About Bask Bank Accounts

    Does Bask Bank charge any fees?

    There are no monthly account fees associated with any Bask Bank account. Transaction service fees may apply to certain transaction types.

     

    For Bask Certificate of Deposit Accounts (CD), an early withdrawal penalty may be imposed if you choose to withdraw funds prior to maturity.

     

    For more information, see full details within our Bask Bank Fee Schedule

    Does Bask Bank have a minimum account balance?

    There is no minimum account balance for Bask Mileage Savings Accounts or Bask Interest Savings Accounts. However, if any account remains unfunded for 15 business days, we reserve the right to close the account.

     

    Bask Certificate of Deposit (CD) Accounts require a $1,000 minimum balance. Certificate of Deposit (CD) Accounts that do not receive an initial deposit of $1,000 within 10 business days will be closed.

    Do you offer a debit card or ATM card for Bask Bank accounts?

    Bask Bank does not offer ATM or debit cards.

    Does Bask Bank offer joint bank accounts?

    Yes. Joint accounts are available for Bask Interest Savings Accounts and Bask Certificate of Deposit (CD) Accounts. 

     

    Opening a joint account is easy and similar to opening an individual account. From the application page, choose “Joint Account” and enter the personal details of each applicant. Both applicants will need to be present and have their mobile device available for verification purposes. 

     

    To add a joint account owner to an existing account, log into Online Banking and select “Add a Joint Owner” under “Account Services.” Click “Invite Joint Owner” and follow the invitation steps. 

     

    Bask Bank will send an email invitation to the joint applicant with a link to confirm their identity.

    How many joint account owners can be on an account?

    Account owners can add one joint account owner and up to five beneficiaries per account.

    How many Bask Bank accounts can I have at once?

    You can have up to the following: 

     

    • Two individually owned and two jointly owned Bask Interest Savings Accounts

    • One individually owned Bask Mileage Savings Account

    • Five individually owned and five jointly owned Bask Certificate of Deposit (CD) Accounts per term length.

    Can I link external accounts to my Bask Bank Accounts?

    You can link up to two external accounts to your Bask Bank accounts.

     

    Follow these steps to link your external bank accounts within the Online Banking portal:

     

    • From the left navigation screen, select “Account Services,” “Manage External Accounts.”
    • Select “Link Account.”
    • Input your external financial institution's routing and account numbers.
    • Select the type of account (savings or checking).
    • Select “Link Account.”

     

    If you are unable to link instantly through the first verification, you may be prompted with additional linking options:

     

    1. Instant Verification through Plaid: This method will require your financial institution's username and password to link your account.
    2. Micro-Deposits: This method will require your external financial institution's account and routing numbers, as well as the type of account being linked (savings or checking). For this option, Bask Bank will deposit small sums into your external account that you will need to verify.

    What are micro-deposits and how do they work?

    Micro-deposits are used by financial institutions to verify account ownership and transaction capabilities. 

     

    Before deposits or withdrawals can be made, you will need to link your external account to your Bask Bank account. Once verified, you can easily transfer money between accounts.

     

    When you initiate the account link, Bask Bank will make two small deposits (e.g., $0.21 and $0.26) to your external bank account. Please allow one to three business days for the micro-deposits to appear.  

     

    Once the micro-deposits have posted, log into Online Banking to confirm the amounts. If you don't see the micro-deposits posted within three business days, please double check the routing and account number and try again. 

     

    If you initiate the account linking process from your external bank account, make sure to select "Savings" as the Bask Bank account type to avoid the risk of your funds being returned or rejected.

    Can I use my Bask Bank account to pay bills or to make purchases?

    Our accounts were built to help you maximize your savings and are not meant for everyday spending. Because of this, our Bask Interest Savings Account, Bask Mileage Savings Account and Bask Certificates of Deposit cannot be used to pay bills or make purchases (e.g Tax payments initiated directly through a government or county site). 

    Funding, Transfers, and Withdrawals

      How can I fund my account?

      You have several options to fund your account:

       

      • Transfer from an existing Bask account. This is the fastest way to fund your new account or CD.
      • Transfer from a non-Bask account. Log in to Online Banking to link your external bank account. You’ll need your account number and the nine-digit routing number. This will process as an ACH transaction that withdraws money from your account at another bank and deposits it into your Bask account or CD.
      • Wire funds from a non-Bask account. You’ll need to provide your bank with your new Bask account number and our ABA number, 111026177. 
      • Deposit a check using your mobile device. Download or open the Bask Bank mobile app from the App Store or Google Play Store and log in to Online Banking. From the quick-action menu bar, select “Mobile Deposit.” The check must be payable to you and endorsed before submitting. Mobile Check Deposit is not available for CD accounts.

       

      For more information about Funds Transfer Services, view our Account Agreement, Terms and Disclosures.

      How can I deposit money into my account?

      You have several options:

       

      • Transfer from a non-Bask account. Log in to Online Banking to link your external bank account. This will process as an ACH transaction that withdraws money from your account at another bank and deposits it into your Bask account.
      • Set up Direct Deposit. Have your payroll or benefits check deposited directly into your account automatically. Not only is it safer and faster than paper checks, you'll have same day access to your funds when and where you need it.
      • Wire funds from a non-Bask account. You’ll need to provide your bank with your new Bask account number and our ABA number, 111026177. 
      • Deposit a check using your mobile device. Download or open the Bask Bank mobile app from the App Store or Google Play Store and log in to Online Banking. From the quick-action menu bar, select “Mobile Deposit.” 

        Although the fastest way to deposit a check is through our Mobile Deposit feature, in some cases, we may accept check deposits by mail. To deposit a check by mail, endorse the check on the back with your signature and account number and mail it to: 

        Texas Capital Bank
        Attn: Richardson Financial Center
        2350 Lakeside Blvd.
        Suite 105
        Richardson, TX 75082

        Please allow additional time for processing delays due to mail time.  

        We may be unable to process your deposit if the check is not endorsed properly, is missing your account number, is not payable to you, or is a temporary check. 

       

      For more information about Funds Transfer Services, view our Account Agreement, Terms and Disclosures.

      Can I withdraw my money from Bask Bank at any time?

      For a Bask Interest Savings Account or Bask Mileage Savings Account, you may withdraw your available balance at any time. If you withdraw any portion of your funds from these accounts, you will still be awarded miles or interest based on the average monthly balance.

       

      For a Bask Certificate of Deposit (CD) Account, the account may be subject to penalties if you withdraw funds prior to the maturity date. If your accrued interest is less than the penalty’s total amount, the difference will be taken from your principal. Click here for more information on penalties related to Bask Certificate of Deposit (CD) Accounts.

       

      For more information about how you can access your funds, see full details within our Account Agreement, Terms and Disclosures.

      What are my online transfer limits?

      ACH transfers initiated in Bask Online Banking may be subject to transaction limitations. The dollar amount and monthly transfer numbers may vary based on banking relationship and account activity.

       

      The amount you can transfer ranges from $50,000 to $150,000 per transaction and $100,000 to $250,000 per day, and three to six transfers for a maximum of $150,000 to $300,000 per calendar month.

       

      If you need to withdraw more than the preset limits in Online Banking, call Customer Support at 833.260.4320 to learn about additional transfer options.

       

      Read more about withdrawals and transfers in our Account Agreement Terms & Disclosures.  

      How long does it take for a transfer to process?

      ACH credit and debit transfers originating from Bask Bank can take up to three business days to process. 

       

      ACH transfer credits from an external account to Bask Bank become available no later than five business days after the settlement date.

       

      For more information, please see the Funds Availability section of the  Account Agreement, Terms and Disclosures.

      Can I set up recurring and scheduled transfers?

      You can set up recurring and scheduled transfers or deposits through the Online Banking portal. 

       

      To set up a one-time or recurring transfer, log into Online Banking and select "Transfer" from the menu. Enter the transfer details and select the frequency from the drop-down menu.

      What is Bask Bank's ABA routing number?

      The routing number for both wire transfers and ACH transfers is 111026177.

      How do I send a domestic or international wire transfer?

      To initiate a domestic or international wire transfer, log in to Online Banking and follow these steps:

       

      On the web:

      1. From the left navigation screen, select "Transfer" then "Wire Transfer." Continue to 2. below.

       

      From the mobile app:

      1. From the navigation bar, tap "Menu," "Transfer" then "Transfer Funds."
      2. Select "New Payment."
      3. Choose "Domestic Wire" or "International Wire."
      4. As the originator, select the account you wish to transfer from and choose a process date.
      5. If you are sending money to a recipient for the first time, click "Add New Recipient" and enter the required information.
      6. Verify the transfer details and click "Approve."
      7. You'll get a prompt to receive a one-time code to verify your identity and confirm your request.

       

      In some cases, Customer Support may contact you by phone to confirm your wire request.

       

      By phone:
      To request help processing a wire transfer, contact Customer Support at 833.260.4320. They are available Monday through Friday between 7:00 AM to 7:00 PM and Saturday between 9:00 AM to 4:00 PM CT.

      What is the cut-off time for sending wire transfers?

      Domestic and international wire transfers sent before 5:15 PM CT, Monday through Friday, excluding Federal Holidays, will be processed the same day. Wire transfers initiated after 5:15 PM CT, will be processed on the next business day.

      Joint Accounts and Beneficiaries

        How do I add a joint account owner to my existing account?

        To add a joint account owner to your existing account, log into Online Banking and select "Add a Joint Owner" under "Account Services." Click “Invite Joint Owner” and follow the invitation steps. Bask Bank will send an email invitation to the joint applicant with a link to confirm their identity.

         

        Once approved, the joint account owner will receive a welcome email and access to Online Banking. Please note that the joint owner must meet identity and eligibility requirements.

        Can I add a joint owner to more than one account?

        Yes. From the Online Banking portal, you can add a joint owner to one or multiple accounts. 
        Joint accounts are available for Bask Interest Savings Accounts and Bask Certificate of Deposit (CD) Accounts.

        How long will the person I invite as a joint owner have to complete their application?

        From the day the invite is initiated, the joint applicant will have seven calendar days to complete their application.

        Where can I confirm the joint owner on my account(s)?

        To view joint account owners on your account, log into Online Banking and select "Add a Joint Owner" under “Account Services." 

         

        In the “Joint Accounts” section, approved joint account owners will be displayed below the account details.

        Can I remove a joint owner from my account?

        Once a person has been invited and agreed to become a joint owner on an account, they cannot be removed without closing the account.

        What happens if the invitation link expires?

        If the person you invited to become a joint account owner was unable to complete an application before the invitation link expired, you may request a new invitation link through the "Add a Joint Owner" section of the Online Banking portal under "Account Services."

        What happens to a joint account after the death of an account owner?

        Upon the death of a primary or joint account owner, the surviving owner will maintain ownership of the account and its funds.

        How can I add, update or remove beneficiaries to my Bask Bank account?

        You can add up to five beneficiaries per account. Log into Online Banking and select "Manage Beneficiaries" under “Account Services.” Beneficiaries can be added to one or multiple accounts. Please note that all beneficiaries added will have equal allocations and cannot be contingent beneficiaries.

         

        To add a beneficiary, you will need their full legal name, date of birth and social security number.

         

        From the "Manage Beneficiaries" section:

        1. Click "Add Beneficiary." 
        2. Enter the beneficiary details.
        3. Select the account(s) you want to include.
        4. Click "Save."

         

        To edit or remove existing beneficiaries:

        1. Click the three dots menu in the upper-right corner of the “Manage Beneficiaries” section, then click "Add/Remove Accounts."
        2. Select or unselect the account(s) to change your beneficiary's permissions.
        3. Click “Save." 
           

         

        Unselecting all accounts will delete the beneficiary, or you can select the "Delete Beneficiaries" option and follow the prompts to remove a beneficiary from your account.

        Can I add a trust as a beneficiary to my account?

        To add a trust as a beneficiary, please send a secure message to Customer Support and include the following information associated with the trust:

         

        • Legal title
        • Date of inception
        • Address
        • Email address
        • Phone number

         

        To access the Secure Message Center, log into Online Banking and select “Menu,” then click “Messages” to start a new conversation.

        Can I add a beneficiary as a joint owner?

        Yes. To add an existing beneficiary as a joint account owner, log into Online Banking and select “Add a Joint Owner” under “Account Services.” Click “Invite Joint Owner” and follow the invitation steps. 

         

        As an account owner, you can add one joint owner per account. If you have multiple beneficiaries on your account, their status as a beneficiary will not change.

        Statements

          How can I access my account statements?

          Account statements are available online at the beginning of each calendar month that your account is open. 

           

          To access your statements, log into Online Banking and select “Documents” from the menu. Select your account, then choose a statement to view from the drop-down menu.

           

          You will also receive an email notification when your statement is available. 

           

          As of June 1, 2020, all Bask Bank accounts with your e-sign consent are automatically enrolled to receive paperless statements, tax documents and notices.

          How do I dispute a transaction on my statement?

          If you believe there was a transaction error on your statement, please contact our Customer Support team at  833.260.4320 Monday through Friday between 7:00 AM and 7:00 PM CT and on Saturday between 9:00 AM and 4:00 PM CT. 

           

          You can also send a secure message by logging into your Online Banking account, locating the transaction under Transaction History, clicking the three dots menu on the right-hand side of the transaction and selecting "ask a question.” 

           

          You must notify us of any error or discrepancy within 60 days of the date the monthly statement which the disputed transaction first appeared or was made available to you in Online Banking. 

          How and when will I receive my tax documents?

          You’ll receive a copy of your 1099-INT form by mail to the address on file postmarked by January 31st of each year if the interest earned for the prior year exceeds $10 for all accounts held with Bask and Texas Capital Bank.

           

          1099-INT forms are also located in Online Banking under Documents. An email notification is sent when it becomes available online.

          How do I opt out of receiving paperless documents and request to receive paper documents through the mail?

          To request paper statements, tax documents and notices from Bask Bank, please contact our Customer Support team at 833.260.4320 or send a written request through the secure message center.

          Alerts and Notifications

            What types of things will Bask Bank notify me about?

            We’ll notify you when there’s been certain types of activity in your account so that you can monitor your account for security and convenience. 

             

            You will also receive an email notification when a Client Support Representative replies to a secure message or sends you a new secure message.

            What's the difference between security alerts and secure messages?

            Security alerts are emailed when an account has been flagged for potentially suspicious activity. 

             

            Secure messages are a function available in Online Banking as a convenient way to communicate with our Customer Support team about your account.

            How do I manage which alerts I receive?

            To manage security alerts, log into Online Banking, select "Profile & Settings" from the left-hand menu, then select "Notifications and Alerts." There, you can adjust specific settings for each type of alert.

             

            To manage secure message notifications, follow the steps above and navigate to the option "Alert me when I receive a secure message." Disable this option if notifications are not needed. 

             

            To unsubscribe from marketing emails and stop receiving marketing messages from Bask Bank, click the "Unsubscribe" link near the bottom of any marketing communication you’ve received from us.

            Profile and Access Information

              How do I access my Bask Bank account?

              You can access your account a variety of ways:

               

              • Access your account at BaskBank.com and log in with your username and password. We support Safari, Firefox, Google Chrome and Edge. We do not support Internet Explorer.
              • Download the Bask Bank mobile app and log in with your username and password. The app can be downloaded on the Apple App Store or Google Play Store.
              • Call our U.S.-based Customer Support Team at 833.260.4320 Monday through Friday from 7:00 AM to 7:00 PM CT and Saturday from 9:00 AM to 4:00 PM CT.

              What do I do if I forgot my username?

              To protect your account information, we do not provide an option to change your username online. If you have forgotten your username, call our Customer Support Team at  833.260.4320 and we can help you reset it.

              How do I change my password?

              You can change your password on the Bask Bank website or in the mobile app by clicking “Forgot password?” on the home screen and following the password reset instructions.

              How can I find my account number?

              Log in to Online Banking, select the account, and click “Account and Routing Numbers.”  

               

              You can also find your account number on your monthly statements. 

              Why does the rate I see look different from the APY that Bask Bank advertises?

              For Bask Certificate of Deposit (CD) Accounts and Bask Interest Savings Accounts, you may see the rate displayed in Online Banking as the simple interest rate, which does not include the effects of compounding interest. The Annual Percentage Yield (APY), which is often shown on our website and other communications, includes the benefits of compounding interest. Bask Bank compounds interest on your account daily, so the base rate translates into the correct APY on an annual basis. The base rate may appear as a lower number than the APY. 

               

              In the event that rates change mid-month for your Bask Interest Savings Account, the rate shown may reflect a weighted average of the rates applied during that month.

              How can I get help on the phone?

              Bask Bank provides telephone support Monday through Friday between 7:00 AM and 7:00 PM CT and on Saturday between 9:00 AM and 4:00 PM CT. If you can’t find what you’re looking for online or in the Bask Bank mobile app, call our Customer Support Team at  833.260.4320.

              Bask Bank Mileage Savings Accounts

                How do I earn American Airlines AAdvantage® miles?

                The Bask Mileage Savings Account awards 2.5 AAdvantage® miles for every dollar saved annually. Miles accrue daily and are awarded monthly based on your average monthly balance. For example, if the account’s daily balance for January is $60K, you will earn 12,740 AAdvantage® miles for that month ([$60K X 2.5] ÷ 365 × 31).

                 

                Note: The number of days is specific for each month being calculated. If that same balance is maintained in February, you will earn 11,507 AAdvantage® miles, since February has 28 days. After one year of maintaining an average balance of $60,000, the customer will have earned 150,000 AAdvantage® miles. As long as you maintain a balance in your Bask Mileage Savings Account, you will continue earning AAdvantage® miles.

                 

                For more information, see full details within our Account Agreement, Terms & Disclosures. Rates are subject to change. AAdvantage® miles awarded through Bask Bank do not count toward elite status qualification or AAdvantage® Million Miler status.

                When will mileage awards be processed and posted to my AAdvantage® account?

                You will start earning AAdvantage® miles on the business day we receive your deposit. Bask Bank awards the miles you earn for maintaining a balance each month on or before the fifth business day of the following month. For example, AAdvantage® miles earned throughout January will be posted in your Bask Mileage Savings Account on or before the 5th business day of February. Miles earned through Bask Bank will post to your linked AAdvantage® account within six to eight weeks.

                 

                If applicable, bonus AAdvantage® miles are awarded based on terms of the specific bonus offer. See the Bonus Miles Terms and Conditions for additional information.

                 

                Before earning miles, you must provide your AAdvantage® number to link your Bask Bank account. If you do not link the correct AAdvantage® number, miles earned through Bask Bank will not post to your American Airlines account.

                How do additional deposits and withdrawals impact my earning?

                AAdvantage® miles are accrued daily and awarded based on your average monthly balance. If you deposit more, you will earn more miles. If you make a withdrawal, your earned miles will decrease. For example, if you start with $36,500 you will accrue 250 AAdvantage® miles each day that you maintain that balance. If you then withdraw $10,000 and your new balance is $26,500, you will accrue 182 AAdvantage® miles each day. If you take all your money out in the middle of the month, you will have earned miles for the days where you maintained a balance.

                Are AAdvantage® miles earned through Bask Bank taxable?

                AAdvantage® miles awarded by Bask Bank for maintaining a deposit balance are viewed as interest income. This income will be reportable to the IRS and to you for the year in which the miles were posted to your AAdvantage® account. Bask Bank calculates an interest equivalent based on a good faith estimate of the value of the miles. Your interest rate and annual percentage yield may change based on a change in either the miles award rate or the estimated value. For tax purposes, miles are considered to have a value of 0.42 cents. At our current rate of 2.5 miles per dollar saved annually, this represents a taxable APY of 1.05%.

                 

                AAdvantage® bonus miles awarded for other activities will also be considered reportable as either miscellaneous income or interest income, depending on the nature of the award. Bask Bank will issue each customer the appropriate IRS Form 1099-INT for the AAdvantage® miles awarded each calendar year by January 31. For more information, visit our Account Agreement, Terms & Disclosures.

                 

                Bask Bank is not an accounting firm or law firm and is not offering tax or legal advice. Please consult with an appropriate professional regarding any questions about your personal taxes.

                Bask Certificates of Deposit

                  What is a Certificate of Deposit (CD)?

                  A certificate of deposit (CD) is a bank account that earns a fixed interest rate in exchange for locking in your deposit for a specified term. Bask Bank offers CD terms ranging from 6 months to 24 months.

                  How can I open a new CD?

                  If you’re new to Bask Bank, visit our Bask Certificates of Deposit Products page and click Choose your CD Rate. Select the CD term that works for you and follow the steps to complete your application. 

                   

                  If you already have an account with us, you can open a new CD account by logging in to Online Banking and clicking Discover Products. Once you’ve chosen the desired CD term, click Open CD. Follow the steps to complete your application.

                  What do I need to know about funding my new CD?

                  You must fund your new CD with a single, lump-sum deposit of at least $1,000 within the first 10 business days after opening the account. If your CD is not funded with at least $1,000 within 10 business days, your account will be closed automatically. Once you make the initial deposit, you will not be able to make any additional deposits until the renewal grace period at completion of the CD term.

                  Can I have more than one CD?

                  You can have up to five individually owned and five jointly owned CD accounts per CD term length.

                  Can I withdraw money from my CD early?

                  You may withdraw interest that has been credited to your account during the current term without penalty, but you will be subject to an early withdrawal penalty if any portion of your principal balance is withdrawn.

                   

                  • CDs with terms of 6 months up to and including 1 year are subject to a fee of 90 days of simple interest based on the principal amount withdrawn.
                  • CDs with terms greater than 12 months are subject to a fee of 180 days of interest based on the principal amount withdrawn.

                   

                  If your accrued interest is less than the penalty's total amount, the difference will be deducted from your principal.

                  Can I make additional deposits to my CD?

                  Funds may only be added to an existing CD account during the renewal grace period following the CD maturity date.   

                   

                  Additional CD accounts can be opened at any time. You can have up to five individually owned and five jointly owned CD accounts per CD term length.  

                  What happens when my CD matures?

                  Thirty (30) days before the end of your CD term, Bask Bank will send you a reminder that your CD is about to reach its maturity date. You'll have a grace period of 10 calendar days after the CD maturity date to add or withdraw funds, move funds into another Bask Bank CD account or adjust your term. 

                   

                  If no action is taken, your CD will automatically be renewed for the same term. You'll receive a renewal notice with the new rate after the grace period ends. 

                   

                  If you choose to close your CD during the grace period, log in to Online Banking and follow these steps to submit a CD Closure request: 

                   

                  On the web: 

                  1. From the left navigation screen, select Account Services then CD Closure Form. Continue to 2. below. 

                   

                  From the mobile app: 

                  1. Tap Menu on the navigation bar, then Account Services and CD Closure Form. 
                  2. From the drop-down menu, choose the CD account you want to close. 
                  3. Select your Bask or previously linked external account where you would like your funds transferred. To process a wire transfer, contact Customer Support. 
                  4. Select a reason for closure, review and check the box to accept the Closure Terms, then click Submit. 
                  5. You'll get a prompt to receive a one-time code to verify your identity and confirm your request.   

                   

                  For ACH transfers originating from Bask Bank to an external account, please allow up to three business days for processing. Transfers between Bask accounts are processed the same day.

                  Does the interest rate on my CD change?

                  The interest rate and Annual Percentage Yield (APY) are a fixed rate for the term length of the CD.  

                   

                  Read more about CD rates in our Account Agreement, Terms & Disclosures.  

                  No luck finding the answer to your question? Email or call us at 833.260.4320, and one of our customer support representatives will be in touch with you shortly.