TAB Spend
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TAB Bank, an online bank operated by TriplePoint Bank and FDIC-insured, launched TAB Spend as a direct answer to the question many checking account holders ask: why shouldn't your checking balance earn meaningful interest and every debit card purchase earn cash back? TAB Spend combines two features that are rarely unified in the cashback debit space: genuine interest on your account balance and flat-rate cashback on all qualifying purchases. The result is a checking account where your money is actively rewarded both when it sits still and when you spend it.
The centerpiece of TAB Spend is the 1% cashback on all qualifying debit card purchases. This is a true flat rate, with no tiers, no categories, no partner merchants, and no monthly caps. Every purchase you make with your TAB debit card earns exactly 1% back into your account. Groceries, gas, dining, and online shopping all qualify at the same rate. Money transfers, peer-to-peer payments (like Venmo transfers), and cash withdrawals don't qualify for cashback, but those are typical exclusions across the industry. The simplicity is genuinely refreshing: you don't need to optimize your spending or remember which category you selected; the cashback is automatic and universal.
What sets TAB Spend apart, however, is the interest rate. Your checking balance earns 2.75% APY, which is exceptionally competitive for a checking account in 2026. Most checking accounts pay minimal interest or none at all. Even high-yield savings accounts don't always reach 2.75%, so having that rate on your primary checking account is a considerable advantage. This means that $10,000 sitting in your checking account earns roughly $275 per year in interest alone, plus whatever cashback you generate from spending. The combination of interest and cashback creates a genuinely rewarding checking experience that benefits both savers and spenders.
TAB Spend is structured as a straightforward checking account with no surprises in the fee department. There are no monthly maintenance fees, no overdraft fees, no minimum balance requirements, and no foreign transaction fees on purchases made abroad (though there is a currency conversion mark-up like most debit cards). You get a Mastercard debit card that works worldwide, a mobile app for managing your account, and full access to TAB Bank's online banking portal. The account is FDIC-insured up to the standard $250,000 limit, so your money is protected if the bank faces any difficulties.
The interest rate and cashback earnings both deposit directly into your account, making your money easy to track and access. You can transfer funds to other banks, pay bills, set up recurring payments, and do everything else a traditional checking account offers. TAB Bank also provides features like mobile check deposit, a network of no-fee ATMs, and relatively strong fraud protection. For users accustomed to traditional banking, there are no surprises or friction points in how TAB Spend operates; it feels and functions like a normal checking account, just with better rewards.
There are some practical considerations worth noting. TAB Bank is smaller than national banks like Chase or Bank of America, which means fewer physical branch locations if you ever need in-person banking. However, because TAB Spend is a fully digital account, this is often not a meaningful limitation for people comfortable with online banking. Customer service is available through the app, website, and phone, though reviewers have occasionally noted that support response times can vary. If you absolutely need a brick-and-mortar branch for check cashing or notary services, TAB's national footprint won't match the big banks.
Another consideration is that the 1% cashback applies to the full transaction value regardless of merchant category. There are no higher rates for dining or travel, no bonus periods where you earn 2% or 3%, and no layering of rewards with partner retailers. What you see is what you get: 1% on everything, every time. For some users, this simplicity is exactly what they want. For others who prefer variety or the ability to earn more through strategic spending, TAB Spend's flat structure may feel limiting compared to tiered or partner-based programs.
The interest rate is subject to change, and APY rates have been volatile in the current economic environment. TAB Spend's 2.75% is competitive as of July 2026, but it could decrease if the Federal Reserve cuts interest rates further. That said, TAB's rate has been fairly generous historically, so the bank has shown a willingness to offer attractive returns when market conditions allow. Even if the rate decreases, it will likely remain more competitive than the near-zero rates many traditional checking accounts offer.
Comparing TAB Spend to the broader category, it occupies a unique position. Unlike Venmo Stash, which caps earnings at $100 monthly and requires brand bundles, TAB Spend offers unlimited 1% cashback. Unlike OnePay, which restricts rewards to specific categories, TAB pays cashback on all purchases. Unlike Step, which requires activation through Step Black or a direct deposit threshold, TAB Spend's rewards are automatic for everyone. The interest rate makes TAB Spend special: it's the only cashback debit account in this category that meaningfully rewards you for maintaining a balance rather than just spending it.
TAB Spend is ideal for people who maintain a meaningful checking balance and want that money earning interest without taking on savings account volatility or restrictions. It's also excellent for consistent spenders who value a simple, flat cashback rate without the cognitive overhead of tracking categories or managing tiers. The no-fee structure and absence of minimum balance requirements mean there's no downside to opening the account, even if you decide to keep most of your money elsewhere and only use TAB for specific purposes.
For account holders comparing TAB Spend to traditional checking accounts, the value proposition is clear: you get interest on your balance plus cashback on spending, both with zero fees. Most national banks offer neither of these benefits, or only offer them at a premium tier with minimum balance requirements. TAB Spend delivers both to every account holder, making it a genuinely compelling option for people moving away from legacy banking. The combination of 2.75% APY interest and 1% unlimited cashback means your money is working for you whether it's sitting in the account or being actively spent.