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).

Update

Currently not accepting new applications for all deposit accounts.

Customer Service #

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Overall Rating

B+
Grade

TIAA Direct Report Card

Overall rating score 68%
Customer Rating
Based on 20 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

Customer Reviews

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

Keenan's Profile Image

Reviewed by Keenan

Mar 19th 2014

2 out of 5 marks

Terrible

This bank advertises great interest rates for money markets but it's not worth the trouble. I can't even make deposits to my own bank because every time I try to log in to mobile banking it says my password is reset. I've spent an hour on the phone with customer service and I received FOUR emails saying that my password has been reset. They were unable to resolve the issue. I actually ended the conversation letting them know that I'd be withdrawing my money and literally taking my money to the bank...elsewhere.

Is this review helpful? ▲ Yes 1 ▼ No 0

goodriddance's Profile Image

Reviewed by goodriddance

Dec 31st 2013

1 out of 5 marks

precipitous rate decrease each month

Pros: Very little, I thought the rich history of TIAA-Cref would spill down on their newly created online banking- sadly it did not.

Cons: Mint.com downloads were always problematic

Rates continued to fall throughout 2013, most money markets online banks held steady .75-.90%, My last straw was .54% in Oct 2013, it has continued to go down to .45%

Rates are tiered, Sallie Mae Money Market does not have tier rates.

I too, got the stern Patriot Act Letter after closing my account, so I was not affected but when I called in October when the rates further declined and was attempted to be cross sold into a one year cd which still was not competitive at the time and still is not.

Lastly, when I called in October 2013, I remember the customer service rep asked me if my deposit was inherited, or earned income I was irked by her question, but did not ask further why that was important, she said it was to update on the original online application. I never remember a question like that being asked.

Is this review helpful? ▲ Yes 1 ▼ No 0

Post a review View all reviews

Bank Rates

NAME RATE (APY) MIN TO EARN APY MIN TO OPEN
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

4.33%

1

N/A

15 Year Fixed

3.42%

1

N/A

NAME RATE POINTS FEES
7/1 ARM

3.063%

1

N/A

5/1 ARM

2.563%

1

N/A

3/1 ARM

2.25%

1

N/A

TERM RATE (APY) MIN TO OPEN
6 Month CD

0.60%

$1,000

12 Month CD

0.90%

$1,000

24 Month CD

1.15%

$1,000

Banking Fees

Type Fee National average
Monthly Inactivity

$2

After 12 months of no activity

$6

Non-Sufficient Fund (Overdraft)

$25

$30

Stop Payment item

$25

$27

Return Deposit

$10

$17

Domestic Wire Transfer (Outbound)

$20

$22

Domestic Wire Transfer (Inbound)

$10

$8

Non-Bank ATM

$0

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

$1

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