I have not heard of Bask before.
FDIC insured?
What does Bask invest your money in that pays 4.75%, pays the Bask bills, and makes a Bask profit?
Look for them online: baseband
That should answer your questions.
Link to Bask bank on Deposit Accounts website for more info. :)
https://www.depositaccounts.com/banks/bask-bank.html
Be very wary of those online banks. Yes, FDIC insured, but expect to be driven to wits end by poor customer service (India), or essentially no customer service when they put your account in “difficult customer” status. Horror stories abound of locked funds, funds “lost” in transit that take months to recover, accounts that in actuality pay less than the advertised rate (they “accidentally” out your deposit in wrong account type), and so on. Read customer comments before moving and funds in!
Not just Bask, they’re all bad.
https://www.depositaccounts.com/banks/reviews/bask-bank.html