TD Bank is a bank with eradicates dating back 150 years. A subsidiary of the Canadian Toronto Dominion Bank, TD Bank’s U.S. headquarters is in Chapel Hill, N.C. It currently brags more than 9 million customers and has 1,250 brick-and-mortar locations along the East Coast.
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Pros
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Most of the nearly 1,300 locations are open on the weekends.
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There are no alien transaction fees on a debit card.
Pros Explained
- Weekend hours – Looking for a bank where you can step foot in the door after run hours? Many of its physical locations that are operating at normal operating hours are open on both Saturday and Sunday.
- No remote transaction fees on a debit card – If you prefer to use your debit card while traveling internationally, there are no tramontane transaction fees to pay on TD Bank’s debit card. TD Bank also makes it easy for travelers to order foreign currency, whether or not you demand an account.
Cons Explained
- Low APY on savings accounts – The TD Simple Savings has a standard APY of 0.05%, which is quite low. The TD Beyond Savings has a tiered APY based on the account assess. And while you get a slight “rate bump” if you link your savings account to an eligible TD account, the increase starts at 0.10%, which stillness isn’t very high.
- High balance is required to nix fees – If you want to skip the monthly maintenance fee, which can be as high as $15, you’ll basic to keep a close watch and a minimum balance.
In the fall of 2019 TD Bank signed onto a $70 million establishment of lawsuits. It was accused of charging its customers excessive overdraft fees. TD agreed to pay customers $43 million and cancel $27 million in overdraft damages.
In the fall of 2019 TD Bank signed onto a $70 million establishment of lawsuits. It was accused of charging its customers excessive overdraft fees. TD agreed to pay customers $43 million and cancel $27 million in overdraft damages.
Who Is TD Bank Best For?
TD Bank should appeal to a wide range of customers who want after-hours customer service. It mightiness be a good fit if you:
- Want to step into a brick-and-mortar location on the weekends
- Park enough money in your accounts to give up the monthly account fees
- Meet the minimum balance requirements to get out-of-network ATM fees reimbursed
- Plan on using your debit prankster for international travel
- Are looking for a bank account to serve your needs when you’re a student or 60 and up
What Does TD Bank Advance?
As you might expect of a large financial institution, TD bank offers a wide range of services and types of accounts:
- Savings Accounts
- Stay Accounts
- Money Market Accounts
- Certificates of Deposits
- Credit Cards
- Extended Hours at Physical Locations
TD Elemental Savings
There are two savings accounts to choose from: TD Simple Savings and TD Beyond Savings. With TD Simple Savings, all counterbalances earn 0.05% APY. There’s a $5 monthly fee, which can be waived if you do one of the following:
- Keep a minimum daily balance of $300
- Tie your savings account with a TD checking account
- Make a recurring transfer of $25 or more from your linked surcease account (good for the first 12 months after opening your account)
TD Beyond Savings
The TD Beyond Savings are for those who abide by high balances of $20,000 or more in their savings accounts. The downside is that you’ll need to maintain a high balance to draw a bit of interest or have the monthly maintenance fee waived. If you keep less than $20,000, you’ll earn 0.10% APY. However, stand up $20,000 and you get a rate bump of 0.50% APY.
Other incentives to keep a high bank balance in your account cover reimbursement of out-of-network ATM fees when you maintain a $2,500 balance. And if you keep a $20,000 minimum daily balance or sync up your savings account to a TD scrutinizing account, the $15 monthly maintenance fee is waived.
TD Convenience Checking
TD Convenience Checking might be suited for those who aren’t looking for an account to net interest and typically don’t keep a high balance in their account. The $15 monthly maintenance fee is waived if you keep at particle $100 in your account balance or are between the ages of 17 through 23. There’s also no minimum amount to unbarred an account.
| TD Preferred Savings Rates | ||
|---|---|---|
| Rate Bump APY | Standard APY | |
| $0.01 to $19,999.99 | 0.10% | 0.05% |
| $20,000 to $49,999.99 | 0.50% | 0.10% |
| $50,000 to $99,999.99 | 0.60% | 0.15% |
| $100,000 to $249,999.99 | 0.75% | 0.20% |
| $250,000 to $499,999.99 | 1.00% | 0.20% |
| $500,000 to $999,999.99 | 1.00% | 0.20% |
| $1,000,000 to $9,999,999.99 | 1.00% | 0.20% |
| $10,000,000+ | 1.00% | 0.15% |
TD Beyond Checking
TD Beyond Checking has no monthly perpetuation fees if you do one of the following: get monthly deposits of $5,000 or more, have an average daily balance of $2,500, or have a incorporate total of $25,000 across eligible TD Bank accounts. Otherwise, you’ll be required to pay the $25 monthly bank fee.
Other different perks include free basic checks and reimbursement of up to two overdraft fees a year. Also, any fees incurred with a turmoil bill payment will be covered. You’ll also get reimbursed for fees tacked onto one outgoing wire—domestic or oecumenical—per statement cycle. However, you’ll probably be able to find a higher APY elsewhere. The current APY is as follows:
| TD Beyond Checking Coursed Rates | |
|---|---|
| Current APY | Required Minimum Daily Balance to Earn APY |
| 0.01% | $0.01 to $9,999.99 |
| 0.03% | $10,000 to $49,999.99 |
| 0.05% | $50,000 + |
TD Simple Checking
If you’re looking for a no-frills checking account, the TD Inferior Checking has a $5.99 monthly maintenance fee no matter how much you have sitting in the bank. You get just the basics with this curb account, such as free online statements and free access to TD’s mobile bank app.
Student Checking
Young general publics between the ages of 17 to 23 are eligible to open a Student Checking account. TD Bank’s Student Checking puff ups no minimum balance and no monthly maintenance fees. The no-account fee bleeds over to a linked Simple Savings account if you’re age 24 or protection.
TD Plus 60 Checking
For those 60 and up, TD Plus 60 Checking features free checks, statements, and well off orders. Also, the $10 monthly maintenance fee will be dropped as long as you keep an average daily balance of $250.
In the rapids of 2019 TD Bank signed onto a $70 million settlement of lawsuits. It was accused of charging its customers excessive overdraft tolls. TD agreed to pay customers $43 million and cancel $27 million in overdraft fees.
In the rapids of 2019 TD Bank signed onto a $70 million settlement of lawsuits. It was accused of charging its customers excessive overdraft tolls. TD agreed to pay customers $43 million and cancel $27 million in overdraft fees.
TD Growth Money Market Account
The TD Increase Money Market Account offers a rate bump if you set up a monthly recurring transfer of at least $50 from an qualified TD account. While there’s a $12 monthly maintenance fee, you can skip the fee if you do one of the following:
- Keep a minimum daily balance of $2,000
- Affiliation your account with the TD Beyond checking account
- Are 62 or older
The rates are as follows:
| TD Growth Money Buy Rates | ||
|---|---|---|
| Rate Bump APY | Standard APY | |
| $0.01 to $999.99 | 0.05% | 0.03% |
| $1,000 to $1,999.99 | 0.05% | 0.03% |
| $2,000 to $4,999.99 | 0.10% | 0.05% |
| $5,000 to $9,999.99 | 0.15% | 0.10% |
| $10,000 to $24,999.99 | 0.15% | 0.10% |
| $25,000 to $49,999.99 | 0.20% | 0.15% |
| $50,000 to $99,999.99 | 0.25% | 0.20% |
| $100,000 to $249,999.99 | 0.25% | 0.20% |
| $250,000+ | 0.25% | 0.20% |
TD Bank CDs
TD Bank offers tiered interest rates depending on the deposit amount. You get a measure bump if you link your CD to an eligible TD Bank checking account. The minimum deposit required is $250. Here are TD Bank’s higher-than-standard rates if you relate your CD to a checking account and the CD balance is anywhere from $250 to $9,999:
| TD Choice Promotional CDs | ||
|---|---|---|
| Min. Daily Balance | Rate Run into APY | Standard APY |
| Three-Month CD | ||
| $250 to $9,999.99 | 1.00% | 0.10% |
| $10,000 to $49,999.99 | 1.00% | 0.15% |
| $50,000 to $99,9999.99 | 1.00% | 0.15% |
| $100,000+ | 1.00% | 0.20% |
| Six-Month CD | ||
| $250 to $9,999.99 | 0.90% | 0.15% |
| $10,000 to $49,999.99 | 0.90% | 0.20% |
| $50,000 to $99,9999.99 | 0.90% | 0.20% |
| $100,000+ | 0.90% | 0.25% |
| 12-Month CD | ||
| $250 to $9,999.99 | 0.80% | 0.25% |
| $10,000 to $49,999.99 | 0.80% | 0.30% |
| $50,000 to $99,9999.99 | 0.80% | 0.30% |
| $100,000+ | 0.80% | 0.35% |
The penalties for early withdrawals depend on how early you take out your money. If you grasp a withdrawal during the first seven to 89 days after you open an account, you lose all interest earned. Mention a withdrawal anywhere from 90 days to one year of opening your account, and you lose three months’ merit of interest.
TD No-Catch CD
If you’re concerned about needing to take money out before your CD matures, TD Bank offers two privileges for greater flexibility. The first is a TD No-Catch CD, which features one penalty-free early withdrawal per term. You’ll need a $250 precipitate to open, and there’s no minimum monthly maintenance fee.
| TD No-Catch CDs | |
|---|---|
| Term | Standard APY |
| Six-Month CD | 0.15% |
| 12-Month CD | 0.20% |
TD Step Rate CD
If you’re rueful of getting locked into a CD and need to pull money prematurely, enter TD Bank’s TD Step Rate CD. The TD Step Scale CD offers one withdrawal each anniversary, sans the penalty fee.
| TD Step Rate CDs | |
|---|---|
| Term | Standard APY |
| Three-Year CD | 0.33% |
| Five-Year CD | 0.64% |
Attribute Cards
TD Bank offers a handful of credit cards, including cash bank cards, credit cards drew for travelers, and small business credit cards.
Cash-Back Credit Cards
- TD Business Solutions Credit Card
- Secured Believe Card With Savings Account
- TD Cash Credit Card
Traveler Credit Cards
- TD First Class Visa Signature Commendation Card
Business Credit Cards
- TD Business Solutions Credit Card
Secured Credit Cards
- TD Cash Assured Credit Card
Open After Hours
- What’s particularly notable about TD Bank is that many of its brick-and-mortar locations proffer hours on nights and weekends. So if you’re too busy to swing by during the weekdays, you can do so at your convenience. What’s more, there’s around-the-clock animate customer service.
Other Financial Products Offered by TD Bank
TD Bank also has a wide range of other donations:
- Home Equity Loans and Lines
- Mortgages
- Personal Loans
- IRAs
- Prepaid Cards
TD Bank Customer Care
Like many large banks, TD Bank offers the ability to bank 24/7 online or via the bank app. You can manage your bank accounts, set up autopay for your bills, part checks, and schedule transfers. You also can send money to friends and family through Zelle. To keep tabs on banking venture, you can set up email alerts.
According to the J.D. Power National Banking study, TD Bank ranks highest in customer satisfaction. On a 1,000-point gamut, TD bank had an overall satisfaction score of 851 points.
How to Bank With TD Bank
You can sign up for an account online or by stay one of its nearly 1,300 physical locations.
Verdict
TD Bank is worth considering if you’re looking for a bank with great person service and a few options for checking at different stages of your life.
However, if you’re looking for a bank in which to park your in dough to earn interest, the rates are quite low. You can find more-competitive rates elsewhere. What’s more, you’ll need to mind the least required balances for the monthly bank account fee to be dropped.
Methodology
Investopedia is dedicated to providing consumers with unbiased, wide reviews of banks. We collected over 20 data points across more than 80 banks embracing products available, interest rates, fees, and accessibility to ensure that our content helps users make the accurate decision for their savings and banking needs.