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TD Bank Review 2022

Updated November 18, 2022
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At a glance

3.6
Rating: 3.6 stars out of 5
Bankrate Score
Caret Down

CDs

Rating: 3 stars out of 5

Checking

Rating: 4.4 stars out of 5

Savings

Rating: 2.7 stars out of 5

About Bankrate Score

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Overview

If you’re looking for the ability to visit a branch any day of the week (including Sundays) and live on the East Coast, then TD Bank may be a good fit for you. Many locations are open seven days a week. But if you want a bank that offers top savings rates, you’ll have to look elsewhere.

Highlights

  • 24/7 Customer Service
  • Digital Leader
  • Large Branch Network
Compare offers
Bank logo
Member FDIC
Savings Account
3.00
%
APY
Rating: 3.6 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
3.00
%
APY
Rating: 3.6 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
3.85
%
APY
Rating: 3.6 stars out of 5
$0
Min. balance for APY
View offer Arrow Right

Overall

TD Bank bills itself as “America’s Most Convenient Bank” because many of its branches are open for extended hours, seven days a week — as well as some holidays. It also offers customers access to nearly 2,700 ATMs. However, those seeking deposit accounts that pay competitive rates and charge lower fees may need to look elsewhere.

Pros

  • Checkmark

    Branches offer extended lobby hours and weekend availability.

  • Checkmark

    Customers have access to a robust set of digital banking features, including Zelle, remote check deposit and online bill pay.

  • Checkmark

    A lost debit card can be replaced and picked up curbside the day you report it to the bank, or the next day.

Cons

  • APYs are generally below the national average. Higher yields can be found at online banks and many credit unions.

  • To avoid monthly fees, customers need to meet minimum requirements for most checking and savings accounts.

  • There is a $3 fee for using a non-TD Bank ATM.

  • Overdraft fee is $35 per transaction and can be charged up to three times a day.

TD Bank bank products

2.7
Rating: 2.7 stars out of 5
Bankrate Score

TD Bank savings overview

TD Bank offers customers a few options for savings. With its Simple Savings account, you can earn interest, but it comes with a $5 monthly fee. Luckily there are a few options available for getting the fee waived, such as keeping at least $300 in the account. Students and seniors do not have to pay the fee, either.

Customers who choose the Signature Savings account get access to tiered rates and other perks such as free money orders, incoming wire transfers and non-TD ATM reimbursements. One downside is the hefty $15 monthly fee. It can be waived, although you’ll need to maintain a daily balance of $10,000 or more.

Pros

  • Checkmark

    No minimum deposit is needed to open an account.

  • Checkmark

    Signature Savings accounts earn a higher rate when paired with a qualifying TD checking account.

Cons

  • Standard rates are below the national average.

  • Signature Savings customers need an account balance of at least $10,000 to avoid a $15 monthly service fee.

Compare Offer
Bank logo
Member FDIC
Savings Account
3.00
%
APY
Rating: 3.6 stars out of 5
InfoHover for more
$0
Min balance for APY

Bank experience

If your definition of convenience includes longer branch hours, TD Bank may serve you well. The branches tend to stay open late, and many are also open on Saturdays and Sundays.

TD Bank won’t let you down on the digital banking tools it makes available, either. TD Bank has all the features you’d expect, like Zelle, online transfers and account alerts. You can also open an account through its mobile app.

A live customer service representative is available by phone 24 hours a day, seven days a week. TD Bank also offers voice-recognition technology to validate customers’ identity when speaking with a customer service representative by phone. The service is free, but enrollment is required.

About TD Bank

The origins of TD Bank can be traced back to 1855 when its predecessor, The Bank of Toronto, was founded. Today, the bank maintains more than 1,100 branches along the East Coast from Maine to Florida. TD Bank describes itself as “America’s Most Convenient Bank,” with many of its branches open for extended hours, seven days a week.

The bank offers a full suite of products, including checking and savings accounts, as well as credit cards, personal loans and mortgages.

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.