The website has many functional problems on Apple's Safari browser. They recently replaced a well-functioning person-to-person payment service, PeoplePay, with buggy hard-to-use Zelle, which some people I pay refuse to use (I don't blame them!) Customer service is a mess. They say they will get back to you on problems and then never do. Website help is confusing because they seem to have more than one website. They recently replaced the App, but I only discovered that when stuff stopped working — no info on the change was ever sent to me and they don't know why. (I check spam everyday.) I'm starting the long slog to move my accounts elsewhere.
I have been a customer of Everbank / TIAA for a long time. I have done in the past business with several Banks but not equaled the quality of services and depth of products available to its customers as TIAA.
Without exception, I received the best service and enjoyed consistently the highest return on my basic investment in my Checking, Savings, Money Market and CD account.
Any administrative change takes time to mature and overcome transitional difficulties.
Overall Everbank and TIAA have done a great job to accomplish this task, normalize operations and, as such, ought to be congratulated for a job well done! Indeed I am a very satisfy TIAA customer!
I have multiple accounts with this bank. Following their purchase of EverBank, service was good. Lately, it has sunk to very poor. I called yesterday and the recording advised a 30+ minute wait. I called today and its a 45 minute wait. I sent an internal email yesterday AM and as of over a day later, no response. Time to move my money.
Though Oct. 2018 TIAA interest rate at 2.68%, I requested a Roth IRA balance be transferred to our TIAA Money Market Account. They failed to transfer the money and renewed the CD against my instruction. Though the 1-Year New CD was posted at 2.68% they gave us .07% rate lower. The same occurred the previous year. Therefore I cannot trust them and will not put more money into other CDs at this institution.
Been with TIAA Direct for years, their rates remain uncompetitive. Further their "savings" account earns less than their money market account and like many companies require you to open a new account just to be brought up to the non-competitive higher rate. No thanks TIAA. I'm out.
I was an Everbank client for 8 years prior to its takeover by TIAA CREF. It has a responsive and very capable online interface. It was exclusively an online bank. In May or June 2018, TIAA CREF bought Everbank. From there it has been straight downhill. The interface is now wrapped by TIAA CREF's cumbersome, clunky and painfully slow interface. Simple processes no long work. For example, adding an external bank in order to do ACH transfers is now broken. I am going to close my acccount here and the search is on for a better online bank. It will take time since so much data entry is needed but how long can one put up with incompetence in a bank?
tl;dr may not be worth it to start a relationship but if you're already in, it's not imperative to get out
I got swept into TIAA bank when they bought Everbank. Rates and the good-enough software remained the same. They're not a rate leader but they're usually in the top 10.
The leading driver of my average score is that I know there is better online banking software out there so I know how much CD management, account opening, and customer service CAN be improved. They simply haven't kept up but I already have a relationship so opening an additional CD isn't terrible.
One thing that is really awful and I cannot fathom is their "security code" when you're in the process of opening an account. You need this to continue or complete an application. The site wasn't working properly and I couldn't view mine. The only way to get around it is to call them. I should just be able to do this when I'm logged in. Why is additional security necessary when I
a) already have a banking relationship and online access
b) am moving money INTO the account
Tiaa offers a 10.00 overdraft but they freeze any check or money order deposit for 15 days if you use this service they can't afford to pay for you I spent 4 hours on phone after finding they held a paid item 10 extra days because I used 9.00 dollars overdraft during the Harvey hurricane
Trying to get funds released from TIAA. We are 4 weeks into calling with each week's response being "no one has requested these funds to be released". Even called the same week and they stated it is scheduled to be delivered and is in queue and should mail 3-5 days after request. We call in when they say it was going to be received and then they say..."no one has requested it to be released." 4 weeks of this and requests to be called by Supervisor have not been returned. I believe the CSR's are not that stupid or incompetent and this is a business practice to keep funds they are not entitled to keep. I filed with BBB and will be filing with Attorney General's office as well. I plan to use Facebook and since I am an executive, I plan to use Linkdn and the groups I am associated with let everyone know of these questionable business practices.
TIAA Direct has been great to deal with in nearly every facet. Recently, I began doing some research for a new banking institution. I needed a separate account for my business line. The options at my local big banks were just not cutting it for me. At TIAA, they were able to set me up with a checking account system that would automatically draw funds out as needed and pay certain expenses when available. This service allows me to have one less hassle to worry about. I can rest easy knowing my expenses will be covered and I will never have to deal with any fees. This entire process was free and done with limited hassle. While there, I checking into rates on some of their deposit accounts. This is my only complaint about them. Their rates are slightly below average that I was able to find elsewhere.
I wrote the complimentary review at the bottom a few years back, but have to update it. Over the last few months (Spring 2019) TIAA's back office operations have spun downwards. A scheduled external transfer was not executed. Customer Service saw the snafu, but could not explain the reason. Linked external accounts can't be deleted without submitting a request. This step would be fine except on two occasions the requests weren't carried out.
"While disappointed with the interest rate drops, I'm satisfied with the customer service which has always been helpful. I use the money market for writing checks (up to 6 a month) and ATM cash withdrawals (many no-fee locations), and the checking account for paying bills online (unlimited). Easy to deposit checks with a smart phone app. This isn't my main bank account for earning interest on my savings (unless its rate rises), but it is very good for banking transactions without the banking fees."
I had been struck by inertia after TIAA dropped its rate to 0.40%. Just as I was mobilizing to move money, I received an e-mail from TIAA Direct on June 30 announcing its new rate of 0.80%. Close enough to the top to demobilize!
The rates at TIAA Direct, which was what drew me to this institution in the first place nearly two years ago, have really gone downhill. Their customer service is just atrocious. I have both checking and savings with them. I've had just one problem after another with my checking account. A couple of times, these issues left me without access to my money. This last time, it took multiple phone calls to different departments to resolve anything. After about a week, I was directed Candace (Candi) Kendall in the fraud department which was apparently the source of my issue - they had decided to put a hold on my account without notifying me. There was no fraud. They had decided to do this because I withdrew some of my own money (within the strictly limited amounts imposed by the bank). I do believe that they don't care about pushing customers away - their rates and their services are just that bad!