CD Bank

Deposits held and insured by TBK Bank

Friendly Customer Service And Best Rate Ever!

We were looking for a 2 yr CD as we had a 5 yr cd that matured. It took a week to get that 5 yr CD in the mail - from another bank. We are not bothered by CD bank mailing checks -and were thrilled to see this 3.2% rate. The early withdrawal penalty is not a problem A couple of days after filling out application on line - I called and talked to Jakayla a very friendly services rep - to see what else I would need to do - as online instructions said I would get an email - didn't get an email -so wanted to be sure application had gone thru. We live in the middle of the ocean so don't have the most reliable internet. Jakayla explained the paper work I needed to mail in with signatures - which we did.
I waited 4 days after mailing - our mail service has its issue as well -on Thursday - luckily talked to Jakayla again - she checked and paperwork not in yet- but it arrived next day. By Monday we had our account set up- and even though the ACH funds were not withdrawn from our bank until Tuesday we still got the 3.2% - ( this was May 21) rates had dropped on Monday!
We are so glad we chose CD bank and will do so in the future.

Competitive 1-2 Year Rates, Systems & Customer Service Lacking

Posted by: |

Customer service is lacking apparently because of many new customers. No ACH out and no plans to later allow it. $10 wire fee out. No checking account to go with it. Additional accounts require duplicate sign ups & snail mailing paperwork.

They responded to my first email and my first phone call but after that, they did not always answer the phone did not respond to emails and even when they did answer they did not know what was going on.

They did not know they got my paperwork & check on a timely basis but when they finally admitted it I found it was dated when it should have been. (I sent it on a monday, they posted it on friday but I did not know until the following thursday and that took multiple calls to find out)

I am not sure if they backdated it to compensate for their issues or what. Dallas is where you send the paperwork & checks. The ladies who answer the phone are at a different location. Multiple calls inquiring about the status of my paperwork got me nowhere. I even got cut off a few times and they did not call me back. The last time they did call me back and finally confirmed they had gotten my paperwork. And gave me my account number and said I could sign into online banking the next day.

If they did not have a top rate, my review would have been far less charitable.

The 2 year CD has a high EWP but I cannot imagine needing or wanting to close it early so I did not let that stop me.

My hope is they will work thru their customer service issues and in 2 years have top rates again.
Or at least wave the wire transfer out fee.

I sent checks because their system had no way to allow X from one place and Y from another place without opening multiple CDs and duplicate snail mail paperwork. Even your basic information has to be reentered for each new CD I'm told.

Great Rate: Considerations ....

Posted by: |

Best 12 month CD rate to my knowledge (as of 5/6/19). Consider: while you may electronically transfer money in you cannot electronically transfer out. Instead they send a check if you ask for it. When I spoke with a representative he said this could change in the future." Hopefully it does. Another consideration is that the current rates posted on the site are said to be valid "as of 4/23" - nine business days ago.

Worst Experience Ever

It took 12 days to open an online CD and another 14 days to get confirmation that the account had actually been opened. I could not reach customer service for a week, just got a recording telling me to leave a number. No messages were ever returned. I lost $175 in interest waiting for my CD to be opened. Not worth the few basis point of extra interest. No telling how long it will take to get my money back when the CD matures.



Data as of Q1 2021

Data displayed below is for insuring bank: TBK Bank
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Health Grade Components

FDIC Certificate #23498
Year Established1981
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD2.4%
Return on Equity - YTD17.7%
Annual Interest Income$88.4MM
Assets and Liabilities
AssetsQ1 2021vs Q1 2020$6.08B$5.33B
LoansQ1 2021vs Q1 2020$5.06B$4.38B
DepositsQ1 2021vs Q1 2020$4.83B$3.69B
Equity CapitalQ1 2021vs Q1 2020$833.7MM$688.7MM
Loan Loss AllowanceQ1 2021vs Q1 2020$48.0MM$44.7MM
Unbacked Noncurrent LoansQ1 2021vs Q1 2020$67.1MM$51.7MM
Real Estate OwnedQ1 2021vs Q1 2020$1.4MM$2.5MM
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CD Bank CD Rates

0.50%$100k-60 Month CD
0.45%$100k-48 Month CD
0.40%$100k-24 Month CD
0.40%$100k-36 Month CD
0.35%$100k-18 Month CD
0.35%$100k-12 Month CD
0.25%$100k-6 Month CD
0.25%$100k-9 Month CD
0.20%$100k-3 Month CD

CD Bank is an Internet only bank and does not have branch locations. Its headquarters is located at 12700 Park Central Drive - Dallas, TX 75251

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