Advertiser Disclosure

Pros

No monthly fee for TD Convenience Checking if you maintain a balance of at least $100.
Many of the 1,200 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.
$5.99 monthly fee on basic checking account can't be avoided.
Earns 0.05% APY on Simple Savings; better rates available elsewhere.

Overall

3.0

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 — but also a $15 monthly fee. To skirt it, you’ll need to make sure you never dip below the $100 minimum daily balance.

Ratings methodology | Updated March 10, 2017

Checking

3.5

You can choose among three main types of TD Bank checking accounts, including TD Simple, a no-minimum-balance account, and the interest-earning TD Premier, for those who carry a balance of $2,500 or more. TD Simple has a mandatory $5.99 fee but 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 Premier) 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 Convenience Checking℠
$15
Monthly fee
$100
Balance to waive monthly fee
Learn moreat TD Bank
TD Premier Checking℠
$25
Monthly fee
$2,500
Balance to waive monthly fee
Learn moreat TD Bank
TD Simple Savings
0.05%
APY
$1
Min. balance for APY
Learn moreat TD Bank
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Overall
Customer service
Poor
Website / app
Fair
Rates
Poor
Fees
High
After 11 years, the fees have become too much
I have been a loyal customer for 11 years, but TD is taking roughly $50 per month in account fees and ATM fees. I switched to M&T bank: no fees on accounts and they even refund ATM fees when I use a non-M&T ATM. Yes, it was inconvenient to change all my electronic credit/debits (direct deposit paycheck, ezpass, Amazon, PayPal, etc.), but it is so gratifying to have that TD account closed.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
SCAM!!
This is a terrible bank. I will not recommended to anyone. They scammed my money and left me with a collection balanced. I opened a checking account online with TD Bank with $100, after a few weeks, I found out that they started charging me for all these weird fees that I didn't sign up for. First, they charged me a "Paper Statement" fee, then a monthly maintenance fee. When I checked my account balance online, I was only left with $24!! I contacted the customer service to close my account, but they refused by telling me that my balance needs to be $0 in order for them to close my account. I was out of the country with limited internet access at the time, so I decided I will resolve the issue when I'm back in the United States. So when I returned home after 3 months out of the country, I found all these collections letter from TD bank saying that I owe a $21 balance...! I called the customer service again asking what's going on, they transferred me to all these different departments because no one knew how to resolve this issue. So finally someone from the Collections Department told me that I had to go to a branch to close my account. When I arrive to the branch, the first thing that they asked if I want to pay my $21 balance. I explained to them that I don't owe them anything and have asked many times to close my account. The woman at the bank refused to issue me a refund and telling me the reason they can't close my account until it's $0 balance because it's good customer service for them to present the closed account check to their customer IN PERSON!! I can't believe my ears! I lost all my money that I used to open the account, Plus, I owe them $21 after TD Bank refused to close my account. WHAT A SCAM!! THIS PLACE SUCKS, DO NOT OPEN AN ACCOUNT WITH THEM.
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