TAB Bank review (2025): An online bank with one of the best high-yield savings accounts on the market

Yahoo

10-05-2025

Summary: TAB Bank is a Utah-based online bank that was founded in 1998 as Transportation Alliance Bank and primarily served customers in the trucking industry. It has since expanded to provide banking services to individuals, families, and businesses across the nation.
TAB Spend is a rewards checking account that offers customers the chance to earn interest on their checking account balance as well as cash back on their purchases. There is no monthly fee associated with this account. There is also no minimum opening deposit requirement, though you'll need to maintain a balance of $0.01 to earn interest.
TAB's high-yield savings account currently offers 4.26% APY with no minimum opening deposit or minimum balance required. There are also no monthly maintenance fees. This account ranks among our list of the 10 best high-yield savings accounts available today.
TAB Bank has served the trucking industry for decades, and its Chrome Checking account is designed for truck drivers and OTR operators. This account requires a minimum of $25 to open and offers 0.10% APY.
This account charges a monthly service fee of $8, which can be waived by meeting one of the following requirements:
$1,000 minimum daily balance
8 debit card purchases post to your TAB checking account during the monthly statement cycle, excluding ATM transactions
$1,200 in direct deposits per monthly statement cycle
TAB's money market account requires a minimum opening deposit of $25 and offers 0.25% APY. Interest is compounded daily and credited monthly.
TAB Bank's CDs offer rates up to 4.21% APY with a minimum opening deposit of $1,000. Terms range from one to five years, and interest is compounded daily and credited monthly. TAB Bank's CD offerings were included in our ranking of the best CDs available today.
TAB currently offers auto, home, renters, pet, life, disaster insurance, and more.
Business customers can take advantage of TAB's suite of business products and services, which include business loans, lines of credit, checking and savings accounts, money market accounts, and more.
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Here's a closer look at the fees you may be responsible for as a TAB Bank customer:
Here are some of the major pros and cons to consider before becoming a TAB Bank customer:
Pros:
Checking account earns rewards: Spend account customers can earn 1% cash back on all purchases.
Competitive rates on savings account and CDs: TAB's savings account and CDs offer more than 4% APY — well above national averages.
No monthly fees for most accounts: With the exception of the Chrome checking account, TAB Bank doesn't charge monthly maintenance fees.
Cons:
High minimum opening deposit for CDs: The minimum opening deposit for CDs is $1,000, which is higher than many comparable CDs on the market.
No physical branches: TAB Bank does not have physical branch locations for customers to visit, which could be a drawback for banking customers who prefer face-to-face service.
TAB Bank representatives can be reached via telephone at [phone] from 6 a.m. to 7 p.m. (Mountain), Monday through Friday, and 9 a.m. to 3 p.m. (Mountain) on Saturdays. Federal holidays are excluded. The bank also offers an online form you can submit to be contacted via phone or email.
TAB's mailing address is: 4185 Harrison Blvd, Ogden, UT 84403.
This bank also offers banking services via its mobile app, which is available for download on both the App Store and Google Play with a rating of 4.7 and 4.4 stars, respectively. Customers can use the app to check account balances, search transactions, transfer funds between accounts, pay bills, deposit checks, and more.
Yes, TAB Bank is an FDIC-insured bank that insures deposits to the federal maximum of $250,000 per depositor, per ownership category.
TAB Bank's routing number is 124384657.
TAB Bank was founded in 1998.