07. November 2025
Admin
Bask Bank Review: High-Yield Savings & Travel Rewards—Worth It?
Bask Bank positions itself as an online-only bank offering some of the most competitive savings rates in the market, combined with unique travel-rewards options. But with those perks come some trade-offs worth knowing.
Quick Insight: If your priority is maximizing returns on savings and you don’t need branch access or full banking services, Bask Bank could be ideal. If you value breadth of services or in-person support, you may want to compare alternatives.
1. What Works Well
• Offers a savings account with high yield and **no monthly fees or minimum balance requirement**.
• Includes a travel-rewards savings account where you earn airline miles instead of typical interest—unique among online banks.
• Competitive certificates of deposit (CDs) are available for short to medium terms (up to two years) with attractive rates.
2. What to Be Careful About
• No physical branch locations—everything is digital. If you rely on in-person service, this may be a limitation.
• CD term options are relatively short (max two years) and there’s less variety in term length than some competitors.
• Some users have reported slower account setup, customer service delays or confusing mobile-app experiences.
3. Who It’s Good For
• Savers who have idle cash and want to earn significantly higher interest than standard accounts.
• Frequent travellers or aviation-miles enthusiasts who can leverage the miles-earning savings option.
• Digital-savvy individuals comfortable managing their banking entirely online without branch visits.
Final Thoughts
Bask Bank stands out in the crowded online banking market for its high savings yields and inventive travel-reward option. It’s a smart choice if you’re focused on deposits and digital convenience. However, if you’re looking for full-service banking, long-term CD laddering, or frequent branch interactions, you might want to explore other institutions.
Tip: Before opening an account, check the current interest rates, transfer times, minimum deposit terms, and whether the travel-reward option aligns with how you use rewards. Make sure the bank’s features match how you use your money.
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