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TIAA Bank


Overview / Commentary
855-842-2372
501 Riverside Avenue
Jacksonville, FL 32202

TIAA Direct 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 Direct 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 Direct’s other account offerings. The bank is able to be competitive because it has no overhead costs associated with operating physical branches.

TIAA Direct 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.

Related Posts

1 Year CD Now 2.81% Apy $50,000 Minimum - 1/15/2019

https://www.tiaabank.com/banking/cd

Many Possible CD Rate Increases - 1/1/2019

Personally I only track their 1 year CD so I can confirm that It is up to 2.79% APY from 2.68% which at least puts it back into the first page of results in terms of competitiveness. For quick ref the 5 year is 3.01% which is no advantage over the 4 year's 3.00% You can see all rates at https://www.tiaabank.com/banking/cd

3.05% 42M(3.5Yrs) W Bump - 12/4/2018

Min $1,500 to open ($250K maximum), and it's IRA eligible Currently earns a minimum 3.05% APY,¹ with the option to bump up once if their rates go up TIAA will not provide any notice to you when our interest rates change but our current rates are always available at TIAABank.com/banking/rates. If at any time during the term of you want to exercise the Rate Increase Option, call them during normal business hours at 888-882-3837

View all posts from:


Excellent Experience.

Posted by: murr9506 | Feb 13, 2019

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.

Uh Oh...Warning Signs

Posted by: alanbones | Jul 13, 2019

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.

Seems To Be Deteriorating Since The TIAA Take Over

I have been an online customer of EverBank for a long time, and loved it.

I am concerned about some changes that are being imposed by TIAA. Apparently the External Transfer process is being brought in-house.


For the last week or so, Scheduled External Transfers are no longer visible on the checking account Banking | Account Activity | Show scheduled transactions - page (cibng.ibanking-services.com/cib/CEBMainServlet/AccountActivity).

Being able to see scheduled payments and transfers on the same page and their projected impact upon the balance, is the reason I have been so loyal to EverBank.

Customer Service advises 'they are working on it'

Since TIAA-EverBank had become the 'dashboard' for all of our financial activities, this may become a deal-breaker.

To add insult to injury, the institutions involved in the transfers are also not being identified in the Account Activity page. for the last week it just reports an external transaction with the amount.

Because EverBank had been so good for so long, I am hoping TIAA will either make the new process work with the established report system, or go back to using the old outside external transactions provider until the IT department is able to make changes without ruining the customer experience.

Bank Has Really Declined Since TIAA Bought It

Posted by: katlian | Jan 4, 2019

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.

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Health

Health Grade Components

Overall
FDIC Certificate #34775
Year Established1998
Employees2856
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.42%
Return on Equity - YTD4.03%
Annual Interest Income$368.8MM
Assets and Liabilities
AssetsQ1 2019vs Q1 2018$38.03B$33.94B
LoansQ1 2019vs Q1 2018$31.64B$28.52B
DepositsQ1 2019vs Q1 2018$24.25B$23.11B
Equity CapitalQ1 2019vs Q1 2018$3.88B$3.72B
Loan Loss AllowanceQ1 2019vs Q1 2018$149.3MM$145.8MM
Unbacked Noncurrent LoansQ1 2019vs Q1 2018$198.6MM$99.9MM
Real Estate OwnedQ1 2019vs Q1 2018$29.6MM$50.5MM
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
1.10%--Basic Savings
1.10%--Basic Savings IRA

TIAA Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.15%*-$250kYield Pledge Money Market - 1st Year Intro Rate
OTHER TIERS: 2.00% $250k - $10m
2.00%*$100k*$10mYield Pledge Money Market - Ongoing Rates
OTHER TIERS: 1.10% Up to $10k | 1.20% $10k - $25k | 1.65% $25k - $50k | 1.75% $50k - $100k
1.75%$100k-Business Money Market Special - 1st Year Intro Rate (New Money)
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
1.75%*$250k*$10mSmall Business Checking - 1st Year Intro Rate
OTHER TIERS: 0.55% $50k - $250k
1.21%*$50k*$250kYield Pledge Checking - 1st Year Intro Rate
OTHER TIERS: 0.72% $250k - $10m
0.75%*$1m*-Business Interest Checking
OTHER TIERS: 0.20% Up to $10k | 0.46% $10k - $100k | 0.61% $100k - $1m
0.71%*$100k*$10mYield Pledge Checking - Ongoing Rates
OTHER TIERS: 0.25% Up to $10k | 0.46% $10k - $25k | 0.61% $25k - $100k
0.61%*$100k*$10mSmall Business Checking - Ongoing Rates
OTHER TIERS: 0.20% Up to $10k | 0.36% $10k - $25k | 0.41% $25k - $50k | 0.51% $50k - $100k
0.61%*$100k*-Non-Profit Checking
OTHER TIERS: 0.20% Up to $10k | 0.36% $10k - $25k | 0.41% $25k - $50k | 0.51% $50k - $100k

TIAA Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.70%$5k$1m5 Year Yield Pledge CD
2.70%$1.5k$100kBusiness 5 Year CD
2.65%$5k$1m4 Year Yield Pledge CD
2.65%$1.5k$100kBusiness 4 Year CD
2.60%$5k$1m3 Year Yield Pledge CD
2.60%$1.5k$250k3.5 Year Bump Rate CD
2.60%$1.5k$100kBusiness 3 Year CD
2.55%$5k$1m2 Year Yield Pledge CD
2.55%$5k$1m2.5 Year Yield Pledge CD
2.55%$1.5k$100kBusiness 2 Year CD
2.55%$1.5k$100kBusiness 2.5 Year CD
2.50%$5k$1m1 Year Yield Pledge CD
2.50%$5k$1m1.5 Year Yield Pledge CD
2.47%$5k$1m9 Month Yield Pledge CD
2.45%$1k-5 Year CD
2.45%$5k$1m6 Month Yield Pledge CD
2.45%$1.5k$100kBusiness 1.5 Year CD
2.40%$1k-4 Year CD
2.40%$1.5k$100kBusiness 1 Year CD
2.35%$1k-3 Year CD
2.30%$1k-2 Year CD
2.30%$1k-2.5 Year CD
2.25%$1k-1 Year CD
2.25%$1k-1.5 Year CD
2.22%$1k-9 Month CD
2.20%$1k-6 Month CD
2.20%$1.5k$100kBusiness 9 Month CD
2.18%$10k$12.5m6 Month CDARS
2.17%$10k$12.5m1 Year CDARS
2.15%$5k$1m3 Month Yield Pledge CD
2.10%$10k$2.5m2 Year CDARS
2.10%$10k$2.5mBusiness 2 Year CDARS
2.07%$10k$12.5mBusiness 1 Year CDARS
2.05%$1.5k$100kBusiness 6 Month CD
2.02%$10k$1m3 Year CDARS
2.02%$10k$1mBusiness 3 Year CDARS
1.91%$10k$12.5m3 Month CDARS
1.90%$1k-3 Month CD
1.85%$1.5k$100kBusiness 3 Month CD
1.78%$10k$12.5mBusiness 6 Month CDARS
1.61%$10k$12.5mBusiness 3 Month CDARS

TIAA Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.70%$5k-5 Year Yield Pledge IRA
2.65%$5k-4 Year Yield Pledge IRA
2.60%$5k-3 Year Yield Pledge IRA
2.60%$1.5k$250k3.5 Year Bump Rate IRA
2.55%$5k-2 Year Yield Pledge IRA
2.55%$5k-2.5 Year Yield Pledge IRA
2.50%$5k-1 Year Yield Pledge IRA
2.50%$5k-1.5 Year Yield Pledge IRA
2.47%$5k-9 Month Yield Pledge IRA
2.45%$5k-6 Month Yield Pledge IRA
2.45%$1k-5 Year IRA
2.40%$1k-4 Year IRA
2.35%$1k-3 Year IRA
2.30%$1k-2 Year IRA
2.30%$1k-2.5 Year IRA
2.25%$1k-1 Year IRA
2.25%$1k-1.5 Year IRA
2.22%$1k-9 Month IRA
2.20%$1k-6 Month IRA
2.15%$5k-3 Month Yield Pledge IRA
1.90%$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.