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.
Related Posts
1/21 - TAB Bank High Yield Savings Raised to 2.30% APY
Good So Far, Will Update
Opened in minutes online. Allows for very long user names and passwords. Customer service very nice and helpful. Hold time can be long. If you add a secondary user to the account, it is considered a joint account and they can't get another one. Has to be 1 primary per social# and you get only one card per account. But, someone can be authorized to call in to discuss the account. You can open an account and not keep a minimum balance without penalty. It just has to show activity. You can transfer money in and out every month to keep it active. That way, you can have extra accounts in a holding pattern for when you need them. Sometimes banks change the states they service and you can't get one later. They say that they set their own interest rates and it is not tied to the feds on the rewards checking. I will update once I start using it.
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.
Easy To Open, But Can't Transfer Additional $ In
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.
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 |