-
Financial Rates:
4.0
-
Customer Service:
2.0
-
Website Experience:
2.5
-
Bank Fees:
5.0
Pros:
- Competitive interest rates on accounts
- Application completely online
- No monthly maintenance fees
- Interest rates are not tiered
Cons:
- High opening required amounts
- Limited accounts available
- Not available in all 50 states
- Application response not immediate
-
Financial Rates:
1.0
-
Customer Service:
5.0
-
Website Experience:
5.0
-
Bank Fees:
2.5
Pros:
- Chase Pay
- Chase Liquid
- Credit Journey
- Chase QuickDeposit
Cons:
- Products Not Offered Everywhere
- Accounts Have Fees
- High Opening Amount
- High Daily Balances
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.
Chase Pay is a digital wallet. It makes purchases easy. Pay for gas without getting out of the car. Pay without transferring your card number to websites and apps with the Chase Pay logo. You can use the QR code at stores. Coupons are automatically added to your favorite stores.
Chase Pay lets you use your Chase Ultimate Reward points to make purchases. This keeps your information secure and up to date. Thousands of places accept Chase Pay including Walmart and Best Buy. You still earn reward points when you use Chase Pay. This cannot be used with subscriptions like Netflix or Amazon Prime or outside the U.S.
Chase Liquid is a reloadable card. Opening deposit is $25. Money is directly deposited on the card. Money can be deposited through Chase QuickDeposit, direct deposits, or you can transfer money from other accounts to the cards. With the Chase Liquid card, you can make purchases, withdraw cash, pay bills, and use Zelle. It offers zero liability protection for unauthorized transactions. There is a $4.95 monthly fee to use Chase Liquid.
Chase Credit Journey helps get your credit under control. This is free to anyone, not just Chase customers. Get email alerts about changes to your credit. Check your credit score anytime for free, without hurting your score. Credit Journey shows how credit is affected when debts are paid off, or new accounts opened. Using this tool helps prevent fraud.
Deposits are easy with Chase QuickDeposit in the Chase Mobile App. Snap a picture of your check and follow the instructions. Make a deposit anytime, anywhere from a mobile phone or tablet. Step-by-step instructions are on their website.
Not all Chase products and features are offered in all areas. Input your zip code to learn what products are available in your area.
All Chase accounts, except CDs, have fees. Savings and checking accounts have a monthly maintenance fee. The fees range from $5 to $25. Waive fees by having a minimum balance in the account, or by linking a checking and savings account together. Direct deposits or automatic payments waive the monthly fees as well.
Every account with Chase needs a minimum of $25 to open. Some accounts require $100 as the opening balance.
Savings and checking accounts require a daily balance to avoid fees. The daily balances range from $1,500 to $100,000. If you cannot maintain this amount, you will have to use one of the other ways to have your fees waived.
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| Savings (Rate as of 11/21/2024) | |
| APY | 4.00% |
|---|---|
| Rate | 3.92% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC | |
| Savings (Rate as of 11/21/2024) | |
| APY | 4.75% |
|---|---|
| Rate | 4.64% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC No monthly maintenance fee, $0 to open, easily grow your money | |
The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guarantee the accuracy or availability of any rates shown. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own website where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
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1 APY stands for Annual Percent Yield. It's different from Rate because it takes into account compounding interest for the year.
2 MMA stands for Money Market Account. It's a savings and checking hybrid, allowing you to earn interest and use checks 6 times a month.