Texas Capital Bank: Launched Bask Bank

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Texas Capital Bank: Launched Bask Bank

Texas Capital: Launches digital savings bank Bask Bank that earns American Airlines AAdvantage miles instead of interest

  • The neobank will give customers one ‘AAdvantage’ (AA) mile for every dollar they save
  • They believe the model is more lucrative for customers than interest rates
  • It uses the example of $60,000 in savings, earning what it deems to be “an industry average” of 0.09% in interest
  • Whereas this rate yields $54 a year, the rate of one mile per dollar gives customers 60,000 air miles
  • There will be an account opening bonus of 5,000 AA miles to its new customers
  • There are no fees, no minimum balance, easy to sign up and savers enjoy unlimited potential to earn miles