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  TD Bank Preferred Savings Account

TD Bank Preferred Savings Account

in Savings Accounts from TD Bank · fdic

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TD Bank Preferred Savings Account

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in Savings Accounts from TD Bank · Member FDIC

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Highlights
Monthly Fee $0 - $15
APY (Annual Percentage Yield) 0.1% - 1.7%
APY Minimum Balance N/A

TD Bank Preferred Savings Account Review

TD Bank Preferred Savings Account is offered by TD Bank, a bank founded in 1855 and based in Wilmington, DE. TD Bank Preferred Savings Account is available in 15 states (and Washington, DC).

Key Takeaways
  • Very high APY. This account offers an annual percentage yield of up to 1.7%, which is much higher than the average for a checking account.
  • $0 monthly Service Charge available. This account charges a monthly service fee of up to $15, but the fee is waived if you keep a minimum balance of $20,000.
  • No ATM fees. TD Bank Preferred Savings Account does not charge fees on ATM transactions.
  • ATM fee reimbursements. This account will reimburse you for ATM fees (see terms and conditions for details).
TD Preferred savings Pros & Cons
Pros Cons
  • High-interest yield.
  • Access to physical branches.
  • No charge on incoming domestic or international wire transfers.
  • No signup bonus.
  • Does not provide access to a nationwide ATM network.
  • Does not come with a debit card
  • Only available in 15 states.
  • Higher than average wire transfer fees.
  • Monthly service charge.
TD Preferred savings FAQ

Are savings accounts from TD Bank federally insured?

Yes, your TD Bank savings accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

Does TD Bank offer a signup bonus?

TD Preferred savings doesn't offer a signup bonus.

What is the minimum initial deposit for TD Preferred savings?

TD Bank Preferred Savings Account Minimums
Description
Minimum Balance to Avoid Monthly Fee Starting at $20,000

What APY does TD Bank offer?

TD Preferred savings offers an APY starting at 0.1% and ranging up to 1.7% (APY stands for annual percentage yield, rates may change).

What fees does TD Preferred savings charge?

TD Preferred savings does not charge a monthly service fee. See the fee breakdown section below to view all fees.

However, you can waive the monthly fees if you have a minimum daily balance of $20,000.

  • Outgoing domestic bank transfers come with a $25 fee.
  • Outgoing international bank transfers come with a $40 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.

What features and perks does TD Preferred savings offer?

This savings account includes the following features:

  • ATM reimbursement - This account provides ATM access and will reimburse you for the ATM fees charged by other networks.
  • Check images with monthly statement - Reconciling your accounts and complying with document retention standards is easier when you have access to a copy of your checks for each statement period.
  • Fraud monitoring - TD Preferred savings monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location, or you make a sudden string of costly purchases.
  • Mobile Banking Services - TD Preferred savings allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.

Can you set up a direct deposit to TD Preferred savings?

In most cases, the answer is yes. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.

What is the customer support email for TD Preferred savings?

The customer support email for TD Preferred savings is customer.service@td.com.

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Availability

  Available in 15 states and Washington, D.C.
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Massachusetts
  • Maryland
  • Maine
  • North Carolina
  • New Hampshire
  • New Jersey
  • New York
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • Virginia
  • Vermont

Feature Breakdown

Minimum Balance to Avoid Monthly Fee Starting at $20,000
Wire Transfer Fee - Domestic (Incoming) $0
Wire Transfer Fee - International (Incoming) $0
Monthly Fee $0 - $15
Returned Deposit Fee (Domestic) $15
Wire Transfer Fee - Domestic (Outgoing) $25
Wire Transfer Fee - International (Outgoing) $40
Account Features
  • No ATM Fees
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • Interest Bearing Account
  • ATM Reimbursement
  • Check Images with Statement
  • Mobile Banking
  • Fraud Monitoring
  • Automatic Transfers
  • Bauer Financial A+/A Rating
  • Branch Access
  • Member FDIC
APY (Annual Percentage Yield) 0.1% - 1.7%

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