TAB Bank is headquartered in Ogden and is the 25th largest bank in the state of Utah. It is also the 1,055th largest bank in the nation. It was established in 1998 and as of June of 2019, it had grown to 248 employees at 1 location. TAB Bank's savings rates are 5X the national average, and it has a B+ health rating.
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1/21 - TAB Bank High Yield Savings Raised to 2.30% APY
Great Rewards Checking Rates.
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.
As Advertised
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.
Update, Appears They Have Corrected The Error.
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.
Shady Rewards
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.
Data as of Q2 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 34781 |
| Year Established | 1998 |
| Employees | 248 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.03% |
| Return on Equity - YTD | 7.4% |
| Annual Interest Income | $31.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2019vs Q2 2018 | $724.9MM$780.1MM |
| Loans | Q2 2019vs Q2 2018 | $595.7MM$650.8MM |
| Deposits | Q2 2019vs Q2 2018 | $572.8MM$584.4MM |
| Equity Capital | Q2 2019vs Q2 2018 | $102.8MM$97.1MM |
| Loan Loss Allowance | Q2 2019vs Q2 2018 | $11.4MM$9.4MM |
| Unbacked Noncurrent Loans | Q2 2019vs Q2 2018 | $21.2MM$13.9MM |
| Real Estate Owned | Q2 2019vs Q2 2018 | $0$2.8MM |
Always verify rates and promotions with the bank or credit union. We are not TAB Bank; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
TAB Bank Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 2.40% | $1 | - | High Yield Savings | ||
| 1.50%* | - | $100k | Kasasa Saver | ||
| OTHER TIERS: 0.25% → $100k+ | |||||
| 0.25% | $1 | - | Premium Savings | ||
| 0.25% | $1 | - | Business Savings | ||
TAB Bank Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 1.82% | $1 | - | Business Money Market | |
| 0.25% | $25 | - | Money Market |
TAB Bank Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 4.00%* | - | $50k | Kasasa Cash Checking | ||
| OTHER TIERS: 0.25% → $50k+ | |||||
| 0.25% | $25 | - | Business Checking | ||
| 0.10% | $1 | - | 365 Checking | ||
| 0.10% | $1 | - | Tab Chrome Checking | ||
TAB Bank CD Rates
| TAB Bank Locations | ||
|---|---|---|
| Transportation Alliance Bank, Inc. | 4185 Harrison Boulevard, Suite 200 | Ogden, UT 84403 |