Deposits held and insured by City National Bank (FL)

Overview / Commentary
Miami, FL 33152-4470
Deposits held and insured by City National Bank (FL)

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Totaldirectbank MM Increased To 2.00% APY - 8/14/2022

TotalDirectBank Money Market rate is now 2.00% APY. $2,500 minimum required to open and keep to earn the rate. The maximum balance amount allowed is $500,000. TotalDirectBank is a trademark of City National Bank of Florida. Unlimited deposits but only 6 withdrawals allowed per month. From their site: "Please note: TotalDirectBank can conduct business anywhere in the US with the exception of Florida, Puerto Rico, American Samoa, Guam, Northern Mariana Islands and US Virgin Islands."

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Smooth Sailing During Initial Process

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Just opened an account after doing some major research because I had not heard of them before. I am an elderly person looking for a solid account with my wife as joint and need to ensure my money is safe!! They are indeed FDIC insured by a parent company, City National Bank of Florida. I called and asked some questions about their deposit and withdrawal policy. The rep was clear and provided the answers that I needed. Setting up an account online was, in my opinion, straightforward and very similar to other banks I've used in the past. I've had terrible situations with bank's that I've had no prior experience with. A big red flag for me is a customer rep that seems annoyed at my questions! We will see how things go with Total Direct Bank as I continue my relationship with them. So far they have the second best CD rate on the list and I felt they are doing a good job of presenting themselves. I will update my comment if my experience later on changes from my initial one.

Great Newcomer To Direct Bank Market

TotalDirectBank is a welcome addition to the direct banking landscape.

They have come a long way over the last year since their launch! I opened an eCD back then and the process has improved a lot. The new eMM product and application process were great. Love the #1 rate.

I also appreciate that it’s very easy to call them and talk to a real human being!

Too Frustrating To Use

There is hardly anything you can do to manage your account online. You have to call (and wait) to get any info or make any changes. You cannot transfer out of this account to another bank. You cannot specify a limit to how they can use your private information in sharing with others--you have to write the bank and send that request via US mail! I am closing my sizable account. (That's the only way I can get my money out). I would not recommend this bank. The hassle more than from any other bank I have ever used.

Easy To Apply

Posted by: |

I was able to apply with my iphone which was great. The technology was very user-friendly and easy to complete in about 3 minutes and I especially liked the fact that I received an instant approval. It's good to see that banks like Total Direct Bank care about the user experience. I will definitely recommend my family and friends to open accounts here.



Data as of Q1 2022

Data displayed below is for insuring bank: City National Bank (FL)
Learn why bank health matters

Health Grade Components

FDIC Certificate #20234
Year Established1970
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.16%
Return on Equity - YTD11.89%
Annual Interest Income$153.7MM
Assets and Liabilities
AssetsQ1 2022vs Q1 2021$22.10B$19.74B
LoansQ1 2022vs Q1 2021$14.04B$12.47B
DepositsQ1 2022vs Q1 2021$18.81B$16.26B
Equity CapitalQ1 2022vs Q1 2021$2.09B$2.04B
Loan Loss AllowanceQ1 2022vs Q1 2021$137.8MM$138.1MM
Unbacked Noncurrent LoansQ1 2022vs Q1 2021$62.0MM$94.5MM
Real Estate OwnedQ1 2022vs Q1 2021$1.2MM$5.9MM

Rates for TotalDirectBank are currently being reviewed.


TotalDirectBank is an Internet only bank and does not have branch locations. Its headquarters is located at 524470 - Miami, FL 33152-4470

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.