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If you live on the East Coast and prioritize traditional banking, you might be considering Chase or TD Bank.
To help you determine whether Chase or TD Bank might be suitable for you, we’re comparing each institution’s bank accounts. We will also assess the banks’ trustworthiness so you can learn more about their banking history.
Compare TD Bank and Chase
Easy to waive fees on checking account
Editor’s overall rating
Easier to earn $200 sign-up bonus than with TD Bank
Editor’s overall rating
Pros and cons of TD Bank
Pros and cons of Chase
TD Bank vs. Chase checking account comparisons
TD Bank and Chase have multiple checking accounts. Below, we’ve compared each bank’s basic checking account offerings. Both of these accounts provide ways to waive monthly service fees.
If your priority is to avoid paying a monthly service fee, you may favor TD Bank over Chase. The TD Bank Convenience Checking Account has a lower minimum balance requirement than Chase Total Checking®. You’ll also be eligible to waive the monthly service fee at TD Bank if you are between the ages of 17 and 23.
Chase still might be worth considering if you’re looking to take advantage of a cash bonus, though. Both banks offer a $200 sign-up bonus if you’re a new customer, but Chase has easier requirements.
At Chase, all you need to do is use a coupon code when you open Chase Total Checking® and set up direct deposit in the first 90 days. To be eligible for the $200 bonus on the TD Bank Convenience Checking Account, you’ll need to receive $500 or more in direct deposits during the first 60 days of opening an account.
TD Bank Convenience Checking Account
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
$0
TD Bank Convenience Checking Account
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
$0
Details
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
$0
Pros & Cons
Highlights
Additional Reading
TD Bank vs. Chase savings account comparisons
For savings accounts, we’re seeing how the TD Simple Savings Account stacks up to Chase Savings℠ since both accounts have a $5 monthly service fee that can be waived.
TD Bank and Chase have pretty similar savings accounts. Both banks let you open an account with $0 and pay low interest rates.
The requirements for waiving the $5 monthly service fee are almost interchangeable, as well. You might prefer the TD Simple Savings Account if you’re a senior citizen looking to open a savings account. However, if you’re under the age of 62, it may not make much of a difference, since the other requirements for waiving the fee are almost the same.
If you’re looking to earn a competitive interest rate on a savings account, you might consider looking over our best high-yield savings account for contenders.
TD Simple Savings Account
Annual Percentage Yield (APY)
0.02%
Minimum Deposit Amount
$0
TD Simple Savings Account
Annual Percentage Yield (APY)
0.02%
Minimum Deposit Amount
$0
Details
Annual Percentage Yield (APY)
0.02%
Minimum Deposit Amount
$0
Pros & Cons
Highlights
Annual Percentage Yield (APY)
0.01% effective as of 10/10/2022. Interest rates are variable and subject to change
Minimum Deposit Amount
$0
Annual Percentage Yield (APY)
0.01% effective as of 10/10/2022. Interest rates are variable and subject to change
Minimum Deposit Amount
$0
Details
Annual Percentage Yield (APY)
0.01% effective as of 10/10/2022. Interest rates are variable and subject to change
Minimum Deposit Amount
$0
Pros & Cons
Highlights
Additional Reading
TD Bank vs. Chase CD comparisons
Most banks require a minimum opening deposit of $1,000 for CDs like Chase. However, TD Bank lets you open a CD with only $250 upfront.
TD Bank also might be ideal if you’d like to get a special type of CD. For example, you can get a no-penalty CD, which means you won’t have to be an early withdrawal penalty on a CD if you withdraw money before the end of the term. You may also open a 3-year or 5-year step-up CD. A step-up CD has a blended interest rate, which means that the interest rate will go up over time.
Chase may be a better option than TD Bank if you’re looking for standard CD terms under three months or over five years.
TD Bank vs. Chase trustworthiness and BBB ratings
We include ratings from the Better Business Bureau to evaluate how a bank deals with customer issues.
JP Morgan Chase & Co. (Chase’s parent company) received an A- rating. The BBB says it received this rating because government action was taken against the business.
In 2020, JP Morgan Chase & Co. paid the Department of Justice $920 million when charged with wrongful trading.
In 2020, JP Morgan Chase & Co. paid $800,000 in back wages in a settlement with the US Department of Labor that accused the company of underpaying women. The US Department of Labor also required the bank to provide a total of $9 million for compensation adjustments over five years.
The BBB also gave TD Bank an A rating because government action was taken against the TD Bank.
In 2020, the US Bureau of Consumer Financial Protection required TD Bank to pay $122 million in a settlement that accused the bank of charging customers a Debit Card Advance service without their permission.
Frequently asked questions
Chase has more branches than TD Bank. TD Bank has 1,100 branches and is primarily based on the East Coast. Meanwhile, Chase has over 4,700 branches. Its branches are available in 48 states and Washington, DC.
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