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TIAA Bank


Overview / Commentary
www.tiaabank.com
855-842-2372
501 Riverside Avenue
Jacksonville, FL 32202

TIAA Bank is the banking component and brand of TIAA-CREF Trust Company. The Trust Company is a subsidiary of TIAA-CREF, a Fortune 100 financial services company that was born out of an act of the New York State Legislature in 1918 to provide life insurance to college professors. TIAA Bank operates as a bank offering depository and lending products and services to individual consumers.

The bank’s products consist of an interest checking account, a high yield savings account, Money Market accounts, and Certificates of Deposit (CDs) on the deposit side, and mortgage and home equity loans on the lending side. The checking account has no minimum balance requirements and no monthly fees, and can be opened with a minimal initial deposit. Free checks, a debit card, and a competitive interest rate also come with the checking account. The high yield savings account offers one of the top interest rates nationally available and comes with no monthly fees or minimum balance requirements.

DepositAccounts.com reported that in December 2012 the bank began allowing customers to designate beneficiaries to their savings accounts. Money Market accounts offer similar options and rates to that of the savings account and allow for check writing ATM withdrawal as well. ACH transfer limits on both the savings and Money Market accounts were lowered significantly at the beginning of 2013. Three CDs are offered in term lengths of 6 months, 1 year, and 2 years. The rates on these CDs are also competitive along with TIAA Bank’s other account offerings. The bank is able to be competitive because it has no overhead costs associated with operating physical branches.

TIAA Bank online banking is a secure and convenient system through which accounts can be opened and managed. Online statements are available to be view through the system and tasks like Bill Pay, remote deposit, money transfers, and direct deposit can be accomplished. Mobile banking provides the same functions plus remote deposit via the camera of a smartphone or tablet device.

TIAA-CREF Trust Company was established in 1998 as the corporation sought to get into the retail banking business. TIAA-CREF is an acronym for Teachers Insurance and Annuity Association – College Retirement Equities Fund. TIAA Direct is the banking front of the Trust Company and is headquartered in St. Louis, Missouri. The bank manages its customers’ accounts exclusively through its online banking system and has no physical branches.

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Reviews (23)

Excellent Experience.

Posted by: |

TIAA has offered some of the higher CD rates which is what I seek. One of my CDs matured over the weekend and they walked me through the transfer process. They added a couple of days accrued interest to the balance due to the weekend maturity and everything went smoothly. Their representatives have always been professional and thoroughly answer any questions. I hope to do more business with them soon.

6

Uh Oh...Warning Signs

Posted by: |

As good as my experiences have been with TIAA, my initial exposure to TIAA BANK has me worried. They did offer a better IRA CD rate so i took a chance. Website is WEAK as when one looks up account status/activity, etc. BUT - my MAIN COMPLAINT IS - when i needed to speak to Customer Service 2x, they DEMANDED i tell them my "security code" VERBALLY and i had other people in the room, use this code elsewhere AND CANNOT BELIEVE IT CANNOT BE INPUTTED ON THE PHONE OR OTHER METHOD as every i bank i work with has as procedure.

11

Bank Has Really Declined Since TIAA Bought It

Posted by: |

This bank just ok when it was Everbank but I put up with it for the great interest rates. Ever since TIAA bought it the web interface has only gotten worse. The past few months the bill pay options have stopped working correctly and now I don't even have the option of paying a bunch of my credit cards automatically. The missed payments led to late fees because TIAA never notified me that they wouldn't be making these payments any more.
Customer Service acts like there's nothing wrong and they've been completely useless.
Also, their wire transfer service is terrible and expensive. TIAA is driving this place into the ground.

37

Buyer Beware!!! Horrible.

Posted by: |

Ever since T.I.A.A took over from Ever-home the customer service went down hill FAST. These people have absolutely ZERO clue as to what they are doing. I would advise NOT using this bank for mortgages, savings, checking or any other banking. Find a Reputable bank . Don't be fooled by there "sweet talk" They lie through their teeth. ,

"Buyer Beware"

2
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Health
A

Data as of Q4 2019

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #34775
Year Established1998
Employees2576
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.5%
Return on Equity - YTD5.11%
Annual Interest Income$1.51B
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$41.95B$36.90B
LoansQ4 2019vs Q4 2018$35.05B$30.76B
DepositsQ4 2019vs Q4 2018$28.18B$23.51B
Equity CapitalQ4 2019vs Q4 2018$3.92B$3.87B
Loan Loss AllowanceQ4 2019vs Q4 2018$152.6MM$149.1MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$145.6MM$196.4MM
Real Estate OwnedQ4 2019vs Q4 2018$29.6MM$26.6MM
Rates
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Always verify rates and promotions with the bank or credit union. We are not TIAA 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.

TIAA Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.01%--Basic Savings
1.01%--Basic Savings IRA

TIAA Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.40%*-$250kYield Pledge Money Market - 1st Year Intro Rate
OTHER TIERS: 1.35% → $250k - $10m
1.40%*-$250kYield Pledge Money Market IRA - 1st Year Intro Rate
OTHER TIERS: 1.35% → $250k - $10m
1.35%*$100k*$10mYield Pledge Money Market - Ongoing Rates
OTHER TIERS: 0.90% → Up to $10k | 1.01% → $10k - $25k | 1.10% → $25k - $50k | 1.25% → $50k - $100k
1.35%*$100k*$10mYield Pledge Money Market IRA - Ongoing Rates
OTHER TIERS: 0.90% → Up to $10k | 1.01% → $10k - $25k | 1.10% → $25k - $50k | 1.25% → $50k - $100k
1.01%*$1m*-Business Money Market
OTHER TIERS: 0.40% → Up to $10k | 0.50% → $10k - $100k | 0.70% → $100k - $1m

TIAA Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.75%*$1m*-Business Interest Checking
OTHER TIERS: 0.20% → Up to $10k | 0.46% → $10k - $100k | 0.61% → $100k - $1m
0.50%*$50k*$250kYield Pledge Checking - 1st Year Intro Rate
OTHER TIERS: 0.35% → $250k - $10m
0.50%*-$250kSmall Business Checking - 1st Year Intro Rate
OTHER TIERS: 0.35% → $250k - $10m
0.35%*$100k*$10mSmall Business Checking - Ongoing Rates
OTHER TIERS: 0.20% → Up to $25k | 0.25% → $25k - $50k | 0.30% → $50k - $100k
0.35%*$100k*$10mYield Pledge Checking - Ongoing Rates
OTHER TIERS: 0.20% → Up to $25k | 0.25% → $25k - $50k | 0.30% → $50k - $100k
0.35%*$100k*-Non-Profit Checking
OTHER TIERS: 0.20% → Up to $25k | 0.25% → $25k - $50k | 0.30% → $50k - $100k

TIAA Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.70%$5k$1m5 Year Yield Pledge CD
1.65%$5k$1m4 Year Yield Pledge CD
1.60%$5k$1m2 Year Yield Pledge CD
1.60%$5k$1m3 Year Yield Pledge CD
1.60%$1.5k$250k3.5 Year Bump Rate CD
1.55%$1k-5 Year CD
1.55%$5k$1m1.5 Year Yield Pledge CD
1.50%$1k-4 Year CD
1.50%$5k$1m1 Year Yield Pledge CD
1.45%$1k-2 Year CD
1.45%$1k-3 Year CD
1.40%$1k-1.5 Year CD
1.35%$1k-1 Year CD
1.25%$5k$1m9 Month Yield Pledge CD
1.20%$5k$1m2.5 Year Yield Pledge CD
1.17%$10k$12.5m1 Year CDARS
1.15%$10k$2.5m2 Year CDARS
1.15%$1.5k$100kBusiness 1 Year CD
1.15%$1.5k$100kBusiness 1.5 Year CD
1.15%$1.5k$100kBusiness 2 Year CD
1.15%$1.5k$100kBusiness 2.5 Year CD
1.15%$1.5k$100kBusiness 3 Year CD
1.15%$1.5k$100kBusiness 4 Year CD
1.15%$1.5k$100kBusiness 5 Year CD
1.10%$1k-9 Month CD
1.10%$5k$1m6 Month Yield Pledge CD
1.05%$1k-2.5 Year CD
1.02%$10k$1m3 Year CDARS
1.01%$1.5k$100kBusiness 9 Month CD
0.95%$1k-6 Month CD
0.90%$1.5k$100kBusiness 6 Month CD
0.83%$10k$12.5m6 Month CDARS
0.82%$10k$12.5mBusiness 1 Year CDARS
0.80%$5k$1m3 Month Yield Pledge CD
0.80%$1.5k$100kBusiness 3 Month CD
0.70%$10k$2.5mBusiness 2 Year CDARS
0.65%$1k-3 Month CD
0.63%$10k$12.5mBusiness 6 Month CDARS
0.57%$10k$1mBusiness 3 Year CDARS
0.56%$10k$12.5m3 Month CDARS
0.56%$10k$12.5mBusiness 3 Month CDARS

TIAA Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.70%$5k-5 Year Yield Pledge IRA
1.65%$5k-4 Year Yield Pledge IRA
1.60%$5k-2 Year Yield Pledge IRA
1.60%$5k-3 Year Yield Pledge IRA
1.60%$1.5k$250k3.5 Year Bump Rate IRA
1.55%$5k-1.5 Year Yield Pledge IRA
1.55%$1k-5 Year IRA
1.50%$5k-1 Year Yield Pledge IRA
1.50%$1k-4 Year IRA
1.45%$1k-2 Year IRA
1.45%$1k-3 Year IRA
1.40%$1k-1.5 Year IRA
1.35%$1k-1 Year IRA
1.25%$5k-9 Month Yield Pledge IRA
1.20%$5k-2.5 Year Yield Pledge IRA
1.10%$5k-6 Month Yield Pledge IRA
1.10%$1k-9 Month IRA
1.05%$1k-2.5 Year IRA
0.95%$1k-6 Month IRA
0.80%$5k-3 Month Yield Pledge IRA
0.65%$1k-3 Month IRA
Locations

TIAA Bank is an Internet only bank and does not have branch locations. Its headquarters is located at 501 Riverside Avenue - Jacksonville, FL 32202

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.