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 1,300 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


	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	0.05% 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	0.30% APY. Terms of 24 months. Minimum opening deposit $1,000.	0.05% APY (up to 0.05% 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% APY, Premium rate of 0.02% APY for qualifying customers.	0.01% - 0.02% APY (up to 0.03% for Rate Bump APY) for amounts up to $250,000. No minimum deposit. $11 or $12 monthly maintenance fee waived if 1) minimum $2000 balance or 2) over 62 years old.
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 1,300 ATMs throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida
IRA CD		0.05% APY (up to 0.05% 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	1300 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

	Personal Checking Account - Up to $200 Bonus Personal Checking Account - $350 Bonus	TD $300 Beyond Checking Bonus TD $200 Convenience Checking Bonus TD Beyond Savings - $200 Cash Bonus
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 07/27/2022 based on 14203 zip code TD Bank: Pricing information from published website as of 01/08/2020 based on 08034 zip code.

Member FDIC

TD Beyond Checking - $300 Cash Bonus

Learn More

Expires 10/31/2022

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.

Member FDIC

TD Convenience Checking℠ - $200 Cash Bonus

Learn More

Expires 10/31/2022

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

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?