TAB Bank Account Basics
TAB Bank High Yield Savings
TAB Bank offers a high-yield savings account with a competitive 4.52% APY on all balances. There is no minimum deposit required and there are no monthly fees associated with this account, making it a top choice for online savings accounts.
Checking
TAB Bank offers two different checking account options for customers.
TAB Spend account offers cash-back rewards on debit card purchases and a generous 3.50% APY on your balance—all with no minimum opening deposit requirement. With TAB Spend, you will earn 1% cash back on all debit card purchases and have access to an extensive network of fee-free ATMs. This combination of high yields and rewards from a checking account is very rare.
TAB Bank also offers a custom banking product aimed at professional drivers who are away from home for extended periods of time. The TAB Bank Chrome Checking Account allows you to accept payments such as Comdata checks, T-Chek and EFS. And this feature has an account that earns 0.10% APY and only requires a $25 minimum to open the account.
CDs
TAB Bank offers a wide variety of CD term lengths, ranging from 12 months to 60 months, and competitive yields. However, you’ll have to pay an early withdrawal penalty if you end your CD term before it expires.
The minimum deposit to open a CD with TAB Bank is $1,000.
Here are TAB Bank Certificates of Deposit rates:
| CD TERM | APY |
|---|---|
| 12 Months | 5.02% |
| 18 Months | 4.85% |
| 24 Months | 4.45% |
| 36 Months | 4.25% |
| 48 Months | 4.05% |
| 60 Months | 4.00% |
TAB Bank Money Market Account
TAB Bank also offers a money market account, though you’ll only receive a lackluster 0.25% APY. Also, certain types of transactions are limited to six per month. If you need the ability to transact more often than that, your money may be better served by a checking account.
The minimum deposit is $25, and there are no monthly fees.
Other TAB Bank Products
In addition to the products listed above, TAB Bank also offers:
- Business banking, including Treasury management, checking accounts, savings and money market accounts and CDs
- Business lending, including commercial real estate and asset-based lending
TAB Bank Mobile Banking
TAB Bank does not have any physical branch locations to visit, but it makes up for it with an excellent mobile app, an extensive ATM network, online banking and accessible customer service hours.
The iOS and Android apps are highly rated. If mobile banking is not your preference, online banking is available 24/7.
If you need to access cash, you can make free withdrawals at any of the MoneyPass network’s more than 40,000 ATMs.
TAB Bank customer service is open Monday through Friday, 6 a.m. to 7 p.m. MT, and Saturday, 9 a.m. to 3 p.m. MT, excluding federal holidays.
TAB Bank Fees
TAB Bank fees vary by account. Below, find a summary of common fees you’ll pay at TAB Bank.
TAB Spend
TAB Spend is a totally fee-free account—there are no fees to speak of.
TAB Bank High Yield Savings
| Outgoing wire fee | $30 |
| Cashier’s check fee | $15 |
| Stop payment fee | $25 |
TAB Bank Money Market Account
| Paper statement | $5 |
| Outgoing wire fee | $30 |
| Cashier’s check fee | $15 |
| Stop payment fee | $25 |
TAB Bank Certificates of Deposit
| Early withdrawal penalty | Terms of 12 months or less: 90 days’ interest on amount withdrawn |
TAB Bank Chrome Checking Account
| Monthly maintenance fee | $8, waived if you have a $1,000 minimum daily balance or make 8 debit card transactions per month (ATM withdrawals don’t count), or if you have $1,200 in direct deposits |
| Outgoing wire fee | $30 |
| Cashier’s check fee | $15 |
| ATM transaction | $2 |
| ATM balance inquiry | $1 |
| Foreign ATM transaction | $4 |
How TAB Bank Compares
See how TAB Bank stacks up against other online banks. Rates, fees and features below regarding TAB’s checking account refer to the TAB Spend account (not Chrome Checking).
TAB Bank vs. Ally Bank
| Account Features | TAB Bank | Ally Bank |
|---|---|---|
| Checking account | Free ATM access, cash-back rewards, 3.50% APY, no monthly maintenance fee, no minimum opening deposit | Free ATM access,Up to 0.25% APY, no monthly maintenance or overdraft fees, $10 monthly ATM reimbursement |
| Savings account | 4.52% APY, no monthly maintenance fee, no minimum opening deposit | 4.00% APY, no monthly maintenance fee, no minimum opening deposit |
| CD | Rates up to 5.02% APY, $1,000 minimum opening deposit | Rates up to 4.20% APY on traditional CDs, no minimum opening deposit |
| Money market account | 0.25% APY, $25 minimum opening deposit | 4.00% APY, $0 minimum opening deposit, $10 monthly ATM reimbursement |
TAB’s checking account bests Ally’s if you’re interested in rewards or yields. In fact, the combination of cash back for eligible purchases and a (relatively) sky-high interest rate makes the TAB Spend account unique. Ally Bank, though, offers a better deal on ATM fees and sometimes offers bank account bonuses for new customers.
Likewise, TAB’s savings account and CDs yield more than Ally’s, making it a better option for savers. Those interested in a money market account, though, should opt for Ally.
TAB Bank vs. BrioDirect
| Account Features | TAB Bank | BrioDirect |
|---|---|---|
| Checking account | Free ATM access, cash-back rewards, 3.50% APY, no monthly maintenance fee, no minimum opening deposit | N/A |
| Savings account | 3.50% APY, no monthly maintenance fee, no minimum opening deposit | 5.15% APY, no monthly maintenance fee |
| CD | Rates up to 5.02% APY, $1,000 minimum opening deposit | Rates up to 5.00% APY, $500 minimum opening deposit |
| Money market account | 0.25% APY, $25 minimum opening deposit | N/A |
BrioDirect is an online branch of Webster Bank. Currently, BrioDirect offers a high-yield savings account and high-yield CDs. The BrioDirect High Yield Savings Account offers a competitive 5.15% APY, beating TAB in this department.
BrioDirect also offers more CD terms, ranging from 30 days to 60 months. BrioDirect High-Rate Certificates of Deposit are more accessible too—they require a minimum deposit of $500, half of what TAB requires. But TAB’s CD rates, for the most part, surpass BrioDirect’s.
BrioDirect also offers higher yields on its savings account. But if you’re looking for a wider range of banking products and services, TAB Bank has more to offer.
Methodology
Forbes Advisor rates banks based on various factors, including their fees, interest rates and ATM networks, among other characteristics. We assign separate ratings to financial institutions and their individual products, such as checking accounts, savings accounts and certificates of deposit (CDs). We rate banks based on a scale of one to five stars, with one star as the poorest rating and five stars as the best.
Check out our guide on How Forbes Advisor Reviews Banks to learn more about our rating and review methodology and editorial process.
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Frequently Asked Questions (FAQs)
Is TAB Bank FDIC insured?
Yes, TAB Bank is FDIC insured (FDIC# 34781). The federal government protects your funds up to $250,000 per depositor, for each account ownership category, in the case of bank failure.
Is TAB Bank a real bank?
Yes, TAB Bank is a real bank. However, it is an online bank, so it does not have any physical branches or ATMs.
What does TAB Bank offer?
TAB Bank offers a wide array of products and services. For the everyday consumer, offerings include checking, savings, money market and CD accounts. For businesses, they offer a full range of business banking products and lending services.