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TD Bank: 2023 Banking Review
TD Bank is a major financial services company headquartered in Cherry Hill, New Jersey. It is the 7th largest bank in the United States by assets, with over $1.6 trillion in assets. TD Bank offers a wide range of banking products and services, including checking accounts, savings accounts, CDs, loans, credit cards, and investment products.
Checking Accounts
TD Bank offers a variety of checking accounts to choose from, each with its own set of features and benefits. The most basic checking account, TD Convenience Checking, has a $10 monthly fee that can be waived by maintaining a $100 minimum daily balance or by making $500 in direct deposits each month. TD Bank also offers a number of other checking accounts, including:
- TD Beyond Checking: This account has a $25 monthly fee that can be waived by maintaining a $2,500 minimum daily balance or by making $5,000 in direct deposits each month. TD Beyond Checking also offers a number of additional benefits, such as free ATM withdrawals worldwide and no foreign transaction fees.
- TD Cash Back Checking: This account earns 1% cash back on all purchases made with your TD Bank debit card. There is a $10 monthly fee that can be waived by maintaining a $250 minimum daily balance or by making $500 in direct deposits each month.
- TD Student Checking: This account is free for students under the age of 24. It offers a number of benefits, such as free ATM withdrawals worldwide and no foreign transaction fees.
TD Bank also offers a variety of savings accounts to choose from. The most basic savings account, TD Simple Savings, has a $5 monthly fee that can be waived by maintaining a $300 minimum balance. TD Bank also offers a number of other savings accounts, including:
- TD Signature Savings: This account earns a higher interest rate than TD Simple Savings. There is a $15 monthly fee that can be waived by maintaining a $5,000 minimum balance.
- TD High Yield Savings: This account earns an even higher interest rate than TD Signature Savings. There is a $25 monthly fee that can be waived by maintaining a $25,000 minimum balance.
TD Bank offers a variety of CDs to choose from, with terms ranging from 3 months to 5 years. CDs earn a higher interest rate than savings accounts, but you must commit to keeping your money in the account for a certain period of time. If you withdraw your money early, you may be subject to an early withdrawal penalty.
Loans
TD Bank offers a variety of loans, including personal loans, auto loans, and mortgages. Personal loans are unsecured loans that can be used for any purpose. Auto loans are secured loans that are used to purchase a car. Mortgages are secured loans that are used to purchase a home.
Credit Cards
TD Bank offers a variety of credit cards, each with its own set of features and benefits. The most basic credit card, TD Cash Back Visa, earns 1% cash back on all purchases. TD Bank also offers a number of other credit cards, including:
- TD Travel Rewards Visa: This card earns 2 points per dollar spent on travel purchases. Points can be redeemed for travel rewards, such as flights, hotels, and car rentals.
- TD Cash Back Credit Card: This card earns 2% cash back on gas and grocery purchases and 1% cash back on all other purchases.
TD Bank offers a variety of investment products, including mutual funds, ETFs, and stocks. TD Bank also offers a number of investment services, such as investment advice and portfolio management.
Overall, TD Bank is a large and well-established financial services company that offers a wide range of banking products and services. TD Bank has a good reputation for customer service and convenience. However, TD Bank's fees can be higher than those of some other banks.
Here are some of the pros and cons of TD Bank:
Pros:
- Wide range of products and services
- Good reputation for customer service
- Convenient online and mobile banking
- ATMs available nationwide
- Fees can be higher than some other banks
- Customer service can be slow at times
- Online banking can be difficult to use