TAB Bank Debuts Kasasa Cash Checking, 4.00% APY Up To $50k


Deal Summary: Kasasa Cash Checking (rewards checking account), 4.00% APY on qualifying balances up to $50k.

Availability: Nationwide through online application

Utah-based TAB Bank has recently added a Kasasa Cash Checking (Kasasa Cash) account, which earns 4.00% APY on qualifying balances up to $50k. Qualifying balances over $50k earn 0.25% APY, with non-qualifying balances earning 0.05% APY.

Monthly Qualification Requirements

  • Have at least 15 debit card purchases* (minimum $5)
  • Have at least one direct deposit, one ACH, or one bill pay transaction

*The fine print on the landing page clearly describes which debit card “activities do not count toward earning account rewards:"

ATM-processed transactions, transfers between accounts, debit card purchases less than $5.00, debit card purchases processed by merchants and received by our bank as ATM transactions, non-retail payment transactions and purchases made with debit cards not issued by our bank.

Kasasa Cash Details

  • No minimum opening deposit requirement.
  • No monthly maintenance or opening/closing fees.
  • Limit of one account per Social Security number.
  • Nationwide ATM fees will be reimbursed up to $15 per cycle.
  • New accounts will automatically qualify during the account’s first statement cycle.

Kasasa Saver

The Kasasa Saver account linked to the Kasasa Cash earns 1.50% APY on qualifying balances up to $100k. Qualifying balances over $100k earn 0.25% APY, with non-qualifying balances earning 0.05% APY.

Like the Kasasa Cash account, there are no fees associated with the Kasasa Saver account and no minimum opening deposit. There is also a limit of one Kasasa Saver account per Social Security number.

Kasasa Cash

For those not familiar with the Kasasa brand, Kasasa Cash is a type of Reward Checking Account (RCA) developed by the Texas company, Kasasa, Ltd. According to the Kasasa website,

Kasasa: the free checking account that rewards each month for doing things you already do.

By performing certain actions valuable to your bank or credit union, like using your debit card or online banking, your institution makes more money, which they share with you in the form of rewards.

In case you were wondering, “Kasasa” is just a made-up word.

In a world where real-life people are too often taken for granted as account numbers,
we didn’t want to be the next [INSERT GENERIC NAME] checking account.

High Yield Savings

The unique thing about TAB Bank and their Kasasa accounts is that TAB Bank also offers an online High Yield Savings account. Improvements have been made to the High Yield Savings since my last review. It now earns 2.40% APY on all balances of at least $1. There is no minimum opening deposit or monthly service fee.

Hopefully, this will spur other internet banks to offer their own Reward Checking Accounts.


Headquartered in Ogden, Utah, TAB Bank has been offering its product line on a nationwide basis for several years. In the past year, an online application has been added, which is a distinct improvement over submitting an application by phone, e-mail, or even snail-mail.

The Kasasa Cash account can be opened online, or in person at TAB Bank’s sole branch located on Harrison Boulevard in Ogden.

Bank Overview

TAB Bank has an overall health grade of "B" at, with a Texas Ratio of 16.10% (above average), based on December 31, 2018 data. TAB Bank has an excellent capitalization level (14.73%), the result of holding $739.41 million in assets with $14.73 million in equity. Please refer to our financial overview of TAB Bank (FDIC Certificate # 34781) for more details.

Currently Utah’s 24th largest bank, Tab Bank was established in 1998 as the Transportation Alliance Bank, Inc. by parent company, Flying J Inc. Originally founded to provide financial services to the US and Canadian trucking industry, TAB Bank subsequently expanded to offer custom working-capital solutions to businesses from a variety of industries.

According to a recent Bank Director article,

Most people assume that fintech companies are out to take business away from banks, but what if the opposite is true?

What if, instead of being a threat, fintech companies actually open up new opportunities for banks?

“We came to the conclusion that we would build our strategy around how we think the market will look in two to five years, not how it behaves today,” says Curt Queyrouze, president of TAB. “What we determined was that once consumers try a digital interaction, they stay in that lane.”

How the Kasasa Cash Account Compares

As you can imagine, there aren’t that many High Yield Reward Checking Accounts with maximum qualifying balances of at least $50k. For this comparison, I've chosen those accounts tracked by that are nationally available and have maximum qualifying balances of at least $25k. TAB Bank’s Kasasa Cash APY currently equals that of Orion Federal Credit Union’s Premium Checking APY, but the $50k qualifying balance gives TAB Bank a definite competitive edge.

The above rates are accurate as of 4/22/2019.

To look for the best Reward Checking Account rates, both nationwide and state specific, please refer to our High Yield Reward Checking Account Rates Table page.

Related Pages: Salt Lake City checking accounts, reward checking accounts, nationwide deals, Internet banks

Anon   |     |   Comment #1
What's an example of a non-retail payment transaction?
Anymouse   |     |   Comment #5
Multiple small payments to the utility company each month?
Joel   |     |   Comment #8
Paying your mortgage(s), car payments, power, water, property tax(s), credit cards, insurance(s), ISP, phones and so on, do not count as purchases.
In other words, only material things and services count as purchases and nothing else and those purchases must be transactions as credit (signature based) not as ATM or debit card where you enter your pin number.
willy12   |     |   Comment #9
I don't think that is what it means.

I think its banking terminology.

"Retail payments usually involve transactions between two consumers, between consumers and businesses, or between two businesses" - the FFIEC IT Examination Handbook
Anon   |     |   Comment #11
Wrong! It says on their website At least a combined total of 15 pin-based / signature-based debit card purchases.
kentchristopher   |     |   Comment #2
To anyone thinking "meh, 15 debit card transactions kills the deal - I'd rather use my rewards card" as I did... I decided to do some math.

(This assumes you'll deposit and maintain a balance of exactly $50,000.)

TAB Checking:
$50,000 @ 4.0% for 1 year earns $2000 (ignoring compounding because the interest rate changes above 50k and withdrawing anything above $50k each month)
- Fed income tax (22%) = $1560 (YMMV)

Other Savings (e.g. CIT Bank):
$50,000 @ 2.4% for 1 year earns $1214 (compounded daily)
- Fed income tax (22%) = $947 (YMMV)

$1560 - $947 = $613 additional income over the savings account
(State income tax reduces this further if applicable.)

$613 / 180 required debit card transactions per year: $3.41 earned for each transaction

Assuming transactions average $7 each, that's like getting almost 50% cash back if you do exactly 15 transactions per month. (Obviously an average closer to $5 is better.)

Compared to rewards credit card:
If your average transaction is $7, x 180 transactions/year, that's $1260 spent.
- a 2% rewards card earns $25.20 for the year
- a 4% rewards card earns $50.40 for the year

Basically, if you have $50k you want to keep in a checking or savings account, and it won't be a problem doing 15 small card transactions a month, this is definitely a better deal than parking your money in a high interest savings account and using a rewards card for those small transactions.

One piece of information I can't find is whether TAB has a foreign transaction fee on debit card transactions. I'm assuming they do, but if someone does sign up and finds that info in the terms page, please report back.
Anonymous   |     |   Comment #4
Not all that familiar with how things get processed. When I last had a rewards checking account (now closed) the financial institution had some rules about not counting debit card transactions that were processed as credit card transactions towards the required number of debit card transactions needed. There are too many question marks for this TAB account for this individual.
Joel   |     |   Comment #6
kentchristopher, You forgot to include your time, driving, visiting stores and added cost to the transportation expenses.
I spend over $1600 a month on food, clothing, transportation and misc expenses, I use credit card that pays me back on average month of about 2% back and that makes it income tax free for about $400/year and the $50K CD makes me 3.5%. I make more money than your calculations and suggestions say, after the income tax is included and I do not have to move my finger to make minimum purchases and worry about meeting the obligations and logging in to do ACH every month.
By the way, many bill payments by reward credit cards make me another $300/year tax free.
Jake   |     |   Comment #27
I get what you mean, but CDs are not the most liquid vehicle for you money. Additionally, earning credit card cash back is $1600x12months. This is $75x12months. Thus, take the difference between the two and get cash back plus on the leftover plus 4% apy, you will come out ahead.
Bob   |     |   Comment #28
@Joel your not looking at them exclusively as Jake said. Spending $1600 a month will net you ~$400 tax free, but for this account you only need to spend minimum of $900 for the year, which at 2% nets you ~$25 in cash back. Just take your $1600 x 12months = 19200 -900 = $18300. You'll earn 2% on $18300, plus 4% on $50,000. Which is approximately $2366 extra cash before taxes. This is not including the CD, which as Jake said is not liquid enough for some. With the CD the difference gets much closer.
kentchristopher   |     |   Comment #37
I didn't forget those things, because I wasn't suggesting going out of your way to use their debit card, rather using it in place of rewards credit cards on day-to-day spending (e.g. $7 supermarket purchase). You'd still use your rewards card(s) for more expensive purchases.

However, pgroove_fan's provided some crucial info in a comment below [ ] which includes text from their terms and conditions suggesting that they would heavily frown on only using the debit card for small transactions and that they could nullify the 4% rate if you seemed like you were only using the debit card to score that rate. This makes it sound likely that my "math" above might raise a red flag, even if it was organic spending, and thus enough for me to pass on it.
abominable1   |     |   Comment #7
@kentchristopher Why should anyone chase an extra $25 per year by doing 15 debits, dd and hp? If I can't make at least $200 for a hp not doing it.
123   |     |   Comment #19
Good deal! Or, you can do 2 Orion accounts = $60K at 4% with 16 Credit card transactions per month.
ra88   |     |   Comment #31
I think Orion is a hard pull. This is a good deal for people who can easily meet the requirements. I don't see why they won't accept $5 + multiples but be careful with online companies that process debit cards as "ATM."
ra88   |     |   Comment #32
Terms below (@ pgroove_fan) indicate they might be vigilant about multiples.
deplorable 1
deplorable 1   |     |   Comment #35
I remember people laughing at me on here for my small 5% savings accounts with no hoops to jump through. All totaled I have $54,000 earning 5% which requires no work other than logging in to check the balance periodically. I think I would rather hunt down the best bank bonuses rather than do all the debit card transactions.
fromtaipei   |     |   Comment #45
Hi deplorable 1 - would you share the name of your savings bank? Like to do the same as you have done. Thanks
reneessance6   |     |   Comment #69
where do i find these 5% savings accounts with no hoops. thanks. renee
#70 - This comment has been removed for violating our comment policy.
#71 - This comment has been removed for violating our comment policy.
Interested   |     |   Comment #73
Hi there. What bank do u use for this 5 percent please?
willy12   |     |   Comment #46
I have multiple RCAs and always do a bunch of small gas station transactions to meet the requirements.

Because I use prepaid gift cards bought at a discount for most of my REAL retail spending I would find it very difficult to find $75 a month to be able to spend. I mean right now, I could easily do it for my Geico payment but thats once every 6 months. But I would have to forgo using prepaid cards in order to use this account. Because of that, Im probably going to pass on it.

I am still considering opening an Orien though.

I currently have 2 at Heritage Bank and I knock them out at the first of the month from small gas station transactions and maybe a dollar store purchase if I happen to need something.

If not for all of that this 4% would certainly be worthwhile as your math shows.
And it might be something I revisit in the future.
Ninja4%   |     |   Comment #3
Can anyone confirm a hard inquiry when applying for this?
Hoop Jumping
Hoop Jumping   |     |   Comment #10
This deal with all the jumping through hoops goes to show how good those 4% set/forget CDs were last year.
moneysaver   |     |   Comment #56
I never understand people who post about "hoop jumping" in regards to RCA accounts. There's no hoop jumping involved. Just don't use cash, and do use your debit card for your normal monthly shopping/spending, and most people will meet RCA rules without batting an eyelash.

Grocery shopping-debit card; eating out-debit card; online shopping-debit card; coffee at Starbucks-debit card, etc etc. It's really not that hard to do.

I have 3 RCA accounts and usually I end up making more POS purchases in a month than I need to meet the requirements of my 3 RCAs.
Green Dream
Green Dream   |     |   Comment #65
That assumes one does the required amount of qualified purchasing in a month. I easily do less than 15 spends in a single months even if every spending occasion happens to qualify. So, yes, there would be "hoop jumping" involved in order for me to reach the required limit.
AKRON   |     |   Comment #12
Ugh......Too much work. Thanks but I'll take 2.47% for doing nothing and be quite happy with my lazy self.
Never Trump Republican
Never Trump Republican   |     |   Comment #13
I was able to open the account, and fund it in less than 20 minutes   !!     So far positive experience.     Yes ... 15 transaction of $5 minimum will be a little bit tedious task to do.
midas89   |     |   Comment #21
NTR, I agree that the 15 separate debit transactions (equaling a minimum of $75 per month, as you know) might be tedious, especially if they won't allow doing something like $5.01 + $5.02 + $5.03 etc. payments to one's Internet/Cable TV Bill as one wild example. I don't know if this would be disallowed by TAB Bank, of course.
Never Trump Republican
Never Trump Republican   |     |   Comment #23
#21: I did not realize they won't count successive $5.01 + $5.02 + $5.03 towards the total of 15.   Anyways I don't do that sort of thing.

When I buy my grocery, gas etc, I will try to make this work.   I will ask two bill at grocery, and maybe rather than filling up full tank of gas, I will fill up 3/4.

No idea if I can make it work, will try, but if I cannot, then will close the account.   They have indicated no fees to close account anyways.
midas89   |     |   Comment #24
Just to reiterate, I don't know if the paying of a utility like the cable or internet or cell phone bill in multiples would work with this specific bank. I only question if it might not work due to a possible restriction by them regarding what doesn't qualify.

it sounds like you have a good plan for yourself. And you're right, with the fact there are no fees if one doesn't hit the requirements, you can always close the account.
Never Trump Republican
Never Trump Republican   |     |   Comment #26
#24:   Oh ... So they might allow $5.01, $5.02, $50.03 ... Maybe some of us will choose to do that.   Will be nice if those who try post here to let us know the outcome.

As I indicated, if I can make it work, good, else I'll close account, and move on.
midas89   |     |   Comment #29
NTR, there's a section on the TAB page detailing this account that says the following activity does not count towards earning rewards: "non-retail payment transactions"

If, by chance, you happen to call TAB because of another issue or question related to your brand new account, if it's easy, perhaps you could ask the rep to clarify exactly what "non-retail payment transactions" mean. Or to put it simply, is a payment to a utility company considered a non-retail transaction by TAB? Thanks.
midas89   |     |   Comment #34
NTR, please disregard Comment #29 and see p_groove's Comment # 30.
Never Trump Republican
Never Trump Republican   |     |   Comment #38
#34 : Right ... I noticed ... Looks like this is not work out ... *sigh*
niniss   |     |   Comment #14
15 card usage is too much for me.
gregk   |     |   Comment #15
Does anyone know if you can have more than one account?
111   |     |   Comment #16
docs say 1 acct. per SS no.
gregk   |     |   Comment #18
@111: Really? TAB rep I spoke to said more than one account allowed. Is this another case where reps don't know their own rules (sigh)?
gregk   |     |   Comment #17
To answer my own question, - yes, you can have multiple accounts. BTW, no hard pull. Like most RCA's requirements are waived for he first month. No free checks, - but a small number of temps can be provided. Rep was uncertain if the online app had space to name POD beneficiary, but if not it could be done separately.

I spoke with a gentleman at TAB a few minutes ago who was uncommonly helpful and polite.

Warning to Orion FCU: you're about to lose half or more of your RCA deposits.
111   |     |   Comment #20
From the "Kasasa Account Disclosure.pdf" file generated during my application earlier this morning -

"Account approval, conditions, qualifications, limits,
timeframes, enrollments, log-ons and other requirements apply.
No minimum deposit is required to open the Kasasa Cash
account. No minimum deposit is required to open the Kasasa
Saver account. Enrollment in E-Statements is a condition of
these accounts.
*****Limit of 1 account per Social Security Number
(SSN). *****
There are no recurring monthly maintenance charges or
fees to open or close these accounts. These accounts are not
to be used for commercial purposes. If the accounts are closed,
you will forfeit any rewards that have not been credited to your
accounts. A Kasasa Cash account is required to have a Kasasa
Saver account. If, for whatever reason the Kasasa Saver
portion of your account is closed, your account will
automatically be converted to the associated standalone
Kasasa Cash account and that account's terms and conditions
articulated within their specific disclosure will apply. A linked
Kasasa Saver account is required for automatic savings."

Asterisks mine.
gregk   |     |   Comment #22
Yeah, when I called back the nice gentleman I spoke with did a bit of further investigation and corrected himself. One account per SSN, - check.
111   |     |   Comment #25
I can confirm no hard pull for Equifax or TransUnion, in my case (I don't get realtime feedback on Experian.)

Note that there have been cases reported on this website where some folks got hard pulls and some didn't, for the same offer.
pgroove_fan   |     |   Comment #30
TAB is refreshingly transparent, offering up-front access to the Truth In Savings Disclosure. The pdf can be located in the green backgrounded area about 75% of the way down of this link:

For myself, I'm squared away with RCAs for the moment, but look forward to reading reviews of anyone here on DA that goes for this offer.

The naysayers and system-gamers will likely have much to say about the following extract from the document.

"Commensurate with the spending activities identified above, we expect the account's debit card to be used frequently throughout each month and for transaction amounts to reflect a wide dollar range. Small debit card transactions conducted on the same day at a single merchant and/or multiple transactions made during a condensed time period particularly near the end of a Monthly Qualification Cycle are not considered normal, day-to-day spending behavior. These types of transactions appear to be conducted with the sole purpose of qualifying for the account's rewards and thus will be deemed inappropriate transactions and will not count toward earning the account's rewards. TAB Bank reserves the right to determine if the account is being maintained for a purpose other than day-to-day, primary use. Accountholders who persist in making debit card transactions in a calculated and limited fashion in order to meet their monthly qualifications may have their accounts converted to a different checking account or closed altogether. We also reserve the right to convert the account to a different checking account if the account does not have consistent active use over 3 consecutive Statement Cycles"
midas89   |     |   Comment #33
pgroove_fan, thank you so much for posting this information. Your posting helped me decide that this account is not for me.
Never Trump Republican
Never Trump Republican   |     |   Comment #39
#30 ... Thanks ... I will close my recently opened account ... I was planning to do what they explicitly do not want .

.. Waiting for something else to come along ....
Fred   |     |   Comment #47
I probably won't open this account, as I have Orion and I probably won't hit the cap on that. But I would not be too scared about these terms. The fact that they're saying they have the right does not mean they are actively taking action, or even that they have the ability to monitor this systematically on each account. I suspect it serves the purpose of encouraging people to use the debit card more and to give them flexibility down the road if they want to limit deposits.
midas89   |     |   Comment #49
I disagree with your assessment, Fred. It would be very easy for a programmer to create an algorithm that automatically kicks in when the 4% is paid that examines the debit card amounts charged. For one, they can simply just do an averaging of the total transactions and amounts. If the parameters are hit, an email or in-house notice can be sent to a designated banking employee to take note.

Also, on their "We also reserve the right to convert the account to a different checking account if the account does not have consistent active use over 3 consecutive Statement Cycles": This would be another very easy thing to program into their software which can easily monitor/notify.
111   |     |   Comment #50
I disagree in part with your assessment, Midas. Sure, it would be simple for any bank's IT to create programming that flags all accounts with less than 15 debitcard transactions, each of $5 or more, and deny those accounts the 4%.

But that's not the issue - the issue is this rather mushy, non-quantitative clause that p_groove identified above (the text starting with "Commensurate with the spending activities identified above,..." . You'll notice, nearly everything in that clause is subjective. There are not many ways to program an algorithm to flag any of that, UNLESS the bank depends on hidden and higher limits (what you are perhaps calling "parameters") for either the number of transactions, their minimum amount (or some average), or perhaps the number of different merchants or retailers where the card is used each month.

That's why I posted earlier that a more straightforward and honest way for this bank to make it's wishes known to potential customers, would be to simply state these higher limits, or parameters. If, for example, they really expect 20 transactions per month at an average of $15, instead of 15 at $5 or above - then they should simply say so, in clear English, and eliminate all the fuzziness.
midas89   |     |   Comment #51
111, I absolutely agree with you and wish a bank with TAB's debit card restrictions would indeed just establish a minimum they require be met.

Regarding ways to automatically program on what to possibly look for regarding possible attempted "gaming of the system": Here's just one example. It's well known that those trying to game the system will simply do multiple Amazon Gift Card reloads for minimum amounts, or multiple small payments to a utility such as Cox Communications or T-Mobile. The software can simply identify if there are multiple payments to the same "merchant" for less than $10 as one example and then go ahead and send a notice to an employee to take a very quick closer look.
Green Dream
Green Dream   |     |   Comment #66
Yes and no. Some of their "subjective" requirements would be harder to program (at least without some unintuitive assumptions being made by the programmers), but others are relatively easy. It wouldn't be hard for software to analysis the spending distribution to flag accounts where "multiple transactions made during a condensed time period particularly near the end of a Monthly Qualification Cycle" or "Small debit card transactions conducted on the same day at a single merchant".
moneysaver   |     |   Comment #57
The correct/accurate disclosure language Pgroove posted above is, I believe, a standard Kasasa kind of disclosure these days. it's not something different and special or harsh that TAB thought up on their own. So, more than likely, if anyone here is already using some Kasasa account as I am without any problems, you'll probably be OK with TAB as well.

The reason the RCA banks had to start including that kind of language is because of some of the people here who boast about knocking out their RCA requirements through repetitive $1 or $3 gasoline purchases and gaming the system stuff like that.

If you simply use the Kasasa account and its debit card for a normal person's routine monthly spending -- and use the card instead of paying cash for various things -- you'll more than likely meet the requirements naturally and not have to worry about getting caught trying to cheat the RCA system.
Green Dream
Green Dream   |     |   Comment #67
I agree that clause is there for stopping the system-gamers.

I disagree that meeting the requirements naturally is "more than likely", as it's subjective to one's spending habits. I know my own monthly spending habits would be a struggle to meet the 15 required transactions and that's assuming all my transactions would be counted as "non-retail payment transactions" (and I pretty sure not all of them would).
PastTense   |     |   Comment #72
The situation here is that most users have multiple Reward Checking accounts--and splitting their monthly spending among say three separate accounts won't be enough to satisfy the requirements--unless they use gimmicks.
jmcmik   |     |   Comment #68
Thank you so much for the info. I don't like what I read. I was interested. I no longer am.
Anon   |     |   Comment #40
Hey gregk I have an Orion account. Why are you saying 'Warning to Orion FCU: you're about to lose half or more of your RCA deposits'? Is Orion going to lower the $30K limit or reduce the rate from 4%?
midas89   |     |   Comment #41
No, Anon, that's not what gregk meant at all. What gregk was saying is that (prior to it being discovered that TAB won't allow people to "game the system regarding the required debit card transactions) Orion is gonna lose a lot of its Rewards Accounts customers because they'll defect and come over to the TAB account.

You see, the TAB account looked a lot more attractive on the surface: No hard pull, a $50K vs $30K balance payout, no $500 minimum deposit per month, and no monthly fee if you don't make the requirements for the month.
Anon   |     |   Comment #42
Thank you midas89. Now I get it. I may just ask Orion if I can open a 2nd RCA. I really don't want to open an account with yet another financial institution. I've opened quite a few chasing CD deals over the past 6-12 months because the old standbys like Penfed haven't offered as attractive rates as the new kids on the block.
pgroove_fan   |     |   Comment #43
I, for one, am quite okay with the FIs defending themselves from the vultures with these clauses.
111   |     |   Comment #44
Well - that's one way of looking at it. To each his own. Your vernacular is, I think, a bit pejorative and overwrought - using the term "vultures", after all. One might better have picked a word somewhere on the spectrum from "participants" to "combatants", I think, and still not have approached the temerity of the term "vultures".

But that's as it may be. Another way for the FIs to "defend themselves", as you put it, would be for them to simply and explicitly define, in plain language, what they are looking for. For example, they could easily have stated in a document "each month we require 20 transactions, each of at least $25.00". That would have defined the matter, and left no room for uncertainty.
blueskies   |     |   Comment #54
I agree with 111 in that the term vultures is pretty extreme. Banks have some pretty sneaky ways to make money and I know they need to make money to stay in business, but some banks take it to the extreme and are unreasonable to work with. Do you call those banks vultures as well? After, it could be said that at times it certainly looks like they do prey upon a certain % df their customers at times.
blueskies   |     |   Comment #52
Hi Anon, maybe you can help me make a decision on opening an account with Orion. Nowadays a lot of retailers are presenting debit charges (in which the consumer selected the credit option) to the bank for payment as debit (instead of credit) even though they didn't have a PIN. Are you having problems finding retailers that honor the credit option?

Also welcome suggestions from anyone else who has been able to accomplish this.
willy12   |     |   Comment #55
Retailers cannot unilaterally made a transaction debit. If you enter a pin, its a debit, if you don't its credit by default.

Because debit transactions require pin numbers and retailers do not know your pin number and cannot enter it after the fact even if they did.
111   |     |   Comment #58
Actually, there were some reports of some retailers (e.g., WalMart) doing this. Please see Ken Tumin's comment in this article from 2015 -

I don't know if WalMart is still doing this currently, or not.
blueskies   |     |   Comment #60
111, I haven't tried the credit option on a debit card at Walmart for years now. At the time they imitated this policy I believe it was for any charge under $50.00 (at least at the Walmart in my town). Since it costs them more money to run it as a credit instead of a debit and they found a way around it I'dt say he only reason they would not still be doing this would be due to a legal issue stopping them and I haven't heard anything about it (but there's a lot of stuff goes on I don't hear about),
blueskies   |     |   Comment #59
It makes perfect sense what you are saying willy12 and since it is so apparently logical, everyone thinks the same as you do - until they run head on into the fact it is not always the case. I first encountered this situation some years back when making a credit charge with my Consumers CU debit card at Walmart (CCU also required 'signature; - i.e. 'credit charges'). I learned it is how the retailer presents the charge to the FI for payment is how the FI processes it. I talked to different FI's and they all said they have no control on how they process the charge (debit or credit),they process it as to how the retailer presents it to them and yes, the retailer can present it for payment as a debit even w/o a PIN. I know, weird, but true.
aprilshowers   |     |   Comment #61
#12 as blueskies #59 points out, retailers can present the transaction to the FI as a debit even if no PIN was entered by the customer. It's referred to as a "PINless debit transaction".
willy12   |     |   Comment #62
My bad Blue. My experience has always jived with what I said. Of course, 99% of my transactions are at gas pumps, $1 online payments or dollar stores.
Potential new customer
Potential new customer   |     |   Comment #63
Extremely poor customer service. I submitted an online application to open a CD account. It's been 4 days and I'm still waiting for an email or phone call with the account information so I can transfer money into the account. I called their new accounts phone number and the automated recording says my hold time is 1 minute. 5 minutes later, another recording from the New Accounts department asks you to leave a message because they are busy. If it's this hard to get money into the bank, think how hard it will be if you ever want to close your account and get it out.
pgroove_fan   |     |   Comment #64
This comment thread began when Ken published TAB's attractive Rewards Checking offer on DA a mere 8 days ago. I find it easy to imagine that TAB is still overwhelmed with applications and processing of the initial surge for that deal.

But maybe I'm missing something.  Which CD offer do you want so badly?  Looks to me like TAB's CD rates are all a bit low for any "potential new" customer to care about.
TAB Bank High Yield Savings Raised to 2.30% APY
UPDATE: 1/26/2019 - Rate increased to 2.40% APY.

Availability: High Yield Savings, 2.30% APY, $2.5k minimum balance and minimum opening deposit.

Availability: Nationwide

Utah-based TAB Bank has added 28 bps to its High Yield Savings account rate, with balances of $2.5k and above now earning 2.30% APY. Balances less than $2.5k earn only 0.25% APY. The High Yield Savings account requires a minimum opening deposit of $2.5k.

Interest is compounded daily and credited on a monthly basis. If the High Yield Savings account is closed...

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TAB Bank Ups Nationally Available 12-Month CD Rate
Availability: 12-month CD (2.33% APY), 18-month CD (2.43% APY), $1k minimum deposit

Availability: Nationwide

Utah-based TAB Bank has raised its CD rates, with the 12-month CD (2.33% APY) and 18-month CD (2.43% APY) offering the best rates. Any TAB Bank CD can be opened with a $1k minimum deposit and there are no stated balance caps.

TAB Bank’s across-the-board CD rate increases in February put its short-term CDs in good standing with DA’s bi-weekly CD Rates Summary. As of yesterday, the 6-month CD (1.87% APY) and...

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TAB Bank Has Nationally Available Competitive 9-Month CD
Availability: 6-month CD (1.61% APY), 9-month CD (1.71% APY), $1k minimum deposit

Availability: Nationwide

Utah-based TAB Bank raised the rates on its CDs yesterday, with the 6-month CD (1.61% APY) and 9-month CD (1.71% APY) being the most competitive. The minimum opening deposit is $1k, with no stated balance cap.

Following the addition of 31 bps, both the 6-month and 9-month CDs are earning their highest APYs since they were added to the product line.

All of the CDs are also available as IRAs (Traditional, Roth), earning the same...

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TAB Bank Raises Rates On Nationally Available CDs
Availability: Nationwide

Last week, Utah-based TAB Bank raised the rates on its CDs, with the 12-month (1.27% APY), 24-month (1.51% APY), and 36-month (1.64% APY) being the most competitive. The minimum opening deposit is $1k, with no stated balance cap.

All three CDs are also offered as IRAs (Traditional, Roth CESA), earning the same APYs with the same funding requirements.

As stated in the Truth in Savings document, the Early Withdrawal Penalty reads as follows:


Headquartered in Ogden, Utah, TAB Bank offers its product line nationwide, although...

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5.25% Savings Account at Transportation Alliance Bank
Transportation Alliance Bank (TAB) just increased the rate of its Premium Savings Account to 5.25% APY. The initial deposit requirement is only $25, and there's only a $1 minimum balance requirement to earn the full interest. According to the fee schedule (pdf) there are no monthly fees.

The Money Market Account also had a major rate bump. The rate is just a tad lower than the savings account at 5.15% APY. The advantage of the money market account is that it has check writing privileges (up to 3 a month). It...

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