If you have a savings account, you may know that a lot of banks offer high yields on your savings. However, Bask Bank does it in a very unique way. Its Mileage saving account helps you earn free traveling miles.
This means that you can fly by airline to any destination that is under your earned mileage limit. For people who travel frequently, this is an ideal account. I’ll go over additional details regarding this bank in this article.
Now let’s get started.
Bask Bank – Overview
Bask Bank is an online banking system that is a division of Texas Capital Bank. It is primarily famous for offering savings account services to its customers. People can create an account on it and save their money. Just like any other bank, it also offers yielding on this money. Here are the accounts you can open on it:
Interest Savings Account:
Like all other savings accounts at a regular bank, this one operates in a similar manner. You keep your money here and get a monthly interest amount.
The difference here is that the Bask Bank offers a competitive interest rate. It also doesn’t charge any monthly fee for this money. Besides that, your deposits are by the Federal Deposit Insurance Corporation.
Mileage Savings Account:
What makes this bank stand out is its Mileage Savings Account. As mentioned earlier, it earns you traveling miles instead of direct interest. You can earn them with each dollar you deposit in this account. This account will be the main topic that we will discuss further.
How Does Bask Bank Mileage Savings Account Work?
The working procedure of this account is similar to a normal savings account. However, it earns you flying miles. The bank has partnered with American Airlines for this purpose. This means that the miles you earn are through the AAdvantage program of this company.
The number of miles you earn is also very interesting. For every $1 you save in this account each year, you will receive 2.5 miles. Let’s use an example to better comprehend it. Assume you have about $5,000 saved in this account. You will receive 12,500 miles (in a single year).
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Why Bask Bank is an Easy Way of Earning Miles?
The following points explain this factor:
- It has a simple earning structure. It doesn’t work like any other credit card-earning rewards. The number of miles you earn is fixed.
- You don’t have to spend any type of money on this program. You will get a reward based on the money you save in the account.
- Your accruedmiles are calculated on daily basis. The bank does it automatically as well.
- Since it is an online service, you can easily monitor the progress of your miles earning.
Getting Started:
Here are the details for that:
- First, search for “Bask Bank Mileage Savings Account” on an Internet browser (https://www.baskbank.com/products/mileage-savings-account)
- Now, click on the link highlighted in the image below.
- After that, click on the “Open Account” button.
- Now, click on “Get Started”.
- Now, provide the details about the account that you want to open.
- In the next phase, the bank will ask you for your personal information. Provide it accordingly.
- Similarly, complete all the other sections in order to complete the account setup procedure.
Useful Tips:
There are some tips that can help you get the most out of this Bask Bank account. Here are their details:
- Set up an automatic transfer system. In this way, a certain amount of money will go to this account each time you get paid.
- Utilize different ways to maximize your miles earning. They include things like linking your American Airlines account to partner programs.
- Redeem your earned miles wisely. For example, you can pool all of your points and use them once properly i.e., on a summer vacation.
Ending Note
Bask Bank is proving itself to be a great platform for earning proper interest on a savings account. It does it with the help of its Mileage Savings Account. With this program, you can earn flying miles on your saved money. The more money you deposit, the more miles you earn. It is a partnered program with American Airlines.
Your earned miles are recorded properly in this account. Once you have earned enough, you can redeem them and take free flights. There are different reasons why this bank offers an easy way for that. We have discussed them comprehensively in the data shared above. Besides that, we have also discussed how you can get started with this account. Make sure to use the discussed tips in order to get the most out of this program.
Frequently Asked Questions (FAQs)
How many miles do I earn with one dollar on Bask Bank?
You get to earn 2.5 miles with each dollar you save.
Is there a minimum required balance for this program?
No. There’s no minimum amount limit for joining this program.
Are miles credited on a monthly basis in it?
Yes. The miles are usually credited every month.
