Digital bank replaces interest rates with reward points

Texas Capital Bank launches all-digital Bask Bank, offering savers American Airlines AAdvantage miles — Texas Capital Bank — “Traditional savings accounts return pennies on the dollar. Bask Bank changes that by rewarding savers with miles, enhancing their saving potential and providing them with choice, value, and the opportunity to experience travel and more through the AAdvantage program. Bask Bank will also offer several ways to earn AAdvantage bonus miles, including an account opening bonus of 5,000 AAdvantage miles, a feedback bonus and a variety of balance bonuses.”