TD Bank Review: Checking, Savings and CDs

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. But TD does have two unusual perks: long branch hours and free ATMs in Canada as well as in the U.S. Its most attractive account may be TD Complete Checking, which has an avoidable monthly fee.

TD Bank is one of NerdWallet’s overall lowest-rated financial institutions due to its low interest rates, high overdraft fee and its recent enforcement action (more information below). If you’re looking for higher rates or better overdraft policies, check out NerdWallet’s picks for the best high-yield savings accounts and the best banks for overdrafts.

Accounts are available in Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia and Washington, D.C.

Best for: East Coast customers who would take advantage of TD Bank’s many branches and long hours, keep a bit of a buffer in their checking and savings accounts and don’t care about maximizing interest.

NerdWallet star-rating penalty for CFPB enforcement action, Sept. 11, 2024: TD Bank was ordered to pay $28 million by the Consumer Financial Protection Bureau. The CFPB found three illegal practices: Failing to correct credit card reporting errors, sharing fake and negative bank account information with consumer reporting agencies (which can affect consumers’ eligibility when applying at new banks) and refusing to investigate or resolve consumer complaints. Hundreds of thousands of bank accounts were affected. NerdWallet deducted 0.5 star from TD Bank’s overall rating because of the negative impact of the actions discovered. See more from the CFPB’s statement or read about our penalties on our methodology page.