Everything you need to know about Bask Bank promotions; how to qualify, when the offers expire, how current promotions compare to previous bonuses, and more!
Bask Bank is an online bank that offers two compelling savings accounts – the Bask Mileage Savings Account and the Bask Interest Savings Account*. Customers can earn AAdvantage miles in the Mileage Savings Account or a remarkably high annual percentage yield in the Interest Savings Account.
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Current Bask Bank Promotions
Bask Bank is offering a new customer bonus of AAdvantage® Loyalty Points to open a Bask Mileage Savings Account and make qualified deposits while the Bask Interest Savings Account offers one of the top rates for a savings account.
Learn more about the latest Bask Bank offers and bonuses currently available for you right now.
Offer #1) Bask Mileage Savings Account – 5,000 Loyalty Points
Earn 2 American Airlines AAdvantage® miles for every $1 saved with the Bask Mileage Savings Account. It’s the only savings account that earns American Airlines AAdvantage miles.
And for a limited time, Bask Bank is offering 5,000 AAdvantage® Loyalty Points when you open a Bask Mileage Savings Account and fund your account $25,000 or more within 15 days of account opening.
How To Get Bonus Loyalty Points
- Open a Bask Mileage Savings Account during the offer period using this link (you must be a first-time customer).
- Fund your account with at least $25,000 within 15 calendar days following account opening.
- Maintain a $25,000 minimum daily account balance for 90 consecutive days out of the first 105 days following the initial account opening.
- Provide Bask Bank with an AAdvantage® account number in the same name as the subject Bask Mileage Savings Account.
- Receive 5,000 Loyalty Points reflected on your Mileage Savings Account within 10 business days once all conditions of the offer is met (Loyalty Points may take 6-8 weeks to post to the linked AAdvantage® account).
Offer period is September 15, 2022 to December 15, 2022. For information on the bonus terms and conditions, see here.
Offer #2) Bask Interest Savings Account – 3.85% APY
Earn a 3.85% APY with the Bask Interest Savings Account – one of the best savings rate currently available.
In fact, the APY is so good that it ranks third in our list of the best high yield savings accounts.
With no minimum balance and no monthly maintenance fees, the Bask Interest Savings Account is a great place to put your savings. You can access your account at anytime through Bask Bank’s website or using their app available on Apple and Android.
Yes. You can have one Bask Mileage Savings Account and up to five Bask Interest Savings Accounts. It’s easy to transfer funds between your accounts. So if you can’t decide between earning interest or miles, do both!
The Bask Mileage Account will ask for your AAdvantage number in order to link your account. If you don’t have one yet, you need to sign up for a free American Airlines AAdvantage account here.
The miles you earn will be added to your AAdvantage account and can be redeemed for award travel. While you can redeem miles for other items, award travel represents the best value.
For example, I redeemed 140,000 miles to fly my wife and I to Maldives in Qatar Airways business class (Qatar Airways is an airline partner of American Airlines and allows you to redeem AAdvantage miles with them). It was a tremendous value, as the tickets would have cost $8,500 if I had paid in cash.
Bask Bank has zero monthly account fees – see terms.
The bank is owned and operated by Texas Capital Bank, a financial institution founded in 1998 and headquartered in Texas.
Yes. Bask Bank accounts are provided by Texas Capital Bank, which is an FDIC member. The sum of your total deposits with Bask Bank and Texas Capital Bank are insured up to $250,000.
The Bottom Line
Both are compelling offers. As a mileage junkie, I’d probably lean towards the miles offer, but I can see how the high APY rate may be more appealing for others.
Let’s say you had $100,000 available for deposit and maintained the balance for a year at Bask Bank:
- Bask Mileage Savings Account: You’d earn 200,000 AAdvantage miles if you maintain $100,000 in this account for a year. I value AA miles at 1.5¢ per mile. In my opinion, 200,000 miles is worth a minimum of $3,000.
- Bask Interest Savings Account: Your balance would be $103,850 at the end of 12 months which means you’d earn $3,850 in interest.
At face value, the interest earned is worth more than the value of the miles. But just like my aspirational trip to Maldives, there are flight award redemptions worth quite a bit more than $3,000.
Not everyone travels or even wants to figure out how to extract the maximum value with miles though. If that’s you, then you should go for the Interest Savings Account.
Essentially, both are great accounts and appeal to different users. Choose the account that is best for your situation (or you can open both and transfer money back and forth as you see fit).
I first heard about Bask Bank a couple of years ago through travel bloggers (The Points Guy, One Mile at a Time, View from the Wing). If you know anything about them, then you know they’re crazy about earning points and miles.
Well, back in early 2020, Bask Bask had a tiered sign-up offer that awarded bonus AA miles based on the initial deposit amount:
- $25k Tier: Get 10,000 bonus AAdvantage miles when you deposit $25,000 and maintain that balance for 360 days.
- $50k Tier: Get 20,000 bonus AAdvantage miles when you deposit $50,000 and maintain that balance for 360 days.
- $100k Tier: Get 40,000 bonus AAdvantage miles when you deposit $100,000 and maintain that balance for 360 days.
This was on top of an existing offer that awarded 5,000 AA miles for depositing $1,000 and the earn interest rate of 1% that was being offered then.
Let’s say you opened an account at the time and deposited $100,000 within 60 days and maintained that balance for the full year. You’d earn:
- 5,000 miles from the fixed signup bonus offer
- 40,000 miles from the tiered signup bonus offer
- 100,000 miles from the standard earn interest rate
In total, you’d receive a whopping 145,000 AA miles. That’s enough, for example, to redeem for two roundtrip tickets to Maldives (like I did) in business class with 5,000 miles left to spare. Those tickets generally sell for at least over $4,000 each.
I doubt this offer will come back anytime soon, so I wouldn’t hold out from opening an account for that reason. Plus, the rates offered on either Bask Bank account is very competitive on its own.
I’ll add this to our list of the top bank bonuses.
Bask Bank is a division of Texas Capital Bank, Member FDIC.