TAB Bank is headquartered in Ogden and is the 24th largest bank in the state of Utah. It is also the 759th largest bank in the nation. It was established in 1998 and as of June of 2021, it had grown to 293 employees at 1 location. TAB Bank has an A health rating.
Related Posts
5/30 - Kasasa Cash Discontinued July 1st
5/15 - Online Savings Massive Cut To 1.10%
4/28 - Kasasa Cash Deposit Cap Down To $25K
3/30 - TAB BANK Rate Drop..Received This Email Today
1/18 - New Checking Account
1/2 - Savings Rate Cut At TAB Bank
10/31 - As Rates Fall, the Appeal of High-Yield Reward Checking Grows
4/22 - TAB Bank Debuts Kasasa Cash Checking, 4.00% APY Up To $50k
1/21 - TAB Bank High Yield Savings Raised to 2.30% APY
2/1/18 - TAB Bank Has Nationally Available Competitive 9-Month CD
9/12/16 - TAB Bank Raises Rates On Nationally Available CDs
2/26/07 - 5.25% Savings Account at Transportation Alliance Bank
3/24/06 - 4.50% Money Market Account / 5.15% 12-Month CD at Transportation Alliance Bank
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.
APY Decreases
The rate decreases over the past year are a bummer. I hope the poor reviews I read here aren’t the norm as I’ve had an otherwise good experience in the year or so that I’ve had this account and have not had reason for distrust.
I will also say my experience with customer service has been good. It seemed personal and helpful the couple of times I’ve needed to call. I also do my best to treat people with kindness and respect, in case that relates to my experience.
Lackluster Customer Service
Good rate, but expect loooong hold times to speak with anyone, and if the rep can't figure it out you have to wait a few days for someone to get back to you via email. Said email may or may not address your issue, and you're back to trying to reach a live person again. I put up with it only because of the competitive Kasasa rate. Also be aware that debits must be a minimum of $5. And as someone else pointed out, there is no place check to see the status of how you're doing in meeting requirements. Most Kasasa accounts have that and it's good to be able to confirm that you and the bank are on the same page, no month end surprise. They really should add that.
Avoid Tab Bank Utah
Yet another Utah bank with super weird gotchas. Can't ACH more than 3000 is one example of how bad this place is. Their website is 1980s style. They haven't bothered updating it. They email you your account number! They have no sense of cyber security.
Data as of Q2 2021
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 34781 |
| Year Established | 1998 |
| Employees | 293 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 2.07% |
| Return on Equity - YTD | 22.08% |
| Annual Interest Income | $43.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2021vs Q2 2020 | $1.33B$901.3MM |
| Loans | Q2 2021vs Q2 2020 | $1.11B$725.4MM |
| Deposits | Q2 2021vs Q2 2020 | $843.2MM$679.2MM |
| Equity Capital | Q2 2021vs Q2 2020 | $116.5MM$103.8MM |
| Loan Loss Allowance | Q2 2021vs Q2 2020 | $12.0MM$13.8MM |
| Unbacked Noncurrent Loans | Q2 2021vs Q2 2020 | $4.0MM$10.7MM |
| Real Estate Owned | Q2 2021vs Q2 2020 | $0$0 |