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TD Bank vs Charles Schwab Bank

TD Bank is an east Coast bank with relatively low minimum balance requirements. How does it compare to Charles Schwab Bank? 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 Charles Schwab Bank offers an Investor Checking account with unlimited ATM fee reimbursements worldwide and no foreign transaction fees. No minimum to open and no service fee. It is tied to a brokerage account but you don't have to use it.

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

 TD Bank
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TD Bank

Charles Schwab Bank

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TD Beyond Checking - Learn More

Read TD Bank Review

SPECIAL OFFER
High Yield Investor Checking – Unlimited ATM Rebates - Learn More

Read Charles Schwab Bank 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.
0.05% APY
CD0.10% - 0.15% APY (up to 0.50% for Rate Bump APY). Terms of 3 months to 5 years. Minimum deposit of $250. Allows one penalty-free withdrawal (depending on account).Offers brokered CDs from other banks. Terms range from 1 month to 20 years. Minimum deposit of $1,000.
Checking 0.03% APY, $0.01 account minimum
Money Market0.03% - 0.20% APY (up to 0.25% 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)24/7 Live Customer Service (Telephone and Chat)
ATMsApproximately 1,300 ATMs throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and FloridaUnlimited ATM fee rebates when used with ATMs with the Visa, Interlink logo. Available worldwide.
IRA CD0.10% - 0.15% APY (up to 0.50% 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). 
Locations1300 locations along the east coast.345 branches across the country. You may also open an account online.
 

CreditDonkey® Reviews

 TD Bank
Savings
CD
Checking
Money Market
Customer Service
Mobile App
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:
  • No account minimum
  • No service fees
  • Refund all ATM fees
Cons:
  • Only checking or savings
  • Must do banking online
Bottom LineEast Coast bank with relatively low minimum balance requirements... Read full reviewPopular brokerage with a free checking account that refunds ATM fees... Read full review
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High Yield Investor Checking – Unlimited ATM Rebates

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.

Charles Schwab Bank: Pricing information from published website as of 03/28/2020.

Which is Better: TD Bank or Charles Schwab Bank?

Still need help deciding which bank is better? Read the in-depth reviews below. You may also be interested in comparing TD Bank or Chase.

In short: Charles Schwab Bank's savings is notable.


Articles on TD Bank


Articles on Charles Schwab Bank


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