DALLAS, June 30, 2023 (GLOBE NEWSWIRE) -- Bask Bank, the digital banking division of Texas Capital Bank, has been named by U.S. News & World Report (U.S. News) as the #1 Best Bank for Savings Accounts in its first-ever Banking, Investing Platforms and Lender Awards. Bask Bank was selected as the savings account winner among the 40 largest U.S. consumer banks.
Best Banking is a new project from U.S. News that uses “data journalism.” U.S. News selects a wide variety of financial institutions to survey, rate and review. Per U.S. News, the list includes the largest 40 consumer banks in the country based on asset size, as well as additional banks and credit unions based on internet search volume and their relevance in the broader financial industry. U.S. News’ criteria for selecting the Best Savings Account includes Annual Percentage Yield, customer complaints, minimum balance required to earn interest, minimum initial deposit requirement, monthly fee and transaction limitations. Bask Bank’s Interest Savings Account performed well in all scoring categories – account holders currently enjoy a high Annual Percentage Yield at 4.85%* with no balance requirements, no minimum deposit requirements and no monthly account fees.
“Being named the best savings account bank in the U.S. News’ inaugural banking awards is an honor for Bask Bank as well as the Texas Capital Bancshares franchise,” said Texas Capital Bank President and CEO Rob Holmes. “This is a recognition of significant investment and accomplishment transforming our digital client experiences into the best available. Bask Bank for consumers, coupled with our new commercial onboarding platform for our wholesale corporate clients, Initio, establishes Texas Capital Bank as a leader in the digital banking space.”
“We established Bask Bank in 2020 to meet the evolving needs and behaviors of consumers and are pleased to be recognized as a leader in this space,” said Chia Hsun Chang, head of Digital Banking at Texas Capital Bank. “The team has continued to lean into our customers’ feedback to expand products and capabilities, delivering incremental value and improving the overall digital experience.”
About Bask Bank
Bask Bank is a digital bank that rewards savers with both interest and American Airlines AAdvantage® miles. Along with its parent company, Texas Capital Bancshares, Bask Bank is committed to building strategic relationships and providing service that exceeds expectations. Bask Bank is a division of Texas Capital Bank, an established FDIC-insured bank headquartered in Dallas. For more information, please visit www.baskbank.com.
*Annual Percentage Yield as of June 27, 2023. APY is variable and subject to change at any time. No monthly account fees or minimum deposit required. Must fund within 15 business days of account opening. Deposit products offered by Texas Capital Bank, Member FDIC.
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