TD Bank vs. Chase: 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.

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 TD Bank Convenience Checking Account - Featured Reward Value 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 TD Bank Beyond Checking Account - Ongoing Bonus bonus with another TD checking account (TD Bank Beyond Checking Account - Editorial Name Only), 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 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 get a saving account bonus, you may lean more toward TD Bank than Chase. You may be eligible for a cash bonus of TD Simple Savings Account - Intro Bonus. 

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 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 TD Bank Choice Promotional Certificate of Deposit 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. Both TD Bank CD rates and Chase CD rates are relatively low, except on certain terms. So the best fit could come down to which term you want.

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 2023, JP Morgan Chase was required to pay $75 million in a settlement with the U.S. Virgin Islands that accused the financial institution of failing to report suspicious activity regarding Jeffrey Epstein's sex trafficking operation. 

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

Is TD Bank better than Chase?

TD Bank might be a better option if you'd like to open a CD. You'll only need TD Bank Choice Promotional Certificate of Deposit to open a CD at TD Bank, while at Chase, you need a minimum deposit of Chase Certificate of Deposit (CD). It also may be easier to waive monthly service fees on the TD Bank Convenience Checking Account than Chase Total Checking®. 

Who has more branches, Chase or TD Bank?

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.