Which Brick-and-Mortar Bank Is Better?

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The bottom line: TD Bank and Chase are two of the best national banks out there. TD Bank makes it a bit easier to waive monthly service fees on its standard checking account than Chase. It has a lower minimum opening for CDs than Chase CDs. But Chase has a wide range of checking accounts to choose from, many of which pay sign-up bonuses. If you would like to open a traditional savings account, you could go with either bank since the accounts are very similar. 

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

• 

  TD Bank

• 

  Chase Bank

Easy to waive fees on checking account

Editor's overall rating

Varies depending on account

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

Editor's overall rating

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. 

Keep in mind, you can also earn a $300 bonus with another TD checking account (TD Bank Beyond Checking Account), 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.

Winner: Chase

Chase has multiple checking accounts to choose from, and depending on which one you choose, you can earn bonuses as high as up to $3,000. Still, TD Bank might be a better fit if you're unable to waive Chase monthly service fees.

Chase Total Checking®

Earn $300 bonus when you open an account and make direct deposits totaling $500 or more within 90 days of coupon enrollment (offer expires on 04/17/2024)

Fees

$12 monthly service fee

Annual Percentage Yield (APY)

None

Minimum Deposit Amount

$0

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No required opening deposit
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Over 4,700 branches
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. $200 sign-up bonus
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Free overdraft protection when you link to savings for automatic transfers

• con icon Two crossed lines that form an 'X'. $12 monthly fee unless you meet direct deposit or minimum balance requirements
• con icon Two crossed lines that form an 'X'. Fee for non-Chase ATMs
• con icon Two crossed lines that form an 'X'. 3% foreign transaction fee
• con icon Two crossed lines that form an 'X'. $34 overdraft and non-sufficient funds fees (no fee if you're overdrawn by $50 or less at the end of the business day)

• New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities
• Access to more than 15,000 Chase ATMs and more than 4,700 branches
• Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
• JPMorgan Chase Bank, N.A. Member FDIC
• Open your account online now
• Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
• Chase Overdraft Assist℠ -3 no overdraft fees if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day*

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 $200 when you deposit $10,000 or more in new money within 20 days, then maintain that balance for 90 days from the date the deposit requirement is initially met (Offer ends April 30, 2024). 

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. 

Winner: Tie

It's a toss-up between the two banks since the savings accounts have similar features. The requirements for waiving the $5 monthly service fee are nearly identical. Your best option might ultimately hinge on which bank's branches are closer to your home or if you're eligible for a TD Bank savings account bonus. 

TD Simple Savings Account

Earn $200 when you deposit $10,000 or more in new money within 20 days, then maintain that balance for 90 days from the date the deposit requirement is initially met (Offer ends April 30, 2024)

Fees

$5 monthly service fee

Annual Percentage Yield (APY)

0.02%

Minimum Deposit Amount

$0

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No monthly fee for students, or for adults under age 24 or age 62 or older
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No monthly fee for the first 12 months, with recurring monthly deposits of $25
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Mobile check deposit
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No minimum opening deposit

• con icon Two crossed lines that form an 'X'. Low APY
• con icon Two crossed lines that form an 'X'. $5 monthly service fee

TD Bank Signature Savings Account pays a higher interest rate than the TD Simple Savings Account on balances of $10,000 or more. However, to get the most out of this account, you'll need to qualify for a relationship rate and meet one of the requirements to waive the TD Signature Savings - Fees Display. Ultimately, you can find much better rates with the best online banks.

• Earn $200 when you deposit $10,000 or more in new money within 20 days, then maintain that balance for 90 days from the date the deposit requirement is initially met (Offer ends April 30, 2024)
• No monthly service fee for students, adults under age 24 or age 62 or older
• Waive $5 monthly service fee by maintaining $300 minimum daily balance
• No monthly fee for the first 12 months if you make recurring $25 monthly deposits
• Interest compounded daily
• FDIC insured

Chase Savings℠

Fees

$5 monthly service fee

0.01%

Minimum Deposit Amount

$0

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No minimum opening deposit
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Relatively easy to waive $5 monthly fee
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Link to a Chase checking account for free overdraft protection

• con icon Two crossed lines that form an 'X'. Low APY
• con icon Two crossed lines that form an 'X'. Interest compounded monthly, not daily
• con icon Two crossed lines that form an 'X'. $5 monthly service fee

• Access to 15,000 Chase ATMs and over 4,700 branches
• Link this account to your Chase checking account for Overdraft Protection
• Waive $5 monthly service when you maintain a $300 balance, automatically transfer $25 each month from your Chase checking account, link to Chase College Checking for Overdraft Protection, link to a qualifying Chase checking account, or are under age 18
• Manage your accounts, deposit checks, transfer money and more — all from your device
• Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com
• Member FDIC

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. 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.

Winner: TD Bank

TD Bank CDs require a much lower minimum opening deposit than Chase CDs. You may also prefer TD Bank to Chase if you'd like to open a special type of CD, such as a no-penalty CD or step-up CD.

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) has an A- rating. That said, Chase has had a recent public controversy.

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. 

The BBB gives TD Bank an A+ rating, but it also has a recent settlement.

In 2023, TD Bank had to pay $1.2 billion in a settlement that claimed the bank was involved in a Ponzi scheme started by Robert Allen Stanford, the former chairman of Stanford International Bank. TD Bank provided correspondent banking services to Stanford International Bank.

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.

Banking Reporter

Compliance Associate

Evelyn He is a compliance associate at Business Insider who supports the Personal Finance Insider team. Personal Finance Insider is Business Insider's personal finance section that incorporates affiliate and commerce partnerships into the news, insights, and advice about money that Business Insider readers already know and love.The compliance team's mission is to provide readers with stories that are fact-checked and current, so they can make informed financial decisions. The team also works to minimize risk for partners by making sure language is clear, precise, and fully compliant with regulatory and partner marketing guidelines that align with the editorial team.Before joining Business Insider, she served in various legal and compliance roles in different industries, including the legal and pharmaceutical industries.   Evelyn obtained her M.S. degree in Marketing at Boston University in 2022. Prior to combining and consolidating her knowledge of law and business, she spent one year finishing 1L courses at Suffolk University Law School to further her legal knowledge. She has also completed MBA business law courses while working on her Bachelor of Business Administration in Management at the University of Massachusetts, Amherst. Outside of work, she enjoys spending time with her 14-year-old Shih Tzu named Money, and her 5-year-old Bichon named Tibber.

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