TAB Bank Review: Checking, Savings and CDs
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Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.
Overview
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.
No monthly fees.
Competitive rates.
No branch access.
No overdraft program.
Product reviews
Savings
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.
» Want to see other top savings rates? Check out our list of the best high-interest online savings accounts
TAB Save
Checking
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.
» See more options: Best online checking accounts
TAB Spend
Certificates of deposit
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.
» COMPARE See our list of best CD rates
Full List of CD Rates
| Term | APY | Min Deposit |
|---|---|---|
| 1 year | 4.00% | $1,000 |
| 1.5 years | 4.05% | $1,000 |
| 2 years | 4.10% | $1,000 |
| 3 years | 4.15% | $1,000 |
| 4 years | 4.15% | $1,000 |
| 5 years | 4.20% | $1,000 |
TAB Bank CD
Customer experience & overdraft fees
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.
Rating methodology
How we rate banks and credit unions
Banking writers and editors use an objective methodology to rate banks, credit unions, and other providers, and to recommend the best products.
100+
Financial institutions reviewed
100+
Financial institutions reviewed
We took a close look at around 100 financial institutions and financial service providers, including the largest U.S. banks based on assets, internet search traffic and other factors; the nation’s largest credit unions, based on assets and membership; and other notable players in the industry. We rated them on criteria including annual percentage yields, minimum balances, fees, digital experience and more.
30+
Categories assessed
30+
Categories assessed
Each provider is evaluated across five weighted categories and 30 subcategories, including checking and savings accounts, certificates of deposit, customer experience, and overdraft services. For banks or credit unions without one or more types of accounts, the overall rating is modified to include only applicable categories. Institutions are not penalized if they don't offer every type of account.
60+
Data points analyzed
60+
Data points analyzed
We considered more than 60 data points for each provider. Depending on the category, these included account fees and rates (such as annual percentage yields), ATM and branch access, account features, account bonuses, customer service access and user-facing technology, such as innovative tools and mobile apps. We gathered this information for each financial institution from its website, a media representative or both.
Star rating categories
The review team is made up of seasoned writers and editors who cover personal banking deposit accounts, such as checking, savings and certificates of deposit, as well as related banking services, such as overdraft programs and ATM networks. For providers without one or more types of accounts, the overall rating is modified to include only applicable categories. Institutions are not penalized if they don't offer every type of account.
Financial institutions and providers surveyed are: Affirm, All America Bank, Alliant Credit Union, Ally Bank, Alto, Amalgamated Bank, American Express National Bank, Andrews Federal Credit Union, Associated Bank, Axos Bank, Bank of America, Bank5 Connect, Barclays, Bask Bank, BMO, Boeing Employees Credit Union, Bread Savings®, BrioDirect, Capital One, Cash App, CFG Bank, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens Access, Citizens Bank, Climate First Bank, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Current, Customers Bank, Discover® Bank, E*TRADE, EverBank, Fifth Third Bank, First Foundation, First Internet Bank, First Tech Federal Credit Union, FNBO Direct, Forbright Bank, FourLeaf Federal Credit Union, GO2bank, Golden 1 Credit Union, Hope Credit Union, HSBC Bank, Huntington Bank, Ivy Bank, KeyBank, Lake Michigan Credit Union, LendingClub Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, My Banking Direct, NASA Federal Credit Union, Navy Federal Credit Union, NBKC, Newtek Bank, OMB Bank, OnePay, Openbank, PayPal, Peak Bank, Pentagon Federal Credit Union, PNC, Poppy Bank, Popular Direct, Quontic Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Securityplus Federal Credit Union, Self-Help Credit Union, Service Credit Union, SoFi, State Employees’ Credit Union of North Carolina, Synchrony Bank, TAB Bank, TD Bank, Truist Bank, U.S. Bank, UFB Direct, Upgrade, USAA Bank, Valley Bank, Varo, Venmo, Vio Bank, Wells Fargo, Western Alliance Bank, Zolve and Zynlo Bank.
NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for banks and credit unions and our editorial guidelines.