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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 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
Member FDIC
Bank of America
Member FDIC
 Learn MoreLearn More
 

TD Bank

Bank of America

SPECIAL OFFER
TD $300 Beyond Checking Bonus - Learn More

Read TD Bank Review

OFFER
Bank of America Advantage Banking - $200 Bonus Offer

Read Bank of America Review

 

Benefits and Features

Savings0.02% 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.
Check
CD1.00% 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).
Check
CheckingTD Simple Checking℠, TD Complete Checking, TD Beyond Checking
Check
ATMsApproximately 700 ATMs throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida
Approximately 16,000+ ATMs
Customer Service24/7 Live Customer Service (Telephone)
  • Mon-Fri: 8am - 9pm (ET)
  • Sat: 8am - 8pm (ET)
  • Sun: 8am - 5pm (ET)
IRA CD1.00% 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).
Check
Locations1100 locations along the east coast.Approximately 3,900 retail financial centers
 

CreditDonkey® Reviews

 TD BankBank of America
SavingsStarStarStarEmpty StarEmpty StarStarStarEmpty StarEmpty StarEmpty Star
CDStarStarStarHalf StarEmpty StarStarStarStarHalf StarEmpty Star
CheckingStarStarStarStarHalf StarStarStarStarStarEmpty Star
Money MarketStarStarStarEmpty StarEmpty Star
Mobile AppStarStarStarStarHalf StarStarStarStarStarHalf Star
Customer ServiceStarStarStarStarStarStarStarStarStarEmpty 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 service hours
  • Full service banking
Cons:
  • Monthly fees
  • Low interest rates
  • Many misc. 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
 Learn MoreLearn More

    TD Bank: Pricing information from published website as of 03/15/2024 based on 08034 zip code.

    Bank of America: Pricing information from published website as of 03/15/2024 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
    • 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.
    TD Bank
    Member FDIC

    TD Complete Checking - $200 Cash Bonus

    • New customers who open a TD Complete Checking account online 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

    • 3 different ways to waive the $15 monthly maintenance fee, including direct deposits
    • Build savings by waiving the monthly maintenance fee on one linked personal savings account of your choice
    • 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.
    • Age based perks: Monthly Maintenance fee waived if the primary account owner is aged 17 – 23, plus non-TD ATM fees waived. Free standard checks and $0 paper statement fee for aged 60+
    • 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 TD Early Pay, Bill Pay, Send Money with Zelle®, Mobile Deposit and Online Statements.
    Bank of America
    Member FDIC

    Bank of America Advantage Banking - $200 Bonus Offer

    Expires 5/31/2024
    • The $200 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
    • The offer is for new checking customers only.
    • Offer expires 5/31/2024.
    • To qualify, open a Bank of America Advantage Banking account through the promotional page and set up and receive qualifying direct deposits totaling $2,000 or more into that new account within 90 days of opening.
    • Bank of America will attempt to pay bonus within 60 days.
    • Additional terms and conditions apply. See offer page for more details.
    • Bank of America, N.A. Member FDIC.
    Bank of America
    Member FDIC

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

    Expires 6/30/2024
    Earn a cash bonus in three steps:
    1. Open a new eligible business checking account by June 30, 2024
    2. Make Qualifying Deposits* of $5,000 or more in new money within 30 days of opening the new eligible business checking account
    3. 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
    Bank of America
    Member FDIC

    Bank of America Advantage SafeBalance Banking®

    • Banking that helps you stay within your balance.
    • No monthly maintenance fee each statement cycle when you meet one of the following: an owner of this account is under the age of 25 or maintain a minimum daily. balance of $500 in your account or are a member of Bank of America Preferred Rewards®.
    • Bank of America, N.A. Member FDIC.

    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.

    TD Beyond Checking Bonus

    TD Bank is offering $300 to open a Beyond Checking account. Find out how to earn the bonus.

    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

    Open your TD Bank account with ease. All details in this comprehensive guide. Don't miss the bonus.

    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 Savings Account Interest Rate

    Bank of America's Advantage Savings has a standard APY way below the national average. Read on to find out more.

    Does Bank of America Have a High Yield Savings

    Bank of America offers various banking products and services. But does it have a high-yield savings account? Find out here.

    Bank of America Problems

    Bank of America may be one of the biggest banks, but many customers find a lot of issues with their banking services. What are they? Keep reading.

    Bank of America CD Rates

    Bank of America is one the biggest banks in the U.S. But are their CD rates worth it? Read on to find out.

    How to Close a Bank of America Account

    Want to close your Bank of America account? Learn how and what you need to do before you close your account.

    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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