TD Bank was founded in Canada in 1855 as The Bank of Toronto. It remains based in Canada, but is the 10th largest bank in the United States, with more than 1,700 branches on the East Coast. It offers a full range of in-person and online banking services in the U.S., including checking and savings accounts, certificates of deposit (CD), and credit options.
All prices and fees are effective August 21, 2024 and are subject to change.
TD Bank
| Current accounts: | Starting at $0 per month, with qualifying activities |
| Savings accounts: | Open with just $0 |
| CD rates: | Earn up to 5.10% annual percentage rate (APY) |
TD Bank tariffs and products
At TD Bank, you can choose from three checking accounts, two savings accounts, and several CD options.
Current accounts
TD Bank offers three checking accounts. None of them require a minimum balance and all accounts come with Zelle and Bill Pay.
TD Bank doesn’t offer free checking accounts. However, Complete Checking and Beyond Checking offer fee waivers if you meet certain requirements, including maintaining a minimum balance or setting up direct deposit. You can also get fee waivers if you’re a student or under 23.
Complete Checking and Beyond Checking also offer welcome bonuses when you set up a direct deposit with the required amounts.
Savings accounts
TD Bank offers two savings accounts. Both have a monthly fee that can be waived with certain activities. The interest rates on these accounts are not impressive, especially for lower balances. If you want to earn a higher annual interest rate on your savings, consider a high-interest savings account.
TD Bank savings rates compared to current top rates*
Although TD Bank is a good option, there are some institutions that offer higher interest rates. Compare the above rates with this list of competitors:
Certificates of deposit
TD Bank offers a variety of CDs with terms ranging from three months to five years. Interest rates depend on whether you have other accounts with TD. If you have a relationship with the bank, you’ll get a higher interest rate, but you can probably still find better CD rates elsewhere.
The promotional CDs and step rate CDs have early withdrawal penalties if you need to take your money out before the CD matures. However, there is a no-catch CD that allows one withdrawal per term. Unfortunately, the APY on this CD is so low that you’re probably better off with a high-yield savings account.
Other services offered by TD Bank
As a full-service bank, TD also offers a variety of other products, including:
- Credit cards: TD offers three credit cards. The TD Double Up Credit Card and the TD Cash Credit Card both offer cash back on spending and welcome offers for new customers. The TD FlexPay offers waived late fees.
- Home loans: TD offers both mortgages and home equity lines of credit.
- Personal loans: You can get a personal loan of up to $50,000 with a term of between three and five years.
- Small business accounts: TD offers a variety of accounts and services for small businesses, including checking, loans, credit cards and merchant services.
- Easy access in Canada and the USA: For those who frequently travel from the United States to Canada, TD offers services that make banking seamless.
Online banking
Most banks offer online banking these days, and TD Bank is no exception. You can access your account through the TD Bank website or mobile app. Once you’re registered, you can sign up for services like Zelle and bill pay. You can also check your account balance and transactions, view statements, and communicate securely with customer service.
The app is available for both Apple and Android and offers the same features as the website. You can also use mobile deposits and receive real-time notifications on your phone.
The TD Bank platform and customer support
You can contact TD Bank in a number of ways, and unlike some other banks, it’s fairly easy to find their contact information. General customer service is available by phone 24/7, but they also offer some self-help options, including a help center with articles and an artificial intelligence (AI) chatbot.
Is TD Bank safe?
TD Bank takes security seriously and uses up-to-date methods to protect your personal information, including firewalls, encryption, constant system monitoring, and employee security training. It also uses two-step verification for passwords, security alerts, and an optional feature called VoicePrint.
VoicePrint records your voice and creates a digital signature that runs in the background to verify your voice when you call customer service.
TD Bank has not had any notable security breaches recently and cybersecurity firm Upguard gives it an A rating for security.
TD Bank User Reviews
Online customer service reviews are poor, scoring just 1.4 stars on Trustpilot. Most complaints relate to face-to-face customer service, claiming that in-store staff are either unhelpful or unfriendly.
Although there are far fewer positive reviews, they do say they get great customer service at the bank, so it seems your experience will depend on your local branch. If you plan on doing your banking at the counter, it might be a good idea to visit your local branch before signing up.
Compare alternatives to TD Bank
 TD Bank |
 BMO |
 CIBC Savings |
|---|---|---|
| Highest Savings APY | Highest Savings APY | Highest Savings APY |
| 4.00% | 0.05% | 1.70% |
| Best APY for exam | Best APY for exam | Best APY for exam |
| 0.01% | 0.01% | 0.00% |
| Best CD APY | Best CD APY | Best CD APY |
| 5.10% | 2.00% | N/A |
| Learn more | Learn more | Learn more |
| View offer at MoneyLion |
View offer at MoneyLion |
View offer at MoneyLion |
Is TD Bank right for you?
TD Bank is ideal for people who travel frequently between the United States and Canada. Their cross-border banking offers several services that facilitate visits or temporary stays in either country.
Frequently Asked Questions
Is TD Bank American or Canadian?
TD Bank is based in Canada but has accounts in Canada and the U.S. The U.S. accounts are insured by the Federal Deposit Insurance Corp. (FDIC), and the Canadian accounts are insured by the Canada Deposit Insurance Corp. (CDIC).
Are TD Bank and TD Ameritrade the same?
TD Bank and TD Ameritrade are separate companies. Charles Schwab acquired TD Ameritrade in 2020 and Schwab now oversees all accounts.
Is TD Bank financially stable?
Yes, TD Bank is financially stable. It is the 10th largest bank in the U.S. with nearly $370 billion in assets. It is also FDIC insured, which protects all deposit accounts up to $250,000 per holder, per account type.
