TAB Bank
TAB Bank Review: Checking, Savings and CDs
TAB Bank offers a debit card and competitive savings accounts with no monthly fees.
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The bottom line:
TAB Bank has its roots in the trucking industry, but anyone can apply for its rewards checking and competitive savings accounts. There are no monthly fees on its basic accounts.
Best for: Customers who are looking for high-yield savings options or cash back checking rewards, or both, and who don’t mind an account that doesn’t allow overdrafts.
- No monthly fees.
- Competitive rates.
- No branch access.
- No overdraft program.
Full review
TAB Bank
Savings
TAB Save
APY
4.26%
With $0.01 min. balance for APY
Bonus
N/A
TAB Bank’s high-yield online savings account earns a competitive interest rate. There is no minimum required to open the account and no monthly fees.
Checking
TAB Spend
Monthly fee
$0
APY
3.50%
With $0.01 min.
balance for APY
Bonus
N/A
TAB Bank offers a rewards checking account with no monthly fees or minimum opening requirements.
In addition to earning a strong APY, the account offers 1% cash back on debit card purchases. Speaking of cash, TAB Spend comes with access to the MoneyPass ATM network, which has about 40,000 surcharge free ATMs nationwide.
Certificates of deposit
TAB Bank CD
1-year APY
4.21%
3-year APY
3.91%
5-year APY
3.81%
Minimum deposit
$1,000
TAB Bank offers CDs for term lengths ranging from one to five years. Its rates are competitive compared with other financial institutions. You’ll need at least $1,000 to open a CD. Other banks have lower minimums.
18-month CD: 4.16% APY.
2-year CD: 4.06% APY.
3-year CD: 3.91% APY.
4-year CD: 3.86% APY.
5-year CD: 3.81% APY.
1-year CD: 4.21% APY.
Customer experience
TAB Bank’s accounts are online, so customers don’t have neighborhood branches to visit. The bank offers highly rated mobile apps to let customers pay bills, transfer funds and make mobile deposits.
Customer service representatives are available from 6 a.m. to 7 p.m. Mountain Time on weekdays and from 9 a.m. to 3 p.m. Mountain Time on Saturdays. To compare, some online banks offer 24/7 customer service.
Overdraft fees
If a customer makes a transaction that would overdraw the account, the transaction will be declined. Not having overdrafts can save customers money in the long run, which is important (there are no overdraft fees with this debit card). However, it can be inconvenient if the transaction is declined at the time of purchase. Other banks let customers link a savings account that automatically transfers money if the main account is overdrawn. Some also have overdraft programs where they approve the transaction but then charge a fee.
How does TAB Bank compare?
APY
3.80%
With $0 min. balance for APY
Bonus
$300
Earn up to $300 with direct deposit. Terms apply.
Margarette Burnette
Margarette Burnette is a NerdWallet authority on savings. Her work has been featured
in USA Today and The Associated Press.