TD Bank, N.A is an American bank and the US subsidiary of the multinational TD Bank Group. The institution mainly operates across the East Coast in fifteen US states. TD Bank is the seventh-biggest bank in the United States by deposits and the 11th-largest bank in the US by total assets due to several mergers and acquisitions. It is headquartered in Cherry Hill, New Jersey. We shall dwell more on the TD Bank checking account.
TD Bank is a federally chartered bank, and that’s why its trading name has “NA” letters. It offers various products, with checking accounts being one of them. Others include savings, the money market, debit and credit cards. The bank is America’s Most Convenient Bank, as per reports from the financial statistics bodies of the country. Again, the bank services are easy to access online.
Usually, the financial company allows you to access your account online through the company’s website. You may also access services at a branch. There are numerous TD Bank branches spread out throughout the country. Additionally, you can access your account through the bank’s mobile app using your phone, which you can get from the Play Store or App Store. You can even open an account online if you attach the necessary details.
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Opening Ways Of TD Bank Checking Account
You can open an account online if you have all the requirements. These include your identification document, Social Security Number, proof of address, phone number, and email address.
You may also open an account at a branch. You only have to carry the necessary documents, and you are good to go.
TD Bank checking account fee
Like most banks, TD Bank charges monthly fees for account holders. One should pay a monthly fee of $15. You can waive the monthly fee with a $100 minimum daily balance in your account. If you have a student checking account, you can enjoy student perks, paying no monthly maintenance fee if you’re 17–23.
Also, there are no fees if you deposit money using your mobile banking with the TD Bank Mobile Deposit feature. Looking at the above details, the bank is among the cheapest financial companies to bank with.
TD Bank checking account features
There are various features associated with TD Bank checking accounts. They include the following.
- Online access
- Ability to waive monthly fees
- Mobile banking
- 24/7 customer support
TD Bank checking account types
There are various checking account types you can have today from TD Bank. That allows you to choose an account as per your financial needs. Each account has its advantages and disadvantages, as we are about to see. Let us look at them.
1. Simple Checking Account
Simple Checking is an everyday checking account that has no minimum balance. The account type has a low monthly maintenance fee. You only need to part with a $5.99 low monthly maintenance fee with no minimum balance. Additionally, you get free Mobile Banking with the TD Bank Mobile Deposit feature. Above all, you can get a discount on your first order of checks.
Pros
- Free Mobile Banking with TD Bank Mobile Deposit
- No minimum balance
- Low monthly maintenance fee
- Discount on your first order of checks
Cons
- Monthly fees
2. Convenience Checking Account
Another checking account type you can opt for for your checking services is the Convenience Checking account. The bank is best for everyday banking and has a low minimum daily balance requirement plus great discounts. The account attracts a monthly fee of $15 that you can waive if you maintain a $100 minimum daily balance.
The account also comes with student perks, requiring no monthly maintenance fee if you are 17–23 years old with a student account. You also benefit from free mobile banking.
Pros
- Free mobile banking
- Student perks
- Option to waive fees
- Low minimum daily balance
Cons
- $15 monthly fee for minimum daily balances below $100
3. Beyond Checking Account
The account requires you to pay a monthly fee of $25. However, you can waive the monthly fee in 3 ways, including direct deposits. You also get overdraft paybacks, automatically getting two overdraft fees reversed a year. You can also earn interest on your balance. Above all, there are no ATM fees if you maintain a $2,500 minimum daily balance.
Pros
- Earns interest
- Option to waive fees
- Overdraft Payback
Cons
- Monthly fees
4. Business Checking Account
You can open a checking account with the bank to cater to your small business needs. One can get various business accounts from the bank, including TD Business Premier Checking, TD Business Convenience Checking Plus, TD Business Interest Checking Plus, and TD Business Simple Checking.
The accounts come with 24/7 customer support, online banking, and instant debit card issuance, among other benefits.
Pros
- 24/7 customer support
- Online banking
- Various merchant solutions
Cons
- They may not suit large businesses
5. TD Premier Checking Account
It is among the best checking accounts since it has no minimum deposit requirement to open an account. The monthly maintenance fee is $25.00. You can waive the fees if you maintain a minimum daily balance of $2,500. You also earn interest from your account.
Pros
- Earns interest
- Ability to waive fees
- No minimum account opening deposit
Cons
- High fees
TD Bank Convenience Student Checking Account
Since students need checking accounts, TD Bank offers the Convenience Student checking account. The account has no monthly maintenance fees and gives various perks to students. As I mentioned, the account allows you to do free Mobile Banking with TD Bank Mobile Deposit.
However, the account does not earn interest on the balance. Also, it has no minimum deposit requirements when opening your account.
TD Bank Convenience Student Checking Account Fees
As an account holder, you should part with a monthly fee of $15. You can waive the monthly fee with a $100 minimum daily balance. That makes it an affordable account to hold as a student.
TD Bank Convenience Student Checking Account ATM & Debit Card Usage
You can use the card to access cash at TD ATMs 24/7 in the US and Canada. Additionally, you may use your card to purchase goods and services online and at stores. The card allows easy and convenient access to funds from your student checking account.
Limitations of TD Bank Checking Account
A few limitations come with the TD Bank Checking accounts. They include the following.
- Monthly fees if you don’t maintain a minimum balance
- Interest earning is limited to specific accounts
- You may pay for paper statements
Conclusion
TD Bank, N.A is an American national bank and the US subsidiary of the multinational TD Bank Group. The firm mainly operates across the East Coast in fifteen US states. TD Bank is the seventh-biggest bank in the United States by deposits and the 11th-largest bank in the US by total assets. You can enjoy various products from the company, with checking accounts being the main ones. We have student checking accounts, business checking accounts, and so on.