Pros

No monthly fee for TD Convenience Checking if you maintain a balance of at least $100.
Many of the nearly 1,300 East Coast locations are open seven days a week.
$150 sign-up bonus for Convenience Checking customers.
No foreign debit card transaction fees.

Cons

$3 fee for non-TD Bank ATMs with TD Simple and TD Convenience checking accounts.
Earns 0.05% APY on Simple Savings; better rates available elsewhere.

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

Overall

3.5

At TD Bank, a brick-and-mortar bank with a strong presence in the Eastern U.S., you’ll find straightforward accounts with average features. TD’s most attractive account may be Convenience Checking, which comes with a cool $150 bonus. To skirt the account’s $15 monthly fee, you’ll need to make sure you never dip below the $100 minimum daily balance.

 

Ratings methodology | Updated Jan. 8, 2019

Checking

4.0

You can choose among three main types of TD Bank checking accounts, including TD Simple, a no-minimum-balance account, and TD Beyond, where you’ll earn a small amount of interest. The drawback for TD Simple: It has a mandatory monthly fee of $5.99, but there are no transaction requirements.

 

To qualify for a bonus of $150 or $300, new customers need to open a checking account online and receive direct deposits of at least $500 (TD Convenience) or $2,500 (TD Beyond) within the first 60 days.

 

Also of note: If you travel, TD Bank offers a nice perk — no foreign debit card transaction fees. And for customers who visit Canada, there’s no charge to use TD Canada Trust ATMs.

TD Simple Savings
APY
0.05%
Min. balance for APY
$1

at TD Bank,

Member, FDIC

TD Beyond Checking
APY
0.01%
Monthly fee
$25
Balance to waive monthly fee
$2,500

at TD Bank,

Member, FDIC

Certificate of Deposit
APY
0.60%
Min. balance for APY
$10,000
Length of term
5 years

at TD Bank,

Member, FDIC

How does TD Bank compare?

TD Bank

TD Simple Savings

NerdWallet Rating

at TD Bank,

Member, FDIC

APY

0.05%

Monthly Fees

$5

Bonus features

Mobile-friendly

Goldman Sachs Bank USA

Online Savings

NerdWallet Rating

at Goldman Sachs Bank USA,

Member, FDIC

APY

2.15%

Monthly Fees

$0

Bonus features

No Monthly Fee

Competitive APY

HSBC

Online Savings Account

NerdWallet Rating

at HSBC,

Member, FDIC

APY

2.30%

Monthly Fees

$0

Bonus features

Competitive APY

No Monthly Fee

Not for you? Read more bank reviews
NerdWallet reviews are the result of independent research by our editorial team while accountholder reviews are contributions from independent users not affiliated with NerdWallet. Banks, issuers and credit card companies are not responsible for any content posted on the NerdWallet site, nor do they endorse or guarantee any posted comments or reviews.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
No good
I am currently changing my bank to a more customer centered bank. TD Bank’s fees can add up monthly. There is no functional account for anyone living in middle class. Unfortunately, they operate as all big banks do and that does not put the customer first. I feel as though there is always a better bank out there and I can see many other customers have had the same issues reading reviews. The have the most flexible hours which makes it hard to leave but when fees become an issue that’s when you have to rethink why you bank with a company. I hope with all of the feedback they can reset their ways. I am switching banks and because I planned to close my account they told me I would get a $15 fee if it fell before the monthly statement which to me was then grasping at pennies and taking advantage of a customer leaving their bank. They said they would make sure to give the money back if it fell within guidelines but unfortunately with all of the small print it’s not a chance I’m willing to take. I recommend finding a smaller bank and supporting smaller branches. TD Bank will not be a recommendation from me in any future banking matters.
Overall
Customer service
Good
Website / app
Poor
Rates
Fair
Fees
Fair
No one called about a $3000 charge to a foreign country
I've had accounts with TD for about 9 years. I made my first checking account when I was 16 and had my father co-sign. This was my main account for years. Recently, my father's account information was stolen and therefore my money from that account was stolen. Someone had spent over $3000 of my parents' money in Germany and no one from TD had contacted them about a suspicious charge. The customer reps were very helpful and I was able to close my old account and transfer funds to a new checking account with just my name on it (I made this account months ago). I had to deposit a paper paycheck for one cycle so that my job can confirm the direct deposit for future cycles. I deposited my check on 7/5. On 7/10, the money from my paycheck was removed from my account and it said there was a hold on it. I called and they were very nice, but apparently a 6-day hold was placed on my paycheck because my account was too new and it was over $1000. I have had this account for months at this point. I was told my money won't be put in my account until 7/16...11 days after I deposited it. I have had to take out a huge chunk of my savings to cover bills that were supposed to be paid with this paycheck. I'm just very disappointed with TD.
Some of the reviews on the NerdWallet site were purchased through a third party provider. Users who post a review directly on the NerdWallet site will not be compensated in any way. Please see our Terms of Use and Posting Guidelines for more information.