Deposits held and insured by City National Bank (FL)

Overview / Commentary
25 West Flagler Street
Miami, FL 33101
Deposits held and insured by City National Bank (FL)

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Rate Drop At Total Direct Now At 1.30% APY - 5/14/2020

From 1.55% to 1.30% APY

Totaldirectbank 1.55% APY MM $2,500 minium [Not On DA MM List] - 4/23/2020 $2,500 minimum deposit is required to open an account and earn the advertised APY. -No interest will be earned if the balance falls below the Minimum Daily Collected Balance -No transactions allowed by debit/credit card or by check -No maintenance fee(s) -Money market deposit accounts are compounded and credited monthly -If you close your account before interest is credited, you will not receive the accrued interest. Disclosures & Schedule of Fees Dormant Account Fee (monthly fee) $20.00 Temporary Accounts (Accounts Closed within 6 months of opening) $25.00

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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.

I Got Lucky...Finally

I had a CD with discover and they kept giving me the runaround. When I tried to pull the CD the customer service dept. told me that they would give me a better rate to keep it. I agreed and guess what? MY RATE NEVER CHANGED! My CD wasn't even showing on my online banking acct. CONVENIENTLY, as soon as the renewal window for the CD was over, it was showing again on my dashboard. I expected better from a HUGE bank ranked highest in client satisfaction by JD Power!!! SOOO, I was FINALLY able to pull my money and took a gamble on Total Direct Bank based on the reviews and so far I have to say I am content. MUCH BETTER RATE ANYWAY! I may have to call in but I am fine with it so long as I get what I want. Just my opinion. Good luck.

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.

Terrible Service

I had one of the worst experiences I've ever had in receiving funds after the maturity of a CD. (I've had more than 200 CDs, so I know a fair amount about them.)

My CD matured on a Saturday. On Friday, the day before maturity, I got a phone call from TotalDirect confirming I wanted to redeem the CD (this followed my sending them an email to that effect). I was promised the funds would be sent to me on Monday.

On the following Tuesday, I received an email from TotalDirect saying they had closed the account that day, and I got an email from UPS saying I would have the check on the following Thursday.

On Thursday, I called TotalDirect, and they said UPS didn't pick up the check. I made a big deal out of it, and I received the check, without extra interest, on the following Monday, NINE DAYS after the account matured.

I've never had such a hard time receiving funds, and there were other details that led me to believe TotalDirect didn't mind wasting my time while providing poor service.

I will never do business with TotalDirect again.



Data as of Q4 2020

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 - YTD0.65%
Return on Equity - YTD5.58%
Annual Interest Income$556.6MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$18.62B$15.84B
LoansQ4 2020vs Q4 2019$12.32B$10.92B
DepositsQ4 2020vs Q4 2019$14.96B$11.85B
Equity CapitalQ4 2020vs Q4 2019$2.05B$1.89B
Loan Loss AllowanceQ4 2020vs Q4 2019$137.2MM$49.0MM
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$83.3MM$47.4MM
Real Estate OwnedQ4 2020vs Q4 2019$796.00K$209.00K
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TotalDirectBank Money Market Rates

0.50%$2.5k$500kDirect Money Market Deposit Account

TotalDirectBank CD Rates

0.50%$25k$500k12 Month CD
0.50%$25k$500k24 Month CD
0.50%$25k$500k36 Month CD
0.50%$25k$500k60 Month CD
0.50%$25k$500k3 Month CD
0.50%$25k$500k6 Month CD

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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