Sun. Jan 29th, 2023
TAB Bank review: Caters to truck drivers, but pays high rates on savings and CDs for everyone

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TAB Bank is an online bank.

The bottom line: TAB Bank is a good online bank for online savings and CDs. You also may like it if you’re a truck driver who wants to use a bank with products tailored to your profession.

Pros and cons


High interest rates on savings account and CDs

No monthly fees on savings accounts

Money market account with paper checks

Checking account that helps you earn stock when you use the debit card

Another checking account specifically for truckers

Online-only platformMust have TAB Certificate of Deposit to open a CDNo debit card with money market account


The TAB High-Yield Savings Account is the bank’s strongest product. It pays a solid APY, doesn’t charge monthly fees, and doesn’t require a minimum opening deposit.


With the TAB Flow account, you can earn fractional stocks in companies each time you swipe your debit card. You’ll earn a 0.50% stock reward with each eligible purchase with TAB Flow, which doesn’t charge a monthly fee. TAB Flow+ charges $5 per month, and you’ll earn a 1% stock reward with purchases. Keep in mind that to open TAB Flow or Flow+, you must also have a Bumped brokerage account.

TAB also offers a checking account specifically for truckers, TAB Chrome Checking. This account lets customers process payments for truckers with EFS and Comdata checks.


Overall, TAB pays competitive rates on CDs. But depending on which term you choose, you may be able to find higher rates at other online banks.

The bank also gives you several options for receiving your interest. You can keep it in your CD, receive a check, or transfer the interest to another TAB account.

TAB’s early withdrawal penalties are relatively low, especially for longer terms.

Money market

On the bright side, the TAB Money Market Account requires a much lower minimum opening deposit than many banks. The account also comes with paper checks, giving you easier access to your money than with a savings account.

But the rate is lower than what you’ll find with many online banks. TAB also doesn’t send you a debit card, which could be inconvenient if you would be more likely to use a debit card than paper checks.

How TAB Bank works

TAB, or Transportation Alliance Bank, was originally a banking service at truck stops. It still has products that appeal specifically to truckers, such as the checking account for truck drivers. But overall, it’s become an online bank for the general public.

TAB’s mobile app has received positive reviews, with 4.8 out of 5 stars in the Apple store, and 4.5 out of 5 stars in the Google Play store.

To contact customer support, call Monday through Friday, from 6 a.m. to 7 p.m. MT. Or call Saturdays, 9 a.m. to 3 p.m. MT. There is no customer service available on Sundays, and TAB doesn’t have a live online chat feature.

A big downside in banking with TAB is that there’s no free ATM network. When you use any ATM, TAB charges a $2 fee for a withdrawal and $1 fee for an inquiry. The ATM provider may charge a fee, too.

Your deposits are FDIC insured for $250,000, or $500,000 for joint accounts.

Is TAB trustworthy?

The Better Business Bureau gives TAB Bank an A+ rating. The BBB measures trustworthiness by looking at a company’s responses to customer complaints, honesty in advertising, and transparency about business practices.

The bank doesn’t have any public scandals. Between the strong BBB grade and clear history, you may decide you feel comfortable banking with TAB.

How TAB compares to other banks

TAB Bank review vs. Ally review

When it comes to high-yield savings accounts, TAB and Ally both come with high rates, no monthly fees, and no minimum deposits. You might like Ally’s bucket system, though, which lets you create separate “buckets” in one savings account, then label them for goals like “Emergency Fund” or “Vacation.”

You also might like Ally if you want a money market account that includes a debit card.

For CDs, your choice between TAB and Ally will likely come down to which term length you want. Depending on the term, either bank could pay the higher rate.

TAB Bank review vs. Discover review

TAB’s main advantage over Discover is its lower minimum deposits. Although Discover doesn’t have mandatory deposits for checking or savings, you’ll need at least $2,500 to open a CD or money market account. TAB requires $1,000 and $25, respectively. So if you can’t afford Discover’s minimum deposits, then TAB is the clear choice.

The Discover Cashback Debit Account pays cash back on debit card purchases, so if you use your debit card frequently, earning cash back could be the better deal. But if you want to use those debit card swipes to earn stock instead, you might like TAB Flow.

You’ll probably prefer Discover for a money market account, because its rate is higher. You could earn a higher CD rate with either bank — it just depends on which term length you choose.

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