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FAQs

Is my money safe in TotalDirectBank's Certificate of Deposit or Money Market Deposit Account?
Absolutely. 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. Certificate # 20234
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.
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 and Puerto Rico. A valid state issued ID or U.S. passport is required 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.
What is the maximum amount allowed per client?     
The maximum allowed per client is $500,000. This includes a combination of Certificates of Deposits and Direct Money Market Deposit Accounts at TotalDirectBank. (Example: in the same household, person A has a $500,000 Certificate of Deposit, while person B has two $250,000 Certificates of Deposit). For more information about FDIC insurance coverage limits, visit https://www.fdic.gov/deposit/deposits/faq.html
Are my deposits FDIC Insured?     
Yes.  All TotalDirectBank deposit products are offered by, and will be opened through, City National Bank of Florida (CNB). CNB is a Member FDIC institution and a member of the National Banking Association. Processing services for all TotalDirectBank deposit products are provided by CNB. All deposits with CNB (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 CNB 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/
What is TotalDirectBank's FDIC number?
City National Bank of Florida FDIC # 20234.
How do I fund my account?     

We have two options available for you to fund your new account:

  1. Online funding- Complete an online transfer from your linked external account.  An external account is 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.
  2. Mail a check -You can mail a check made payable to yourself, or you can endorse checks made payable to you and write "For Deposit Only" on the back of the check.  Please be sure to include your application number on the section labeled memo.
Please mail all checks to:
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, and click on the 'Products' tab located on the top menu to select your desired account type. Click on your product of interest. You will be directed to the corresponding product page with instructions to begin filling out your application.  Select the product term you are interested in and click on the ‘Open Account’ button.

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 fee before maturity
Fees: Excessive transaction fee Early withdrawal and wire transfer fee's
Minimum Balance: $2,500 $25,000

 

How do I enroll in online banking?   
 You can enroll in online banking by visiting our website www.totaldirectbank.com/online-banking.  You will see an ‘Enroll Now’ button where you will need to complete the registration form.
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 
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. 
Does TotalDirectBank have a mobile app?
Our team is currently working on a new mobile app expected to be made available in early 2020. Once internal testing is finalized, the app will be released to Apple and Google. A client communication will be sent out once the app is available.
What is the minimum required to open an CD account?
In order to open a TotalDirectBank account and earn the disclosed APY, a minimum of $25,000 for the Direct Certificate of Deposit. 
What is the maximum amount allowed per client on a CD? 
The maximum allowed per client is $500,000. This includes a combination of Certificates of Deposits and Direct Money Market Deposit Accounts at TotalDirectBank. (Example: in the same household, person A has a $500,000 Certificate of Deposit, while person B has two $250,000 Certificates of Deposit). For more information about FDIC insurance coverage limits, visit https://www.fdic.gov/deposit/deposits/faq.html  
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.  
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.
 
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:
  1. You can open a separate CD (minimum is $25,000)
  2. At the time of renewal, you can add funds to the principal balance.
 
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.
What is the minimum required to open a Money Market Deposit Account?      
    A $2,500 minimum deposit is required to open an account and earn the advertised APY.
What is the maximum required to open a Money Market Deposit Account?      
 The maximum allowed per client is $500,000. This includes a combination of Certificates of Deposits and Direct Money Market Deposit Accounts at TotalDirectBank. (Example: in the same household, person A has a $500,000 Certificate of Deposit, while person B has two $250,000 Certificates of Deposit). For more information about FDIC insurance coverage limits, visit https://www.fdic.gov/deposit/deposits/faq.html

What are state restrictions?

Not all products are available in all states. 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.