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Chase Bank VS TD Bank

Which bank is better for you?

  • Financial Rates: 3.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 3.0 Star Icon
No Rate Information
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Pros:

  • Chase Pay
  • Chase Liquid
  • Credit Journey
  • Chase QuickDeposit

Cons:

  • Products Not Offered Everywhere
  • Accounts Have Fees
  • High Opening Amount
  • High Daily Balances
  • Financial Rates: 3.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 3.0 Star Icon
No Rate Information
Star Icon Star Icon Star Icon Star Icon Star Icon

Pros:

  • Wide variety of accounts offered
  • Specific checking accounts available
  • Business prepaid cards
  • Good variety of CD options

Cons:

  • Products not available everywhere
  • Accounts have monthly fees
  • Interest rates are low
  • Not all checking accounts earn interest
Chase Bank Review

Chase Pay is a digital wallet. It makes purchases easy. Pay for gas without getting out of the car. Pay without transferring your card number to websites and apps with the Chase Pay logo. You can use the QR code at stores. Coupons are automatically added to your favorite stores.

Chase Pay lets you use your Chase Ultimate Reward points to make purchases. This keeps your information secure and up to date. Thousands of places accept Chase Pay including Walmart and Best Buy. You still earn reward points when you use Chase Pay. This cannot be used with subscriptions like Netflix or Amazon Prime or outside the U.S.

Chase Liquid is a reloadable card. Opening deposit is $25. Money is directly deposited on the card. Money can be deposited through Chase QuickDeposit, direct deposits, or you can transfer money from other accounts to the cards. With the Chase Liquid card, you can make purchases, withdraw cash, pay bills, and use Zelle. It offers zero liability protection for unauthorized transactions. There is a $4.95 monthly fee to use Chase Liquid.

Chase Credit Journey helps get your credit under control. This is free to anyone, not just Chase customers. Get email alerts about changes to your credit. Check your credit score anytime for free, without hurting your score. Credit Journey shows how credit is affected when debts are paid off, or new accounts opened. Using this tool helps prevent fraud.

Deposits are easy with Chase QuickDeposit in the Chase Mobile App. Snap a picture of your check and follow the instructions. Make a deposit anytime, anywhere from a mobile phone or tablet. Step-by-step instructions are on their website.

Not all Chase products and features are offered in all areas. Input your zip code to learn what products are available in your area.

All Chase accounts, except CDs, have fees. Savings and checking accounts have a monthly maintenance fee. The fees range from $5 to $25. Waive fees by having a minimum balance in the account, or by linking a checking and savings account together. Direct deposits or automatic payments waive the monthly fees as well.

Every account with Chase needs a minimum of $25 to open. Some accounts require $100 as the opening balance.

Savings and checking accounts require a daily balance to avoid fees. The daily balances range from $1,500 to $100,000. If you cannot maintain this amount, you will have to use one of the other ways to have your fees waived.

Read the full Chase Bank review.

TD Bank Review

TD Bank offers a large selection of bank accounts. They offer personal checking, savings, and money market accounts. CDs, loans, and prepaid cards are offered. TD Bank offers accounts for small and commercial businesses. Checking, savings, and money market accounts are available for businesses. Loans, CDs, and credit cards for businesses are also offered.

TD Bank offers two specific checking accounts. One is for those over 60 years old, and another account specific for students. The student checking account does not have a monthly fee. The TD 60 Plus account requires $250 be in the account to waive the $10 monthly fee. The TD 60 Plus checking earns interest.

TD Bank offers three prepaid cards for businesses. You can use the cards to pay employees their paycheck or as part of an incentive program. Load a specific amount for expenses to the card or use them as a reward or refund. TD Bank offers reloadable cards or one-time use cards. The cards are accepted anywhere Visa is accepted.

TD Bank offers a good variety of CDs. TD Bank’s No-Catch CDs allow you to make one withdrawal each CD term without penalty. Step Rate CDs increase your interest each year. The 12-month Rate Bump CD offers competitive interest rates. To qualify for that CD, you must have a qualifying checking account in good standing. The rate bump increases the amount of interest your CD earns by more than a full percent. Only $250 is required to open all TD Bank CDs.

Accounts with TD Bank are not offered everywhere. To qualify for an account, you must have an address within the footprint of TD Bank. Those areas are on the East Coast, ranging from Maine to Florida. They are also in parts of Canada.

Most all TD Bank accounts have a monthly maintenance fee. The fees range from $4 to $25 each month, depending on the account. Not all account fees are easy to waive. Having a required amount in the account is the most common way to waive the account fees. Signing up for online statements will lower the monthly fee, not waive it. Having a direct deposit into the account will not waive the monthly fees.

Interest rates for TD Bank accounts are low. They are competitive with your typical brick and mortar bank rates. The TD Bank account rates are not competitive with online-only accounts. Only a few CDs offer interest rates competitive with online-only accounts.

Not all TD Bank checking accounts earn interest. The Premier, Relationship, and the TD 60 Plus checking account are the three that earn interest. The 60 Plus checking account does not require a large balance to avoid the monthly fee. The Premier account requires $2,500, and the Relationship requires $20,000 between TD Bank accounts.

Read the full TD Bank review.

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