Is TD Bank financially secure?
All deposits and deposit products are FDIC-insured, up to $250,000 per depositor, per ownership category. That includes checking accounts, savings accounts, money market deposit accounts, certificates of deposit (CDs).
Is TD Bank safe? Yes, TD Bank is FDIC-insured up to the amount allowed by law: $250,000 per depositor, per account. Yes, TD Bank is FDIC-insured up to the amount allowed by law: $250,000 per depositor, per account.
Is my money safe with TD? TD is dedicated to stability and security, with a longstanding focus on strong risk management and controls and a diverse portfolio mix including total deposits of $361 billion and a loan-to-deposit ratio of 48% as of 12/31/22.
Bottom Line. TD Bank provides great customer service and rewards its loyal customers with rare perks. For example, you can get discounts on loans if you open multiple accounts. It also offers a good variety of products and services, including savings accounts that give you direct access to your cash when you need it.
The bank is fairly "fee heavy." You can't waive the fee by signing up for direct deposit. Checking and savings accounts require a minimum average balance or you'll pay a monthly fee. In exchange for their unique fee structure, TD tends to offer higher than average interest rates on their checking and savings accounts.
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.
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.
Based on the latest financial disclosure, Toronto Dominion Bank has a Probability Of Bankruptcy of 1.0%. This is 98.0% lower than that of the Banks sector and significantly higher than that of the Financials industry. The probability of bankruptcy for all United States stocks is 97.49% higher than that of the company.
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.
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.
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.
Balance Sheet Health
Toronto-Dominion Bank has total assets of CA$1,957.0B and total equity of CA$112.1B. Total deposits are CA$1,260.9B, and total loans are CA$896.4B. It earns a Net Interest Margin of 1.7%. It has sufficient allowance for bad loans, which are currently at 0.4% of total loans.
The Canada-based TD Bank Group then became majority owner in 2004 and renamed it "TD Banknorth, N.A." by adding the Canadian bank's popular "TD" initials.
| Ranking | Bank | LEARN MORE |
|---|---|---|
| 7 | Goldman Sachs Bank | Learn More |
| 6 | Truist Bank | Learn More |
| 9 | Capital One | Learn More |
| 10 | TD Bank | Learn More |
- Alliant Credit Union.
- Ally Bank.
- Axos Bank.
- Bank of America.
- Bank5Connect.
- Barclays.
- Bethpage Federal Credit Union.
- Bread Financial.
The largest Canadian banks are known as the "Big Five," with the Royal Bank of Canada (RBC) being the largest. The top three are rounded out by Toronto-Dominion (TD) and the Bank of Nova Scotia (Scotiabank) in second and third, respectively.
BMO Bank of Montreal has an edge over TD when it comes to savings accounts. TD's high interest savings accounts require a minimum balance of $5,000 to $10,000 before they bear interest. BMO has better interest rates and no minimum balance.
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.
- Special offer: New checking customers can earn a special offer.
- Monthly fee: $15 or $0. ...
- Free Mobile Banking with TD Bank Mobile Deposit2
- Student perks: No monthly maintenance fee if you're ages 17–233
Is it good to bank with Capital One?
Yes. Its fraud protections, lack of fees, and easy mobile access make it a smart choice for new banking customers. Capital One also offers a savings account for kids that parents can control. It earns a 0.30% APY* and is accessible via mobile app.
| Bank | The Ascent's Rating |
|---|---|
| Western Alliance Bank | 4.25 |
| SoFi | 4.00 |
| Wells Fargo | 4.00 |
| Axos Bank | 3.50 |
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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.
TORONTO, April 5 (Reuters) - Hedge fund bets against Canada's TD Bank Group (TD.TO) , opens new tab on Wednesday hit $4.2 billion, making it the most-shorted banking stock globally, according to data provider ORTEX's calculations, with some analysts concerned about the bank's exposure to U.S. regional lenders.
