Apr 8, 2021, 10:27 am
Last edit by: funnyfarm299
Miles usually post on Bask website on the second business day of the month, to AA a day or 2 later.
Check the "Rewards" section of your Bask dashboard or the Recent Activity section of your AA account.
Current earn rate as of June 2023: 2.5 miles/dollar/year, awarded monthly (no LP's).
Check the "Rewards" section of your Bask dashboard or the Recent Activity section of your AA account.
Current earn rate as of June 2023: 2.5 miles/dollar/year, awarded monthly (no LP's).
Questions on BankDirect, now Bask Bank (consolidated)
May 14, 2010, 10:58 am
#61
Join Date: Aug 2003
Posts: 324
Assuming you are thinking of opening a Mileage Checking account, BankDirect doesn't have any hidden fees or charges other than what's listed here, ($15 monthly fee and no interest paid, for balances less than $2500.)
I have wired lots of money into my BD accounts at no charge.
If you're interested in a referral, I'm available for a PM.
I have wired lots of money into my BD accounts at no charge.
If you're interested in a referral, I'm available for a PM.
May 15, 2010, 7:29 am
#62
Join Date: Feb 2009
Location: Redwood City, CA (i.e. SFO/SJC/OAK)
Programs: AAdvantage 1MM+ GOLD, SkyMiles
Posts: 143
I'm considering signing up. What about fees. Do they charge a fee if you don't carry a certain $ balance? Or other hidden fees? The reason I ask is I asked about transfers and this was the answer they gave me.
"BankDirect is a receiver. We would be able receive a wire from an institution and you would be able to wire out. There is a fee($15) for outgoing wires. You can mail in your deposits, we do have prepaid postage envelopes available that we can provide. Please contact us at 1-877-839-2737 if you need further assistance."
"BankDirect is a receiver. We would be able receive a wire from an institution and you would be able to wire out. There is a fee($15) for outgoing wires. You can mail in your deposits, we do have prepaid postage envelopes available that we can provide. Please contact us at 1-877-839-2737 if you need further assistance."
Please PM me if you need a referral.
May 17, 2010, 12:47 pm
#63
Join Date: Apr 2010
Location: sjc sfo
Programs: A little bit of miles and points scattered everywhere
Posts: 360
so i went ahead and signed up. im going to be mailing a check in as my bank (wells fargo) charges $3 for bank to bank transfers. The very odd part is that in the instructions it says to make the check payable to BankDirect??? Huh?
May 17, 2010, 12:51 pm
#64
FlyerTalk Evangelist
Join Date: Jul 2006
Location: Upper Sternistan
Posts: 10,037
Yeah, they say that, as do many other banks. But I always just write the check out to myself and endorse the back with "For Deposit Only" and I haven't had a problem.
May 17, 2010, 12:56 pm
#65
Join Date: Apr 2010
Location: sjc sfo
Programs: A little bit of miles and points scattered everywhere
Posts: 360
Jun 16, 2010, 4:39 pm
#66
Join Date: Apr 2010
Location: sjc sfo
Programs: A little bit of miles and points scattered everywhere
Posts: 360
i see that bankdirect reimburses 4 atm fees of $2.50 per month, which is very nice. does anyone know the fee in CA that the large banks usually charge for using their ATM's...Wells Fargo, Chase, BofA, Citibank?
Jun 26, 2010, 12:18 pm
#67
Join Date: Nov 2000
Location: New York City, United States.
Posts: 2,625
It all depends on how much a mile is worth to you, and your marginal tax bracket.
Assuming a 33% tax bracket, and an alternative account that could pay you 2.25%, you'd have to value a mile at 1.85¢ or higher for the BankDirect account to be the better investment.
Remember that the miles earned represent a tax-free return.
Some formulae worked out to analyze these accounts were previously discussed in this thread.
Assuming a 33% tax bracket, and an alternative account that could pay you 2.25%, you'd have to value a mile at 1.85¢ or higher for the BankDirect account to be the better investment.
Remember that the miles earned represent a tax-free return.
Some formulae worked out to analyze these accounts were previously discussed in this thread.
"Remember that the miles earned represent a tax-free return."
Do you get a 1099 MISC fro the miles?
If so especially at AA's artifically high valuation then it negates the miles.
I heard about a sweepstakes winner getting oe million miles and it would come with a $25,000 1099 MISC
He decided to decline the "prize"
Jun 26, 2010, 5:48 pm
#68
Join Date: Jan 2009
Location: WAS
Programs: AA EXP2M, DL 1MM DM ext, UA PP <=> HH G/Marr PE/Hyatt G/IHG P FT RA ( Recovering Addict)
Posts: 4,596
I would get 1cpm value in after tax cost. would get 4 VIPs easily worth 1000$. If not MM already, I would get exit rows for life. I would have enough for 6 OW150 awards and 1 FC r/t to EU. or 7 r/t trips to Asia from US 135 miles each, or 5 F awards to Asia or A/NZ. That would be enough to take me everywhere I need to go for a while. All this for 10k in Cash? sign me up!
Jun 26, 2010, 10:06 pm
#69
Original Member
Join Date: May 1998
Posts: 1,934
After sending in the initial balance to fund the account which is subject to a 9 day hold...what other ways can you fund this account? (mail deposits by check?, ACH, wire?) Is it also subject to 9 day holds?
Which banks will allow you to do ACH transfers (small to big) amounts as most banks only allow 2K per day?
I'm interested in the names of which banks you use to fund and move money into and out of BD?
Thanks.
Which banks will allow you to do ACH transfers (small to big) amounts as most banks only allow 2K per day?
I'm interested in the names of which banks you use to fund and move money into and out of BD?
Thanks.
Jun 26, 2010, 11:11 pm
#70
FlyerTalk Evangelist
Join Date: Jul 2006
Location: Upper Sternistan
Posts: 10,037
After sending in the initial balance to fund the account which is subject to a 9 day hold...what other ways can you fund this account? (mail deposits by check?, ACH, wire?) Is it also subject to 9 day holds?
Which banks will allow you to do ACH transfers (small to big) amounts as most banks only allow 2K per day?
I'm interested in the names of which banks you use to fund and move money into and out of BD?
Thanks.
Which banks will allow you to do ACH transfers (small to big) amounts as most banks only allow 2K per day?
I'm interested in the names of which banks you use to fund and move money into and out of BD?
Thanks.
Sep 3, 2010, 8:16 am
#72
Join Date: Feb 2009
Location: LA/NYC
Programs: AA (LT Plat, ex-ConciergeKey), SPG (Plat), DL (Diamond), Marquis Jet Card
Posts: 77
BankDirect just posted 4x the miles they should have to my AA account this month. Anybody else notice this?
I was expecting 100k and got almost 400k. Woohoo, until they fix it.
I was expecting 100k and got almost 400k. Woohoo, until they fix it.
Sep 3, 2010, 8:27 am
#73
Join Date: Nov 2008
Programs: AA EXP 3MM
Posts: 1,773
Hopefully the extra is enough to push you over 2MM for LT PLT. If BD subsequently take back the 300k, I would guess LT PLT would not be revoked!
Sep 3, 2010, 8:29 am
#74
FlyerTalk Evangelist
Join Date: Jul 2006
Location: Upper Sternistan
Posts: 10,037
Sep 3, 2010, 9:19 am
#75
Join Date: Apr 2010
Programs: FB Platinum, AA Plat/2MM, SPG Plat/LT Gold
Posts: 379
Wrong thread, but congrats on crossing 1MM, josephstern!