TD Bank
Fees
Minimum Deposit
Current Promotion
APY Savings
TD Bank provides a wide range of services and products. Aside from checking and savings accounts, you can also get home equity loans, mortgages, personal loans, investments, and credit cards.
In terms of size, TD Bank bank is one of the 10 largest banks in the United States. This speaks well of their stability when it comes to assets to back up their deposit liabilities. Employing around 27,000 personnel, this is a huge organization.
Today, the bank focuses on delivering award-winning customer service and hassle-free products to customers. TD Bank is still a traditional brick-and-mortar bank in many of its locations. They are present in more than 1,200 sites all over the East Coast. However, they have already made online and mobile banking available to their customers.
TD Bank may be a good option for you if:
- You want a credit card that rewards you for your favorite brands or spending habits.
- You require personal loans.
- You want a little bit higher savings account interest rates than national average.
- Varied Products
- 24/7 Customer Service
- Special Accounts For Students / Seniors
- Promotions
- Low Interest Rates
- Fees
- High Minimum Deposits
How to Find TD Bank ATMs Near Me?
The bank has hundreds of ATMs spread across different parts of the country. You can find the ATM nearest you by using the ATM locator tool.
The tool is a convenient way of locating ATMs in different parts of the country.
Can I Open a TD Bank Account Without SSN?
Yes. If you do not have an SSN, you can still open a TD bank account using an individual Taxpayer Identification Number (ITIN).
The bank will ask you to provide other documents to verify your name, address, and date of birth.
Can I open a TD Bank checking account online?
Yes, TD Bank makes it easy to open a new checking account online. If you’re already a TD Bank customer, you can simply log in and open a new account from your dashboard.
New TD Bank customers can follow the product link on the official website. The application form is quite straightforward and will walk you through the process. You should be able to complete this and be able to start using your new account within a few minutes.
Is TD Bank is ready for recession?
The bank has been operating for 50 years, so it has a solid, consistent history. In fact, during the Great Recession, TD Bank was not only one of the few commercial banks to remain in the real estate market, but it did not need a government bailout.
While no one can predict the future, his should provide consumers with confidence that TD Bank is ready to handle tougher economic times, supporting its customers through a recession.
Can you buy/invest in gold products via TD Bank ?
TD Bank does have an investment arm, which allows customers to access shares, ETFs, bonds and stocks. This provides an avenue to buy or invest in gold stocks and products.
The bank has automated investment options and advisor guidance, so if you’re new to investing, TD Bank can help you to get started. The fees and charges for these services vary, but TD Bank aims to make investing as cost effective as possible.
Is TD Bank worth it for Joint?
TD Bank does offer the facility to open joint accounts for saving and your day to day transactions. Both parties will need to verify their ID and personal details, but once the account is opened, either party can action requests.
This makes it a great option for joint customers who want to co-own a variety of accounts.
TD Bank Bank Review
TD Bank - The Benefits
- 24/7 Customer Service
Unlike many traditional banks, TD has around-the-clock live customer service available for customers.
When many banks are turning to automated responses or form responses, customers can still interact with customer service representatives through their 24/7 hotline.
- Varied Products
The full range of common products and services is a big plus.
This means you don’t have to keep some of your money in a different bank. It’s a physical bank but you can also bank via mobile and online – that’s extra convenient for many.
- Special Accounts For Students / Seniors
Students from 17 through 23 can open their own checking accounts without any minimum opening deposit and minimum daily balance requirement.
The same offer is available for depositors who are 60 years of age or older. Plus, their money earns interest.
- Promotions
TD bank tend to offer promotions and bonuses for new accounts from time to time, so check out at the top of the page to see the current promotion. You can also take a look on our top banking promotions and bonuses guide which is updated for March 2023.
TD Bank - The Drawbacks
- Low Interest Rates
If you want some returns for your money (especially the high minimum daily deposit you must maintain), TD Bank falls short in this area.
Many banks give much better rates for the same amount of money (or even less) that you keep in the bank, so compare savings account is always a good idea.
- Fees
You can escape some of them but once more it will require that you put so much money in your account. For example, many banks do not charge ATM fees but TD still does for non-TD ATMs.
If fees are important for you, take a look at banks that do not offers fees. For example, the amex checking acccount doesn't require maintenance fees at all.
- High Minimum Deposits
This is the downside of banking with brick-and-mortar banks – they need a certain level of deposit liabilities to sustain the overhead.
For customers, it forces you to keep most of your money in accounts that don’t give so many benefits.
Customer Experience
TD Bank's website has a good contact us page with several options for contacting a member of its customer service team. This includes social media and instant messaging. There is, however, no obvious helpline number to call.
Its website has a clean design and is simple to use, providing a good user experience. You can look over and compare products, as well as watch how-to videos and other support materials. The TD Bank app has received ratings of 4.8/5 on Apple and 4.4/5 on Google.
TD Bank Savings Account
| Features | TD Simple Savings | TD Preferred Savings | TD Growth Money Market |
|---|---|---|---|
| Minimum Daily Balance | $0.01 | $0.01 | $0.01 |
| Interest Rate Basis | Fixed | Tiered | Tiered |
| Rate Bump | Not available | Available | Available |
| Daily Balance to Waive The Monthly Fee | $300 | $20,000 | $2,000 |
| Monthly fee | $5 | $15 | $12 |
| ATM Fees | None at TD ATMs | None at TD ATMs; other ATM fees reimbursable if you maintain a $2,500 minimum daily balance | None at TD ATMs |
| Checks | Not available | Not available | Up to 6 checks per month + online Bill Pay |
| Online/Paper Statements | Free | Free | Free |
TD savings accounts have simple features so they are easy to understand. But they are a little inferior in terms of interest rates because you can find much better rates in other banks.
Yes, they have a bump rate scheme and interest tiers but the maximum of $0 is still low compared to what some banks are offering.
Also, there’s a high minimum daily balance for each of the three types of savings account to exempt yourself from the monthly charge. Again, there are banks out there that have eliminated ‘monthly fee’ from their dictionary.
The TD Simple Savings, for example, is a starter account – but not many people can afford the $300 minimum daily balance in their accounts.
TD Bank Checking Account
| Features | TD Beyond Checking | TD Convenience Checking |
|---|---|---|
| Minimum Monthly Balance | $2,500 | $100 |
| Interest on Deposit | Yes | None |
| Free ATM Access | Yes | None |
| Monthly Account Fee | 3 ways to waived monthly fee | Waived for $100 minimum daily balance |
| Fee Reimbursement | Available | None |
| Promotional Bonuses | Available | Available |
There’s nothing really spectacular about this product except maybe the seasonal bonuses to attract new depositors. We noticed the big gap that separates the two types of checking accounts – one for the regular depositor and one for the high-end ones.
Of course, the product with the big minimum deposit carries the most benefits, the best one is that it yields interest to the account holder. Make sure to bring the documents you need to open a bank account.
Certificate Of Deposits (CDs)
Initial Deposit
APY
| Features | TD Choice | TD No-catch | TD Step-rate |
|---|---|---|---|
| Term | 3, 6, 9,12,18 months to 2, 3, 5 years | 6 & 12 months | 3 & 5 years |
| Standard APY | 0.10% to 0.20% | 0.15% | 0.33% to 0.45% |
| Interest | Tiered | Yes | Yes |
| Monthly Fee | None | None | None |
| Bump Rate | Available with eligible TD Checking account | Not available | Not available |
| Minimum Opening Deposit | $250 | $250 | $250 |
| Freebie | None | One penalty-free withdrawal per term | One penalty-free withdrawal at each anniversary |
| Auto-Renew Feature | Available | Available | Available |
| Other Benefits | None | None | Yearly rate increase |
TD Bank’s CDs are mostly run-of-the-mill so don’t expect them to veer away from the standard features. All types require a high minimum opening deposit but the interest rates are not really breathtaking.
At best, the term options for the TD Choice CD would afford the flexibility that some customers may be looking for. Otherwise, other banks offer way more competitive CDs for their interest rates, minimum deposits, and other benefits.
Mortgage & Loans
If you plan to purchase a home soon, TD Bank also provides fixed and adjustable rate mortgages, Jumbo loans, and government loans. Professional mortgage packages are also available.
Term lengths of up to 30 years are common, with down payments as low as 3%. Personal loans of up to $50,000 are available from TD Bank with no origination or application fees. Furthermore, you will receive a lending decision in as little as one business day.
Credit Cards
TD Bank offers a variety of credit cards.
This includes First Class card, which provides 3X First Class miles on travel and dining purchases and 1X First Class miles on all other purchases.
The TD Cash Card has a low introductory APR and a $150 Cash Back when you spend $500 within 90 days after account opening. It also offers nice cash back rate – 3% cash back on dining (including takeout and deliver), 2% at grocery stores and 1% on all other purchases.
There is also a miles card and, for those looking to build credit, a secured card that uses your savings account as a security deposit and offers 1% cash back on purchases.
TD Bank FAQs
TD Bank has a history that dates back over 150 years. It is a subsidiary of Toronto Dominion Bank, but TD bank has a US headquarters in North Carolina. Additionally, deposits up to $250,000 are covered by FDIC insurance, so your funds are protected.
While primarily known for its outside of business hours branches, TD Bank does offer online banking facilities where you can pay bills, deposit checks, send money and manage other aspects of your account. TD Bank uses the latest technology to ensure security with Touch ID and single use security codes. This allows you to access your statements 24/7 and fully manage your account.
TD Bank is a great option if you’re looking for banking services with solid customer support. TD offers options for checking accounts at different stages of your life.
However, the rates are quite low, so if you want to leave money in a savings account, you are likely to find more competitive rates elsewhere. You will also need to consider that many accounts have a minimum balance required to avoid paying management fees.
Both TD and Chase offer checking accounts, savings, investment accounts with mobile features. However, the bank fees differ according to several factors. TD does offer a discount to its fees if you sign up for online statements. You can also have the account fees waived if you meet the criteria.
Chase also offers waivable account fees, but some fees such as the out of network ATM fee is less with Chase.
All in all, TD Bank and Chase are quite similar. If you don’t mind monthly fees and limited access to branches, you may find TD Bank appealing. But, if you prefer access to a widespread network of branches and like the possibility of sign up bonuses, go with Chase.
Capital One offers competitive rates and a variety of banking products. While the rates are similar to TD Bank, there are a few differences that will affect whether you consider TD better than Capital One.
One of the most obvious is the number of ATM locations, as Capital One has over 40,000. However, Capital One is online only, so you won’t have access to a branch as you could with TD Bank.
Another key difference is that TD Bank provides access to phone customer service 24/7.
So, if you’re happy with online transactions and don’t need access to a branch, Capital One is a good choice. However, if you like the idea of easy access to customer support, you may prefer TD Bank.
Savings Account Alternatives
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|  | |
|---|---|---|---|
APY Savings
The annual percentage yield (APY) is a percentage that represents the amount of money or interest earned on your savings account over the course of a year. The APY factored in compound interest. A savings calculator can help you quickly determine how much you'll earn with a given APY.
| 3.40%
| 3.50%
| 3.75% |
Checking Account Fee
The monthly fee on checking account
| $0 | $0 | Not Available |
Checking Minimum Deposit | $0 | $0 | Not Available |
Mobile App Rating | 4.7/5 on iOS, 4.1/5 on Android | 4.9/5 on iOS, 4.2/5 on Android | 4.9/5 on iOS, 4.3/5 on Android |
BBB Rating | C | A+ | A+
|
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