If you live in a state that it services, TD Bank can be a one-stop shop for your personal financial needs. Checking and savings accounts are tiered and more perks are awarded for higher balances, though maintenance fees can get steep.
All of TD Bank‘s checking accounts have free in-network ATMs and are FDIC-insured up to $250,000. Other features include:
TD Simple Checking℠. A bare-bones checking account with a flat $5.99 monthly maintenance fee. But you do qualify for a .25% HELOC discount.
TD Convenience Checking℠.Waive the $15 monthly maintenance fee by maintaining a $100 daily balance – or being between the ages of 17 and 23, in which case you can skip the fee altogether. You’ll also get a .25% discount on TD Bank Home Equity and Personal Loans.
TD Beyond Checking.Skip fees at non-TD ATMs by maintaining a balance of $2,500. Get automatic overdraft reimbursement two times per year, and earn interest on your balance. Waive the monthly maintenance fees with at least a $5,000 direct deposit, maintaining a minimum daily balance of $2,500, or maintaining a combined balance of $25,000 across your accounts. Get free check and money orders, too.
TD 60 Plus Checking℠. If you’re 60 or older, you’ll qualify for this interest-earning account. You can waive the $10 monthly maintenance fee by maintaining a $250 daily balance, and checks, money orders, and paper statements are all free. Plus, get a .25% discount on TD Bank Home Equity and Personal Loans.
TD Ameritrade Cash Management.This account lets you conveniently access and manage uninvested funds.
Personal savings accounts
Get access to bill pay and a rate bump when you link your savings account to a TD Bank Checking account. You can write up to six checks a month with one of these savings accounts:
TD Growth Money Market. The $12 monthly maintenance fee can be waived with a $2,000 account minimum — unless you’re 62 or older, in which case you can skip it altogether. Tiered rates increase your interest as you save, and standard rates range from .03% APY for $.01 to $999 to .30% APY for $250,000 or more. Get rates bumped up even further if you deposit at least $50 a month.
TD Preferred Savings. To waive the $15 monthly maintenance fee, maintain a balance of at least $20,000. Get free ATM withdrawals at any bank by maintaining a $2,500 daily balance. Incoming wire transfers, bank checks, money orders, and stop payments are free, too. Tiered interest increases as you save, and standard rates range from .05% APY for $.01 to $19,999 to 0.05% for $10 million or more. Bump rates up even further by linking an eligible mortgage, home equity, credit card or checking account.
Small business banking. Get access to checking and savings accounts for your small business, as well as CDs, loans and credit lines.
Commercial banking. It offers checking and money market accounts, plus loans, CDs, and credit lines for established companies.
It offers a host of financial products for personal and business financial management. However, TD Bank is only available to people living in these states:
How does it compare to other banks or services?
TD Bank is ranked 7th in the nation for total number of domestic deposits, landing just beneath Capital One and US Bank. Its tagline is “America’s Most Convenient Bank,” and has extended hours on weekends and evenings to help substantiate that claim.
Compared to other national banks, it has the 8th most physical locations. If you live in a state on the East Coast, you’ll have access to over 1,300 branch locations and 1,900 ATMs from Maine to Florida.
Low opening deposits. You can open most checking accounts with as little as $0.
Several account options. This bank offers four personal checking accounts and three business checking accounts.
No foreign transaction fees. TD Bank doesn’t have foreign transaction fees and you can find free ATMs in parts of Canada.
Overdraft forgiveness. If you have a TD Beyond Checking account, TD Bank refunds two overdrafts per year.
Complicated fee structures. If you’re younger than 24 or older than 61, getting the monthly fee waived requires you to maintain a somewhat hefty balance, and for its Simple Checking account you’re stuck paying the $5.99 no matter what.
Service fees. You’ll pay $30 for outgoing domestic wire transfers and $35 for overdraft charges, up to 5 times a day. These fees are on top of potential monthly fees.
Small ATM network. TD Bank has around 2,000 ATMs scattered along the East Coast, which is far fewer than other banks.
Tiered rates encourage savings. Interest increases as you put money away, an added perk that can help incentivize savings.
Relationship rates. Earn a higher APY when you keep your checking and savings account with TD Bank.
Low opening deposits for savings accounts. Most TD Bank savings accounts have low opening deposits, but you may need to maintain a high daily average balance to earn interest.
Less competitive APY on savings accounts. Even at its highest rates, TD Bank‘s savings account APYs don’t top 1%, which means it isn’t the most competitive option on the market.
Monthly fees. TD Bank doesn’t offer any free savings accounts, but there are several ways to avoid the monthly fees its accounts do have.
High minimum deposit for money market. If you want to open a TD Growth Money Market account, you’ll need at least $2,000 to get started.
Low opening deposit. You only need $250 to open a TD Bank CD and you won’t pay any monthly fees to maintain your account.
Wide range of terms. CD terms range from three months to five years.
Several CD options. Choose a no-penalty CD if you want one free withdrawal per term, a Step Rate CD if you want a guaranteed rate increase or a regular CD if you want to lock in the highest APY.
Low APYs. Current TD Bank checking customers can take advantage of higher, relationship CD rates, but even these are lower than the rates offered by other banks.
APYs vary by location. CD interest rates vary by state, so you’ll need to visit the bank’s website to find current rates in your area.
Early withdrawal penalty. Unless you have a no-penalty CD, you’ll pay a fee if you need to access your money before your CD term ends.
Emphasis on convenience. TD Bank’s extended hours offer greater flexibility, since most banks close at noon on Saturdays and remain closed on Sundays. Plus, customer service is available by phone 24/7.
Access for people with disabilities. ATMs ate designed to meet wheelchair height and reach requirements. It also has telecommunication relay services for callers who are Deaf, hard-of-hearing, blind or speech-impaired.
Limited national presence. Even if the East Coast is your home base, if you travel regularly TD Bank‘s regional limitations could be inconvenient.
Some accounts must be opened in-person. Not all TD Bank accounts can be opened online. Some require you to fill out an application at a local branch.
Low APYs overall. As a whole, TD Bank has low APYs and high monthly fees. Unless you can meet its strict account requirements, you may pay more in fees each month than you’d earn in interest.
The BBB gave it an A+ rating, and it’s been officially accredited there since 2002. An average of 25 customer reviews average out to just one star, but that’s pretty normal for complaints about similarly sized banks. There are about 9,700 complaints on the CFPB website, but nearly all of them indicate a timely response.
It’s a member of the FDIC, and the FFIEC has reviewed most branch locations as “outstanding” or “satisfactory.” In 2018, it was rated the Best Bank for Seniors by Money Magazine, and it tied for #1 in Global Finance World’s list of 50 Safest Commercial Banks.
TD Bank customer service
Get support from TD Bank through one of the below:
Phone: For online banking support, call 888-751-9000, open 24/7.
Facebook Messenger: Send a general question or comment through the social network’s IM.
Branch: Make an appointment online or drop in to a branch location for face-to-face service.
Twitter: Send a DM to @TDBank_US.
TD Bank‘s expanded access may be appealing if it syncs with your lifestyle. But if you’re hoping for service with nationwide presence or simpler account structures, shop around to find a better fit.
Frequently asked questions.
Routing numbers vary depending on which state your account was opened in. Locate yours below:
Massachusetts and Rhode Island: 211370545
Metro DC, Maryland and Virginia: 054001725
New Hampshire: 011400071
New Jersey and Delaware: 031201360
New York – Metro NYC or former Commerce customers: 026013673
New York – Upstate NY or former Banknorth customers: 021302567
North Carolina and South Carolina: 053902197
Yes. Mail your deposit to:
TD Bank, N.A. ME2-001-033 PO Box 1190 Lewiston, ME 04243
Include your account information, and the total deposit amount. TD Bank will mail you a receipt.
Yes. It follows a typical bank holiday schedule, and is closed on New Year’s Day, Martin Luther King, Jr. Day, Easter, Memorial Day, Independence Day, Labor Day, Thanksgiving Day and Christmas — though online banking is accessible all year round.
Amy Stoltenberg is a staff writer covering all things travel, shopping and lifestyle. After earning a BA at Savannah College of Art and Design, she worked as technical designer in corporate fashion before opting for a career with unlimited travel time. When her laptop's closed, you can find her wandering around Los Angeles looking for hole-in-the-wall eateries and plotting her way to all 50 states (she's currently at 28).
Enjoy surcharge-free ATM access and opportunities to waive fees, but rates vary by state and transfers are limited.
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