TD Bank vs Bank of America

TD Bank is an east Coast bank with relatively low minimum balance requirements. How does it compare to Bank of America? 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 Bank of America is one of the largest banks in the U.S. with approximately 4,300 locations and 17,000 ATMs. It is known for good customer service with extended hours. It offers checking, savings, CDs, IRA, and investment accounts through Merrill Edge.

Compare TD Bank with Bank of America, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

	TD Bank	Bank of America

	Visit Site	Visit Site
	SPECIAL OFFER TD $300 Beyond Checking Bonus - Learn More Read TD Bank Review	SPECIAL OFFER Bank of America Business Advantage Checking Account - $200 Bonus Offer - Learn More Read Bank of America Review
	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	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℠
Customer Service	24/7 Live Customer Service (Telephone)	Mon-Fri: 8am - 9pm (ET) Sat: 8am - 8pm (ET) Sun: 8am - 5pm (ET)
ATMs	Approximately 700 ATMs throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida	Approximately 16,000+ ATMs
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	1100 locations along the east coast.	Approximately 3,900 retail financial centers
	CreditDonkey® Reviews

Savings
CD
Checking
Money Market
Customer Service
Mobile App
Pros & Cons	Pros: Extended banking hours Low requirements to waive monthly fees No foreign transaction fees Cons: No free checking Low APY Only on East Coast	Pros: Large branch network Extended service hours Full service banking Cons: Monthly fees Low interest rates Many misc. banking fees
Bottom Line	East Coast bank with relatively low minimum balance requirements... Read full review	National bank with widespread accessibility and wide range of services... Read full review
	Visit Site	Visit Site
	TD $300 Beyond Checking Bonus TD $200 Convenience Checking Bonus Referral Program - Up to $500 Bonus	Bank of America Business Advantage Checking Account - $200 Bonus Offer Bank of America Advantage Banking - $200 Bonus Offer Bank of America Advantage SafeBalance Banking®
TD Bank: Pricing information from published website as of 11/27/2023 based on 08034 zip code. Bank of America: Pricing information from published website as of 11/24/2023 based on 91107 zip code.

Member FDIC

TD Beyond Checking - $300 Cash Bonus

Learn More

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

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.

Member FDIC

Bank of America Business Advantage Checking Account - $200 Bonus Offer

Learn More

Expires 12/31/2023

Earn a cash bonus in three steps:

Open a new eligible business checking account by December 31, 2023
Make Qualifying Deposits* of $5,000 or more in new money within 30 days of opening the new eligible business checking account
Maintain an average balance of $5,000 for the next 60 days (day 31-90) during the maintenance period**

*Qualifying Deposits are deposits of new money, which is money not currently or previously held in any account at Bank of America or Merrill
**The maintenance period begins thirty-one (31) days after account opening and ends ninety (90) calendar days after account opening.
Member FDIC

Member FDIC

Business Advantage Fundamentals™ Banking

No fee for first 200 transactions per statement cycle
No fee for first $7,500 in cash deposited per statement cycle
Waive the $16 monthly fee in a variety of ways

Learn More

Member FDIC

Business Advantage Relationship Banking

No fee for first 500 transactions per statement cycle
No fee for first $20,000 in cash deposited per statement cycle
Waive the $29.95 monthly fee by maintaining a $15,000 combined average monthly balance

Learn More

Which is Better: TD Bank or Bank of America?

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: TD Bank's customer service is outstanding.

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.