TD Bank and Bank of America are two established financial institutions that serve customers across the country. But TD’s 1,300 branches are scattered across the East Coast and Bank of America is found in 38 states. Compare account offerings, rates and fees to find out which bank is right for you.
TD has two traditional savings accounts, one of which has the potential to earn up to 0.05% APY. Since Bank of America’s one account earns a maximum of 0.06%, this is the clear winner.
Winner: TD Bank
The Finder Score crunches over 250 savings accounts from hundreds of financial institutions. It takes into account the product's interest rate, fees, opening deposit and features - this gives you a simple score out of 10.
To provide a Score, Finder’s banking experts analyze hundreds of savings accounts against FDIC-reported national averages as a baseline. Accounts with rates well over the national average are scored the highest, while accounts with rates well below are scored low.
Both banks offer three standard checking options, and while they both have an account that pays interest, the amount you’ll earn is insignificant. TD wins this category for its lower deposit requirements, free out-of-network ATM transactions and a number of waived fees.
Winner: TD Bank
The Finder Score crunches over 300 checking accounts from hundreds of financial institutions. It takes into account the product's monthly fees, overdraft fees, opening deposit, customer support options, ATM network and features — this gives you a simple score out of 10.
To provide a Score, Finder’s banking experts analyze hundreds of checking accounts against what we consider is the best option: no monthly fees, no overdraft fees, a large ATM network of 50,000 or more, additional features outside of typical banking services, and the optional perk of earning interest. Accounts that are nearly free to maintain and use are scored the highest, while accounts with costly fees and few features are scored the lowest.
TD has far more term options, higher APYs, lower minimum deposit requirements and one penalty-fee withdrawal, making it the better option for CDs.
Winner:TD Bank
The Finder Score analyzes hundreds of CDs from more than 100 institutions. It takes into account the product's interest rate for available terms and opening deposit requirements - this gives you a simple score out of 10.
Different banks and credit unions offer CDs for various lengths of time, ranging from as short as seven days to as long as 20 years. For our ratings, we consider the term lengths that the FDIC uses in its monthly updates on national rates.
If a bank or credit union doesn’t offer a CD for a specific term used by the FDIC, we don’t penalize it: Instead, we simply don’t rate it. Each of the standard term lengths has its own APY rating based on the FDIC’s average rates.
Both banks have a wide selection of financial products, but TD wins for its larger selection of investing and retirement products.
Both TD and Bank of America have customer service that’s available seven days a week, but TD offers extended banking hours and 24/7 access to customer service.
| TD Bank | Bank of America | |
|---|---|---|
| Branches | 1,300 in 17 states plus 1,150 in Canada | 4,400 in 38 states plus branches in 40 countries |
| ATMs | 2,500+ | 16,000 |
| Customer service |
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Both banks have special features that make them unique:
| TD Bank |
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| Bank of America |
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Winner: Tie
Pick TD Bank if you live on the East Coast or if you want extended banking hours and 24/7 customer service. Choose Bank of America if you want military benefits, rewards programs and opening bonuses. Bank of America and TD Bank both offer a selection of banking products, but both banks pay lower interest than other institutions.
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