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TAB Bank Review 2024

Updated January 2, 2024
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At a glance

4.4
Rating: 4.4 stars out of 5
Bankrate Score
Caret Down

CDs

Rating: 4.5 stars out of 5

Checking

Rating: 4.2 stars out of 5

Savings

Rating: 4.9 stars out of 5

MMA

Rating: 3.4 stars out of 5

About Bankrate Score

Overview

Transportation Alliance Bank has roots in the trucking sector but has expanded to serve individual consumers. TAB Bank might be a good fit for truck drivers because it has a checking account — the Customer Trucker Bank Account — made for them.

Highlights

  • High APY
  • Highly Rated App
Sponsored offers
Info

These are sponsored offers rated highly by us for competitive rates, fees, and minimums.

Bank logo
Member FDIC
Savings Account
4.25
%
APY
APY
Info
As of 6/22/2024
Rating: 4.4 stars out of 5
$1
Min. balance for APY
View offer Arrow Right
Promoted offer:
Bank logo
Member FDIC.
Savings Account
5.25
%
APY
APY
Info
As of 6/22/2024
Rating: 5 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Promoted offer: No fees. Easy deposits and quick withdrawals.
Bank logo
Member FDIC
Savings Account
5.30
%
APY
APY
Info
As of 6/22/2024
Rating: 4.9 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Promoted offer: No account fees, unlimited withdrawals, better for the planet

Overall

Transportation Alliance Bank is mostly an online bank that offers deposit accounts for individuals and businesses, as well as commercial loans. Yields are high at Transportation Alliance Bank, and you don’t need a minimum deposit to open most of the accounts.

Pros

  • Checkmark

    Deposit accounts pay higher yields than many other banks.

  • Checkmark

    Its mobile app is highly rated on iOS and Android.

  • Checkmark

    Minimum deposit requirements are low.

Cons

  • TAB has only one physical location.

  • There are other online-only banks that pay higher yields on deposits.

CTA We want to know what you think about Transportation Alliance Bank

We want to know what you think about Transportation Alliance Bank

Do you have experience with Transportation Alliance Bank? Let us know your thoughts.

TAB Bank banking products

4.9
/5
Rating: 4.9 stars out of 5
See methodology Compare savings rates
SCORE BREAKDOWN
APY offering:
5.27%
Rating: 5 stars out of 5
5/5
Info
Minimum balance to earn interest:
$0.00
Rating: 5 stars out of 5
5/5
Info
Monthly service fee:
$0.00
Rating: 5 stars out of 5
5/5
Info
Minimum balance to avoid fee:
$0.00
Rating: 5 stars out of 5
5/5
Info
Access to funds:
Good
Rating: 4 stars out of 5
4/5
Info

TAB Bank savings overview

TAB Bank offers a high-yield savings account that pays a competitive APY, and has easy terms for opening and maintaining the account. The high-yield savings account doesn’t require a minimum opening deposit.

Pros

  • Checkmark

    The account pays a competitive APY, which you can start earning with as little as one cent.

Cons

  • Paper statements cost $5.

  • See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

    TAB Bank
    APY
    APY
    Info
    National average APY
    How do we get this data?
    Info
Compare Offer
Sponsored Offer
Info

This is a sponsored offer rated 4 stars or higher for competitive rate, fees, and minimums.

Bank logo
Member FDIC
Savings Account
4.25
%
APY
APY
Info
As of 6/22/2024
Rating: 4.4 stars out of 5
Info
$1
Min balance for APY
Promoted offer:

Bank fees

Fee Charged?
Overdraft fee $30
Non-sufficient funds fee $30
Monthly maintenance fee $0 – $8
Out-of-network ATM fee $2
Excessive transaction fee None

Customer experience

Customer support. TAB Bank has customer service hours from 6 a.m. to 7 p.m. Mountain time during the week and Saturday hours are from 9 a.m. to 3 p.m. These hours aren’t applicable for Federal holidays.

Digital experience. TAB Bank is best suited for consumers who are comfortable with online and mobile banking. Its mobile app is highly rated by Apple and Android users, and it allows users to deposit money, pay bills, send money to friends or family and get account alerts.

About TAB Bank

Founded in 1998, Transportation Alliance Bank, or TAB Bank, started out as a banking service located inside truck stops. It still handles the specific banking needs of truck drivers and fleet operators, but the bank’s products have expanded to also serve individual consumers. Ogden, Utah-based TAB is primarily an online bank.

How TAB Bank compares to other banks

Compare different account types offered by Transportation Alliance Bank. Annual percentage yields (APYs) shown were updated between June 15, 2024 and June 21, 2024.

Selected bank
TAB Bank savings account
TAB Bank Logo
Member FDIC
Bankrate score
Rating: 4.9 stars out of 5
4.9
Info
Most comparable
FNBO Direct savings account
FNBO Direct Logo
Member FDIC
Bankrate score
Rating: 5 stars out of 5
5.0
Info
Read review
Caret Down
Bankrate score
Info
Read review
APY
Info
5.27% 4.75%
Minimum balance for APY
$0.00 $1.00
Estimated earnings
Info
$1,318 $1,188
TAB Bank offers a high-yield savings account that pays a competitive APY, and has easy terms for opening and maintaining the account. The high-yield savings account doesn’t require a minimum opening deposit. FNBO’s Direct High Yield Online Savings Account offers a competitive yield, but the bank isn’t accepting new applications at the moment. FNBO expects to accept applications again in early 2024, according to its website. Only $1 is needed to open the account, and there’s no monthly service fee. You’ll earn interest on all balances. Interest is compounded and credited monthly.
  • The account pays a competitive APY, which you can start earning with as little as one cent
  • The Online Savings Account offers a competitive yield
  • There is no minimum balance requirement
  • The Online Savings Account doesn’t have a monthly maintenance fee
  • You start earning interest on your first penny in the account
    N/A
  • Paper statements cost $5
  • There are limits to how much you can withdraw
  • For example, you can only withdraw up to $1,000 each day via an ATM
  • The bank’s Next Day Transfer Service is limited to a transfer of up to $3,000 in a business day, $3,000 in a single transaction or $10,000 in any one month
  • The fee for an outgoing domestic wire transfer is $15
  • New applications are currently paused
    N/A
APY offering:
5.27%
5/5
Info
Minimum balance to earn interest:
$0.00
5/5
Info
Monthly service fee:
$0.00
5/5
Info
Minimum balance to avoid fee:
$0.00
5/5
Info
Access to funds:
Good
4/5
Info
APY offering:
4.75%
5/5
Info
Minimum balance to earn interest:
$1.00
5/5
Info
Monthly service fee:
$0.00
5/5
Info
Minimum balance to avoid fee:
$0.00
5/5
Info
Access to funds:
Great
5/5
Info
Info
Info
Info
Info
Info
Bankrate does not currently track additional product details for this bank.

TAB Bank vs. BrioDirect

Both TAB Bank and BrioDirect are online-only banks. BrioDirect is owned by Webster Bank and offers a wider variety of CD terms. TAB Bank generally offers higher yields on most of its CDs. Moreover, TAB Bank offers a wider range of deposit products when compared to BrioDirect, making it a better choice if you’re looking to consolidate your banking under one roof.

TAB Bank FAQs

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.