M&T Bank vs TD Bank
M&T Bank is an upper East Coast bank with free checking option and good promo CD rates. How does it compare to TD Bank? Read our comparison chart below.
M&T Bank has 690 branches serving the Upper East Coast and Florida. Offers a no-fee checking, as well as interest checking but with heavier requirements to waive service fees. Select Promo CD offers high rates for terms up to 36 months with a $1,000 minimum opening deposit.
While TD Bank has over 1,100 locations on the East Coast. Known as "America's most convenient bank," it offers extended banking hours and 24/7 customer service by phone. Monthly service fees can be waived with somewhat low minimum balance requirements.
Compare M&T Bank with TD Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
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M&T Bank | TD Bank | |
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M&T Tailored Business Checking Account - $500 Bonus - | TD $300 Beyond Checking Bonus - | |
Benefits and Features | ||
| Savings | 0.01% APY. Monthly service fee of $7.50 unless you 1) maintain a minimum daily balance of $500 or more or, 2) have a personal checking account with M&T Bank or, 3) make at least one deposit in your Relationship Savings account | 0.02% APY. No minimum deposit. $5.00 monthly fee waived if 1) minimum $300 balance or 2) waived for the first 12 months if with recurring transfer of $25 or more from a TD Bank account or if you're under 18 or 62 and older. |
| CD | 2.75% - 3.50% APY. Terms of 12 - 18 months. Minimum opening deposit $1,000. | 0.05% to 1.00% APY (up to 4.25% for Rate Bump APY). Terms of 3 months to 5 years. Minimum deposit of $250. Allows one penalty-free withdrawal (depending on account). |
| Checking | TD Simple Checking℠, TD Beyond Checking, TD Convenience Checking℠ | |
| Money Market | M&T MyChoice Money Market account Regular rate of 0.02% - 0.75% APY for qualifying customers. | |
| Customer Service | Mon - Fri 8:00 am - 9:00 pm (ET); Sat - Sun 9:00 am - 5:00 pm (ET). | 24/7 Live Customer Service (Telephone) |
| ATMs | More than 1,800 M&T Bank ATMs in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and the District of Columbia. | Approximately 700 ATMs throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida |
| IRA CD | 0.05% to 1.00% APY (up to 4.25% for Rate Bump APY). Terms of 3 months to 5 years. Minimum deposit of $250. Additional contributions and penalty-free withdrawal available (depending on account). | |
| Locations | 690 bank branches located throughout New York, New Jersey, Pennsylvania, Maryland, Washington, D.C., Virginia, West Virginia and Florida | 1100 locations along the east coast. |
CreditDonkey® Reviews | ||
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| Pros & Cons | Pros:
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| Bottom Line | Upper East Coast bank with free checking option and good promo CD rates... | East Coast bank with relatively low minimum balance requirements... |
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Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. M&T Bank: Pricing information from published website as of 01/25/2023 based on 14203 zip code TD Bank: Pricing information from published website as of 12/22/2022 based on 08034 zip code. | ||
TD Beyond Checking - $300 Cash Bonus
- Earn $300 when you receive direct deposits totaling $2,500 or more within 60 days
- Get more from your checking account. With TD Beyond Checking with Payback Plus, you'll earn interest and get reimbursed for non-TD ATM transactions, Overdraft Payback and more.
- Monthly maintenance fee waived when you receive monthly direct deposits of $5,000 or more within a statement cycle, or maintain a minimum daily balance of $2,500, or a combined balance of $25,000 across eligible TD accounts.
- TD ATM fees waived at any ATM and non-TD fees reimbursed when you keep at least a $2,500 daily balance
- Get overdraft fees automatically reversed up to two times a year.
- Get your money where it needs to go —fast— with Rush Bill Payments, Send Money with Zelle®, incoming wires and a reimbursement for one outgoing wire (domestic or international) per statement cycle.
- TD checking accounts come with an instant-issue debit card - and, you can pay with confidence with contactless technology Visa Zero Liability protection and 24/7 fraud monitoring.
- Monthly maintenance fee waived on one TD Simple Checking℠ account and any Savings accounts. Plus, get free standard check orders, money orders, official bank checks and stop payments.
TD Convenience Checking℠ - $200 Cash Bonus
- Earn $200 when you receive direct deposits totaling $500 or more within 60 days
- Low minimum daily balance of $100 waives the $15 monthly fee.
- Students and young adults ages 17 through 23 get additional perks like no minimum balance requirements and no monthly maintenance fee.
- Instantly replace a lost, stolen, or damaged debit card by visiting a TD Bank location near you
- Access accounts via Online Banking with Bill Pay, Online Statements, Send Money with Zelle and TD Bank Mobile Deposit. Plus, get 24/7 cash access at TD ATMs in the U.S. and Canada and around-the-clock Live Customer Service.
- TD checking accounts come with an instant-issue debit card - and, you can pay with confidence with contactless technology Visa Zero Liability protection and 24/7 fraud monitoring.
- Get a 0.25% discount on TD Bank Home Equity and Personal Loans.
Which is Better: M&T Bank or TD Bank?
Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing M&T Bank or Chase.
In short: TD Bank's customer service and mobile app are worth mentioning. In particular, the customer service is outstanding.
Articles on M&T Bank
M&T Bank Review
Articles on TD Bank
TD Bank
TD Beyond Checking Bonus
TD Convenience Checking Bonus
TD Bank Hours
TD Bank Open Account
