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Bask Bank is giving American Airlines users an alternative way to earn miles. Instead of having to spend money to earn rewards, you can earn miles by stashing money in a Bask Bank Savings account. There are no fees or minimum deposit requirements, but there’s only one way to withdraw funds.
N/A
APY
$0
Fee
$0
Minimum deposit to open
Review by
Cassidy Horton is a writer for Finder, specializing in banking and investments. She has a Bachelor of Science in Public Relations and a Master of Business Administration from Georgia Southern University. Cassidy enjoys educating people about financial services, exploring the Pacific Northwest and watching endless reruns of The Office.
There’s no cap on the number of miles you can earn, so you can watch them build up and rollover into your AAdvantage account each month. The account has no fees or minimum balance requirements, so you’re free to use your funds as you wish.
But it doesn’t earn interest, which is typically a standard feature found among all savings accounts. Unless you regularly fly with American Airlines, you may earn more with a high-yield savings account that rewards you with cash.
Follow these steps to open your Bask Bank account online:
Anyone can open a Bask Bank Savings account when they meet these requirements:
You’ll need this information to complete your application:
You earn one AAdvantage mile for every $1 you deposit into your Bask Bank account. If you deposit $10,000 into your account, you’ll have 10,000 miles at the end of the year.
Advantage miles are calculated daily and deposited into your linked AAdvantage account monthly.
The number of miles you earn will vary based on your account balance and the number of days in the month. Use this math equation to calculate your miles:
(Account balance / 365) * days in the month
If you have $10,000 in your account in January, you’d earn 850 miles because there are 31 days in the month ($10,000 / 365 * 31).
If you had $10,000 in February, you’d earn 767 miles because there are only 28 days in the month ($10,000 / 365 * 28).
If your balance stays at $10,000 for the entire year, you’ll have accumulated 10,000 miles in 12 months.
As with most savings accounts, this one doesn’t come with an ATM card and you’ll risk having your account closed if you make more than six outgoing transactions a month. It also has these drawbacks:
If you’re not interested in earning American Airline miles, compare your options to find a savings account that’s right for you.
Use this interactive table to see how Bask Bank Savings compares to other accounts. Sort the table by APY or minimum deposit to open to find the right account for you.
When you set up your Bask Bank account, you’ll be asked to enter your AAdvantage number. Once it’s linked, miles will automatically deposit into your AAdvantage account each month.
Here are all the ways you can deposit and withdraw money with Bask Bank: