TAB Bank Review: Competitive APYs With Low Minimum Opening Deposits
Written by
Rudri Patel
Edited by
Elizabeth Constantineau
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TAB Bank offers checking and savings account options with competitive APYs, as well as CDs.
Whether you're interested in earning top APYs on a savings account, taking advantage of cash-back rewards with a checking account or securing a solid return with a CD, Tab Bank provides various options. In GOBankingRates' Best Banks rankings for 2025, TAB Bank's offerings ranked among the Best Online Banks. Here's everything you need to know.
Founded in 1998, TAB Bank began with a niche focus on providing banking services for the trucking industry but has since expanded to offer a full range of personal banking products. Today, TAB serves individuals, families and businesses through its fully online platform, ensuring customers can manage their finances with convenience and flexibility.
TAB Bank Checking Accounts
TAB Bank has two checking options — one allowing you to earn rewards.
- The Tab Spend account has no minimum deposit to open. Also, you won’t have to worry about minimum account balances or monthly maintenance fees.
- With Tab Spend, you’ll be eligible to start earning rewards in your first monthly cycle.
- TAB Bank recognizes that truckers have unique needs when depositing payments, such as Comdata checks, T-Cheks or EFS checks; its Chrome Checking account is the perfect pick for such individuals.Â
- With Tab Spend, you can earn APY and 1.00% cash back on debit card transactions.
- Chrome Checking requires a $25 minimum to open.
- Earn APY with the Chrome Checking account.
- $8 monthly fee on Chrome Checking that is waivable.
Best For
Online Banks
Mobile App
Great APYs
Low Monthly Fees
Low Minimum Deposit
Cash Back and High APYs
TAB Bank offers two checking accounts designed for different needs. With no minimum deposit and a high APY, the Tab Spend account is ideal for those looking to avoid fees and earn rewards. Chrome Checking, designed for truckers, provides easy access to funds with a low opening balance and check deposit options.
Fees
$0 to $8 a month
APY
Up to
Min Opening
$0 to $25
Pros
- Access to over 30,000 ATMs nationwide
- High APY for Tab Spend with cash-back rewards
- Chrome Checking designed for truckers
- Low monthly deposit for Chrome Checking
Cons
- No physical locations
- Potential for out-of-network ATM fees
Quick Take
TAB Bank’s checking accounts fit diverse needs. The high APY on the Tab Spend account is attractive for those who want to avoid a minimum deposit and monthly fees. Chrome Checking is designed for truckers on the move.
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TAB Bank Savings Accounts
The TAB Bank Save account requires no minimum deposit to open. It also features no minimum monthly balance requirement and no monthly maintenance fees, which means that your funds stay where they belong — in your savings account.
- No minimum deposit.
- No monthly maintenance fee.
- High APY of .
- Only need a balance of $0.01 to earn APY.
- Accounts are FDIC insured.
Best For
Online Banks
Mobile App
Great APYs
Low Monthly Fees
Low Minimum Deposit
Online and Mobile Access
The TAB Bank Save account offers a high APY with no minimum deposit and no monthly fees. Earn interest with a balance as low as $0.01 and manage your savings through online or mobile banking.
Fees
No monthly service fee
APY
Min Opening
$0
Pros
- No minimum deposit
- No monthly maintenance fee
- Need minimal balance to earn APY
- Competitive APY
Cons
- Limited physical locations
- No debit card access
- Customer support is not available 24/7
Quick Take
TAB Bank’s Save account provides a competitive APY with no minimum deposit required. If you prefer online banking, it is a good fit, but if you want debit card access and physical locations, you may want to look at another bank.
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TAB Bank CD Accounts
TAB Bank has multiple CD options, with terms ranging from 12 to 60 months. The minimum deposit for CDs is $1,000.Â
- APYs range from to .
- Minimum deposit of $1,000 required.
- Accounts are FDIC insured.
- Interest compounds daily and is credited monthly.
- CDs automatically renew.
- Varying terms from one year to five years.
Best For
Online Banks
Mobile App
Great APYs
Low Monthly Fees
Low Minimum Deposit
Daily Compounding APY
TAB Bank’s CD accounts offer competitive APYs ranging from to . With terms from 12 months to 5 years, a minimum deposit of $1,000 and daily interest compounding, these accounts provide flexible savings options.
Fees
Early withdrawal penalties may apply
APY
Up to
Min Opening
$1,000
Pros
- High APYs
- The minimum deposit is manageable
- Variety of CD term lengthsÂ
Cons
- No physical locations
- No CD term less than 12 months
- Early withdrawal penaltiesÂ
Quick Take
TAB Bank offers varying-length terms and competitive APYs. It also offers options to transfer interest to another account, receive a check or reinvest in the CD to provide versatility in managing interest income.
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TAB Bank Money Market Accounts
While TAB Bank only offers one money market account, it has a low minimum opening deposit of just $25. There are no monthly service fees and the minimum balance to earn interest is just 1 cent.
- Low $25 minimum deposit.Â
- No monthly maintenance fees.
- Online mobile and banking access.
- Account has an APY of .
- Money market account is FDIC insured.
Best For
Online Banks
Mobile App
Great APYs
Low Monthly Fees
Low Minimum Deposit
Low Deposit and No Fees
TAB Bank’s money market account offers a low minimum deposit of $25 and no monthly maintenance fees. While the APY is modest at , the account provides easy access and flexibility with check-writing privileges.
Fees
No monthly service fee
APY
Min Opening
$25
Pros
- Low minimum deposit
- No monthly maintenance fees
- Can write checksÂ
- Need to maintain only a $0.01 balance to earn interest
Cons
- Low APY
- No debit card access
- Limited branch access
Quick Take
TAB Bank’s money market account is a low-cost saving option that only requires a minimum deposit of $25. However, other competitors will likely offer a better APY and the option to have a debit card with the account.
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Banking Experience
TAB Bank is an online-only bank, so you won’t be able to visit a branch in person. However, you can reach TAB Bank at 800-355-3063 six days per week. Customer service hours of operation are 6 a.m. to 7 p.m. MT, Monday-Friday, and 9 a.m. to 3 p.m. MT on Saturday. You can also reach the bank through a secure online message by filling out the contact form on its website.Â
If you’re interested in opening a new account, you can reach TAB Bank’s New Accounts Team at 800-215-7128 from 8 a.m. to 5 p.m. MT, Monday-Friday.
TAB Bank offers a solid mobile experience, which is important because it is an online-only bank. The app allows you to complete banking tasks like checking balances, transferring money between accounts, paying bills and submitting mobile deposits.Â
The app is available for both Android and iOS users, and it has a rating of 4.7 stars on the App Store and 4.3 stars on Google Play.
Comparable Banks
Now that you know more about TAB Bank’s products and services, here’s how it stacks up to its competitors.Â
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
No monthly service fee
$0
$5 monthly fee with paper statements
APY
APY
APY
Min Opening
Min Opening
Min Opening
$0
$0
$100
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
Early withdrawal penalties may apply
No monthly service fee
Early withdrawal penalty may apply
APY
APY
APY
Up to
Up to
Up to
Min Opening
Min Opening
Min Opening
$1,000
$0
$500
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
No monthly service fee
$0
$5 monthly fee with paper statements
APY
APY
APY
Min Opening
Min Opening
Min Opening
$25
$0
$100
TAB Bank vs. Axos Bank
Axos Bank offers up to APY on its high-interest checking account, surpassing TAB Bank’s checking rates. However, when it comes to CDs, TAB Bank outshines Axos, offering up to APY.
TAB Bank vs. Ally Bank
Ally Bank offers account holders the convenience of Zelle to transfer money, while TAB Bank does not. Ally Bank’s money market account offers a APY, which is higher than TAB Bank’s APY. However, TAB Bank’s savings account offers a APY, giving it the edge over Ally Bank’s savings account, which offers a APY.
TAB Bank vs. Vio Bank
Vio Bank and TAB Bank are both online banking institutions. Vio Bank offers a high-yield savings account, a money market account and a range of CD options. However, it doesn’t have a checking account option or ATM access. For those who want to house their checking and savings accounts in one place, TAB Bank may be the better choice.
Final TakeÂ
TAB Bank offers competitive rates on its deposit accounts, plus a lack of fees for most of its accounts and easy options for avoiding fees on accounts that have them. This bank is worth considering if you’re looking for an online-only bank with a solid mobile experience.Â
TAB Bank FAQ
Here are answers to some of the more commonly asked questions about TAB Bank.- Does Tab Bank have fees?
- Most of TAB Bank's accounts do not have a monthly maintenance fee. One exception is the Chrome Checking account which has a monthly maintenance fee of $8, but it can be waived. TAB Bank does have a fee for out-of-network ATMs, stop payments, paper statements and cashier checks.
- Is TAB Bank FDIC insured?
- Your funds at TAB Bank are FDIC insured for $250,000 per depositor per category.
- What is the transfer limit for TAB Bank?
- Outgoing ACH transfers are limited to $3,000 per day.
- What services does TAB Bank offer?
- TAB Bank offers a full suite of financial products, including checking, savings and money market accounts. CDs and business lending are also available.
Daria Uhlig and Cynthia Measom contributed to the reporting for this article.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 12, 2024.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
To determine the Best Online Banks of 2025, GOBankingRates looked at the following factors across exclusively online banks: (1) total assets as sourced from the FDIC; (2) monthly checking fee ratio (percent the minimum to avoid fee compared to the monthly fee itself); (3) savings APY; (4) 1-year CD APY; (5) Bauer rating (out of 5 stars); (6) products/services offered (auto loans, mortgage loans, credit cards, investment services, and insurance); and (7) the average mobile app rating between the Google Play (Android) and Apple stores. Factors (1) and (2) were weighed 0.5 times, and factors (3) and (7) were weighed 2 times. For all savings and checking account data, only the basic accounts or products offered at each institution were analyzed. All products and offerings had to be available as of Nov. 1, 2024, to be considered. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 12, 2024.
