TIAA Bank Review | The Ascent by Motley Fool


TIAA Bank has five checking account types, discussed below.

TIAA Bank Basic Checking

The TIAA Bank Basic Checking account has a waivable monthly fee and no interest. It offers a few unusual perks — like ATM fee reimbursements and debit card purchase benefits. There are also more traditional benefits like mobile banking. It’s not a bad account, but it’s overshadowed by TIAA Bank’s Yield Pledge® Checking account.

TIAA Bank Yield Pledge® Checking

The TIAA Bank Yield Pledge® Checking account has no maintenance fee and earns interest. There’s a promotional APY for the first year. After that, your APY depends on your balance. Thanks to the Yield Pledge® guarantee, it’s always within the top 5% of all comparable checking account APYs.

You need a larger sum to open this account. But once you do, there aren’t any balance requirements. You get the same perks as Basic Checking customers, too. These perks include ATM fee reimbursements and debit card purchase protections.

TIAA Bank Business Checking

This account gives you a limited number of free items processed per month. There’s also a maintenance fee, though you can waive it with a high enough balance. It doesn’t offer interest or ATM fee reimbursements.

TIAA Bank Small Business Checking

The TIAA Bank Small Business Checking account has no maintenance fee or balance requirement, though there’s an initial deposit requirement. It also earns interest and includes ATM fee reimbursements to select customers.

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TIAA Bank Non-Profit Checking

The TIAA Bank Non-Profit Checking account is specially designed for nonprofits. It shares features of TIAA Bank’s other business checking accounts. It earns a modest APY, though there’s no promotional rate for the first year. The account also has a maintenance fee, but you can waive it.


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