TD Bank vs Ally Bank: Which Is Better?

TD Bank is located on the East Coast with 1,300 locations offering low minimum balance requirements as well as extending banking hours with a 24/7 customer service by phone.

They offer different types of banking services depending on your needs – from personal checking to investment options like CDs.

On the other hand, Ally Bank offers high interest rates on their savings as well as offering interest on their checking and CD account options.

There’s no minimum deposits or service fees on their banking products.

Continue reading below to see a side-by-side comparison between the two banks, so you can see which one offers the services you need the most

	TD Bank	Ally Bank
Locations	1300 locations along the east cost (Locator)	Online Only
ATMs	1,300 ATMs throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida	Over 43,000 no-fee Allpoint ATMs
Savings	3/5	4/5
CD	3.5/5
Checking	4.5/5	4/5
Money Market	3.5/5	4/5
Customer Service	5/5	5/5
Mobile App	4.5/5	5/5
Pros	-Extended banking hours -Low requirements to waive monthly fees -No foreign transaction fees	-CD options -No account minimums -Good customer service
Cons	-No free checking -Low APY -Only on East Coast	-Low Checking APY for lower balance customers
Bottom Line	TD Bank offers a variety of banking services that includes saving, checking, and CDs.	Ally Bank is an online only based banking that offers full service with the most competitive rates.

TD Bank Promotions

• Earn $300 when you receive direct deposits totaling $2,500 or more within 60 days • Get more from your checking account. With TD Beyond Checking with Payback Plus, you'll earn interest and get reimbursed for non-TD ATM transactions, Overdraft Payback and more. • Monthly maintenance fee waived when you receive monthly direct deposits of $5,000 or more within a statement cycle, or maintain a minimum daily balance of $2,500, or a combined balance of $25,000 across eligible TD accounts. • TD ATM fees waived at any ATM and non-TD fees reimbursed when you keep at least a $2,500 daily balance • Get overdraft fees automatically reversed up to two times a year. • Get your money where it needs to go —fast— with Rush Bill Payments, Send Money with Zelle®, incoming wires and a reimbursement for one outgoing wire (domestic or international) per statement cycle. • TD checking accounts come with an instant-issue debit card - and, you can pay with confidence with contactless technology Visa Zero Liability protection and 24/7 fraud monitoring. • Monthly maintenance fee waived on one TD Simple CheckingSM account and any Savings accounts. Plus, get free standard check orders, money orders, official bank checks and stop payments. Apply Now at TD Bank

With the TD Convenience CheckingSM Account: • Earn $200 when you receive direct deposits totaling $500 or more within 60 days • Low minimum daily balance of $100 waives the $15 monthly fee. • Students and young adults ages 17 through 23 get additional perks like no minimum balance requirements and no monthly maintenance fee. • Instantly replace a lost, stolen, or damaged debit card by visiting a TD Bank location near you • Access accounts via Online Banking with Bill Pay, Online Statements, Send Money with Zelle and TD Bank Mobile Deposit. Plus, get 24/7 cash access at TD ATMs in the U.S. and Canada and around-the-clock Live Customer Service. • TD checking accounts come with an instant-issue debit card - and, you can pay with confidence with contactless technology Visa Zero Liability protection and 24/7 fraud monitoring. • Get a 0.25% discount on TD Bank Home Equity and Personal Loans. Apply Now at TD Bank

Ally Bank Promotions

Compare to Other Banks

TD Bank:

• TD Bank vs Citibank
• TD Bank vs Wells Fargo
• TD Bank vs PNC Bank
• TD Bank vs SunTrust Bank
• TD Bank vs Capital One
• TD Bank vs Bank of America

Ally Bank:

• Ally Bank vs Bank of America
• Ally Bank vs Wealthfront
• Ally Bank vs Capital One
• Ally Bank vs Marcus by Goldman Sachs
• Ally Bank vs Axos Bank
• Ally Bank vs CIT Bank
• Ally Bank vs Discover Bank

Bottom Line

Which Bank is Better: TD Bank or Ally Bank?

In summary:

• If you live in the near the East Coast, take advantage of the many accounts that TD Bank has to offer as well as the extended customer hours and easy online banking.
• Ally Bank offers good interest rates and no account minimum or service fees.

For more variety of options, see our list of the best bank account bonuses & savings account offers.

More on TD

• What Are TD Bank’s Hours?
• TD Bank Routing Numbers By State
• How To Open a TD Bank Account
• How To Find and Use Your TD Bank Login

More on Ally

• How To Open an Ally Bank Account
• What Are Ally Bank’s Hours?
• How To Find and Use Your Ally Bank Login
• Ally Bank Routing Number

HSBC Bank Promotions: $1,500, $2,500 Checking Bonus – October 2024

Chase Total Checking $300 Bonus – Ends 1/22/25

Huntington Bank Promotions for October 2024: $100, $400, $1,000 Checking Bonuses – Ends 1/7/25

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