Is TD Bank a good bank?
TD Bank is a great choice for those who don't have a particularly large amount of savings and would appreciate having around-the-clock help when they need it. Bank of America, on the other hand, is a big chain for a reason: it offers some great benefits.
- APYs are generally below the national average. ...
- To avoid monthly fees, customers need to meet minimum requirements for most checking and savings accounts.
- There is a $3 fee for using a non-TD Bank ATM.
- Overdraft fee is $35 per transaction and can be charged up to three times a day.
FDIC coverage for your TD Bank accounts
All deposits and deposit products are FDIC-insured, up to $250,000 per depositor, per ownership category.
Chase: Rates. Both banks offer relatively low interest rates, but TD offers the potential for higher rates on its savings and checking accounts than Chase does. TD Bank offers a rate that starts at 0.01% APY for it's signature savings and caps out at 4.00% based on how much you have in the account.
With roughly $1.26 trillion in assets, TD Bank would certainly be considered too big to fail, and many believe the large banks are set to benefit from this recent banking crisis because they're likely to be seen as a safe place to transfer funds into.
What Is TD Bank Good At? TD Bank is accessible for those who like to do their banking in person. Many of its branches are open on Saturdays and Sundays. It's also a good option for those traveling abroad because its debit cards charge no foreign transaction fees.
The Toronto-Dominion Bank, or TD Bank, is known as one of Canada's Big Six banks. It serves more than 27.5 million customers around the world, including 15 million in Canada, and has a robust product lineup that reflects its many decades in business.
TD Bank is financially strong
TD Bank is well-positioned to withstand economic cycles due to our: Diverse business model: Our full range of retail, small business and commercial banking products allows us to stay resilient to changes in individual sectors of the economy.
TD Bank is a subsidiary of TD Bank Group, a Canada-based multinational banking and financial services headquartered in Toronto, Ontario and founded in 1955. TD Bank has been a subsidiary of TD Bank Group since it was established as a separate division of the company in 2008.
Bank of America should be your choice if you're more secure and have some wiggle room with your finances. TD Bank is better suited for banking newbies. Some of you may fall in the middle. In that case, it may be best to determine which bank would be better for you according to respective rates, accounts and fees.
Where does TD Bank rank in US?
#10 TD Bank
The TD Group offers the usual savings and checking accounts, mortgage and other loan options, credit cards and investing options.
Capital One continues to top JPMorgan, TD in big-bank satisfaction survey.
TD Bank is a great choice for those who don't have huge savings and would like human assistance whenever they need it. TD Bank is better suited for people new to banking, such as students or people in their early twenties. Wells Fargo offers their customers convenient access to their accounts.
The enforcement action comes at a critical time for TD. Canada's second-largest bank is also facing scrutiny over its anti-money-laundering practices in the United States, its main growth market.
TD Bank agrees to pay $1.2 billion settlement over alleged role in infamous $7.2 billion Texas Ponzi scheme. TD Bank denies any wrongdoing. The scheme involving disgraced Texas financier Allen Stanford collapsed in 2009 during a federal investigation.
Why are investors shorting TD? TD is being targeted because of its planned takeover of US regional bank First Horizon, its exposure to Canada's weakening housing market, and its ties to troubled US lender Charles Schwab, per Bloomberg.
These institutions hold a total of 1,024,001,062 shares. Largest shareholders include Royal Bank Of Canada, Bank Of Montreal /can/, Vanguard Group Inc, Canoe Financial LP, CIBC World Markets Inc., Td Asset Management Inc, FIL Ltd, Bank Of Nova Scotia, National Bank Of Canada /fi/, and Mackenzie Financial Corp .
Fitch Affirms The Toronto-Dominion Bank at 'AA-'; Outlook Stable. Fitch Ratings - New York - 20 Jun 2023: Fitch Ratings has affirmed The Toronto-Dominion Bank's (TD) Long-Term Issuer Default Rating (IDR) at 'AA-' and its Short-Term IDR at 'F1+'. The Rating Outlook is Stable.
In terms of market capitalization, TD Bank also ranked second in 2023, with its main competitor, Royal Bank of Canada (RBC), holding the leading position.
On February 1, 1955, The Bank of Toronto and Dominion Bank merged to form Toronto Dominion Bank, but TD traces its roots back even further to the founding of The Bank of Toronto in 1855.
Why is TD Bank the best bank?
TD Bank offers long hours at many branches and 24/7 phone support. Plus, it has more than 2,600 ATMs from Maine to Florida, and customers have free access to TD Bank's ATMs in Canada. Customers have the option of banking online, or using TD Bank's mobile banking app, which is available for iOS and Android devices.
While both banks offer a wide range of products and services, there are some key differences to consider. TD is known for its top-notch customer service and convenient branch locations with longer hours. TD may have higher monthly fees and less competitive interest rates compared to RBC.
Total debt on the balance sheet as of October 2023 : $297.52 B. According to Toronto Dominion Bank's latest financial reports the company's total debt is $297.52 B. A company's total debt is the sum of all current and non-current debts.
Toronto Dominion Bank long term debt for 2023 was $7.132B, a 18.67% decline from 2022. Toronto Dominion Bank long term debt for 2022 was $8.77B, a 1.8% decline from 2021. Toronto Dominion Bank long term debt for 2021 was $8.931B, a 4.61% increase from 2020.
At TD Bank, certificates of deposit are FDIC-insured. That means the Federal Deposit Insurance Corp. insures up to $250,000 per depositor, per insured bank, for each account ownership category.
