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Transportation Alliance Bank Review 2022

Updated December 2, 2022
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At a glance

4.7
Rating: 4.7 stars out of 5
Bankrate Score
Caret Down

CDs

Rating: 4.7 stars out of 5

Checking

Rating: 4.7 stars out of 5

Savings

Rating: 5 stars out of 5

MMA

Rating: 3.9 stars out of 5

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Overview

Transportation Alliance Bank has roots in the trucking sector but has expanded to serve individual consumers.

Highlights

  • Reward Checking
Compare offers
Bank logo
Member FDIC
Savings Account
3.00
%
APY
Rating: 4.7 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
3.85
%
APY
Rating: 4.7 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
3.75
%
APY
Rating: 4.7 stars out of 5
$0
Min. balance for APY
View offer Arrow Right

Overall

Transportation Alliance Bank is mostly an online bank that offers deposit accounts for individuals and businesses, as well as commercial loans.

Pros

  • Checkmark

    Deposit accounts pay higher yields than many other banks.

  • Checkmark

    Its mobile app is highly rated.

  • Checkmark

    Minimum deposit requirements are low.

Cons

  • TAB has only one physical location.

  • TAB has no ATM network; customers use other banks’ ATMs.

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

Transportation Alliance Bank bank products

5.0
Rating: 5 stars out of 5
Bankrate Score

Transportation Alliance 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 only requires a daily balance of $1 and doesn’t require a minimum opening deposit. A minimum deposit isn’t required to open a high-yield savings account.

Pros

  • Checkmark

    The high-yield savings account pays a competitive APY, has no monthly maintenance fee and requires only $1 daily balance to earn the yield.

  • Checkmark

    No minimum deposit is required to open a high-yield savings account.

Cons

  • A $5 monthly fee is charged for paper statements.

  • Yields at some online-only banks are higher.

Compare Offer
Bank logo
Member FDIC
Savings Account
3.00
%
APY
Rating: 4.7 stars out of 5
InfoHover for more
$0
Min balance for APY

Bank experience

TAB Bank is best suited for consumers who are comfortable with online and mobile banking. Its mobile app allows users to deposit money, pay bills, send money to friends or family and get account alerts. The app receives high ratings by Apple iOS users, though those utilizing the Android operating system are less enthusiastic.

About Transportation Alliance 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. Its mobile app is highly rated by Apple and Android users.

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.