TD Bank checking accounts review: Open with no minimum deposit, and earn up to $300 for signing up

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  • TD Bank (Member FDIC) has 1,300 branches and 1,900 ATMs, and it's a solid option for people who live on the East Coast.
  • The bank offers three checking accounts: TD Simple, TD Convenience, and TD Beyond.
  • TD Convenience and Beyond offer $150 and $300 sign-up bonuses, respectively; if you aren't eligible for sign-up bonuses or to waive monthly fees, then you may prefer TD Simple, which has a lower monthly fee.
  • You don't need a minimum deposit to open any checking accounts with TD Bank.
  • See Business Insider's picks for the best checking accounts »

Should you open a TD Bank checking account?

You might like TD Bank if you prefer banking face-to-face and live near a branch along the East Coast. TD Bank Convenience Checking and TD Bank Beyond Checking are good options if you a) qualify for the sign-up bonus, and b) are eligible to waive the monthly fee.

The TD Bank Simple Checking Account isn't anything special, but if you want to bank with TD Bank for other reasons and don't qualify for cash bonuses or waived monthly fees with the other two checking accounts, then it's a fine option.

TD Bank checking accounts

  TD Simple TD Convenience TD Beyond
Sign-up bonus None $150 $300
Interest earned None None 0.01% – 0.03% APY
Monthly service fee $5.99 $15; can be waived $25; can be waived
Out-of-network ATM fee $3 $3 $0; refunds provider fees if your balance is $2,500
  Open an account Open an account Open an account

TD Bank checking features

TD Bank Beyond Checking Account

TD Bank TD Bank Beyond Checking AccountTD Bank

Bank of America
Citizens Bank

Locations

1,300 branches; 1,900 ATMs

Locations

4,200 branches; 16,000 ATMs

Locations

1,100 branches; 3,100 ATMs

Sign-up bonus

Up to $300

Sign-up bonus

Up to $100

Sign-up bonus

Up to $300

Minimum opening deposits

None

Minimum opening deposits

$25 or $100

Minimum opening deposits

None

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TD Bank checking accounts vs. Bank of America checking accounts

Georgia residents will want to go with Bank of America, and Vermont residents will prefer TD Bank — these are the only East Coast states where each bank doesn't have a branch.

Bank of America also has branches and ATMs all over the US, so it could be the better option if you regularly travel outside the East Coast.

TD Bank pays higher cash bonuses than Bank of America does, unless you choose the TD Bank Simple Checking Account, which doesn't pay a sign-up bonus at all. TD Bank also doesn't require any minimum opening deposits, making it a good option if you don't have much money to get started.

TD Bank checking accounts vs. Citizens Bank checking accounts

Your choice between TD Bank and Citizens Bank could come down to which state you live in. TD Bank has branches all along the East Coast with the exception of Georgia. Citizens Bank is prevalent in the Northeast, but it doesn't have branches in the Southeast or in Maine.

You can earn up to $300 for opening a checking account with each bank. However, you might prefer Citizens Bank if you also want to open a savings account. Citizens bank pays $300 for opening a checking account, $200 for a savings account, and an additional $100 if you set up checking and savings at the same time — coming to $600 total.

Get the latest Bank of America stock price here.

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