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TotalDirectBank


Overview / Commentary
888-682-2881
25 West Flagler Street
Miami, FL 33101

Related Posts

Totaldirect 12 Month CD Up To 2.82%! - 2/11/2019

12-month term CD is now at 2.82%. Minimum $25,000 required to open an account and earn the advertised APY.

Rate Drop On 12 Month CD - 1/24/2019

I noticed Total Direct Bank's 12 month CD rate dropped from 2.91% to 2.69%.

Totaldirect 12 Month CD Up To 2.91%! - 1/10/2019

12-month term CD is now at 2.91%. Minimum $25,000 required to open an account and earn the advertised APY.

Reviews (5)

Great Service And Easy Application Process

Posted by: marbal85 | Mar 1, 2019

I recently opened an account with Total Direct after seeing a better rate than what my current bank was offering me. the overall process of opening an account was simple and I was able to link my other account to the new CD. here are is what I like and didn't like:

What I didn't like:
* I did not receive an email confirmation fright away, I wasn't sure if my application was submitted I had to all customer service for them to confirm that they did receive my application.
* I received email confirmation the next day, and asked me to enroll in online banking.

What I like:
* The entire applications was online, there was no need to sign anything.
* Excellent customer service. I called customer service a few times throughout the process to ask a few questions and they were very helpful, and friendly.
* I like that I didn't need to manually enter my routing number and account number. I was able to link my account in easily.


Overall I was happy with the experience, there are improvements that can be made, but will definitely consider Total Direct again.

Good Service With Some Changes Needed

Posted by: tdl | Jan 18, 2019

I got some glitches with the application, perhaps because I was one of the first few, but all got promptly addressed.

Positives:
- Good rate
- Good look and feel website
- Application all done online. NO paper signature card to mail in!!!
- Great customer rep experience - no wait time and responsive to questions/concerns.

Need improvements:
- No immediate email confirmation after application submission.
- A while later received notification to login to another site to complete and send back the document. This was very confusing. It was a read-only version of the filled-out application and nothing to do. Should just request to review and if any wrong info, contact bank.
- While waiting for application to be processed, user can still access the application. There is no clear status shown whether it has been submitted/being processed and user is allowed to go through the pages again as if to create new application (confusing) and if user clicks the ACH validation page again, it will do additional ACH withdrawal!
- After receiving notice that CD has been opened and user can now do Online Banking enrollment -- well, the enrollment did not work right away.

Requires Sharing Your Other Account Login Info? Seriously?

Posted by: ilebiz | Jul 10, 2019

While the CD rates and fees were quite competitive, I bailed out of the opening process when I learned I'd have to share my funding account login id and password with some third party in order to fund the CD via ACH transfer. Not something I'd recommend anyone do, and a red flag for me as I'd question the security sense of any bank that encourages customers to share their login information with others. Why not just verify access to the funding accounts by the common 2 small deposits rather than steal your customers' passwords?

Cds Are A Waste Of Time

Posted by: Targy | Jun 22, 2019

Have had two automatic rejections on different applications. No explanations or attempts to resolve the problems are forth coming.

Not User Friendly To Open An Account

Posted by: mike_stan | Jan 22, 2019

Wanted to open a CD but cannot ACH money to them because none of my banks are listed. Cannot believe they do online banking like this. If you want people to invest you need to make it so you can set up ACH transfer without hassles. I'm not mailing a check either.



Health
A+

Health Grade Components

Overall
FDIC Certificate #20234
Year Established1970
Employees823
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.04%
Return on Equity - YTD8.79%
Annual Interest Income$145.4MM
Assets and Liabilities
AssetsQ1 2019vs Q1 2018$14.78B$10.81B
LoansQ1 2019vs Q1 2018$10.33B$7.42B
DepositsQ1 2019vs Q1 2018$11.44B$8.25B
Equity CapitalQ1 2019vs Q1 2018$1.75B$1.07B
Loan Loss AllowanceQ1 2019vs Q1 2018$38.8MM$21.5MM
Unbacked Noncurrent LoansQ1 2019vs Q1 2018$30.7MM$27.4MM
Real Estate OwnedQ1 2019vs Q1 2018$4.2MM$225.00K
Rates
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TotalDirectBank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.60%$25k-12 Month CD
2.60%$25k-24 Month CD
2.60%$25k-36 Month CD
2.60%$25k-60 Month CD
2.20%$25k-3 Month CD
Locations

TotalDirectBank is an Internet only bank and does not have branch locations. Its headquarters is located at 25 West Flagler Street - Miami, FL 33101

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