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TAB Bank High Yield Savings account review

Earn 0.65% APY, but watch out for excessive withdrawal fees.’s rating: 3.9 / 5.0


TAB Bank’s High-Yield Savings account offers an attractive 0.65% APY, which is one of the top competitive rates on a savings account in 2020. But customer service isn’t always available and TAB’s digital offerings leave a lot to be desired.






Minimum deposit to open


Annual percentage yield (APY)0.65%
Minimum deposit to open$0
Minimum balance to earn interest$1
Interest compoundingDaily
Monthly transaction limit6
Fee per transaction over the limit$20

Review by

Kimberly Ellis is a writer at Finder. She hails from New York City with a BA from Queens College and a New York State teaching certificate. After teaching in both public and private schools, Kimberly decided to take the world by storm and dive into the media industry — where she covers everything from home loans and investing to K–12 education and shopping. She’s also an aspiring polyglot, always in a book and forever on the hunt for the perfect classic red lipstick.

Expert review

The TAB Bank High Yield Savings account is a solid option if you’re looking for a high interest rate in today’s market. You’ll earn 0.65% and won’t need to worry about an opening deposit requirement.

But because TAB is primarily tailored for truck drivers and workers in the transportation industry, the APY and $0 opening deposit might be the only appeal for those outside the industry. For instance, truck drivers get additional deposit options if they receive checks from certain trucking payroll companies and frequent Pilot Flying J truck stops.

How do I open a TAB Bank High Yield Savings account?

Apply for a high-yield savings account with TAB Bank in just six steps:

  1. Go to the provider’s site and follow the steps to apply.
  2. From TAB Bank’s website, select Personal then High-Yield Savings from the navigation menu.
  3. Select Open Now, then select Open Now again on the following page.
  4. Create a new login using a Google, Facebook or a LinkedIn account, or select Manual Entry.
  5. If you select Manual Entry, enter your name, email address, phone number, date of birth, citizenship and Social Security number.

Otherwise, skip to the next step.

  1. Enter your driver’s license details, physical address, mailing address and employment information.
  2. Review TAB Bank’s terms, read and accept the agreement, then link a funding source to make a deposit.


You need to meet the following eligibility requirements to get approved for a TAB High-Yield Savings account:

  • At least 18 years of age
  • US citizen or resident

Required information

Have the following information handy when you open your account:

  • Valid Social Security number
  • Driver’s license or state-issued ID

What are the benefits of a TAB Bank High Yield Savings account?

TAB Bank’s savings account has no monthly fee, compounds interest daily and comes with the following perks:

  • No opening deposit. There are no minimum opening deposit requirements, and you can start earning interest with as little as $1.
  • High APY. With an interest rate of 0.65%, TAB offers one of the most competitive APYs in today’s market.
  • Perks for truckers. TAB Bank has long-standing ties with the transportation industry. Truck drivers, in particular, can benefit from the unique funding options, such as deposits from Pilot Flying J gift cards and third-party checks from certain trucking payroll companies.

What should I look out for?

Although TAB Bank’s high-yield savings accounts have a lot to offer, there are also some serious drawbacks:

  • Limited customer service. Customer service is available on weekdays from 6 a.m. to 7 p.m. MT or on Saturdays from 9 a.m. to 3 p.m. Although there’s also a chat option on the website, it’s a virtual chat assistant.
  • Fees. TAB charges a few fees, but two worth noting are $15 for cashier’s checks and $20 for excessive withdrawals. For reference, most banks charge up to $10 on cashier’s checks and excessive withdrawals.
  • Account closure fee. If you decide to close your account, there is a $10 fee.

If you want a savings account with fewer fees and more customer service options, you’ll want to keep looking. As always, compare your options when looking for a high-yield savings account.

Compare TAB High-Yield Savings with other savings accounts

Name Product Annual percentage yield (APY) Fee Minimum deposit to open
Aspiration Spend & Save Account
Finder Rating: 4.2 / 5: ★★★★★
Aspiration Spend & Save Account
$0 per month or $7.99 per month for Aspiration Plus ($5.99 per month if you pay annually)
Deposits are fossil fuel-free. A spend and save combo account with unlimited cash back rewards and deposits insured by the FDIC and a $100 bonus when you spend $1,000 in your first 60 days.
Quontic Bank High Yield Savings
Finder Rating: 4.6 / 5: ★★★★★
Quontic Bank High Yield Savings
Interest is compounded daily. No monthly service fees. Competitive rates
Axos Bank High Yield Savings
Finder Rating: 4 / 5: ★★★★★
Axos Bank High Yield Savings
No monthly maintenance fees. No minimum balance requirements. Interest compounded daily.
American Express® High Yield Savings
Finder Rating: 4.6 / 5: ★★★★★
American Express® High Yield Savings
Enjoy no monthly fees and a competitive APY with this online-only savings account. Accounts offered by American Express National Bank, Member FDIC.
Gemini Earn
Gemini Earn
Up to 8.05%
Watch your cryptocurrency earn up to 8.05% APY with this nationwide account. Not FDIC insured.

Compare up to 4 providers

How do I deposit or withdraw my money?

There are several ways to fund your TAB Bank High Yield Savings account, but relatively few ways to withdraw money.

Funding options

  • Direct deposit. Your employer can deposit funds directly into your account.
  • Mobile deposit. The TAB Bank app lets you use your smartphone’s camera to deposit checks.
  • Wire transfer. Initiate a same-day wire transfer from an external account, usually for a fee.
  • Automated clearing house (ACH) transfer. You can transfer money into your account from another bank for free, but the transfer usually takes two days.
  • Third-party checks. If you receive paper checks from one of the trucking industry’s major payroll companies (ComCheck, T-Check, EFS Check, etc.), you can deposit the funds by calling 800-355-3063.
  • Pilot Flying J gift card. If you frequent Pilot Flying J truck stops, you can purchase a gift card for up to $1,000 and deposit those funds into your account by calling 800-355-3063.
  • Green Dot MoneyPak. Purchase a Green Dot MoneyPak from a participating retailer and deposit funds into your account at
  • Western Union. Deposit funds into your account by visiting any Western Union location.
  • Mail a check. Deposit a check via the mail by using a TAB Bank deposit slip.

Withdraw options

  • Wire transfer. Wire money to an external account, but there’s a $30 fee.
  • ACH transfer. Transfer funds to another bank, but it takes two days.
  • TAB checking account. Open a TAB checking account and withdraw money using an ATM card, but TAB doesn’t partner with any ATM networks, so you’ll always pay a fee.

What other savings options does TAB Bank offer?

Aside from its high-yield savings account, TAB Bank has a few other options as far as saving is concerned:

  • Premium Savings. Earn 0.25% APY — a lower rate than TAB’s high-yield account. You also need a minimum deposit of $25 to open, but there are no fees.
  • Simple Business Savings. Similar to TAB’s Premium Savings account, this no-frills business savings account earns 0.25% APY on any balance of $1 or more.
  • Money Market. When you sign up for this money market account (MMA), TAB invests your funds in low-risk and short-term securities that deliver a 0.25% APY, but there are limits regarding how many transactions you can make each billing cycle.
  • Tab Bank Business Money Market. TAB’s MMA for businesses also earns 0.25% APY and has the same transaction limits as the personal MMA.
  • Certificate of Deposit (CD). A CD with TAB Bank requires a minimum $1,000 opening deposit, but you could earn up to 0.75% depending on the term length that you choose.

Frequently asked questions

Savings account ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top savings accounts and rate them one to five stars based on factors that are most important to you. These factors include: interest rates, monthly fees, minimum deposits, customer service and account features.

Read the full methodology of how we rate savings accounts.

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