Table Of Content
When Chase Bank Wins?
Chase has a good selection of banking products including savings accounts, checking, home loans, home equity options, auto loans, and a vast choice of credit card options.
Chase can be a better choice than TD Bank if:
You want to invest less than $250 in a CD
You want a massive choice of credit card options
You want a welcome bonus (TD offers welcome bonus as well)
When TD Bank Wins?
TD Bank offers a comprehensive line of products. In addition to a choice of checking accounts and savings accounts, you can access home equity loans, mortgages, personal loans, investments and credit cards
TD Bank can be a better choice than Chase if:
You need personal loans/money market account
- You want a checking account with no minimum deposit
- You want a welcome bonus (Chase offers welcome bonus as well)
Chase Bank | TD Bank | |
|---|---|---|
Savings Accounts | ||
Checking Accounts | ||
CDs | ||
Money Market Account | ||
Debit Card | ||
Credit Cards | ||
Personal Loans | ||
Mortgage | ||
Government Mortgage | ||
Business Loans | ||
Investing Capabilities |
Savings Account
The Chase and TD Bank have similar savings accounts. Both accounts carry a $5 fee that you can have waived if you have a balance of $300+ or have a $25+ recurring transfer.
Additionally, TD Bank has other saving account options for those with more funds. For example, Beyond Savings offers a slightly higher rate, but you need to maintain a balance of at least $250k.
Overall, both accounts offer lower than average rates compared to the national average.
Chase Bank | TD Bank | |
|---|---|---|
APY | 0.01% | 0.01% – 3.00% |
Fees | $5 per month
Can be waived if you carry $300 account balance at the start of the month, $25+ autosave or linking a Chase checking account
| $5 (can be waived if you carry $300 minimum account balance or $25+ recurring transfer) |
Minimum Deposit | $25 | $0 |
Checking Needed? | No | Yes |
Main Benefits |
|
|
Checking Account
Both banks have several checking account options and while the fee for Chase is slightly lower at $12 compared to TD Bank’s $15, the fee waiver requirements are more complicated.
TD Bank simply requires a minimum daily balance of $100, while Chase needs either $500 or more in electronic deposits per month, $1,500+ account balance, or a combined balance of $5k+ across your qualifying Chase accounts.
TD Bank also offers a welcome bonus and a 0.25% discount on personal loan or home equity loan rates.
Chase Bank | TD Bank | |
|---|---|---|
APY | 0.01% | 0.01% |
Fees | $12
Can be waived if you maintain a $1,000 minimum daily balance, making direct deposits or Associated SnapDeposits of $500 or more per statement cycle, or holding $2,500 in combined deposit accounts with the same statement cycle date or having a Health Savings Account or investment account
| $15 per month
Can be waived if you’re aged 17 to 23 or if you maintain $100 minimum daily balance
|
Minimum Deposit | $0 | $0 |
Main Benefits |
|
|
CDs
Overall, both banks offer low rates on its CD options.
TD Bank has a minimum deposit of $250,and you’ll earn higher rates regardless of your balance.
Chase Bank | TD Bank | |
|---|---|---|
Minimum Deposit | $1000 | $250 |
APY Range | 0.02% – 3.75% | 3.51% – 4.25% |
Mortgage Options
Chase has various mortgage products including fixed and adjustable rate, FHAs, and Jumbo loans. You can get prequalified to speed up the home purchase process and purchase discount points regardless of if you’re buying a home or refinancing.
TD Bank also offers fixed and adjustable rate mortgages, Jumbo loans and government loans. You can also access professional mortgage packages. The terms are typically up to 30 years with down payments as low as 3%.
Loan Options
Although Chase does not offer conventional personal loans, you can still access auto loans to fund the purchase of a new or used vehicle.
However, TD Bank does offer personal loans for up to $50,000 with no origination fees or application fees. Additionally, you’ll have a lending decision in as little as one business day.
Credit Cards
Chase has a very impressive choice of credit card options. There are over 30 including 20+ Travel cards, 7 hotel cards, and 7 business cards. Chase has partnered with high profile brands including United, Southwest, Avios, Hyatt, Amazon, Disney and Starbucks, so you can tailor your card to your favorite brands to get the best rewards. Many cards have no annual fee, but there are a few notable exceptions. For example, the Chase Sapphire Preferred has an annual fee of $95, but it offers 5x points on travel purchases and 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase.
Chase also has some interesting cards like the Chase Freedom Flex. This card allows you to earn 5% cash back on up to $1,500 in combined bonus category purchases each quarter you activate. Chase also has a Freedom Unlimited card where you can earn a bonus after spending $500 on purchases within the first three months of account opening, as well as 5% on travel purchased through Chase, 3% on dining including takeout and drugstores, and 1.5% on all other purchases.
TD Bank has several credit card options. This includes Double Up, which offers 1% cash back when you buy and a further 1% when you redeem your rewards into an eligible TD Bank account. The TD Cash Card has a low intro APR and you’ll receive $150 cash back if you spend $500 within the first 90 days of account opening. There is also a miles card and for those looking to build credit, a secured card that allows your savings account to work as a security deposit and provides 1% cash back on your purchases.
Customer Service
Chase’s customer service system is quite comprehensive. In addition to an indepth help website page, there are customer service lines, Twitter and Facebook support 7 am to 11pm ET Monday to Friday and 10 am to 7 pm ET on the weekends, or you can schedule a meeting with an agent in your local branch. Chase even has a dedicated line for military personnel and veterans whether they are in the country or overseas.
TD Bank has a decent contact us page on its website and provides several options to speak to a member of its customer service team. This includes social media channels, and instant message. However, there is no obvious helpline number to call.
Unfortunately, the levels of service are not confirmed by their respective consumer ratings. Chase has a poor rating of 1.3 out of 5 on Trustpilot, while TD Bank has a 1.2 out of 5 rating.
Online/Digital Experience
Both Chase and TD Bank have an app for iOS and Android devices. Chase’s app has similar ratings with 4.8/5 on the Apple Store and 4.4 out of 5 on Google Play. While the TD Bank app is rated 4.8/5 and 4.4/5 on Apple and Google respectively.
Both sites have a clean design and are easy to use that offers a solid user experience. You can explore and compare products and access how-to videos and other support materials.
Which Bank is The Winner?
Both Chase and TD Bank offer a comprehensive line of products, so to summarize which bank is better, we’ll need to recap the positives and potential negatives.
Chase has some innovative features with the potential for comparable CD rates without TD Bank’s minimum deposit. However, there is little to separate the checking accounts, TD Bank’s savings rate is double that of Chase.
Chase does offer more credit card choices, but don’t rule out TD Bank, which has some interesting options.
| |  | |
|---|---|---|---|
APY Savings
The annual percentage yield (APY) is a percentage that represents the amount of money or interest earned on your savings account over the course of a year. The APY factored in compound interest. A savings calculator can help you quickly determine how much you'll earn with a given APY.
| 0.01% | 0.01% – 3.00% | Up to 5.02%
|
Checking Fee
The monthly fee on checking account
| $12
Can be waived if you maintain a $1,000 minimum daily balance, making direct deposits or Associated SnapDeposits of $500 or more per statement cycle, or holding $2,500 in combined deposit accounts with the same statement cycle date or having a Health Savings Account or investment account
| $15 per month
Can be waived if you’re aged 17 to 23 or if you maintain $100 minimum daily balance
| Compare Banking |
Mobile App Rating | 4.8/5 on iOS 4.3/5 on Android | 4.8/5 on iOS 4.2/5 on Android | Various Banks
|
FAQs
Does Chase offers a promotion for new accounts?
As of March 2023, new Chase total checking customers can currently qualify for a $200 bonus. You’ll need to open a Chase Total Checking account and set up at least one direct deposit to receive your bonus. Chase also offers $100 if you set up a new Chase Secure Banking account.
All of these promotional offers do have qualification criteria, so it is important to check the small print, but these products can be a great way to get your hands on some free cash.
Does TD Bank offers a promotion for new accounts?
Is Chase worth for Millenials?
Most Millennials prioritize convenience and functionality, so Chase has a lot to offer. In addition to its large branch network, the bank has an excellent app and clear website interface to manage your account.
Chase has an impressive product line that includes multiple credit card options, various checking accounts and decent saving rates. This allows you to manage all of your financial activities with just one bank. However, the fees are higher compared to other banks.
What’s the easiest way to close a Chase bank account?
The easiest way to close your Chase bank account is online. You can sign in to your dashboard and under the “Secure Message Center” tab, you should see an option to send a message requesting account closure. Within two business days, you should receive a message detailing any follow up questions and the instructions for the account closure process.
You can also close your account at your local Chase branch or by calling the toll free customer service line, where the Chase representative will guide you through the process.
What is required to open a TD Bank account?
If you want to open a TD Bank account, you’ll need to provide your full name and home address. You will also need to provide your Social Security number, and a government ID, such as your driver’s license, state ID or passport.
How's TD Bank physical coverage?
TD Bank has over 9 million customers in the USA with approximately 1200 branches across 16 states. This means that you are likely to find a local branch, particularly if you live in the Northeast, Carolinas, Florida, Metro D.C and Mid Atlantic areas.
Can you close TD Bank account over the phone/online?
The standard way to close your TD Bank is to visit your local branch or mail in a written request. If you have money in your account, these are the only two methods to close your account. If you’re mailing in a letter, you also need to ensure the letter includes the account numbers and is signed and notarized.
However, if your account has a zero balance, you can use the Online Banking platform to close the account. You can send a secure message request or call the customer support line.
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