| 5 star: | (3) | |
| 4 star: | (4) | |
| 3 star: | (3) | |
| 2 star: | (3) | |
| 1 star: | (9) |
Opened account. Several issues but 3 you should be aware of:
(1) Per customer service, 90 day hold before you can be considered to have TAB allow you to initiate any ACH transaction from their bank. Can initiate from outside bank but extremely slow.
(2) No stated interest rate on statement. No stated interest rate when sign into account online. Per customer service, no way to see interest rate on either at this time. Makes it really hard to know what the current rate you are receiving in falling rate environment.
(3) Hassle opening account and wanted last bank statement of external account from which funds were to come from before open account . Very slow.
Bank is not set up to appropriately service online accounts and customer service not exactly helpful, needs more training,
I opened a high yield savings account on 10/24 and got an immediate email that basically asked if I was finished with my application. I was, but I hit the resume button nevertheless and went back to check it over. Never heard from them again. I called the customer service department the next day to check the status and the rep said he could see my application in the system but they are backlogged with so many new applications. Fast forward to today, one week later I have still heard nothing. Called the New Accounts number and was greeted with a voicemail that said my wait time was 1 minute....wrong! Waited and waited until it finally said "leave a voice message and we will get back with you." Guess what, I left a message and no one called me back. I called again and got the same "one minute" wait time. Again, no one answered. I called the customer service number and expressed my frustration and concerns and the nice young man asked if he could put me on hold and check. He couldn't even get in touch with the new accounts team (which he mentioned happened to consist of three people who were fairly new and they were all on the phone.) I told Mr. Nice Customer Service Guy that, I do not believe I am willing to entrust any kind of deposit with them and that in today's competitive banking market to try to get customers, TAB Bank is showing poor service. Shortly thereafter I got a confirmation email welcoming me to my new account. Nope, nyet, nein, and NO way am I going to deposit any money into that account. They have proven themselves untrustworthy and deficient in customer service skills.
I was attracted by the high Money Market Savings yields that were published in the WSJ.
I called their 800 number twice and navigated through the prompts. After a 10 minute or so delay listening to music and "we're busy" messages, a voice came on advising to leave name and phone number, which would be promptly returned. This was the only option it gave at this point.
I left two messages with name and phone number. Neither were returned. If this is the "service" they provide to prospective customers, I can only imagine how they treat existing ones.
Opened an account online and it takes all your information without giving any confirmation. The window just closes. Waited for an email from them 4 days, nothing! Called the bank multiple days now and it only goes to voicemail. "Please leave a message and someone will get back to you." This is no way to run a bank.
I do NOT find tab bank an customer service friendly bank or convenient. They have a difficult process unlike most online saving accounts. They do NOT provide ACH deposit when you open up an account. You have to send in a check which makes it take much longer and you have to wait a long time for it to be deposited. I would not recommended Tab Bank because it not a customer friendly convenient easy to work with bank. I would stay away.
Signed up for the Kasasa account and my account got frozen because I deposited money from my previous account into it (couple thousands) !! The representative told me the account will eventually be terminated, but the process will take up to couple months (great right?). Honestly, almost feel like this is a scam.
On top of this, their app needs huge improvement. Also do not expect response from them (through app) after a day or two...
I've been quite happy with Tab bank rewards checking. They do require transactions run as debits using PIN (not run as credit) and transactions >$5, but that's a small price to pay for $166/month (if you max out their $50k bonus balance). I've read others' reviews where they are saying only certain transactions qualify. If you are trying to game them by only doing tiny dollar amount transactions all on the same day at the same place you may run into trouble, but if you are using this in a typical way you should have no problems. I've called customer service a few times because I didn't understand that new accounts have a 7 day waiting period on deposited checks, and customer service has always been super friendly.
These guys are the absolute worst. You can only open an account with $500 and no more, no less. Once you open, you can only make deposits by check totaling no more than $3,000 for each check. It takes 2+ weeks to clear. Any money you do deposit, you cannot touch, move, or transfer for 90 days. If you want to close the account, they will send you a cashier's check (no wire or electronic transfers) and can take between 2 to 4 weeks. Absolutely ridiculous.
Easily opened my account a few days ago. Only then did I find out when I linked my external checking account that ACH transactions are limited to a maximum of $3,000 per transaction. Then I was notified that I will need to wait 90 days until my transfer account is allowed to transfer funds into TAB! Will be closing this account next week.
Opened an account online, was pretty straight forward process. Setup my direct deposits, Mobile app access, etc. After 1 week when I log in it says the account is closed. Called the customer care and they are unable to answer why the account was closed. they just indicated the bank has decided to close the account.
Not paying the 4% promised. And there are so many restrictions on the 15 transactions in a month, it is a pain even if they did hold up their end of the deal.
6 Month Update: I opened my account with TAB Bank in April 2019 and after a few early hic-ups with Remote Deposits to initially fund my account, everything has been great. Only one minor irritation is that I keep getting "Important" emails from TAB Bank advising me to use the Bill Pay feature and they make it sound like I don't know how to use it?? I know how to use it, and I have been using the Bill Pay feature every month. I am not sure why they insist I use it more when I don't have any other bills to pay?? It's not a requirement to use it, so why the constant nagging...Grrrrrrrrrr !
Initial Review: I opened my account in April 2019 and so far there have been no problems. My only concern is that I did a Remote Deposit (photo of my personal check) and it took 10 business days before the money was available even though the check cleared in 2 days? Of course, other banks have the same check deposit delays on new accounts for the first 30 days...but is that really necessary now with high-speed processing with the FDIC single check clearing house?
But then to add insult to injury they sent several "IMPORTANT" notices to use my Bill Pay account when none of my deposited money was available to use!
Now that I am over my 30 trial period we will see how fast future Remote Deposits are made available.
Opened a rewards account. There is no online way of checking to see if you've met monthly requirements. I messaged TAB online to verify. The rep response was that my 15 debits did not count because they were made with Square; they do not count those because they can't tell if it's the account holder doing the transactions. Not sure how they could ever verify that and disappointed they didn't make that clear in their requirements. 15 transactions with Square resulted in minimum interest. Plan to close account.
Had about five glitches to open and fund the account in the past month, no problem. Everything is fine now. I went from 2.25% checking rewards rate on $20,000 and savings rate of 1.00%, to TAB's 4.00% on $50,000, and savings rate of 2.40%. Thanks Ken Tumin for this webpage which has provided me with the best rates for savers for the past 20 years or so.
Great so far. Just opened this account. Was extremely easy to open. I got my debit card in like 7 business days. Easy to make 15 debits at $5 or more each, direct deposit and e statements to get the 4%. Only drawback is I had to link other accounts to transfer monies to them. You have to wait a year before you can initiate a transfer from this bank.
The 15 debits per month requirement of $5.00 wont be hard, You buy gas for your vehicle sooo do $5.00 transactions when you go to gas station, If you are buying $25.00 of gas just do increments( hey, there is 5 debit transactions taken care of)
The one ACH can be any denomination.
My questions is if I am in another state, how easy to get money from this Rewards Checking once I open and fund account?
Great rate--4.00% APY (3.93 % APR) up to $50 k (like buying a 50K CD @ 3.93 % APR)
Their 4% Kasasa checking seems like a fantastic deal until you read the fine print:
"**The following activities do not count toward earning account rewards: debit card purchases less than $5.00"
It's not exactly a dealbreaker, but it definitely diminishes my enthusiasm for the account.
Transportation Alliance Bank (TAB) is one of the best banks i have ever used. They specialize in offering service to the transportation industry. So, all over the country it was easy to do every kind of transaction online or over the phone. They offered services that other banks hadn't started using yet, like taking a picture of both sides of a check to deposit it.