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.

	M&T Bank	TD Bank

	Learn More	Visit Site
	SPECIAL OFFER Personal Checking Account - Up to $200 Bonus - Learn More Read M&T Bank Review	SPECIAL OFFER TD $300 Beyond Checking Bonus - Learn More Read TD Bank Review
	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	4.50% APY. Terms of 12 - 18 months. Minimum opening deposit $1,000.	1.00% APY (up to 5.00% for Bump Rate 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	2.27% APY. M&T MyChoice Money Market Regular Interest.
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		1.00% APY (up to 5.00% for Bump Rate 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

Savings
CD
Checking
Money Market
Customer Service
Mobile App
Pros & Cons	Pros: Free checking option High APY for Promo CD Free savings with checking Cons: Fee heavy Subpar savings APY Limited branches	Pros: Extended banking hours Low requirements to waive monthly fees No foreign transaction fees Cons: No free checking Low APY Only on East Coast
Bottom Line	Upper East Coast bank with free checking option and good promo CD rates... Read full review	East Coast bank with relatively low minimum balance requirements... Read full review
	Learn More	Visit Site
	Personal Checking Account - Up to $200 Bonus Personal Checking Account - $350 Bonus	TD $300 Beyond Checking Bonus TD $200 Convenience Checking Bonus TB Business Convenience Checking Plus
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 09/21/2023 based on 14203 zip code TD Bank: Pricing information from published website as of 09/25/2023 based on 08034 zip code.

Member FDIC

TD Beyond Checking - $300 Cash Bonus

Learn More

Expires 10/31/2023

New customers who apply online for a TD Beyond Checking account can earn a $300 cash bonus after receiving direct deposits of $2,500 or more within 60 days. To qualify for this offer, you must be a U.S. resident and apply for the offer online. Offer is available in these states: CT, DC, DE, FL, MD, ME, MA, NC, NH, NJ, NY, PA, RI, SC, VT, VA
Three ways to go monthly maintenance fee-free: Monthly Maintenance fee waived when you set up direct deposits of $5,000 or more within a statement cycle, maintain a $2,500 minimum daily balance, or have a $25,000 combined balance across eligible TD accounts.
ATM perks: TD fees waived at any ATM and non-TD fees reimbursed when you keep at least a $2,500 daily balance
A little extra time. A lot of extra relief: Avoid fees with Grace Period, which gives you until 11 PM ET the next business day to fix an overdraft. Make sure your available balance is at least $0 by depositing enough to cover the overdrawn balance plus any additional transactions and TD will refund the overdraft fee to your checking account.
Fast and secure payments: TD Bank debit cards are backed by the Zero Liability guarantee and 24/7 fraud monitoring
Convenient locations with the longest hours around: We have over 1,100 locations from Maine to Florida that's open early, late, and weekends.
Get reimbursed for fees including two overdraft fees per year, all Rush Bill Payments, and one outgoing wire per statement cycle (domestic or international).
Additional TD Bank checking account perks worth talking about: Get 24/7 access to all your TD accounts with Online & Mobile Banking, plus Bill Pay, Send
Money with Zelle®, Mobile Deposit and Online Statements.

Member FDIC

TD Convenience Checking℠ - $200 Cash Bonus

Learn More

Expires 10/31/2023

New customers who apply online for a TD Convenience Checking℠ account can earn a $200 cash bonus after receiving direct deposits of $500 or more within 60 days. To qualify for this offer, you must be a U.S. resident and apply for the offer online. Offer is available in these states: CT, DC, DE, FL, MD, ME, MA, NC, NH, NJ, NY, PA, RI, SC, VT, VA
Waive the $15 monthly maintenance fee with a low minimum daily balance of $100.
Student perks: No monthly maintenance fee or minimum balance requirements if you're ages 17–23
A little extra time. A lot of extra relief: Avoid fees with Grace Period, which gives you until 11 PM ET the next business day to fix an overdraft. Make sure your available balance is at least $0 by depositing enough to cover the overdrawn balance plus any additional transactions and TD will refund the overdraft fee to your checking account.
Convenient locations with the longest hours around: We have over 1,100 locations from Maine to Florida that's open early, late, and weekends.
Instant-issue debit card replacement: Instantly replace a lost or worn contactless debit card by visiting a TD Bank location near you
Fast and secure payments: TD Bank debit cards are backed by the Zero Liability guarantee and 24/7 fraud monitoring
Additional TD Bank checking account perks worth talking about: Get 24/7 access to all your TD accounts with Online & Mobile Banking, plus Bill Pay, Send Money with Zelle®, Mobile Deposit and Online Statements.

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

If you are on the upper East Coast, you probably see M&T Bank frequently. With a free checking option and a range of deposit accounts, does it meet your needs?

Articles on TD Bank

TD Bank

TD Bank offers extended customer hours and easy online banking. Are these perks worth it? Find out what makes TD Bank a great choice for you and some reasons to look elsewhere.