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TD Beyond Checking review

A checking account with a $300 signup bonus, multiple fee reimbursements and three ways to avoid the $25 monthly fee

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Our verdict

The Beyond Checking account is TD's premier account and is best suited for those in need of a full-service bank. The account can offer TD lending discounts, the ability to waive monthly fees on other deposit accounts, monthly ATM out-of-network fee reimbursements and a small 0.01% APY. There are also no foreign debit card transaction fees, a big perk for globetrotters. However, beware of the $25 monthly maintenance fee. There are ways to waive it, but it's not easy, such as maintaining a high daily balance of at least $2,500 — that daily balance is also required to get the out-of-network ATM reimbursements.

Best for: Frequent travelers in need of a full-service bank.

Pros
  • $0 opening deposit
  • Overdraft payback and protection features
  • No foreign transaction fees
  • Out-of-network ATM reimbursements
Cons
  • High $25 monthly fee
  • May be tough to waive monthly fee,$35 overdraft fee
2.4

★★★★★

Finder rating

Learn more

Who is TD Beyond Checking best for?

TD Beyond Checking may be best suited for someone in need of a full-service bank. TD offers checking, savings, certificates of deposit, mortgages and much more. Having the TD Beyond Checking account means you can waive monthly fees with other eligible TD deposit accounts. You can also get possible discounts on TD lending products and overdraft protection if you pair it with select savings accounts.

But the account is only worth it if you can waive the high $25 monthly maintenance fee. Waiving the monthly fee either requires direct deposits of at least $5,000 or maintaining a minimum daily balance of at least $2,500 or holding a combined balance of at least $25,000 across all eligible TD accounts. These minimums may not be easy for everyone to meet.

It’s also best for those who live on the East coast, as branches are only available in that region.

What we like about TD Beyond Checking

TD Bank is a full-service, FDIC-insured bank that’s been in business for over 150 years. Thanks to FDIC insurance, your TD deposit accounts are protected up to $250,000.

With the TD Beyond Checking account, you don’t need an opening deposit to get started. And the bank regularly offers signup bonuses for its checking accounts, which could earn you some extra cash.

You can also get overdraft protection by pairing it with an eligible TD savings account and enjoy ATM reimbursements if you meet balance requirements. With a Beyond Checking account, you can waive monthly maintenance fees on other accounts, such as the TD Savings or Money Market account.

Other perks include earning discounts on TD lending products, such as personal or home equity loans if you meet requirements. You’ll also get one outgoing domestic or international wire transfer fee covered per month, which is normally between $30 to $50 per transaction.

The account is interest-bearing, offering a small 0.01% APY. While the rate isn’t that impressive, interest-bearing checking accounts are rare. However, the APY is way below the current national average of 0.07% for checking accounts, as reported by the FDIC.

Where it falls short

If you can’t waive the monthly maintenance fee, paying a $25 month to keep the account open may not be worth the perks — that’s $300 annually. And half of the perks involve other accounts or loans with TD, making the fee only worth it if TD becomes your go-to bank.

Many high fees to watch out for

In addition to the high monthly fee, TD charges a myriad of other fees, such as a $35 overdraft fee, $30 for outgoing domestic wire transfers and over $50 for outgoing international wire transfers.

While TD offers ATM reimbursements, you’ll need to maintain a daily balance of at least $2,500 to qualify.
You may need those ATM reimbursements if you visit ATMs regularly, because TD only has branches on the East coast and only about 2,600 ATMs in its network. This is far fewer than many other big banks, such as Wells Fargo‘s network of over 12,000, Chase‘s network of over 16,000 and Discover‘s massive 400,000 ATM network.

If you can’t waive the $25 monthly fee but still want to go with TD Bank, consider its most popular checking account, the TD Convenience Checking. It has a lower $15 monthly fee that’s much easier to waive than Beyond Checking’s fee. You’ll need to maintain a $100 minimum daily balance to waive that one. Account holders aged 17 to 23 also won’t have to pay the monthly fee.

TD Beyond Checking’s fees and access

Type of feeFee details
Monthly service$25, can be waived by:
  • Making direct deposits of at least $5,000 per month
  • Maintaining a minimum daily balance of at least $2,500
  • Holding a combined balance of at least $25,000 across all eligible TD accounts
Opening deposit$0
ATMs
  • Domestic: $0 within network, $0 out-of-network fee
  • International: $0
Debit card fees
  • Cash withdrawals: $0 within ATM network
  • Foreign transactions: $0
  • Card replacement: $0
Overdraft or nonsufficient fundsFirst two are waived, then it’s $35 per overdraft.
Wire transfers
  • Incoming
    • Domestic: $0
    • International: $0
  • Outgoing
    • Domestic: $30
    • International: $50, plus exchange rate, taxes and correspondent fees
Other fees
  • Monthly paper statements: $0
  • Statements with check copies or deposit slips only, per statement: $5
  • Paper statements with check copies and deposits: $25
  • Returned item: $15
  • Rush bill pay: $2.50
  • Money orders/cashier checks: $0
  • Account closure: $0

Compare TD Beyond Checking to other checking accounts

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0.50% on balances of $0+
1.20% on balances of $0+
Get up to $300 cash bonus with qualifying direct deposit. Terms apply. This offer is available until June 30, 2024.
Earn up to 4.60% APY on savings by meeting deposit requirements, and 0.50% APY on checking balances. Members without deposit requirements will earn 0.50% APY on both savings and checking balances. Turn on automatic savings or use the Roundups feature to help you reach your savings goals faster. Get up to $2M of additional FDIC insurance through a network of participating banks.
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Customer experience

TD Bank doesn’t do well in terms of complaints and customer reviews. While that isn’t rare among financial institutions, it’s not ideal either. TD Bank is accredited with the Better Business Bureau (BBB) and holds the highest rating of A+, which is based on how well a business interacts with its customers and responds to complaints. And the bank isn’t a stranger to complaints.

TD Bank has over 1,500 customer complaints in the last three years on its BBB profile, most of which are unique grievances around TD’s loan products and issues resolving fraudulent activity or charges. However, TD Bank makes an effort to respond and resolve these issues — probably why it was awarded the highest-possible BBB rating despite the large volume of complaints.

On Trustpilot, TD Bank isn’t doing too well, either. The reviews are overwhelmingly negative, with many customers expressing difficulty reaching customer service and then receiving poor customer service.

Frequently asked questions

Can I open an account if I am not a US citizen?

Yes. But you’ll most likely need to visit a branch and may be required to supply additional personal information.

Checking account ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top checking accounts and rate them one to five stars based on factors that are most important to you. These factors include: monthly fees, the ease at which monthly fees can be waived, the breadth of ATM access, ATM and overdraft fees, and customer service.

Read the full methodology of how we rate checking accounts.

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