Quick Read – Bask Bank’s Mileage Savings Account credits American Airlines (AAL) AAdvantage miles on your full balance, making it the only mainstream U.S. bank account structured this way. – Bask Bank also offers high-yield savings accounts and interest-earning checking…
counts, so your money is never sitting idle. – Miles earned in the Mileage Savings Account are taxable, not FDIC-insured once posted, and vulnerable to American Airlines devaluing its rewards program. Bask Bank is an online-only division of Texas Capital Bank built around a simple premise: pick how you want your savings to earn
The options are cash interest in a high-yield savings account, an interest-earning checking account, American Airlines (NASDAQ:AAL) AAdvantage miles, or a fixed return in a CD. Because my career is built on analyzing consumer banking products to help readers choose the best accounts for their money, my verdict on Bask is straightforward: if you already fly American or want competitive interest-earning online savings or checking accounts from an FDIC-insured U.S. bank, Bask is worth a close look. If you want branches, investment products, or a full digital ecosystem, it is not the right fit.
The Facts About Bask Bank As mentioned above, Bask Bank is a brand of Texas Capital Bank, N.A., a publicly traded commercial bank headquartered in Dallas. While Bask Bank may be a relative newcomer to the online banking space, Texas Capital Bank is a pioneer in virtual banking. In 1999, they launched the first online-only savings bank in the U.S.