TD Bank Review

TD Bank offers extended customer hours and easy online banking. Are these perks worth it? Find out what makes TD Bank a great choice for you and some reasons to look elsewhere.

TD Bank calls themselves "America's Most Convenient Bank," due to their extended hours. Today, TD Bank has approximately 1,100 branches located throughout the East Coast from Maine to Florida.

They also cater to clients nationwide through their 24/7 customer service and online account access.

Keep reading to learn more about your banking options with TD Bank.

What Services Does TD Bank Offer?

TD Bank offers a variety of banking products, including savings, checking, and CDs. They also offer CDs and IRAs for those who want to invest.

The bank is fairly "fee heavy." Checking and savings accounts require a minimum daily balance or you'll pay a monthly fee.

In exchange for their unique fee structure, TD tends to offer higher than average interest rates on their checking and savings accounts.

SAVINGS ACCOUNTS

Here's a brief look at their 2 savings accounts: Simple Savings and Signature Savings

• Simple Savings: As the name suggests, this savings account keeps things simple by offering one interest rate rather than tiered rates.

  There is a small monthly fee, which can be waived if you are younger than 18 or older than 62. You can also have it waived if you have a $300 minimum daily balance.

• Signature Savings: If you're looking for a savings account that offers tiered interest rates based on your balance and plenty of account perks, Signature Savings may be the right option for you.

  As your balance grows, so does your interest rate, helping you to earn more as you save. One downside, however, is that you need at least a $10,000 minimum daily balance, or to link an eligible TD Checking account to waive the monthly fee.

Compare Savings Accounts

High-Yield Savings Premier - 4.46% APY

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• No account activity or maintenance fees
• $500 minimum opening deposit
• FDIC insured

The annual percentage yield (APY) is accurate as of November 7, 2024 and subject to change at the Bank's discretion. Refer to product's website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY. Member FDIC

Member FDIC

Discover® Online Savings - $200 Cash Bonus

To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY924 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.

What to know: Offer not valid for existing or prior Discover savings customers, including co-branded, or affinity accounts. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of the account qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 03/13/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding your Account, see FAQs on Discover.com/Bank. See advertiser website for full details.

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Expires 3/13/2025

Member FDIC

CIT Bank Platinum Savings - 4.55% APY

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• 4.55% APY with a balance of $5,000 or more
• 0.25% APY with a balance of less than $5,000
• $100 minimum opening deposit
• No monthly maintenance fee
• Member FDIC

CHECKING ACCOUNTS

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TD Bank also offers several checking accounts, including popular choices: Complete Checking, Beyond Checking and Essential Banking

• Complete Checking: This account has a $15 monthly maintenance fee but you can waive it when you:
  • Have $500 or more in direct deposits within a statement cycle; or
    
  • Maintain a minimum daily balance of $500; or
    
  • Have $5,000 minimum daily combined balance of all deposit accounts that you choose to link; or
    
  • When the Primary account holder is 17 through 23 years of age

  TD Complete Checking - $200 Cash Bonus

  Click Here to Learn More

  Earn $200 when you have $500 in qualifying direct deposits within 60 days.

• Beyond Checking: If you have a larger amount of money you can keep in your checking account, you can earn interest on it with this account. This account has a $25 maintenance fee but it can be waived if you:
  • Maintain a minimum daily balance of $2,500. As an added benefit, you may get your non-TD ATM fees reimbursed if you maintain this balance
    
  • Receive at least $5,000 in direct deposits
    
  • Have a $25,000 combined balance across eligible TD accounts

• Essential Banking: This account has a low monthly maintenance fee of $4.95, so if you're looking for a low-cost, checkless everyday bank account without overdraft fees, this might be the right fit for you. There's no minimum deposit required and no minimum daily balance requirement.

If you have money to set aside for future needs like retirement, TD Bank also offers a variety of CD and IRA accounts. The accounts have tiered interest rates and no monthly fees to help you make the most out of your investment.

Compare Checking Account Promotion

Member FDIC

Bank of America Advantage Banking - $300 Bonus Offer

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Expires 1/31/2025

• The $300 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
• The offer is for new checking customers only.
• Offer expires 01/31/2025.
• To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive Qualifying Direct Deposits* totaling $2,000 or more into that new eligible account within 90 days of account opening. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
• Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
• Additional terms and conditions apply. See offer page for more details.
• *A Qualifying Direct Deposit is a direct deposit of regular monthly income – such as your salary, pension or Social Security benefits, which are made by your employer or other payer – using account and routing numbers that you provide to them.
• Bank of America, N.A. Member FDIC.

Member FDIC

U.S. Bank Smartly® Checking - Up to $450 Bonus

Earn up to $450 when you open a new U.S. Bank Smartly® Checking account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through December 30, 2024. Member FDIC.

Earn up to $450 with a new Bank Smartly Checking account. Complete the following within 90 days of account opening:

• Enroll in online banking or the U.S. Bank Mobile App
• Make two or more direct deposits(s) totaling $2,000 to $4,999.99 to earn $250, $5,000 to $7,999.99 to earn $350 or $8,000 or more to earn $450.

Fund your new account within 30 days to start qualifying activities. Offer may not be available if you are an existing U.S. Bank customer or live outside of the U.S. Bank footprint.

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Expires 12/30/2024

Member FDIC

HSBC Premier - Earn Up to $2,500

Start an HSBC Premier relationship today. You'll enjoy premium banking with both local and global benefits and access to wealth solutions offered through HSBC Securities, (USA), Inc*.

You could earn $1,500 or $2,500 if you open a new, eligible HSBC Premier checking account from July 1, 2024 through November 22, 2024, and complete qualifying activities.

• Get a $1,500 Cash Bonus: Add New Money of $100,000 to $249,999 in deposit and/or eligible investment accounts within 20 days of opening your new checking account and maintain the Qualifying Balance for 3 full consecutive months.
• Get a $2,500 Cash Bonus: Add New Money of $250,000+ in deposit and/or eligible investment accounts within 20 days of opening your new checking account and maintain the Qualifying Balance for 3 full consecutive months.
• Cash Bonus will be deposited into your new checking account within 8 weeks of meeting all the offer requirements.

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Expires in 19 hours

Reasons We Like TD Bank

• You can reach a customer service representative 24/7. Even if you're banking in the middle of the night, you can call TD Bank at 1 (888) 751-900 to talk to a customer service representative. Use this hotline to ask questions, resolve issues, or even open an account.

• TD Bank offers some of the longest hours at their physical branches compared to other banks. They operate on extended hours during the week.
  TIP: Save your banking till your day off. TD Bank is also open on Sundays and even some holidays.
  

• You can get your monthly fees waived with somewhat low balance requirements. You can get your monthly fees waived with as little as $300 to $10,000 average balance in your account.

• Students can get free checking or savings accounts. If you are between the ages of 17 and 23 years old and can prove that you are an active student, then you can get fee-free Student Checking or Savings accounts. You still get access to online and mobile banking to make it easy to bank from wherever you are.

• You can use the TD Digital Wallet to pay anywhere digital payments are accepted. Just add your TD Bank Visa to your digital wallet and use it to pay at any retailer or restaurant accepting Apple Pay, Samsung Pay, Google Pay, PayPal, and Visa Checkout.

• You can set up email alerts. You can set up a low-balance alert. This may help you avoid overdraft fees. You can also set up high-balance alerts.

  This tells you when you've reached your savings goal. At that point, you can jump to the next tiered checking or savings account to maximize interest.

• You can easily open an account online. It only takes a matter of minutes and a little personal information to get your account open.

  Once you fund it, either in person or via electronic transfer, you are ready to start earning interest.

• TD Bank offers a wide variety of products including mortgage loans, home equity loans, personal loans, and credit cards. You can have your deposit, investment, and loan accounts all in one convenient place.

Reasons You May Want to Look Elsewhere

• Many of the checking and savings accounts have monthly fees. Fees of $5 - $25 per month can add up over the course of a year.

  Many of the accounts allow you to waive the fees with somewhat low minimum balance requirements.

• If you don't live on the East Coast, you can often find interest rates that are much higher at online-only banks.

  TD Bank has overhead to manage, which minimizes the interest they can offer their online clients.

• You'll pay a fee for using non-TD ATMs unless you have the Beyond Checking account, which requires a $2,500 minimum balance.

  If you don't keep that high of a balance in your checking account, making minimal interest, the ATM fees can add up.

How It Compares

Bank of America
Along the East Coast, you'll likely find just as many Bank of America branches as you do TD Bank branches.

Bank of America offers similar bank accounts, but at slightly lower fees. They have slightly lower balance requirements to waive the monthly fee.

They also allow you to waive the fees if you set up direct deposit.

	TD BankChaseUS BankBMODiscover Bank Member FDIC	Member FDIC
	Learn More	Learn More
	TD Bank	Bank of America
	SPECIAL OFFER TD $300 Beyond Checking Bonus - Learn More	OFFER Bank of America Advantage Banking - $300 Bonus Offer
	Benefits and Features
Savings	0.02% APY. No minimum deposit. $5.00 monthly fee waived if 1) minimum $300 balance or 2) waived for the first 12 months if with recurring transfer of $25 or more from a TD Bank account or if you're under 18 or 62 and older.	Bank of America Advantage Savings Standard Rate: 0.01% APY
CD	1.00% APY (up to 4.50% for Relationship APY). Terms of 3 to 60 months. Minimum deposit of $250. Allows one penalty-free withdrawal (depending on account).	7-Month CD - 4.05% APY 10-Month CD - 3.70% APY 13-Month CD - 3.00% APY 25-Month CD - 2.00% APY 37-Month CD - 0.11% APY 1-Month CD - 0.03% APY 120-Month CD - 0.03% APY
Checking	TD Complete Checking, TD Beyond Checking, TD Essential Banking
Mobile App	iOS & Android
ATMs	2,600 ATMs throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida	Approximately 16,000+ ATMs
Customer Service	24/7 Live Customer Service (Telephone)	Mon-Fri: 8am - 9pm (ET) Sat: 8am - 8pm (ET) Sun: 8am - 5pm (ET)
IRA CD	1.00% APY (up to 4.50% for Bump Rate APY). Terms of 3 months to 5 years. Minimum deposit of $250. Additional contributions and penalty-free withdrawal available (depending on account).
Locations	over 1,100 locations	3,922 financial centers
	Learn More	Learn More
	TD $300 Beyond Checking Bonus TD $200 Complete Checking Bonus Referral Program - Up to $500 Bonus
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. TD Bank: Pricing information from published website as of 09/27/2024 based on 08034 zip code. Bank of America: Pricing information from published website as of 11/19/2024 based on 91107 zip code.

Wells Fargo
Wells Fargo is another popular bank along the East Coast and throughout the US. While they offer similar bank accounts, they do have higher monthly balance requirements than TD Bank.

Wells Fargo, like TD Bank offers fee waivers for students within certain age brackets.

Chase
Chase Bank offers similar bank products as TD Bank, but they make it easier to get the fees waived. Qualified direct deposit will usually get you free checking at Chase.

If you have Chase credit cards or mortgage loans, you can transfer money between accounts instantly. Chase does offer interest rates on the lower end of the spectrum, though.

	TD BankBank of AmericaUS BankFifth Third BankDiscover Bank Member FDIC	Member FDIC
	Learn More	Visit Site
	TD Bank	Chase
	SPECIAL OFFER TD $300 Beyond Checking Bonus - Learn More	SPECIAL OFFER Chase Bank $300 Bonus - Learn More
	Benefits and Features
Savings	0.02% APY. No minimum deposit. $5.00 monthly fee waived if 1) minimum $300 balance or 2) waived for the first 12 months if with recurring transfer of $25 or more from a TD Bank account or if you're under 18 or 62 and older.	Chase Savings: 0.01% APY. $5 monthly service fee waived with either a $300 daily balance OR $25 automatic transfer every month from a linked Chase checking account, OR a linked Chase College Checking for Overdraft Protection, OR a linked qualifying Chase checking account, OR for owners under 18. $0 to open. Chase Premier Savings: Earn a higher interest rate when you have a bigger balance and meet certain relationship requirements when linked with a Chase Premier Plus Checking or Sapphire Checking account.
CD	1.00% APY (up to 4.50% for Relationship APY). Terms of 3 to 60 months. Minimum deposit of $250. Allows one penalty-free withdrawal (depending on account).	Terms of 1 month to 10 years. $1,000 minimum opening deposit. No monthly service fee.
Checking	TD Complete Checking, TD Beyond Checking, TD Essential Banking	Chase Total Checking® Chase Premier Plus Checking: An interest-bearing account with some perks. $25 monthly service waived with an average beginning day balance of $15,000 OR a Chase mortgage with auto pay. $0 minimum balance to open. Chase Sapphire Checking: A premium checking account for those with $75,000 or more on deposit with Chase. $0 minimum balance to open. Chase College Checking: No monthly service fee for college students age 17-24 at account opening with proof of student status, for up to 5 years. $0 to open. Chase Private Client Checking℠: For high net worth individuals who have $250,000 on deposit with Chase.
Mobile App	iOS & Android	iOS & Android
ATMs	2,600 ATMs throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida	15,000+ Chase ATMs
Customer Service	24/7 Live Customer Service (Telephone)	Automated service available 24/7
Locations	over 1,100 locations	Over 4,700
	Learn More	Visit Site
	TD $300 Beyond Checking Bonus TD $200 Complete Checking Bonus Referral Program - Up to $500 Bonus	Chase Bank $300 Bonus Chase Bank $100 Bonus Chase Business $300 Bonus
TD Bank: Pricing information from published website as of 09/27/2024 based on 08034 zip code. Chase: Pricing information and data points from published website as of 11/20/2024.

Bottom Line

If you live on the East Coast and are near a TD Bank branch, you can enjoy the many benefits the bank accounts have to offer, including its convenient hours of operation.

Even if you don't live on the East Coast, you can enjoy their online banking services nationwide. Since they aren't only an online bank, though, you may find higher interest rates elsewhere.