TAB Bank Review: Checking, Savings and CDs
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Overall institution rating
4.7
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
Full review
TAB Bank
Savings
TAB Save
5.0
/55.0
/5APY
4.15%
With $0.01 min. balance for APY
Bonus
N/A
APY
4.15%
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.
» Want to see other top savings rates? Check out our list of the best high-interest online savings accounts
Checking
TAB Spend
5.0
/55.0
/5Monthly fee
$0
APY
3.50%
With $0.01 min. balance for APY
Monthly fee
$0
APY
3.50%
With $0.01 min. balance for APY
Bonus
N/A
Show details
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
Certificates of deposit
TAB Bank CD
5.0
/55.0
/51-year APY
4.10%
3-year APY
3.80%
1-year APY
4.10%
3-year APY
3.80%
5-year APY
3.75%
Minimum deposit
$1,000
Show details
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
See list of TAB Bank CD rates
1-year CD: 4.10% APY.
18-month CD: 4.05% APY.
2-year CD: 4.00% APY.
3-year CD: 3.80% APY.
4-year CD: 3.75% APY.
5-year CD: 3.75% 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.
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). The ratings are incremented in tenths of a star.