Requirements to open an account
Do I need to be a U.S. citizen to open an account?
No. In order to open an account with TotalDirectBank, you must be a U.S. Citizen or a Resident Alien. Federal Banking regulations require a valid social security number, valid driver's license, state issued ID or a U.S. issued passport for documentation.
No. In order to open an account with TotalDirectBank, you must be a U.S. Citizen or a Resident Alien. Federal Banking regulations require a valid social security number, valid driver's license, state issued ID or a U.S. issued passport for documentation.
What are state restrictions?
Each state has its own set of laws designed to protect investors against fraudulent sales practices and activities in its territory. As a result, a state restriction will vary by the issuing bank and offering. TotalDirectBank can conduct business anywhere in the US with exception of American Samoa, Florida, Guam, Northern Mariana Islands, Puerto Rico and US Virgin Islands.
Each state has its own set of laws designed to protect investors against fraudulent sales practices and activities in its territory. As a result, a state restriction will vary by the issuing bank and offering. TotalDirectBank can conduct business anywhere in the US with exception of American Samoa, Florida, Guam, Northern Mariana Islands, Puerto Rico and US Virgin Islands.
Rates
What are the current rates on CDs?
If you’d like to see the current rates please visit our website https://www.totaldirectbank.com/personal/cds and click on the CDs tab/link.
If you’d like to see the current rates please visit our website https://www.totaldirectbank.com/personal/cds and click on the CDs tab/link.
What are the current rates on Money Market Deposit Accounts?
If you’d like to see the current rates please visit our website https://www.totaldirectbank.com/personal/money-market-accounts and click on the Money Market Deposit Accounts tab/link.
If you’d like to see the current rates please visit our website https://www.totaldirectbank.com/personal/money-market-accounts and click on the Money Market Deposit Accounts tab/link.
Account Opening
How do I open an account with TotalDirectBank?
Opening a Certificate of Deposit (CD) or a Money Market Deposit Account is simple. With our easy to complete online application, you can open your account on your computer, tablet or smartphone. (Please note: TotalDirectBank can conduct business anywhere in the US with exception of Florida, Puerto Rico, American Samoa, Guam, Northern Mariana Islands, and US Virgin Islands. A valid state issued ID or U.S. passport is required to open an account.)
Opening a Certificate of Deposit (CD) or a Money Market Deposit Account is simple. With our easy to complete online application, you can open your account on your computer, tablet or smartphone. (Please note: TotalDirectBank can conduct business anywhere in the US with exception of Florida, Puerto Rico, American Samoa, Guam, Northern Mariana Islands, and US Virgin Islands. A valid state issued ID or U.S. passport is required to open an account.)
What is the maximum deposit amount allowed per client? The maximum allowed per client is $1,000,000. This includes a combination of Certificates of Deposits and Direct Money Market Deposit Accounts at TotalDirectBank. For more information about FDIC insurance coverage limits, visit https://www.fdic.gov/deposit/deposits/faq.html
What are the differences between a Certificate of Deposit and a Money Market Deposit Account?
| Money Market Deposit Account | Certificate of Deposit (CD) | |
|---|---|---|
| Recommended for: | Low-risk rainy-day fund | Long-term deposits |
| Withdrawal Restrictions: | Six transactions per month | Withdrawal penalty before maturity |
| Miscellaneous Fees2: | Excessive transaction fee | Early withdrawal penalty |
| Minimum Balance to open: | $25,000 | $25,000 |
| Minimum Daily Balance to earn APY: | $2,500 | $25,000 |
2Certain transaction and service charges may apply. Refer to Disclosure Schedule of Fees.
I have submitted my application; when should I expect a response? Our usual time-frame to process an application is two business days. You should receive a confirmation email within two business days.
What is the maximum amount allowed per client on a CD?
The maximum allowed per client is $1,000,000. This includes a combination of Certificates of Deposits and Direct Money Market Deposit Accounts at TotalDirectBank. For more information about FDIC insurance coverage limits, visit https://www.fdic.gov/deposit/deposits/faq.html
The maximum allowed per client is $1,000,000. This includes a combination of Certificates of Deposits and Direct Money Market Deposit Accounts at TotalDirectBank. For more information about FDIC insurance coverage limits, visit https://www.fdic.gov/deposit/deposits/faq.html
What is the minimum required to open an CD account?
To open a TotalDirectBank account and earn the disclosed APY for our Direct Certificate of Deposit, you'll need to meet a minimum deposit requirement of $25,000.
To open a TotalDirectBank account and earn the disclosed APY for our Direct Certificate of Deposit, you'll need to meet a minimum deposit requirement of $25,000.
What is the maximum required to open a Money Market Deposit Account?
The maximum allowed per client is $1,000,000. This includes a combination of Certificates of Deposits and Direct Money Market Deposit Accounts at TotalDirectBank. For more information about FDIC insurance coverage limits, visit https://www.fdic.gov/deposit/deposits/faq.html
The maximum allowed per client is $1,000,000. This includes a combination of Certificates of Deposits and Direct Money Market Deposit Accounts at TotalDirectBank. For more information about FDIC insurance coverage limits, visit https://www.fdic.gov/deposit/deposits/faq.html
What is the minimum required to open a Money Market Deposit Account?
A $25,000 minimum deposit is required to open a Money Market Deposit Account with us. However, only $2,500 is required to earn the advertised APY.
A $25,000 minimum deposit is required to open a Money Market Deposit Account with us. However, only $2,500 is required to earn the advertised APY.
Could I mail in my application?
Unfortunately, applications sent via postage mail are not accepted. If you’d like to open an account, please visit our website www.totaldirectbank.com, click on the 'Products' tab located on the top menu, and then select your desired account type. From there, you just have to click on the ‘Open Account’ button.
Unfortunately, applications sent via postage mail are not accepted. If you’d like to open an account, please visit our website www.totaldirectbank.com, click on the 'Products' tab located on the top menu, and then select your desired account type. From there, you just have to click on the ‘Open Account’ button.
Funding my account
How do I fund my account?
Online funding- Complete an online transfer from your linked external account. An external account is the one you own at a U.S. financial institution other than your TotalDirectBank account and that can be used to transfer funds to other banks.
Please note:
Online funding- Complete an online transfer from your linked external account. An external account is the one you own at a U.S. financial institution other than your TotalDirectBank account and that can be used to transfer funds to other banks.
Please note:
- TotalDirectBank Money Market account type is considered as checking.
- There is a seven-business day hold on funds availability the first time you initiate a deposit from an external account to your TotalDirectBank account via Automated Clearing House (ACH). This is designed to help protect you from potentially fraudulent activities.
- During this seven-business day period, we’ll verify the transaction and ensure that the funds are available and legitimate before releasing them into your account. After the initial deposit, future ACH deposits from the same external account will not be subject to this hold period, and the funds will be available on the day we receive the deposit.
How do I deposit funds into my account, once the account has been open and funded?
You may make deposits to your account(s) via the Mobile Deposit Service accessible only through the TotalDirectBank app. Mobile Deposits are governed by the terms of the Mobile Deposit Service Terms & Conditions included in this Agreement.
You may make deposits to your account(s) via the Mobile Deposit Service accessible only through the TotalDirectBank app. Mobile Deposits are governed by the terms of the Mobile Deposit Service Terms & Conditions included in this Agreement.
May I add additional funds to a CD once it has been opened?
No. Once we’ve received the initial funding, there is no way of adding additional funds. You have two options if you’d like to add funds:
No. Once we’ve received the initial funding, there is no way of adding additional funds. You have two options if you’d like to add funds:
- You can open a separate CD (minimum is $25,000)
- At the time of renewal, you can add funds to the principal balance.
What are the dollar limits for external/internal transfers?
Please refer to the table below on dollar limits for external/internal transfers via ACH.
Please refer to the table below on dollar limits for external/internal transfers via ACH.
| Channel/Transaction | Transaction Limit | Daily Limit | Monthly Limit |
|---|---|---|---|
| ACH Inbound | $250,000 | $250,000 | $500,000 |
| ACH Outbound | $25,000 | $25,000 | $250,000 |
Online Banking Enrollment and Access
Does TotalDirectBank have a mobile app?
Yes! Our TotalDirectBank mobile app is available for download on the App Store and Google Play.1
1Apple and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc. Google Play and the Google Play logo are trademarks of Google LLC.
Yes! Our TotalDirectBank mobile app is available for download on the App Store and Google Play.1
1Apple and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc. Google Play and the Google Play logo are trademarks of Google LLC.
How do I enroll in online banking?
You can enroll in online banking by visiting our website. You will see an ‘Enroll Now’ button (top-right corner of the page) where you will need to complete the registration form. Enrolling in online banking is quick and easy. Follow the step-by-step guide.
You can enroll in online banking by visiting our website. You will see an ‘Enroll Now’ button (top-right corner of the page) where you will need to complete the registration form. Enrolling in online banking is quick and easy. Follow the step-by-step guide.
How do I access my online account?
- To login to your account, click on the ‘Login’ button on the top right hand corner of the homepage. You will be asked to enter the username and password you created at the time of registration.
- If you are having issues with username or password, click on the ‘I can’t access my account’ link located underneath the login button. You will be prompted to enter your telephone number that you provided at the time of registration, and your username. We will then send you a temporary password for you to login.
- If you cannot remember your username, click on the ‘I forgot my username’ link located underneath the ‘Send me my password’ button. You will be prompted to enter the email address you provided at the time of registration. Once you click send, your username will be sent via email to the email address on file.
What is TotalDirectBank's Routing number? Our routing number is 066016889.
Please note: This routing number is only for incoming wire transfers, which can be initiated after your account has been opened. The initial deposit to open your account must be made via ACH transfer.
Please note: This routing number is only for incoming wire transfers, which can be initiated after your account has been opened. The initial deposit to open your account must be made via ACH transfer.
Account Status (Maturity, Closing & Dormancy)
What happens when my CD matures?
- We will mail you a Maturity Notice before your CD’s maturity date. There is a 10-day grace period in which you may withdraw principal without penalty or renew your CD with the same term. You may also close your CD and open a new one with a different term. The grace period begins on the day of maturity date and runs for ten (10) days (maturity date plus 10 days).
- If you do not contact us by the end of the 10-day grace period, your CD will automatically renew for another term. The renewal term will begin (retroactively) on the day after the maturity date of the previous CD term. A mail confirmation will be sent verifying the renewal terms.
Does my Money Market Account become Inactive?
Yes! If you do not make any deposits or withdrawals from your account (passive ACH debits and credits are not deemed transactions or if you fail to maintain contact with the Bank (example: return of mail to the last known address for the account, etc.) your account will become inactive in 16 months and deemed dormant after eighteen (18) months of inactivity for your money market accounts. Please refer to our Deposit Agreement.
Yes! If you do not make any deposits or withdrawals from your account (passive ACH debits and credits are not deemed transactions or if you fail to maintain contact with the Bank (example: return of mail to the last known address for the account, etc.) your account will become inactive in 16 months and deemed dormant after eighteen (18) months of inactivity for your money market accounts. Please refer to our Deposit Agreement.
Does my Certificate of Deposit become Inactive?
Yes, your certificate of Deposit will become dormant if there is no contact for five (5) years from the 1st renewal of your CDs, if no activity (meaning deposit, withdrawal, or another account) has taken place on the CD. Please refer to our Deposit Agreement.
Yes, your certificate of Deposit will become dormant if there is no contact for five (5) years from the 1st renewal of your CDs, if no activity (meaning deposit, withdrawal, or another account) has taken place on the CD. Please refer to our Deposit Agreement.
How do I reactivate my Inactive/Dormant account?
You can reactivate your Inactive account by making a deposit or withdrawal from your external bank account or for Dormant accounts by sending us an email to Contactus@totaldirectbank.com with the following details:
You can reactivate your Inactive account by making a deposit or withdrawal from your external bank account or for Dormant accounts by sending us an email to Contactus@totaldirectbank.com with the following details:
- Your Full Name
- Last four digits of your account number
- Request to reactivate your account
How do I withdraw my funds or close my certificate of deposit if the validated account is closed?
Should you decide to redeem/withdraw or not renew your certificate of deposit, we will return the funds to the account that funded the certificate of deposit. In the event the account that funded your certificate of deposit is no longer available, we will perform heightened security procedures prior to returning your funds in order to verify and protect your funds on deposit with us.
Should you decide to redeem/withdraw or not renew your certificate of deposit, we will return the funds to the account that funded the certificate of deposit. In the event the account that funded your certificate of deposit is no longer available, we will perform heightened security procedures prior to returning your funds in order to verify and protect your funds on deposit with us.
How can I close my Money Market Deposit Account?
Should you decide to close your account, please set up a transfer from within your TotalDirectBank or other Financial Institution external account online banking platform to pull the funds. You can also send us an email to contactus@totaldirectbank.com with instructions.
Note: If you close your account before interest is credited, you will not receive the accrued interest. If the balance of the account ends with zero balance at the end of the related term, all interest otherwise due to you is forfeited and shall not be paid for such term.
If I close my Money Market Deposit Account before interest is credit, would I receive that interest?
If you close your account before interest is credited, you will not receive the accrued interest. If the balance of the account ends with a zero balance at the end of the related term, all interest otherwise due to you is forfeited and shall not be paid for such term.
Will I earn interest if my Money Market Deposit Account balance falls below the minimum required to earn the Annual Percentage Yield?
You will earn interest in your money market deposit account if your balance is $2,500 or more.
FDIC Insurance
What is FDIC Insurance?
The FDIC (Federal Deposit Insurance Corporation) protects you against losses in the unlikely event of a bank failure up to $250,000. For more information on your FDIC coverage, use the FDIC’s deposit insurance estimator.
What is TotalDirectBank's FDIC number?
All TotalDirectBank deposit products are offered by, and will be opened through, City National Bank of Florida (CNBFL). CNBFL is a Member FDIC (#20234).
Are my deposits FDIC Insured?
Yes. All TotalDirectBank deposit products are offered by, and will be opened through, City National Bank of Florida (CNBFL). CNBFL is a Member FDIC institution. Processing services for all TotalDirectBank deposit products are provided by CNBFL. All deposits with CNBFL (including deposits through TotalDirectBank deposit products) are insured by the FDIC up to the applicable maximum amount allowed by law for each deposit ownership category. All balances for TotalDirectBank and CNBFL deposits would be combined for purposes of determining FDIC coverage eligibility. For more information about FDIC insurance coverage of deposits accounts, visit https://www.fdic.gov/deposit/deposits/
Is my money safe in TotalDirectBank's Certificate of Deposit or Money Market Deposit Account?
We are an FDIC-member bank; among the safest places you can put your savings. We are also rated “superior” with a five-star recommendation by Bauer Financial. FDIC Certificate # 20234
Should you decide to close your account, please set up a transfer from within your TotalDirectBank or other Financial Institution external account online banking platform to pull the funds. You can also send us an email to contactus@totaldirectbank.com with instructions.
Note: If you close your account before interest is credited, you will not receive the accrued interest. If the balance of the account ends with zero balance at the end of the related term, all interest otherwise due to you is forfeited and shall not be paid for such term.
If you close your account before interest is credited, you will not receive the accrued interest. If the balance of the account ends with a zero balance at the end of the related term, all interest otherwise due to you is forfeited and shall not be paid for such term.
You will earn interest in your money market deposit account if your balance is $2,500 or more.
FDIC Insurance
The FDIC (Federal Deposit Insurance Corporation) protects you against losses in the unlikely event of a bank failure up to $250,000. For more information on your FDIC coverage, use the FDIC’s deposit insurance estimator.
All TotalDirectBank deposit products are offered by, and will be opened through, City National Bank of Florida (CNBFL). CNBFL is a Member FDIC (#20234).
Yes. All TotalDirectBank deposit products are offered by, and will be opened through, City National Bank of Florida (CNBFL). CNBFL is a Member FDIC institution. Processing services for all TotalDirectBank deposit products are provided by CNBFL. All deposits with CNBFL (including deposits through TotalDirectBank deposit products) are insured by the FDIC up to the applicable maximum amount allowed by law for each deposit ownership category. All balances for TotalDirectBank and CNBFL deposits would be combined for purposes of determining FDIC coverage eligibility. For more information about FDIC insurance coverage of deposits accounts, visit https://www.fdic.gov/deposit/deposits/
We are an FDIC-member bank; among the safest places you can put your savings. We are also rated “superior” with a five-star recommendation by Bauer Financial. FDIC Certificate # 20234