, edited 1 time in total.
patrick
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Re: Any Experience with "Bask Bank"?

Post by patrick »

They're no longer the highest -- per https://www.doctorofcredit.com/high-int ... gs-to-get/ you can now get 1.65% at First Foundation.
Creditcardguy
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Re: Any Experience with "Bask Bank"?

Post by Creditcardguy »

patrick wrote: Tue Jun 21, 2022 7:27 am They're no longer the highest -- per https://www.doctorofcredit.com/high-int ... gs-to-get/ you can now get 1.65% at First Foundation.
Thanks, I see they were .5 in April! Looks like savers might finally get some choices. Today is research day as I wave goodbye to Cap One Money Market.
mary1492
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Re: Any Experience with "Bask Bank"?

Post by mary1492 »

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Last edited by mary1492 on Thu Sep 29, 2022 3:06 pm, edited 1 time in total.
mary1492
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Re: Any Experience with "Bask Bank"?

Post by mary1492 »

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