- Certificates of deposit
- Customer experience
- Overdraft fees
Overall institution rating
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 Convenience Checking, which has an easily avoidable monthly fee.
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’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.
- No minimum opening deposits on checking and savings accounts.
- 24/7 customer service by phone.
- Highly rated mobile apps.
- Overdraft buffer.
- Low rates on some savings accounts.
- Monthly fees (though some are avoidable).
TD Convenience is the most popular checking option. There's no minimum opening deposit but there is a steep monthly fee of $15. You can get it waived if you maintain a daily balance of at least $100 or if you’re a student who’s 17-23 years old.
» Interested in a sign-up offer? Check out this month’s best bank account bonuses
4.0/5 NerdWallet rating
TD Bank’s Simple Savings account has no minimum deposit to open, but its rate of 0.02% APY is low. And there’s a monthly fee of $5, which is waived if you can maintain a $300 minimum daily balance. For the first 12 months, you can avoid the fee by transferring $25 monthly from a TD checking account. For customers with larger balances, TD Signature Savings can earn a higher rate with a minimum balance of $100,000.
» Want to see more options? Check out NerdWallet’s best savings accounts
Certificates of deposit
1.5/5 NerdWallet rating
TD Choice Promotional CDs have terms from three months to five years, and the bank offers other types of CDs that don’t have penalties or offer annual rate increases. The minimum deposit is $250. You can get a rate increase for TD Choice Promotional CDs with a checking account in good standing, but overall you can find much higher rates elsewhere.
» Want to explore better options? Read NerdWallet's top CD rates this month
TD Bank offers long hours at many branches and 24/7 phone support. Plus, it has more than 2,600 ATMs from Maine to Florida, and customers have free access to TD Bank’s ATMs in Canada. Customers have the option of banking online, or using TD Bank’s mobile banking app, which is available for iOS and Android devices. TD Bank ranked third in the 2022 J.D. Power National Banking Satisfaction Study.
» More for Canadian readers: Check out NerdWallet's review of Canada's TD Bank
TD Bank charges $35 for each overdraft transaction, about the same as many large national banks charge. On top of that, you can be charged up to three overdraft fees a day. The bank won’t charge you these fees if your account is overdrawn by $50 or less.
»Want to compare? See what other banks charge for overdraft fees
How does TD Bank compare?
SoFi Checking and Savings
CIT Bank Platinum Savings
With $0 min. balance for APY
With $5,000 min. balance for APY
Earn up to $300 with direct deposit. Terms apply.
at SoFi Bank, N.A.
at CIT Bank
NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, banking experience and overdraft fees. Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing technology, customer service and innovation. The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.