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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 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.

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
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TD Bank

Bank of America

SPECIAL OFFER
TD $300 Beyond Checking Bonus - Learn More

Read TD Bank Review

SPECIAL OFFER
Bank of America Advantage Plus Banking® - $100 Bonus Offer - Learn More

Read Bank of America Review

 

Benefits and Features

Savings0.05% 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.
Check
CD0.05% 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).
Check
CheckingTD Simple Checking℠, TD Beyond Checking, TD Convenience Checking℠
Check
Money Market0.01% - 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 Service24/7 Live Customer Service (Telephone)Mon-Fri: 8am - 9pm (ET)
Sat: 8am - 8pm (ET)
Sun: 8am - 5pm (ET)
ATMsApproximately 1,300 ATMs throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida
Approximately 17,000 ATMs
IRA CD0.05% 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).
Check
Locations1300 locations along the east coast.Approximately 4,300 retail financial centers
 

CreditDonkey® Reviews

 TD Bank
SavingsStarStarStarEmpty StarEmpty StarStarStarStarEmpty StarEmpty Star
CDStarStarStarHalf StarEmpty StarStarStarEmpty StarEmpty StarEmpty Star
CheckingStarStarStarStarHalf StarStarStarHalf StarEmpty StarEmpty Star
Money MarketStarStarStarEmpty StarEmpty Star
Customer ServiceStarStarStarStarStarStarStarStarStarEmpty Star
Mobile AppStarStarStarStarHalf StarStarStarStarStarHalf Star
Pros & ConsPros:
  • 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 customer service hours
  • Full service banking
Cons:
  • No free checking option
  • Low interest rates
  • Many miscellaneous banking fees
Bottom LineEast Coast bank with relatively low minimum balance requirements... Read full reviewNational bank with widespread accessibility and wide range of services... Read full review
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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 01/08/2020 based on 08034 zip code.

Bank of America: Pricing information from published website as of 07/23/2021 based on 91107 zip code.

TD Bank
Member FDIC

TD Beyond Checking - $300 Cash Bonus

  • 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
  • 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, Rush Bill Payments and more.
  • Monthly maintenance fee waived when you receive monthly direct deposits of $5,000 or more, or maintain a minimum daily balance of $2,500, or a combined balance of $25,000 across eligible TD accounts.
  • TD fees waived at any ATM and non-TD fees reimbursed when you keep at least a $2,500 daily balance
  • Overdraft Payback - 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 Zero Liability protection and 24/7 fraud monitoring.
  • Monthly maintenance fee waived on one TD Simple CheckingSM account and any Savings and Money Market accounts. Plus, get free standard check orders, money orders, official bank checks and stop payments.

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 cd, checking, and customer service are worth mentioning. In particular, the 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.

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.

TD Open 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 Routing Number

Find your TD Bank routing number by state. Get the correct number with and without a check.

Articles on Bank of America

Bank of America Review

Bank of America is a national bank with many account options and user-friendly online banking. But does this convenience come at a cost? Read on.

Bank of America Hours

Bank of America is open 5-6 days a week, depending on the location. Take a look at their business hours below.

Bank of America Routing Number

Find your Bank of America routing number and learn about money transfers in our guide.

Which Do You Think is Best?





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Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

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