TotalDirectBank Reviews

Average Rating:
Based on 32 review


Posted by: |

MY MONEY IS STUCK AT Total Direct Bank (TDB) BECAUSE CITIbank only will link external accounts that have 3rd party data access (such as PLAID). And you can't link an external account using TDB's website. Truly sucks.


Posted by: |

Opening an account and dealing with this bank has been the worst experience ever.
1) First they open the account with well over a week delay (despite pulling the opening deposit from the funding bank within a day).
2) Then once the account is open, online banking does not allow registration. Repeated calling always resulted in "there is a known error and the data is just not pulling through. We will try again overnight".
3) So almost three weeks after application, it finally works, I can log in and notice that the opening deposit was credited a full week later than it had been pulled from opening bank.
4) But that's not enough, there is also no external ACH transfer system. So how do they expect me to actually put money into that account?
5) So I try to link the account with rtg and acct number from my hub account. Trial deposits just do not seem to arrive. Try again a week later, they actually reject the trial deposits with some error code that my hub account bank has to inform me of.
6) Try to log in to TotalDirect online banking - now locked out. Have to call them. Do that three times - answer is "there is something wrong with our online banking - try again tomorrow".
7) Never works again, so I keep calling every day, and finally get through to somebody more competent who now says that they need a phot of my drivers license to unblock the account. Fine - provided. Oh but no... No acknowledgement of receiving the document, only a couple of days later a letter stating account has been closed.
In summary: I have no idea what's wrong with this bank, but their processes are from the 1980s at best, completely incompetent staff, and not even any idea how this bank manages to have any customers.
WORST. BANK. EVER. Stay far away!

Changes At This Bank?

Does anyone know of any changes to this bank - mergers, etc.?

Hmmmmm….NOT Ready For Prime Time

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Trying to open a new MM account. My plan was to have a maturing CD in October at TDB transferred to this new account. The application process went smoothly enough and micro deposits were sent to BofA for the ACH transfer to open the account. TDB has taken the funds out of BofA and this morning is no longer showing as pending at BofA but I have no idea where the money is because I have no account number and nothing showing online to my already set up online banking where I can view my CD. I realize they must be busy with such a great rate but obviously can’t handle the additional business. I called yesterday and was told once they’ve received my funds I’d get an email with the account number but still nothing. I’ve opened dozens of new accounts the past few years and have always had the account number provided at the end of applying. This is really unacceptable. I was planning on adding more to the account once initial funding was complete but now I doubt I’ll do that. The unprofessionalism and unpreparedness for the new influx of business is unacceptable.
UPDATE 9-18-22 So on 9-14-22 at 8:30 PM I did get an email that I received my new account number via secure message, BUT here I am a full week after the initial application not able to view my account online along with my CD. I have sent 2 emails and then phoned them regarding this on 9-16-22 and was told I’d be able to view the account online on 9-17-22. Still nothing so I am not able to link any new accounts to pull new funds into TDB. The interest rate is good but really, I just don’t think it’s worth the hassle. I’m worried what’s going to happen when my CD matures there mid October. Not sure I trust them with my money.

Total Fail

Posted by: |

Tried to open an account. Got username and password. Micro deposits were apparently made to 2 external accounts, but not absolutely sure as identified only as Able to log on a few times then nothing. Total fail, seems even my email address has been purged from there system. Called three times and emailed twice, no response to emails and quit call after 70 minute hold time. I will say that I have tried 7 of these high yield online banks and these issues seem to be common.

Ridiculous - Feels Like A Scam

Tried to setup a money market account, setup initial deposit. Got no response other than to confirm my email. Money pulled from my external account, emailed them multiple times on how to access, no response. Called 2 days ago (8 days after setup, 5 days after funds taken out of other account), waited on hold over an hour. they said accounts were taking "a long time to setup". Called back 2 days later, they said they cancelled my account setup, never sent me any notification of any kind and that I needed to do an ACH recall from my other bank. I have never dealt with a bank like this, stay away from these guys.

How Long It Takes For The Totaldirect To Make A New MMA Accessible After Their Pulling Initial Funds From An External Bank?

Posted by: |

No answers from their customer services.

BEWARE! Fees Fees Fees

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Fees listed below:

There are also many additional restrictions and what I would consider hidden fees.

I always look at the fee schedule for accounts I am interested in. All I have to say about this bank is.....Holy Hanna! My other banks do not charge these fees and if they did I definitely would have had to pay a lot!

Miscellaneous Service Charges for Total Direct Bank Account Holders

Account Research/Reconcilement (Hourly Rate) $30.00
Cashier’s Checks $30.00
Collections (Domestic) Incoming $20.00
Outgoing $20.00
Consulate Letters $5.00
Deposited Items Returned (per item) $12.00
Deposited Items Re-Submitted (per item) $10.00
Dormant Account Fee (monthly fee) $25.00
Overdraft (OD) Funds Paid Item Fee $37.00
Uncollected Funds Paid Item Fee $37.00
Non-Sufficient Funds (NSF) Returned Item Fee $37.00
Uncollected Funds Returned Item Fee $37.00
Legal Order Processing Fee $125.00
Returned Mail (per statement) $20.00
Stop Payment Order
(per item) $30.00
Sustained Overdraft Balance Fee $20.00
Overdraft Protection Transfer Fee (per transfer) $10.00
Temporary Accounts (Accounts Closed within 6 months of opening) $25.00
Wire Transfers Domestic / International Incoming $15.00


Posted by: |

Unable to open a CD from this bank on their website. Tried twice, once as an individual and once as joint account. After taking 15 minutes each time to fill in all the info, I get a message saying that I cant open an account or a CD online. Shouldnt be this difficult to open an account on an online bank. I should not have to call the bank to open an account.

Terrible Service

I had one of the worst experiences I've ever had in receiving funds after the maturity of a CD. (I've had more than 200 CDs, so I know a fair amount about them.)

My CD matured on a Saturday. On Friday, the day before maturity, I got a phone call from TotalDirect confirming I wanted to redeem the CD (this followed my sending them an email to that effect). I was promised the funds would be sent to me on Monday.

On the following Tuesday, I received an email from TotalDirect saying they had closed the account that day, and I got an email from UPS saying I would have the check on the following Thursday.

On Thursday, I called TotalDirect, and they said UPS didn't pick up the check. I made a big deal out of it, and I received the check, without extra interest, on the following Monday, NINE DAYS after the account matured.

I've never had such a hard time receiving funds, and there were other details that led me to believe TotalDirect didn't mind wasting my time while providing poor service.

I will never do business with TotalDirect again.

Good Rate, Ok Signup Process, Avg To Bad Online Account Management

I signed up and when I signed up had a rate better than CITI. Citi now has a better rate. Go figure.

I was able to signup pretty fast, had to go fish for my drivers license.

The online account management after the account opened has like zero functionality, but for a CD, I don't care that much, just so long as when it matures I get my money.

Easy To Apply

Posted by: |

I was able to apply with my iphone which was great. The technology was very user-friendly and easy to complete in about 3 minutes and I especially liked the fact that I received an instant approval. It's good to see that banks like Total Direct Bank care about the user experience. I will definitely recommend my family and friends to open accounts here.

Not A Good Experience For Me

Posted by: |

I have had numerous problems with this bank,

Does Not Protect It’S Customers

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I opened up an investment account with another institution, that’s another review. Using that’s institutions outdated and clunky online portal i setup a transfer from my Total Direct account. After waiting a couple of days I see that the other institution had initiated two withdrawals, the second of which of course was unauthorized and overdrew my a Total Direct Account. I contacted the other institution to correct the problem; however, they started a third withdrawal from Total Direct. After contacting them again, I am told there’s nothing they can do. At this point I attempt to contact Total Direct to tell them the two withdrawals were authorized. Apparently Total Direct only wants to help it’s customers from 8:30 to 5, since it was after 5 I was stuck until the next morning. I called promptly at 8:30 and explained the above and two of the three transactions were unauthorized. Total Direct refused to take any action and charged me $50 is overdraft fees. I expect when I notify my bank that charges are unauthorized they will stop the transactions and penalize me for those unauthorized transactions. When I have had similar issues in the past at other banks those banks have worked to protect me. I have ceased my relationship with Total Direct and cannot recommend anyone open any account with them.

I should mention the other institution was GM Right Notes.

Too Frustrating To Use

There is hardly anything you can do to manage your account online. You have to call (and wait) to get any info or make any changes. You cannot transfer out of this account to another bank. You cannot specify a limit to how they can use your private information in sharing with others--you have to write the bank and send that request via US mail! I am closing my sizable account. (That's the only way I can get my money out). I would not recommend this bank. The hassle more than from any other bank I have ever used.

Off To A Slow Start

Posted by: |

After applying I received an email to enroll in online banking. Several tries with different browsers all ended with 'unable to process because some of the information you provided is incorrect'.

No indication of what information was incorrect but it was good enough for them to collect funding from the source account apparently.

Their business hours are pretty tight so can't call after work. I emailed and will update this review if warranted.

update 1: Spoke to a rep who said the reason my enrollment failed is that my information hadn't been added to their system and I need to wait another day.. I'd already gotten an email that this process was completed and ready for enrollment so this doesn't make much sense. No new stars added for this interaction.

update 2: Able to finally access account online. Website easy to navigate but no obvious option to add external account for transfers. I emailed for more far this is requiring more legwork on my part than I'm used to.

update 3: Was told external transfers in or out cannot be initiated from TotalDirect and the transfer function on their website is 'disabled'. Not sure why it's there at all then.

Not getting a great vibe from this bank, will check back.

update 4: things haven't improved...transferred money from an external account. the transfer out posted two days ago and has yet to make it to TD's system. So three days no interest on this transferred money. Not good.

update 5: aaand the interest rate dropped without notification. Guess I should have seen that coming.

update 6: account closed six months to the day after opening because that's the minimum time you can close without a fee.

Online Money Market Ok Start

I signed up online looking for some place to put some money away for the new year.

Here are some notes I made to help others:

They have three ways of connecting to another bank to get money for the account.
1) Using "microdeposit" to confirm that the other bank account is mine. This means that they send a small deposit to the account. The microdeposit will appear to come from another company called "Prelim".
2) Logging in to the other bank
3) Through the mail

I chose to use microdeposit and it took two days for it to show on my other bank.

I got an email as soon as I finished the application and then another two emails a day after telling me how to setup an online account (which I was confused because I thought I had already set it up)

I called them and they had an actual human respond to my call, but it looks like they're only available to be talked to from 9am to 5pm est.


Posted by: |

Still failing to e-mail with "further instructions" in the sign up process. Will not link to external accounts from TDB so beware if you don't have another account that will you to link to theirs. Completely substandard for an on line bank. Not worth a few tenths of a percent and will close ASAP without the penalty.

Good So Far

Applied online to get the rate before it does down (I missed it and it went down before). Applying online took all of a few minutes on my iphone, and was able to send the deposit by connecting to my bank account and got a confirmation email as soon as I finished. Also called in when I was done and a real person actually answered my call!

They Don't Want Money

Posted by: |

I sent 2 emails with an easy question about their application and they weren't answered. Called them and waited on hold for 15 minutes so I hung up.

Awful Process To Fund An Account

Posted by: |

They couldn't manage to properly set up an ACH link with my bank, and they don't do wire transfers. They wanted me to mail them a check and hope for the best, so much for the security of MY money. I'm supposed to take the risk and mail them a check, obviously they don't care about the customers, will not deal with them again.

Account Creation Process Works Though Could Be Better

Posted by: |

I opened a Total Direct Bank CD recently and here are some notes on the accounts and the account creation process. I wrote these afterwards, so there could be mistakes/omissions.

You fill out an online application including the funding amount and at the end of the process you have two choices on how to fund the account. One is to send a check which they have to receive in 30 days (which implies there is a 30 day rate lock).

The other funding method is to select your bank from a list and enter your credentials (login/password) into a program called Plaid. It then displayed the account that I wanted to transfer funds from. It did not display other accounts perhaps because they were CD’s rather than savings accounts or did not have enough money to fund the new account. Once you confirm the account, it apparently gathers the account number and routing number to do an ACH transfer. The list of banks seemed extensive.

My first reaction to this idea was negative (as other commenters have said). Plaid claimed to encrypt the credentials. A TDB rep told me that each of the associated banks had to agree and do some setup to make this possible. I know Yahoo Finance has a way to access brokerage accounts and trades can be placed in Yahoo. So, this limited access does seem somewhat common. I did change my password at the other bank afterwards.

TDB rep told me they do not compound interest (which must be why TDB interest rates and APY are the same).
However, you can have your interest sent to a linked account monthly or quarterly. There is a choice on this during the account creation, but I found it confusing. I learned how it worked after calling TDB after I completed the online process. The rep checked my CD Terms and explained how this worked and allowed me to change the setting. It sounded like future changes would not be possible.

As others have mentioned, after account creation no email is sent confirming the new account. That left some doubt in my mind that the account was created. A few days later, I did get two emails. One with a temporary password, the other with a link that uses that password to access a CD Terms PDF file with the details of the account. A few days later, I got a Welcome email with steps to enroll in online banking and to access disclosures.

Note the TDB Support can only be contacted M-F during business hours.

Solid Rate & Service

Posted by: |

The web and mobile experience can improve, but my rate is honored and there are no hidden extra fees, what matters to me, so I am a happy camper. You can actually call this customer service number and speak to a human willing to answer questions, sheeshh! I like that a lot.

Total Direct Bank But Not Totally Online.

Posted by: |

The application process was not smooth. I have Chase but they could not link. No confirmation email after 24 hrs opening a new cd account. I m not sure if i can trust this bank or really have to pick up the phone to talk to someone (would be waste of my time). They need to have more user friendly online version.

Cds Are A Waste Of Time

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Have had two automatic rejections on different applications. No explanations or attempts to resolve the problems are forth coming.

Great Service And Easy Application Process

Posted by: |

I recently opened an account with Total Direct after seeing a better rate than what my current bank was offering me. the overall process of opening an account was simple and I was able to link my other account to the new CD. here are is what I like and didn't like:

What I didn't like:
* I did not receive an email confirmation fright away, I wasn't sure if my application was submitted I had to all customer service for them to confirm that they did receive my application.
* I received email confirmation the next day, and asked me to enroll in online banking.

What I like:
* The entire applications was online, there was no need to sign anything.
* Excellent customer service. I called customer service a few times throughout the process to ask a few questions and they were very helpful, and friendly.
* I like that I didn't need to manually enter my routing number and account number. I was able to link my account in easily.

Overall I was happy with the experience, there are improvements that can be made, but will definitely consider Total Direct again.

Not User Friendly To Open An Account

Posted by: |

Wanted to open a CD but cannot ACH money to them because none of my banks are listed. Cannot believe they do online banking like this. If you want people to invest you need to make it so you can set up ACH transfer without hassles. I'm not mailing a check either.

Work In Progress

Posted by: |

Updated 2/1/2020:
I recently opened a MMA due to competitive rate and I would say the application process has improved since a year ago when I opened a CD with them. The main problem now is that you can't initiate ACH deposits or withdrawals with them once account is opened (initial ACH deposit during application was fine). You would need to rely on your external bank to initiate ACH activities. My other bank does not charge for inbound but charges $3 for outbound (deposits to TotalDirect). The only free option is to send them the deposit checks. Hopefully they'll have ACH implemented soon otherwise I'll close the account when better rates available at other banks. Keep in mind they also have dormant acct fee.

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