Total Direct Bank Locations (2024)

FAQs

Who owns TotalDirectBank? ›

In June 2018, CNB acquired Miami-based TotalBank, a full-service community bank owned by Banco Santander, a global multi-national bank. CNB's online division, TotalDirectBank, derives its name from that acquisition.

Is TotalDirectBank FDIC insured? TotalBank is a subsidiary of City National Bank of Florida, which is FDIC-insured (FDIC# 20234). The federal government protects your money up to $250,000 per depositor, per ownership category, in the event of a bank failure.

TotalBank is a registered Trademark and marketing name used by City National Bank of Florida (“CNBFL”). All loans and deposit products are offered by or provided through CNBFL. Loan products are not FDIC insured or guaranteed. CNBFL is Member FDIC and an Equal Housing Lender.

your account. A $25,000 minimum deposit via ACH is required to open an account. The maximum amount allowed per client is $1,000,000. A minimum monthly balance of $2,500 is required to earn the advertised APY.

Online banks can be as safe as traditional banks. Make sure that the institution is insured by the FDIC so that your money is protected in case of a bank collapse. Banks take cybersecurity precautions and you can typically find information about their security approaches via their websites.

Yes, just about all online banks provide FDIC insurance of $250,000 per depositor, per FDIC-insured bank, per ownership category.

You can make unlimited deposits into a money market account, and each withdrawal can be as big as you want, up to your account balance. Many money market accounts support withdrawals using online banking or electronic funds transfers and by check or debit card.

At the time, federal regulations did not allow banks to have banking centers. In turn, the partners established various small, community banks under the City National Bank name. When regulations allowed, all City National Bank locations merged into one City National Bank of Florida name.

FDIC-Insured

Your deposits are insured up to the maximum amount allowed by law, which is currently $250,000¹.

The FDIC insures up to $250,000 per account holder, insured bank and ownership category in the event of bank failure. If you have more than $250,000 in the bank, or you're approaching that amount, you may want to structure your accounts to make sure your funds are covered.

How to safely store deposits if you have more than $250000? ›

Wealthfront also offers some of the industry's highest FDIC protection. Other banks and fintechs offering competitive FDIC insurance include Betterment, Bluevine, SoFi and Ameris Bank, and like Wealthfront, they spread your funds among partnering FDIC-insured banks.

The general rule of thumb is to try to have one or two months' of living expenses in it at all times. Some experts recommend adding 30 percent to this number as an extra cushion.

With $100, you typically meet the opening balance qualifications for a broad range of institutions. Note that some savings accounts might let you open an account for as little as $100, but will require a much higher minimum balance, such as $5,000, to earn the best rate or a higher monthly balance to avoid a fee.

Franchise Group, Inc.

Franchise Group New Holdco, LLC / Parent organization

As part of a multiyear program to fulfill our mission of banking evolved, Bank of Internet USA and BofI Federal Bank, along with most of our other brands including BofI Advisor, Bank X, NetBank, Apartment Bank, Annuitants Federal Bank, and Virtus Bank, were absorbed into Axos Bank.

Fertitta Entertainment Inc. is a conglomerate and holding company that holds companies and investments owned by Tilman Fertitta.

Ownership Structure of Ally Bank

Ally Bank was formerly known as General Motors Acceptance Corporation (GMAC) Bank. It is owned by Ally Financial Inc and is a significant part of the financial world.