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.

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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

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

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

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
Fair
Fees
Fair
TERRIBLE!
TD bank is the absolute worst, my husband and I combined have banked with BMO, CIBC, RBC, and TD. They target students and immigrants yet their customer service, care and retention are terrible. My husband experienced a fraud on his account and after countless phone calls, two meetings with managers they are claiming that he did not report it.... yet he has a claim number from the fraud department when we call. AVOID BANKING WITH TD AT ALL COSTS. Take their promotion to another institution and they can likely match it.
Overall
Customer service
Poor
Website / app
Fair
Rates
Poor
Fees
High
Sneaky With Loans
I obtained a home equity loan. I electronically signed paperwork which I read very carefully. I then had to sign "Closing Documents" (which contained conditions of the loan) and then wait 3 days to decide if I wanted the loan. Everything seemed fine. I got to the bank for closing and had forgotten my reading glasses. The girl said she'd explain everything. Well, after payments went out to 2 credit card companies, I saw on my credit report that one of my accounts had been CLOSED at my request. I found out they sent a letter out with the check stating I was authorizing closure of the account! I don't remember seeing that letter, much less signing it. And no one will give me a copy of the letter WITH my signature. I talked to the corporate loan manager to request they send a letter to Capital One stating that they could reinstate the account and he refused. He insisted it was a condition of the loan, yet in the section of "Conditions" I received ahead of time, it was never mentioned. This bank is becoming very unethical, sneaky and unconcerned with customer satisfaction or retention. I'm not refinancing that home equity loan with another bank and getting away from TD altogether. I'm going to Republic Bank (who used to be Commerce, the bank I loved!).
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