TD Bank vs Ally Bank
TD Bank is an east Coast bank with relatively low minimum balance requirements. How does it compare to Ally Bank? Read our comparison chart below.
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.
While Ally Bank offers high interest on their Savings account. It also offers interest checking and multiple CD options, including No Penalty and Raise Your Rate CDs. There is no minimum deposits or service fees for any of their banking products.
Compare TD Bank with Ally Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
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TD Bank | Ally Bank | |
|---|---|---|
TD $300 Beyond Checking Bonus - | Online Savings Account - 3.75% APY - | |
Benefits and Features | ||
| Savings | 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 | 0.05% to 1.00% APY (up to 4.35% for Rate Bump APY). Terms of 3 months to 5 years. Minimum deposit of $250. Allows one penalty-free withdrawal (depending on account). | 2.00% to 5.00% APY. Terms of 3 months to 5 years. 12-month CD APY of 4.50% |
| Checking | TD Simple Checking℠, TD Beyond Checking, TD Convenience Checking℠ | 0.10% APY for daily balances less than $15,000. 0.25% APY for daily balances over $15,000 |
| Money Market | ||
| Customer Service | 24/7 Live Customer Service (Telephone) | |
| ATMs | Approximately 700 ATMs throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida | Over 43,000 no-fee Allpoint ATMs |
| IRA CD | 0.05% to 1.00% APY (up to 4.35% 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 | 1100 locations along the east coast. | |
CreditDonkey® Reviews | ||
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| Checking | | |
| Money Market | | |
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| Mobile App | | |
| Pros & Cons | Pros:
| Pros:
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| Bottom Line | East Coast bank with relatively low minimum balance requirements... | Solid online bank with a great user-friendly website and customer service... |
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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. TD Bank: Pricing information from published website as of 02/26/2023 based on 08034 zip code. Ally Bank: Pricing information from published website as of 03/18/2023. | ||
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: TD Bank or Ally Bank?
Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing TD Bank or Chase.
In short: Ally Bank's savings and money market are worth mentioning.
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.
TD Beyond Checking Bonus
TD Bank is offering $300 to open a Beyond Checking account. Find out how to earn the bonus.
TD Convenience Checking Bonus
TD Bank is offering a $200 sign-up bonus for opening a Convenience Checking ℠ account. Learn more about this promotion below.
TD Bank Hours
TD Bank is open 7 days a week, depending on the location. Here's when you can visit a branch near you.
Open TD Account
Opening an account with TD Bank is simple. Take a look at what you'll need and check out your account options in our guide.
TD Bank Routing Number
Find your TD Bank routing number by state. Get the correct number with and without a check.
Articles on Ally Bank
Ally Bank
Ally Bank offers good interest rates and no account minimums. But is this popular online bank good for you? Learn the benefits (and drawbacks) here.
Ally Bank Routing Number
Looking to transfer money in or out of your Ally account? You'll need the right routing number. Find your Ally routing number and learn more about money transfers in our guide.
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