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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Senior Writer
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Assigning Editor
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TAB Bank
  • Savings
  • Checking
  • Certificates of deposit
  • Customer experience
  • Overdraft fees

Overall institution rating

4.5

NerdWallet rating 
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.

Pros

  • No monthly fees.
  • Competitive rate on CDs and some savings accounts.

Cons

  • Hard to find basic information about accounts.
  • No branch access.
  • No overdraft program.

Full review

Savings

TAB Bank High-Yield Savings Account
TAB Bank High-Yield Savings Account

Savings

Member FDIC

4.5

/5
 NerdWallet rating 
APY
5.27%
With $0 min. balance for APY
Bonus
N/A

The TAB Bank high-yield online savings account earns a competitive interest rate. There is no account balance cap for annual percentage yield earnings. There's also 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

Checking

TAB Bank Kasasa Cash Back® Checking
TAB Bank Kasasa Cash Back® Checking

Checking

Member FDIC

4.5

/5
 NerdWallet rating 
Monthly fee
$0
Bonus
N/A

TAB Bank offers a rewards checking account with no monthly fees or minimum opening requirements. If you open this account, your money is kept with TAB Bank, but note that the account’s perks and requirements are not unique. Kasasa Cash Back Checking is designed by a third-party firm called Kasasa, which works with community banks and credit unions to provide rewards checking options.

You can earn 1% cash back on debit card purchases and, since the bank doesn’t have free access to an ATM network, you can qualify to get up to $15 in out-of-network ATM fees reimbursed monthly. The cash back and ATM refunds have three requirements. You must: opt in to e-statements, make at least 15 debit card purchases each month and make at least one monthly transaction such as a direct deposit, bill pay or ACH payment. If you don’t fulfill those requirements in a given month, you lose out on cash back and ATM refunds for that month.

» See more options: Best online checking accounts

Certificates of deposit

TAB Bank CD
TAB Bank CD

CD

Member FDIC

5.0

/5
 NerdWallet rating 
1-year APY
5.15%
3-year APY
4.25%
5-year APY
4.00%
Minimum deposit
$1,000

TAB Bank offers CDs for term lengths ranging from six months 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

  • 6-month CD: 0.00% APY.

  • 9-month CD: 0.00% APY.

  • 1-year CD: 5.15% APY.

  • 18-month CD: 4.90% APY.

  • 2-year CD: 4.70% APY.

  • 3-year CD: 4.25% APY.

  • 4-year CD: 4.05% APY.

  • 5-year CD: 4.00% APY.

Customer experience

4.0

NerdWallet rating 

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

3.5

NerdWallet rating 

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?

NerdWallet rating 

4.5

/5
NerdWallet rating 

4.5

/5

APY 

4.60%

With $0 min. balance for APY

APY 

5.00%

With $5,000 min. balance for APY

Bonus 

$300

Earn up to $300 with direct deposit. Terms apply.

Bonus 

N/A

Learn more

at SoFi Bank, N.A.

Learn more

at CIT Bank

Methodology

NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, banking experience and overdraft fees. Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing technology, customer service and innovation. The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.