ReviewUpdated
By:Kailey Hagen
Our Banking Expert
The TD Bank Beyond Checking account could prove to be a rewarding account to own as long as you have enough money to waive its monthly fee. It offers rare perks like overdraft fee reimbursem*nts, a free outgoing wire per statement cycle, and waived fees on other TD Bank deposit accounts. Read our full TD Bank Beyond Checking account review to learn if it’s right for you.
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Ratings Methodology
Rates asof Sep 28, 2023
TD Bank Beyond Checking
Member FDIC.
Rating image, 3.50 out of 5 stars.
Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
3.50/5
APY
0.01%
Min. To Earn APY
$50,000
- No ATM fees with minimum balance
- Rate discounts and waived fees on other products
- Two overdraft fee reimbursem*nts annually
- One free outgoing wire transfer per statement cycle
- Maintenance fee
The TD Bank Beyond Checking account has a lot of great features on its own, including overdraft and ATM fee reimbursem*nts. But those who plan to do all their banking in one place will get the greatest value from this account. Just make sure you can avoid the monthly maintenance fee.
Checking account comparison
We recommend comparing checking account options to ensure the account you're selecting is the best fit for you. To make your search easier, here's a short list of standout accounts.
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| Account | APY | Next Steps | Min. to earn APY |
|---|---|---|---|
Member FDIC. Rating image, 4.00 out of 5 stars. Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. | 0% | Open Account for Discover Cashback Debit | N/A |
Member FDIC. Rating image, 4.75 out of 5 stars. Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. | 0.50% Rate infoSoFi members with direct deposit can earn up to 4.50% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum direct deposit amount required to qualify for the 4.50% APY for savings. Members without direct deposit will earn up to 1.20% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 8/2/2023. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. | Open Account for Sofi Checking and Savings |
Full TD Bank Beyond Checking Review
Top perks
No ATM fees with minimum balance: TD Bank never charges customers ATM fees, whether they use the bank's own network or another ATM network. It'll also reimburse you for out-of-network ATM fees -- but only if you keep at least $2,500 in your TD Bank Beyond Checking account.
Earns interest: TD Bank Beyond Checking account's interest rate isn't high. But it's better than many checking accounts that don't offer interest at all.
Two overdraft fee reimbursem*nts per year: TD Bank automatically reimburses the first two overdraft fees in a calendar year. Beyond Checking customers don't have to do anything to get reimbursed as the bank takes care of this.
Waived fees on other deposit accounts: TD Bank Beyond Checking customers won't have to pay monthly maintenance fees on savings accounts or money market accounts they open with the bank. The same goes for a single linked TD Simple CheckingSM account.
One free outgoing wire transfer per statement cycle: Like most banks, TD Bank charges customers for outgoing wire transfers, whether they're domestic or international. However, TD Bank gives Beyond Checking customers one free outgoing wire transfer per statement cycle.
Free bank checks: Customers receive free standard checks or discounts on other selected check styles.
Zero liability protection on debit card purchases: If an identity thief uses your debit card to make fraudulent purchases, TD Bank won’t charge you anything for them -- even if it takes you several days to realize and report the issue.
Rate discounts on other products: With a TD Bank Beyond Checking account, you'll be eligible for discounts on home equity loans and personal loans.
What could be improved
Maintenance fee: The TD Bank Beyond Checking account's maintenance fee is a little higher than most checking accounts. There are options to waive the fees, but they're also a little more challenging than with other banks.
To avoid the fee, you need to do one of the following:
- Receive $5,000 or more in direct deposits per month
- Have a minimum daily balance of $2,500
- Have a minimum combined balance of $25,000 across all your eligible accounts
If you can't routinely fulfill one of these requirements, you can find a more affordable checking account elsewhere.
Fees
| Fees | Monthly Maintenance | ATM Withdrawal | Overdraft | Stop Payment | Insufficient Funds |
|---|---|---|---|---|---|
| TD Bank Beyond Checking | $25 | $0 | $35 per item, max three per day | $0 | $35 |
How to access your money
Here's a closer look at how to deposit and withdraw funds from your TD Bank Beyond Checking account.
Deposit options
You can deposit money into your TD Bank Beyond Checking account in any of these ways:
- Electronic transfer
- Wire transfer
- Mailed checks
- Mobile-deposited checks
Withdrawal options
Here are your choices for withdrawing money from your TD Bank Beyond Checking account:
- Electronic transfer
- Wire transfer
- Check withdrawal
- ATM withdrawal
- Point-of-sale cash withdrawal
This checking account is right for you if:
The TD Bank Beyond Checking account is a great choice if you have average balances of a few thousand dollars and want to keep all your accounts with one bank. The account offers rare relationship benefits, including plenty of fee waivers. It could turn out to be an affordable option -- as long as you can avoid the monthly maintenance fee.
Our Banking Expert
By:Kailey Hagen
Writer
Kailey Hagen has been writing about small businesses and finance for almost 10 years, with her work appearing on USA Today, CNN Money, Fox Business, and MSN Money. She specializes in personal and business bank accounts and software for small to medium-size businesses. She lives on what's almost a farm in northern Wisconsin with her husband and three dogs.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.
Discover Financial Services is an advertising partner of The Ascent, a Motley Fool company. Kailey Hagen has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Axos Financial and Target. The Motley Fool recommends Discover Financial Services. The Motley Fool has a disclosure policy.
