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.
What banking products does TD Bank offer?
Personal checking accounts
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 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 for $10 million or more. Bump rates up even further by linking an eligible mortgage, home equity, credit card or checking account.
Business accounts
TD Business Premier Checking. A $200 initial deposit is required to open this account. The $30 monthly maintenance fee can be waived with $40,000 in combined business deposits and a linked personal checking account, or enrollment in Active TD Merchant Solutions or Active TD Digital Express or by taking out a TD Small Business Loan or Line of Credit. Deposit $30,000 in cash for free each statement cycle. Make up to 500 transactions before incurring a $.35 fee.
TD Business Convenience Checking Plus. Deposit $100 to open the account and get the $25 monthly fee waived by maintaining a balance of at least $1,500. Deposit up to $10,000 cash per statement cycle for free. Make 500 payments or deposits before paying a $.50 fee per transaction.
TD Business Simple Checking. There’s a flat monthly maintenance fee of $10 that can’t be waived, and a required initial deposit of $25. Deposit up to $5,000 cash per statement cycle for free and make 200 payments or deposits before paying a $.75 fee per transaction.
TD Small Business Premium Money Market. Save for planned and unplanned expenses with TD Bank’s highest interest option for small businesses, though specific rates vary by location. The $15 monthly maintenance fee can be waived by maintaining a minimum daily balance of $2,500. Open an account with an initial deposit of $25.
TD Business Savings. Waive the $5 monthly maintenance fee by maintaining a $5 daily balance. Expect an APY of .05%. Start earning interest by depositing a penny.
Mortgage loans. Build or buy a new home, or refinance the one you have. TD Bank’s monthly mortgage calculator helps you estimate rates in advance.
Home equity. Take out a loan to help finance major purchases. Calculate your estimated rate and payment online.
Credit cards. It offers two credit cards for personal use and one for businesses. Earn cash back and points as you spend.
Personal loans. Choose from an express or unsecured loan, an unsecured line of credit, or a secured personal loan.
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:
Connecticut
Delaware
Florida
Maine
Maryland
Massachusetts
New Hampshire
New Jersey
New York
North Carolina
Pennsylvania
Rhode Island
South Carolina
Vermont
Virginia
Washington, DC
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.
Checking accounts
Pros
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.
Cons
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.
Savings accounts
Pros
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.
Cons
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.
CDs
Pros
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.
Cons
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.
Overall banking
Pros
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.
Cons
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 Better Business Bureau 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.
X (formerlyTwitter): Send a DM to @TDBank_US.
Bottom line
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.
What is the TD Bank routing number? Routing numbers vary depending on which state your account was opened in. Locate yours below:
Connecticut: 011103093
Florida: 067014822
Maine: 211274450
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
Pennsylvania: 036001808
Vermont: 011600033
Where do I mail in a deposit to TD Bank? Send 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.
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Amy Stoltenberg managed newsletters at Finder, gathering the best articles each week to help subscribers save money and stretch their hard-earned dollars. She also handles the Twitter account, dabbling in Instagram and Facebook too. When she's not on the computer, you can find her exploring Los Angeles with a good book in tow. She studied writing at Savannah College of Art and Design and has been featured on the Zoe Report. See full bio
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Cassidy Horton is a freelance personal finance copywriter and past contributing writer for Finder. Her writing and banking expertise have been featured in Forbes Advisor, Money, The Balance, Money Under 30, Insure.com, and other top digital publishers. She holds a BS in public relations and an MBA from Georgia Southern University. See full bio
Enjoy surcharge-free ATM access and opportunities to waive fees, but rates vary by state and transfers are limited.
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