TotalDirectBank Review

How does your bank stack up?

  • Financial Rates: 4.0 Star Icon
  • Customer Service: 2.0 Star Icon
  • Website Experience: 2.5 Star Icon
  • Bank Fees: 5.0 Star Icon


  • Competitive interest rates on accounts
  • Application completely online
  • No monthly maintenance fees
  • Interest rates are not tiered


  • High opening required amounts
  • Limited accounts available
  • Not available in all 50 states
  • Application response not immediate

What You Need to Know

The interest rates for TotalDirectBank accounts offer competitive interest rates. The interest rates are much higher than typical brick-and-mortar bank rates. Their interest rates are competitive with other online accounts.

The application for TotalDirectBank accounts is entirely online. To open a money market or CD account with TotalDirectBank, visit their website. There are no branch locations. You cannot mail in your application.

There are no monthly fees for the TotalDirectBank money market account. You do not have to keep a set balance in the account to avoid a monthly fee. The money market account is free. The CD has a fee if you withdraw money before the CD matures.

Interest rates for TotalDirectBank are not tiered. Account balances over the opening required amount earn the most competitive interest rates.

Opening an account with TotalDirectBank requires a significant amount. The money market account requires $5,000 to open. The CD requires $25,000 to open. You must keep at least these amounts in the account to earn interest.

TotalDirectBank only offers a money market account and CDs. The CD terms range from 3-60 months. There are six terms available. Those include 3, 6, 12, 24, 36, and 60-month CD terms.

The TotalDirectBank accounts are not available in all 50 states. If you live in California, Florida, or Puerto Rico, you cannot apply for an account. You could be eligible if you live in other states across the United States.

Opening a money market account or CD with TotalDirectBank is entirely online. When you apply for an account, you receive an approval within two business days. You then must fund your account within 30 days. If you fail to fund it by then, the account could close.

Digital or Mobile Banking

TotalDirectBank does not offer an app yet. They are working to introduce an app in 2020. Through their website, you can:

  • Check account balances
  • Transfer money
  • Set up account alerts
  • Contact customer service


TotalDirectBank is an online division of City National Bank of Florida. City National Bank of Florida started in 1926 in Miami, Florida. They have over $15 billion in assets.

TotalDirectBank offers an online money market account and CDs. You can apply for the accounts online. Account access is also online. You can apply to an account if you live in the United States, except for residents in Florida and California.

Awards and Recognition

  • Bauer Financial 5-Star Superior Rating

List of Common Bank Fees

  • ATM fees in the United States: No ATM cards offered
  • ATM fees internationally: No ATM cards offered
  • Bill pay: Not offered
  • CD early withdrawal fees: One-six months of interest
  • Excessive withdrawal fees: $10 per withdrawal
  • Monthly service fees: $0
  • Overdraft service fees: $25
  • Paper bank statements: Not specified
  • Wire transfers (Domestic): Not specified
  • Wire transfers (International): Not specified

Frequently Asked Questions

Are all the accounts FDIC insured?

Yes. TotalDirectBank is FDIC insured. The FDIC is an agency of the United States government. They protect funds deposited in banks, up to $250,000 per customer, per bank. The money is backed by the full faith and credit of the United States government.

How do I access my money?

The easiest way is through electronic transfers. When you open a money market account, you can link an external bank account.

Can I deposit cash?

No. You can make deposits through online transfers or by mailing in a check. To make electronic transfers, you need to link an external account.

How long do transfers take?

The TotalDirectBank website does not list specific transfer times.

Can I sign up for direct deposit?

If you link an external account, you can make electronic transfers. You can set up automatic transfers into your MMA from your external account. You can only add money to the money market account. You cannot add money to the CDs until after your CD reaches maturity.

Are ATM transactions free?

TotalDirectBank does not offer an ATM card.

Are ATM transaction fees reimbursed?

TotalDirectBank does not offer an ATM card for its money market account.

Is mobile banking or a mobile app available?

TotalDirectBank does not currently offer a mobile app. The app should be available in 2020. You can access your accounts through the TotalDirectBank website.

Is bill pay offered?

TotalDirectBank does not provide an online checking account. Because they do not offer a checking account, there is no bill pay available. TotalDirectBank offers a money market account and CDs.

Do the accounts offer competitive interest rates?

Yes. TotalDirectBank's money market account and CDs earn competitive rates. The rates are much higher than typical bank rates.

Do checking accounts earn interest?

TotalDirectBank does not offer a checking account. They offer a money market account and CDs. The CD terms range from 3-60 months.

What are the most popular accounts?

One of the most popular accounts is the TotalDirectBank money market account. The interest rates are competitive with other online accounts.

What are the monthly maintenance fees?

The TotalDirectBank money market account does not have monthly fees.

Is this one of the best banks?

TotalDirectBank offers competitive interest rates. The money market account does not have a monthly fee. The opening required amount for the MMA is $5,000 and each CD requires $25,000. TotalDirectBank only offers a money market account and CDs.

How are my money and personal information protected?

TotalDirectBank is FDIC insured. Their security measures comply with federal laws. Their computers have safeguards. Their buildings and files are secure.

Are any business accounts offered?

No. TotalDirectBank does not offer business accounts. They offer a personal money market account and CDs.

What makes these accounts different?

The interest rates for TotalDirectBank are more competitive than typical bank accounts. The accounts are completely online.

How do I reach customer service?

Through phone, email, or mail. Customer service is available Monday through Friday from 8:30 to 5 p.m. EST.

Bank Information

P.O. Box 524470
Miami, FL 33152-4470

Frequently Asked Questions

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