Written by Dori Zinn | Edited by Ali Cybulski | Updated on 05/12/2025
TotalBank is an online-only division of Miami-based City National Bank of Florida. The bank offers high-yield certificates of deposit (CDs), money market accounts and several home loan options. Products are available nationwide except in Florida and the U.S. territories.
- CDs: TotalBank provides a selection of five CD terms — fewer options than other online-only banks. Choose from fixed-rate terms of six, 12, 24, 36 or 60 months. Annual percentage yields (APYs) are competitive, as expected for online-only high-yield CDs. But any TotalBank CD requires at least $25,000 to open and to receive the advertised APY. Many competitors don’t have such a steep requirement. Savers will not find special bump-up or no-penalty CD choices.
- Money market accounts: As with CDs, money market accounts need a minimum opening deposit of $25,000. Maintain a minimum balance of $2,500 to earn the advertised APY; the maximum balance permitted per client is $1 million. No maintenance fees apply to money market accounts.
All money market and CD deposits are protected by the Federal Deposit Insurance Corp. (FDIC) up to $250,000, which is the standard coverage limit.
Customer service: Reach live help at 888-682-2881 from 8:30 a.m. to 5 p.m. Eastern time Monday through Friday. You can also message the bank online using the form found at the Contact Us tab.
Pros and cons of TotalBank
PROS
• Offers competitive APYs on money market accounts and CDs
• Provides simple and quick processes to open accounts online
• Charges no maintenance fees on money market account
CONS
• Requires steep minimum deposit to open a money market account or CD
• Limits CD term options compared with other online banks
• Operates no branches as online-only bank
Puzzling That It Omits Florida From The Special!
Many banks limit their specials to the geographic area they are located in. Total Bank EXCLUDES their home area. Doesn't make any sense??? Puzzled in Fla!
Telephone Wait Times Are Terrible
Total Direct raised their Money Market rates to the highest in the nation on 8-26-22 and management had no conception of the chaos that would ensue. I tried to reach them over the phone on 3 different days and hold times have exceed one hour, with still no one with whom to talk.
Online Security Authentication Doesn't Work
Drivers License nonsense with live picture turn left turn right doesn't work. They claim they can't get around it. So six figures of money they did not get. Stupid.
6-Month CD - Interest Rate Of 5.601%
For your 6-Month CD, we are currently offering an interest rate of 5.601% with an annual percentage yield of 5.76%.
Data as of Q1 2025
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 20234 |
| Year Established | 1970 |
| Employees | 1012 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.82% |
| Return on Equity - YTD | 8.6% |
| Annual Interest Income | $333.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2025vs Q1 2024 | $27.18B$26.13B |
| Loans | Q1 2025vs Q1 2024 | $18.75B$17.32B |
| Deposits | Q1 2025vs Q1 2024 | $21.97B$21.06B |
| Equity Capital | Q1 2025vs Q1 2024 | $2.62B$2.38B |
| Loan Loss Allowance | Q1 2025vs Q1 2024 | $198.6MM$139.3MM |
| Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $125.6MM$116.6MM |
| Real Estate Owned | Q1 2025vs Q1 2024 | $15.2MM$0 |