About TIAA Direct

TIAA-CREF is short for Teachers Insurance and Annuity Association – College Retirement Equities Fund is a leading retirement provider for people who work in the academic, research, medical and cultural fields. TIAA Direct is a division of TIAA-CREF Trust Co, FSB. Deposits up to $250,000 at TIAA-CREF Trust Company, FSB are insured by the FDIC (member since 1998).
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No monthly maintenance fee, no matter what your balance is.

Overall Rating

MyBankTracker rated TIAA Direct based on the following criteria that includes real customer reviews and bank fees, among others. Our bank report card is a proprietary rating system that highlights the financial health and stability of the bank.

A+

MyBankTracker Rating

Customer Rating
Based on 24 Reviews
Financial Health
Based on Texas Ratio: 0
Bank Fees
vs. Average
Bank Rates
vs. Average
Mobile Deposits
Mobile Deposits
Mobile Banking
Quality of Mobile Services

Most Helpful Customer Reviews

jason's Profile Image

Reviewed by jason

Feb 22nd 2012

4 out of 5 marks

Best rate out there

I ended up making three calls to their customer service to get everything I wanted.

1. I completed the application over the phone due to a bug on their application form

2. I was locked out of my account (most likely my password was reset)

3. I wanted remote deposit on my iPhone

They have the best rates available as of today (2/22/2012). I'm in the process of transferring my other savings accounts (0.80% APY and 0.70% APY).

So far the online experience is clean and simple. I'll update this review when I've finished my transfers.

Is this review helpful? ▲ Yes 2 ▼ No 0

ralex's Profile Image

Reviewed by ralex

May 3rd 2012

4 out of 5 marks

Best Rates Around. Great Customer Service. Some Technical Issues.

The bank promises the best savings rates around. This is the primary reason why i chose this bank. Other reasons include the mobile app for checking, balance, and transfers.

Application process:

The application process was quick and painless. I was approved for a checking and savings accounts instantly. I did hit a snag when activating my user account. The system does not accept two-word answers to required security questions, and doesn't explain this clearly when it errors out. The csr helped me sort this out.

Site:

Simple to use, but is not completely polished. I was able to find all my desired features. However, it's obvious that they are still working out some faults and improving user workflows (i hope). Besides several annoyances with using the site my biggest complaint so far is that bill pay does not work in safari on mac (had to use chrome instead). The site provides clear information about the status of your funds (available vs on hold) and allows to rename accounts.

Mobile app:

Simple and does what it's supposed to, even if a bit ugly-looking. Relatively easy to set up.

Incompatibility with Mint:

One big let down for me is that this site does not currently support mint. Com. Tiaa told me that they are working on it but have no definitive date. This is important to me and i hope they work it out sooner than later. You can, however, export to quicken.

Customer service:

Surprisingly good. The woman who helped me activate my account was knowledgeable, pleasant, and helpful. I also sent three queries via the messaging system and got responses the same day. In conclusion, tiaa direct is a promising and attractive new bank. They will be the best out there if they are able to take care of all the faults with their site - pretty much the one and only conduit of interaction between the customer and the bank.

Is this review helpful? ▲ Yes 1 ▼ No 0

Philip H's Profile Image

Reviewed by Philip H

May 11th 2012

4 out of 5 marks

Streamlined Signup. No Major Issues Except That They Don't Allow Mint Connections Yet.

I signed up for the 1. 25% rate, but i know this too shall pass eventually. My only problem with them is that they do not allow mint. Com connections. Bummer! For the amount i've deposited so far the yield is only going to be a matter of single-digit dollars so i opened an american express personal savings account until they decide to cooperate with mint. Sorry, but the convenience of seeing all my accounts in one place overrides my intention to save a few cents/dollars. Since rates vary i'm not going to make a huge effort to rate chace a savings account. Once tiaa decides to cooperate i'll probalby move my funds back.

Is this review helpful? ▲ Yes 1 ▼ No 0

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Bank Rates

NAME RATE (APY) MIN TO EARN APY Min Deposit
Interest Checking

0.05%

$0

$25

Interest Checking

0.10%

$1,500

$25

Interest Checking

0.15%

$25,000

$25

NAME RATE POINTS FEES
30 Year Fixed

3.65%

1

N/A

15 Year Fixed

3.00%

1

N/A

NAME RATE POINTS FEES
7/1 ARM

3.063%

1

N/A

5/1 ARM

2.813%

1

N/A

3/1 ARM

2.50%

1

N/A

TERM RATE (APY) Min Deposit
6 Month CD

0.60%

$1,000

12 Month CD

1.01%

$1,000

24 Month CD

1.08%

$1,000

Banking Fees

Type Fee National average
Monthly Inactivity

$2

After 12 months of no activity

$7

Non-Sufficient Fund (Overdraft)

$25

$30

Stop Payment item

$25

$27

Return Deposit

$10

$13

Domestic Wire Transfer (Outbound)

$20

$22

Domestic Wire Transfer (Inbound)

$0

$9

Non-Bank ATM

$0

20,000 ATMs in the Moneypass and Sum / Intercept networks

$1