TD Bank review: Is TD Bank a good bank?

Adam Rozsa

If you’re looking for a new way to manage your money or grow your savings, you may be interested in finding a suitable account with TD Bank.

TD Bank - part of the Toronto Dominion Bank group - claims to be America's most convenient bank. To help you decide if TD is right for you, this guide walks through a full TD Bank review, looking at checking accounts, certificates of deposit (CDs), and the range of TD savings accounts. Ready to dive in?

But first, a word.

If you're looking for a cheap, fast and easy to send money, give Wise a go. With Wise, you can save up to 7x compared with another providers, but more on this later.

Open a free Wise account

📝 Table of contents

TD Bank Checking Account reviews

Checking accounts are designed to offer easy access ways to manage your money, make withdrawals and send payments. TD’s most popular checking accounts are the Beyond Checking and the Convenience Checking accounts¹.

Before we look in detail at the TD Bank checking account comparison, it’s worth noting that account options, services and fees can vary by location. In addition to the fees highlighted here, there are transaction fees for some services, which can add up quickly.

You’ll want to take a look at the full range of costs based on your state before you sign up, as some transactions like sending international payments can be more pricey than you might expect. Learn more about how to wire payments with TD Bank US here.

Right. On to the top TD Bank checking account products.

TD Beyond Checking²TD Convenience Checking ³
Monthly fee25 USD - waive this fee by holding 2,500 USD daily balance15 USD - waive this fee by holding 100 USD daily balance
Minimum opening depositNo minimum opening depositNo minimum opening deposit
International wire transfers

1 outgoing wire transfer reimbursed per statement cycle

50 USD for any additional outgoing international wire transfer¹⁵

1 outgoing wire transfer reimbursed per statement cycle

50 USD for any additional outgoing international wire transfer¹⁵

You’ll also find a range of specialist account options with TD Bank, including accounts aimed at older adults, the Simple Checking account and the TD Student Checking product. Take a look at the full range of options online, or get a review of the TD Bank student checking account here.

💡 As you can see on the table, apart from one outgoing international wire transfer per statement cycle, it is going to cost you 50 USD for any additional international transfers with TD Bank¹⁵. To avoid this fee, open a free Wise account today. You can save up to 7x in comparison with other providers.

td bank reviews

TD Bank Savings Accounts review

The most popular savings account products from TD Bank are the Beyond savings account and the Simple Savings account⁴. The Beyond Savings option comes with tiered interest which means you can earn more if you have other TD products, and a higher balance of savings.

Aside from these two options, there’s also the TD Growth Money Market account, which rewards regular savers with higher rates.

TD Beyond Savings ⁵TD Simple Savings ⁶
Monthly fee15 USD - waive this fee by holding 20,000 USD daily balance5 USD - waive this fee by holding 300 USD daily balance
Minimum opening depositNo minimum opening depositNo minimum opening deposit

Standard rate 0.01%

Relationship bump rate up to 0.05%


TD Bank CD

If you have money you want to lock away in a savings account, you might consider a certificate of deposit (CD). CDs can offer better interest rates compared to easy access accounts, but you’ll lose out on interest and may need to pay penalty fees if you withdraw your balance early.

In addition to the standard CD account types listed here, TD sometimes offers promotional rates which are worth looking at⁷ ⁸. You may find you can get a better rate deal if you have additional TD products and accounts already.

TD No-Catch CDsTD Step Rate CDs
Minimum opening deposit250 USD250 USD
Terms available6-month or 12-month3-year or 5-year

6-month: 0.05%

12-month: 0.05%

3-year: 0.1%


TD Bank customer experience

TD Bank offers phone based customer support as well as social media options for customers who want to connect digitally. You’ll also find a good range of FAQs and resources on the TD website which can help with troubleshooting and simple problems⁹.

If you prefer face to face customer service, you can also use the branch locator tool ¹⁰ to find a TD Bank office near you. Some 1200 branches are available across around 15 states and the District of Columbia, with a broad ATM network to supplement the branch office service.

It’s also worth noting that according to TD Bank reviews done by customers, the bank has a score of 1.2 out of 5 stars on Trustpilot¹⁹ and a rating of 3.5 of 5 stars on ConsumerAffairs²⁰.

Is TD Bank a safe bank?

TD Bank is considered to be a safe bank. Your money is protected to the full extent of the law, and TD uses modern technology to make sure your transactions and accounts are secure.

TD Bank overdraft fees

The cost of running into your overdraft may vary according to the type of TD Bank account you have. However, it’s well worth understanding the fees, so you’re prepared - the costs of an overdraft facility can be fairly high and mount up quickly.

To give an idea, the Beyond Checking account has a 35 USD/item fee, up to a maximum of 5 items a day¹⁵. That means that once your account is 5 dollars or more overdrawn, you’ll be charged every time a transaction is made or returned until you top up your account. The good news is that some accounts offer the opportunity to link a savings account to automatically increase your balance if you’re running low in your day-to-day account. This can help avoid overdraft fees and make sure you’ve always got a financial cushion for those more costly periods.

td bank reviews

TD Bank comparison

Let’s take a look at how TD Bank savings accounts compare to similar products from other leading US banks.

Fees and minimum balanceAPY
Bank of America¹³

8 USD fee - hold a minimum balance of 500 USD to avoid this fee

100 USD minimum opening deposit

0.01% - Preferred Rewards members may earn more
Chase¹¹5 USD fee - hold a minimum balance of 300 USD to avoid this fee0.01%¹²
Chime¹⁴No fee or minimum balance0.5%

10 USD fee

No minimum opening deposit

0.04% - 0.06%
PNC Bank¹⁷

5 USD fee - hold a minimum balance of 300 USD balance or set up auto savings to avoid this fee

25 USD minimum opening deposit

0.04% - 0.06%
US Bank¹⁸

4 USD fee

25 USD minimum opening deposit


TD Bank pros and cons

Choosing a bank can be tricky. There are always advantages and disadvantages of any provider, and of any specific account. To help you compare TD with other banks you’re interested in, here are a few of our top pros and cons to consider.


  • Good range of account types from a reputable, established bank
  • Basic accounts available, with easy ways to waive the monthly maintenance fees applied
  • Promotional savings offers can provide good interest rates
  • 1 free international wire transfer per statement cycle¹⁵


  • Branch network does not cover the entire country - check if there is a TD Bank near you if you value offline services
  • Transaction fees apply to all accounts
  • Wire fees: 30 USD for any additional domestic and 50 USD for any additional international wire transfers¹⁵

td bank reviews

Bottom line: Is TD Bank good?

TD Bank is a large financial institution which serves millions of customers throughout North America. That means there’s a good range of products available for customers looking to manage their money, save, take loans or credit, or access more sophisticated financial tools.

Whether or not TD will suit you depends very much on your financial goals and personal preferences. Compare a few accounts - and a few different banks - to build a picture of whether TD Bank is a good bank for you or not.

Save on international transfers with Wise

Before opening a new bank account, you’ll need to look at the full range of transaction fees applied to make sure the costs of transactions you make regularly are reasonable.

If you send or receive international transfers, it’s especially important to look at the costs involved here. For example, with TD bank, you get one free wire transfer per statement cycle¹⁵. But what happens if you need to wire money more often?

The price of moving your money across borders can come as quite a surprise - so it’s good to know that you can avoid high bank fees by choosing a specialist international transfer service like Wise.

Use Wise to send payments with low, transparent fees and the real exchange rate - or grab yourself a Wise multi-currency account to hold, send and spend multiple currencies all from the same account.

Find out how much you can save with Wise:


1]TD - Checking Accounts
2]TD - Beyond Checking Account
3]TD - Convenience Checking Account
4]TD - Savings Accounts
5]TD - Beyond Savings Account
6]TD - Simple Savings Account
7]TD - Certificates of Deposit
8]TD - No Fee Certificates of Deposit
9]TD Bank - Contact Us
10]TD - Store & ATM Locator
11]Chase - Savings Account
12]Chase - Consumer Deposit Rates
13]Bank of America - Savings Accounts
14]Chime - Savings Accounts
15)TD - Beyond Checking Account Guide
16)Citi - Savings Account
17)PNC Bank - Standard Savings Account
18)US Bank - Standard Savings Account
19)Trustpilot - TD Bank reviews
20)ConsumerAffairs - TD Bank reviews

All sources checked on 21 July 2021

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.

Money without borders

Find out more

Tips, news and updates for your location