15 Comments

  1. That TIAA-CREF website ad with the P.O. Box sounds like an obvious scam. In any case, TIAA-CREF is a great savings plan for teachers, and has great benefits. Thanks for sharing this complete picture in your review.

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  2. It’s really annoying when banks drop their rates after they’ve secured enough deposits. I detest when they do that!

    1.24% is pretty impressive though.

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  3. 1.24% sounds really appealing to me since my current accounts are making me basically nothing right now.

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  4. IMHO ,, avoid this outfit …

    1) “uncompleted” online enrollment application for joint-account
    resulted in “account lock-out” in which phone reps & supervisors
    were NOT able to remedy; even after two days.

    2) The Bank’s Phone Reps are only permitted to communicate with “customers”
    via their web-mail, once you log-in to your account. geeze.

    3) Their technical skill level is low and “procedures” are arbitrary and annoying.

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  5. im thinking about starting a savings account and i saw this tiaa direct on clarke howard and thought it might be a good idea. just a basic saving nothing really planned with the money. is this the account for me?

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  6. I have been trying to fund my account for two weeks now, but they can’t get it together. I opened one with CIT the same day to spread the decent interest wealth return, that got processed immediately. But these jokers, much as they are nice as pie on the phone, are a trainwreck. Error after error after error…

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  7. Barnie WallaceFebruary 1, 2013 at 5:30 pm

    TIAA Direct Drops Savings Rate, Imposes Withdrawal Limits

    TIAA Direct, the online banking division of TIAA-CREF, has slashed the rates of its savings and money market accounts from 1.25% APY to 1.00% APY. This rate affect existing customers. The online bank stopped accepting new customers as of July 2012.

    Additionally, in mail notices to customers, TIAA Direct said that ACH withdrawals will be limited to $5,000 per day, effective Feb. 13, 2013.

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  8. Abigail BuellJuly 29, 2014 at 1:39 pm

    TIAA CREF and it’s subsidiaries are unethical companies. I would NOT recommend banking or investing with them… I’m still trying the untangle the mess that they’ve created for me. Also, I had done my checking with them for a year. Their fraud department froze my account after I simply accessed my own money through 3 ATM withdrawals. They did not notify me and apparently had no plans to notify me. They left me to figure this out when my bills and other transactions were declined and I started getting hit with returned item fees. Even after speaking with customer service, they had no clear idea of what the issue with my account was or how to resolve it. EVENTUALLY after days of phone calls I got through to the horrible person in the fraud department who had frozen my account and then gone on vacation, Donricka Simmons. FINALLY I though everything would return to normal – not so. These are just the most idiotic people, completely lacking in common sense, working with a terrible system. It’s been 6 weeks and I’m still trying to straighten out all of the problems they caused for me by removing my access to my own account.

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