TD Bank is one of the largest brick-and-mortar banks in the US. On the other hand, American Express Bank is among the best online banks, and both offer a great portfolio of banking services and.
Let's compare them side by side: checking account options, savings accounts, CDs, and loan options.
Checking Accounts
TD Bank wins when it comes to checking accounts.
While Amex offers a better checking account with no monthly fees, interest on the balance, and great online features, TD Bank offers a variety of accounts and features for different needs and physical branches, making it a suitable option for most consumers..
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Account Types
Bank Account | Monthly Fee | APY On Balance |
|---|---|---|
Amex Rewards Checking | $0 | 1.00% |
TD Bank offers various checking accounts for individuals, including for particular audiences such as students and seniors, while most accounts monthly fees can be waived:
TD Checking Account | Monthly Fee | Average Day Balance To Waive |
|---|---|---|
TD Convenience Checking Account | $15 | $100 |
TD Beyond Checking Account | $25 | $2,500 |
TD Simple Checking Account | $5.99 | Can't be waived |
TD Essential Banking | $4.95 | Can't be waived |
TD 60 Plus Checking Account | $10 | $250 |
Student Checking Account | $0 | N/A |
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Features
TD Checking Account | Main Features |
|---|---|
TD Convenience Checking Account | Online banking, mobile deposit, Zelle, debit card |
TD Beyond Checking Account | No ATM fees, 2 overdraft fees reversed, overdraft payback, interest bearing |
TD Simple Checking Account | Online banking, mobile deposit, Zelle, debit card |
TD Essential Banking | digital tools, no overdraft fees, debit card |
TD 60 Plus Checking Account | Interest bearing, free checks, money orders and paper statements |
Student Checking Account | Online banking, mobile deposit, Zelle, debit card |
Amex Rewards Checking lets customers earn Membership Rewards points on eligible Debit Card purchases without any monthly fees. Amex provides round-the-clock customer service and fraud monitoring for added security.
Using the Amex App, mobile check deposits become effortless, and digital transfers make it simple to move money between linked accounts, including the Amex High Yield Savings account.
Moreover, you have the option to add your debit card to your digital wallet, allowing for speedy and convenient payments both in-store and online.
Bank Account | Main Features |
|---|---|
Amex Rewards Checking | Interest on balance, mobile check deposits, digital transfers, debit card with purchase protection, rewards your everyday spending
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Savings Accounts
American Express Bank wins when it comes to savings accounts.
American Express Bank savings accounts offer higher rates than what you can get with TD, with no fees and no minimum. Also, TD's highest savings rates can be earned only if you have a significant deposit.
Both banks don't have money market accounts for regular people.
TD Savings | Amex Savings Account | |
|---|---|---|
Savings Rate | 0.01% – 4.00% | 4.25% |
Minimum Deposit | $0 | $0 |
Fees | $5
Can be waived if you carry $300 minimum account balance or $25+ recurring transfer
| $0 |
Certificate Of Deposits (CDs)
If you need a CD, TD Bank offers better options than American Express.
While Amex rates may be a bit higher, TD Bank offers more CD terms with higher rates than Amex. By that, depositors can leverage this to create a combination of long and short-term CDs.
Both accounts can be opened online. This is great for TD customers, as many other CD account at brick and mortar banks can't be opened online
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American Express CD Rates
CD Term | APY | Early Withdrawal Penalty |
|---|---|---|
12 Months | 4.35% | 270 days interest |
18 Months | 3.25%
| 270 days interest |
24 Months | 4.00% | 270 days interest |
36 Months | 3.00% | 270 days interest |
48 Months | 3.00% | 365 days interest |
60 Months | 3.00% | 540 days interest |
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TD Bank CD Rates
CD Term | APY |
|---|---|
3 Months | 1.00% – 3.00% |
6 Months | 1.00% – 5.00% |
12 Months | 1.00% – 4.50% |
18 Months | 1.00% – 4.00% |
24 Months | 1.00% – 4.00% |
36 Months | 1.00% – 3.51% |
48 Months | 0.05% |
60 Months (Step Rate CD) | 1.00% – 2.50% |
Credit Cards
American Express wins when it comes to credit cards. It is one of the top credit card issuers in the US, with many cards and different types of cards, co-branded cards, and various redemption options.
For everyday spending, there are straightforward cards like the Blue Cash Everyday® Card and the Blue Cash Preferred® Card from American Express. The American Express® Gold Card offers additional rewards for dining, groceries, and flights, which is particularly beneficial for travel enthusiasts.
For avid travelers seeking premium benefits, The Platinum Card® from American Express stands out as one of the best options.
American membership Rewards program provides cardmembers with various benefits and rewards for using their American Express cards. Points can be redeemed for a variety of rewards, including travel, merchandise, gift cards, statement credits, and more.
Card | Rewards | Bonus | Annual Fee |
| Blue Cash Preferred® Card from American Express | 1-6%
6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%) and selected U.S. streaming subscriptions, 3% cash back on transit
and U.S. gas stations, 1% cash back on other purchases
| $250
$250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months
| $95 ($0 intro for the first year) |
|---|---|---|---|---|
| American Express® Gold Card | 1X – 4X
4X points at restaurants (including Uber Eats purchases in the U.S.) and U.S. supermarkets (up to $25,000 per year in purchases, then 1X points), 3X points on flights booked directly with airlines or on amextravel.com, 2X points on rental cars through amextravel.com and 1X points on all other purchases
| 60,000 points
60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases on your new Card in your first 6 months of Card Membership. Plus, receive 20% back in statement credits on eligible purchases made at restaurants worldwide within the first 6 months of Card Membership, up to $100 back. Limited time offer. Offer ends 11/6/24.
| $325 |
| The Platinum Card® from American Express | 1X – 5X
5X points on up to $500,000 spent on directly-booked airfare and flights and prepaid hotels booked through American Express Travel (per calendar year), 2X points on prepaid car rentals through American Express Travel and 1X points on all other purchases
| 80,000 points
80,000 Membership Rewards® points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership
| $695 |
| Delta SkyMiles® Gold American Express Card | 1X – 2X
2X miles on delta purchases, at restaurants worldwide (including take-out and delivery in the U.S) and at U.S. supermarkets, and 1x miles on all other eligible purchases
| 40,000 Miles
40,000 Bonus Miles after you spend $2,000 in purchases on your new Card in your first 6 months
| $150, $0 intro first year |
| Hilton Honors American Express Card | 3X – 7X
7X Hilton Honors Bonus Points for each dollar of eligible purchases charged directly with hotels and resorts within the Hilton portfolio, 5x points at U.S. restaurants (including takeout and delivery) U.S.supermarkets, U.S. gas stations and 3x points for each dollar on other eligible purchases
| 70,000 points
70,000 Hilton Honors Bonus Points after you spend $2,000 in purchases on the Card in the first 6 months of Card Membership
| $0 |
Card | Rewards | Bonus | Annual Fee |
| TD Cash Credit Card | 1% – 3%
3% and 2% Cash Back on your choice of Spend Categories (you can switch your categories quarterly), and 1% Cash Back on all other purchases | $200
$200 Cash Back when you spend $500 within 90 days after account opening | $0 |
|---|---|---|---|---|
| TD Double Up Credit Card | 2%
2% unlimited Cash Back – no rotating Spend Categories, no caps or limits | $150
$150 Cash Back in the form of a statement credit when you spend $1,000 within the first 90 days after account opening | $0 |
| TD FlexPay Credit Card | N/A | 0% Intro APR: 18 billing cycles on balance transfers | $0 |
| TD First Class Visa Signature Credit Card | 1X – 3X
3X First Class miles on travel and dining purchases and 1X First Class miles on all other purchases | 25,000 miles
25,000 miles on $3,000 spent in first 6 cycles | $89 (waived first year) |
| TD Clear Visa Platinum Credit Card | N/A | N/A | $120 / $240 |
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Top Savings Accounts From Our Partners
Quontic High Yield Savings
- 4.50% APY on savings
- Interest is compounded daily
- No Monthly Service Fees
CIT Savings Connect
- Up to 5.00% APY on savings
- No monthly service fees.
- Zelle, Samsung & Apple Pay
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Mortgage And Loans
If you need to borrow money, TD Bank is a better option for borrowers.
TD Bank is more into mortgages for buying homes, refinancing mortgages, loans for home equity and personal loans. On the flip side, Amex offers only personal loans.
Which Bank Is Our Winner?
There is no clear winner in this comparison.
While TD offers a better selection of checking accounts and lending options, Amex is also a great option if you are willing to manage your account online or want to enjoy a great selection of credit cards.
Compare TD Bank
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Compare American Express Bank
Discover Bank is a full-service online bank as well as a provider of payment services. Discover can be used for banking and retirement planning by individuals. Discover is best known for its credit cards with rewards, but it also provides personal, student, and home equity loans.
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How We Compared Amex and TD Bank: Methodology
In our comprehensive banking comparison, The Smart Investor team meticulously reviewed and compared banks across five vital categories:
Checking Accounts (30%): We thoroughly examined features such as direct deposit, debit card availability, monthly fees, ATM and branch access, check deposit, bill pay options, and account alerts. Special offers available to customers were also taken into account.
Savings Accounts and CDs (20%): Our focus centered on critical factors including the Annual Percentage Yield (APY), minimum deposit requirements, account flexibility, FDIC insurance coverage, special savings offers, variety of CDs, automatic renewal options, and early withdrawal penalties.
Credit Cards (15%): We carefully analyzed rewards programs, annual fees, introductory bonuses, travel benefits, APR, and balance transfer options provided by each bank's credit cards to offer a comprehensive comparison of available features.
Lending Options (15%): We evaluated the variety of loan options offered, encompassing personal loans, student loans, mortgages, secured loans, HELOCs, and Home Equity Loans, providing valuable insights into the banks' lending capabilities.
Customer Experience and Bank Reputation (20%): Our assessment included an analysis of online banking and mobile app usability and ratings, accessibility of customer support, online reviews, JD Power research, Trustpilot ratings, and overall financial stability, delivering a holistic perspective on customer experience and reputation.
