Which Brick-and-Mortar Bank Is Better?

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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

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Easy to waive fees on checking account

Editor’s overall rating

3.75/5

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Varies depending on account

Easier to earn $200 sign-up bonus than with TD Bank

Editor’s overall rating

3.5/5

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Varies depending on account

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.

Keep in mind, you can also earn a $400 bonus with another TD checking account (TD Bank Beyond Checking), but it’s a little harder to qualify for — you’ll need to receive $2,500 in direct deposits in the first 60 days. There are also several Chase checking accounts that offer bonuses, but Chase Total’s is the easiest to qualify for.

TD Bank TD Bank Convenience Checking Account

TD Bank Convenience Checking Account

4/5

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Annual Percentage Yield (APY)

None


Minimum Deposit Amount

$0


Fees

$15 monthly service fee

TD Bank TD Bank Convenience Checking Account

TD Bank Convenience Checking Account

4/5

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Annual Percentage Yield (APY)

None


Minimum Deposit Amount

$0


Fees

$15 monthly service fee


TD Bank Convenience Checking Account

Details


Fees

$15 monthly service fee


Annual Percentage Yield (APY)

None


Minimum Deposit Amount

$0

Pros & Cons
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Highlights
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Additional Reading
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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

4/5

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Annual Percentage Yield (APY)

0.02%


Minimum Deposit Amount

$0


Fees

$5 monthly service fee

TD Simple Savings Account

4/5

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Annual Percentage Yield (APY)

0.02%


Minimum Deposit Amount

$0


Fees

$5 monthly service fee


TD Simple Savings Account

Details


Fees

$5 monthly service fee


Annual Percentage Yield (APY)

0.02%


Minimum Deposit Amount

$0

Pros & Cons
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Highlights
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Chase Savings℠

3.25/5

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Annual Percentage Yield (APY)

0.01% (as of 3/24/2023)


Minimum Deposit Amount

$0


Fees

$5 monthly service fee

Chase Savings℠

3.25/5

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Annual Percentage Yield (APY)

0.01% (as of 3/24/2023)


Minimum Deposit Amount

$0


Fees

$5 monthly service fee


Chase Savings℠

Details


Fees

$5 monthly service fee


Annual Percentage Yield (APY)

0.01% (as of 3/24/2023)

Interest rates are variable and subject to change

Show more


Minimum Deposit Amount

$0

Pros & Cons
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Highlights
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Additional Reading
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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 TD Bank Choice Promotional CD

TD Bank Choice Promotional CD

3.5/5

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Annual Percentage Yield (APY)

0.05% to 5.00%


Minimum Deposit Amount

$250

TD Bank TD Bank Choice Promotional CD

TD Bank Choice Promotional CD

3.5/5

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Annual Percentage Yield (APY)

0.05% to 5.00%


Minimum Deposit Amount

$250


TD Bank Choice Promotional CD

Details


Annual Percentage Yield (APY)

0.05% to 5.00%


Minimum Deposit Amount

$250

Pros & Cons
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Highlights
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Additional Reading
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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. That said, Chase has had a couple of recent public settlements.

In 2020, JP Morgan Chase & Co. paid the Department of Justice $920 million in a settlement that said the bank was involved in wrongful trading. 

In the same year, the US Department of Labor also required Chase to pay $800,000 in back wages in a settlement that accused the bank of underpaying women. 

The BBB also gave TD Bank an A+ rating.

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.

TD Bank vs. Chase: 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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