TD Bank Review: Convenience and Selection

GOBankingRates Score

Our take: TD Bank offers a full range of banking products, robust online and mobile banking platforms, and branch and ATM locations throughout the U.S. East Coast and Canada. In a time when many banks are closing locations and moving to more online banking, TD Bank maintains its status as "America's most convenient bank" by keeping branches open on weekends and some holidays.
  • Accessibility   
  • Breadth of Products
  • Digital Experience
  • Banking Experience
How did we calculate this?


  • Some branches open nearly every day of the year
  • Deposit accounts, loans, investments and retirement accounts all in one place
  • Business accounts can be managed from the U.S. and Canada


  • Higher savings rates available at some online-only banks
  • Branch locations in the U.S. limited to the East Coast

About TD Bank

TD Bank provides banking services at more than 1,200 branch locations and 700 ATMs as well as online banking and a mobile app. It also offers investment services through its TD Ameritrade affiliate and its TD Wealth Private Client Group and TD Financial Services, plus small business and commercial banking services. GOBankingRates has ranked TD Bank as one of the Best Regional Banks of 2021.

TD Bank Products

TD Bank offers a full lineup of deposit accounts, loans and investment products. Customers who have multiple accounts with TD Bank are often rewarded with better interest rates. Here’s a quick look at some of the features the bank offers:

Product Key Features
Checking Accounts
  • Several accounts to choose from
  • Interest-bearing accounts available
  • Low or no maintenance fees
Savings Accounts
  • Relationship rates available
  • Young savers and seniors pay no maintenance fee
Money Market Accounts
  • $2,000 minimum balance to waive monthly maintenance fee
  • No maintenance fee if you’re 62 or older
  • Higher interest rate if you automatically transfer at least $50 a month from a TD Bank checking account
Certificates of Deposit
  • Fixed interest rates
  • Bump rates if you also have a TD Bank checking account
  • Promotional CDs offer higher annual percentage yield on higher balances

TD Bank Checking Accounts

TD Bank has a checking account for just about everybody. You can choose from several different checking account options, ranging from a student account with no monthly fee and no minimum balance to an interest-bearing relationship checking account for those with loans or other accounts at the bank.


  • TD Simple Checking
    This account has no minimum deposit or minimum balance requirement. However, the $5.99 monthly maintenance fee cannot be waived.
  • TD Convenience Checking
    You must maintain a $100 minimum balance if you want to waive the $15 monthly maintenance fee. Account holders get a 0.25% rate discount on TD Bank home equity and personal loans.
  • TD Beyond Checking
    The $25 monthly maintenance fee can be waived with one of the following: a $2,500 minimum daily balance, $5,000 in monthly direct deposits, or a $25,000 combined balance across all TD Bank accounts. Money in this account earns an APY of 0.01%.
  • Student Checking
    Students and young adults ages 17 through 23 can take advantage of no minimum balance and no monthly fees with this account.
  • TD 60 Plus Checking
    This account is for customers who are 60 and older. It pays a 0.01% APY, and you can waive the $10 monthly maintenance fee by maintaining a minimum $250 daily balance.


  • Variety of choices
  • Maintenance fees can be waived with most accounts
  • Interest-bearing options


  • Low APY
  • Simple Checking maintenance fee cannot be waived

TD Bank Savings Accounts

TD Bank offers two savings accounts: Simple Savings and Beyond Savings. In addition to paying interest, both accounts let you waive the monthly maintenance fee by linking to a TD Beyond checking account.


  • TD Beyond Savings
    This account offers tiered interest rates based on your balance as well as a bump rate when you link a home loan, credit card or checking account with transaction requirements. Standard rates range from 0.01% APY for balances under $20,000 to 0.05% APY for balances of $250,000 or more. Bump rates range from 0.01% APY for balances under $20,000 to 0.25% APY for balances of $250,000 or more.
  • TD Simple Savings
    The APY for all balances is 0.02%. To waive the $5 monthly maintenance fee for the first year, you need to make a $25 recurring transfer from your TD Bank checking account. After that, maintaining a $300 minimum balance will let you avoid the fee. Those under 18 or over 62 pay no maintenance fee regardless of balance.


  • Options to avoid maintenance fees
  • Bump rates available if you have other TD Bank accounts
  • No minimum opening deposit


  • Low APY compared to online-only banks
  • High balance requirements to get a bump rate or avoid a fee

TD Bank Money Market Account

A money market account lets you write checks on your savings, giving you easy access to funds. Interest is paid on all your deposits, and the more you save, the higher the rate. GOBankingRates has ranked the TD Growth Money Market account as one of the Best Money Market Accounts of 2021.


The TD Growth Money Market account pays interest on all deposits, with higher rates for higher balances. Plus, you earn a bump rate if you grow the account by $50 or more per month. There’s no minimum opening deposit, and the $12 monthly maintenance fee is waived if you maintain a daily balance of $2,000 or more or if you are 62 or older.

Standard rates:

  • 0.01% APY on balances up to $1,999.99
  • 0.05% APY on balances of $2,000 to $24,999.99
  • 0.10% APY on balances of $25,000 or more

Bump rates:

  • 0.01% APY on balances up to $1,999.99
  • 0.10% APY on balances of $2,000 to $24,999.99
  • 0.15% APY on balances of $25,000 or more


  • Higher interest rates on higher balances
  • Earn a bump rate when you have a recurring transfer from checking


  • Interest rates are low compared to online banks

TD Bank CD Accounts

TD Bank offers promotional CDs with terms of three months, six months and 12 months that give you a bump rate if you also have a TD Bank checking account. There are also TD No-Catch CDs, which allow one withdrawal with no penalty, and TD Step Rate CDs, which offer guaranteed rate increases. GOBankingRates has ranked TD Bank’s CD offerings among the Best CD Accounts of 2021.


Promotional CDs pay higher interest on higher balances and include a bump rate if you also have a TD Bank checking account. The minimum balance is $250. The APY ranges from 0.05% to 0.10% for a promotional bump rate three-month CD. The APY for a five-year CD is 0.05% regardless of balance. Terms of 18 months, 24 months and three years are also available.


  • Higher balances earn higher rates
  • Bump rate when you have a TD Bank checking account
  • Fixed interest for the term of the CD


  • Interest rates are low compared to online banks, especially on non-promotional CDs

Banking Experience

No TD Bank review would be complete without a mention of convenience. The bank’s slogan is “America’s most convenient bank” — and for good reason. Some TD Bank branches are open seven days a week, while others only close on Sundays. Branches remain open on traditional bank holidays like Presidents Day, Columbus Day and Veterans Day. Here are the holidays the bank closes:

  • New Year’s Day
  • Martin Luther King Jr. Day
  • Easter Sunday
  • Memorial Day
  • Independence Day
  • Labor Day
  • Thanksgiving Day
  • Christmas Day

With COVID-19 restrictions, some branches have limited their hours. Some locations offer curbside check-in, so you can wait in your car until someone is ready to see you. There are also limits on the number of customers allowed inside the branch at one time. Be sure to call your local branch ahead of time to learn its hours.

Customer Service

TD Bank customer service is easy to access. The website offers a wealth of information and a list of frequently asked questions. You can speak with a representative by calling 888-751-9000.


TD Bank offers online banking and a mobile app that will help you keep track of your money wherever you are. You can pay bills, transfer funds and deposit checks from your mobile device. You can also send and receive money electronically with Zelle. All you need is the other party’s email address or mobile phone number.

The TD Bank mobile app gets decent reviews from users. It’s available on Google Play, where it has a rating of 4.5 out of 5 stars, and in the App Store, where its rating is 4.8 out of 5 stars.

How To Open a TD Bank Account

It’s easy to open an account online with TD Bank. Here’s how:

  1. Go to the TD Bank website.
  2. Select the product you want, such as a checking or savings account or a CD option.
  3. Click on “Open account” and follow the prompts.
  4. You’ll need to provide your:
    • Name, address, phone number and email address
    • Social Security number or tax identification number
    • Driver’s license or other state-issued ID
    • Account information if you are funding your new account electronically

Key Information

Customer service number: 888-751-9000 (available 24/7)

Routing number: See routing numbers by state

Promotions: See Newest TD Bank Promos and Bonuses

Hours: See TD Bank’s Hours

Login: TD Bank Login Help

TD Bank Fees

Even if you waive your monthly maintenance fees, there are other fees you might be subject to, which can eat into your money. At TD Bank, many common fees are waived for certain accounts. Here are some fees and how you can avoid them:

Fee Amount
Overdraft $35
Overdraft protection transfer $3 (waived for Beyond Checking, Beyond Savings and certain other accounts)
Money orders $5 (waived for Beyond Checking, Beyond Savings and certain other accounts)
Incoming wire transfer $15 (waived for Beyond Checking, Beyond Savings and certain other accounts)
Outgoing domestic wire transfer $30
Outgoing international wire transfer $50
Stop payment fee $30 (waived for Beyond Checking, Beyond Savings and certain other accounts)

TD Bank vs. Competitors

Doing your homework when considering a new bank means looking at more than one option to see how other banks stack up. Here’s how TD Bank compares to some competitor banks.

Bank Best For
TD Bank Convenient hours and all-in-one banking
Chase Credit card options
Wells Fargo Branches nationwide
Bank of America Breadth of products

TD Bank vs. Chase

Chase has myriad credit card options, so if it’s important to have your credit card at the same bank where you have your checking and savings accounts, Chase is worth a look. But TD Bank takes the prize for convenience in terms of branch operating hours.

TD Bank vs. Wells Fargo

Wells Fargo has 7,200 locations and 13,000 ATMs nationwide, so there’s probably one close by no matter where you are. If you’re on the East Coast of the U.S. or in Canada, however, you can visit TD Bank branches over the weekend, which might be important to you.

TD Bank vs. Bank of America

Bank of America offers a dizzying array of products and services, ranging from student checking accounts to million-dollar investment portfolios. But again, TD Bank customers can enjoy more ready access to branches on weekends and certain holidays.

Is TD Bank Good?

TD Bank’s range of deposit, loan, investment and retirement products makes it an excellent choice for people who prefer to keep all their accounts with one bank. The bank also makes it easy for East Coast residents to bank in person, even on weekends. For many consumers, these conveniences will more than make up for less favorable savings rates than many online banks offer.

Editor’s Favorite

TD Bank’s convenient hours make it a great choice for those who like to do their banking in person. And the accounts that encourage regular savings are great for setting up good habits.


Here are the answers to some commonly asked questions about TD Bank.
  • How do I avoid TD Bank's monthly fees?
    • Check the fine print when you open the account. In most cases, you can avoid a fee by keeping a minimum balance in your account, or by having direct deposit.
  • Does TD Bank use Zelle?
    • Yes. TD Bank customers can send and receive money with Zelle. All you need is the other party's email address or mobile phone number. Transfers are instant if the other party is already set up with Zelle.
  • When do checks clear at TD Bank?
    • The first $100 of daily, noncash deposits made at a TD Bank branch or ATM is available immediately. For most deposits, the rest of the deposited funds are available by the end of the next business day. The bank also offers FastFunds if you're in a hurry for your money. For a 3% fee, eligible checks are cleared on the spot when you bring them to a branch.
  • Does TD Bank offer free money for signing up for an account?

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Jan. 6, 2021.

This content is not provided by TD Bank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by TD Bank.

Is this your bank?

Stay Up to Date on the Latest From Your Bank

Keep a good thing going with top financial tips and advice from GOBankingRates.

Please enter an email.
Please enter a valid email address.
There was an unknown error. Please try again later.

Thank You For Signing Up!

Get ready to receive top financial tips from the experts at GOBankingRates.

Take Advantage of our Best Offer(s)

About the Author

Karen Doyle is a personal finance writer with over 20 years’ experience writing about investments, money management and financial planning. Her work has appeared on numerous news and finance websites including GOBankingRates, Yahoo! Finance, MSN, USA Today, CNBC,, and more.

Untitled design (1)
Close popup The GBR Closer icon

Sending you timely financial stories that you can bank on.

Sign up for our daily newsletter for the latest financial news and trending topics.

Please enter an email.
Please enter a valid email address.
There was an unknown error. Please try again later.

For our full Privacy Policy, click here.