Is TD Bank safe 2023?
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 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.
Lauren Smith, WalletHub Staff Writer. Yes, a TD Bank account is FDIC-insured up to $250,000 per customer, per account ownership category. This means that even if TD Bank fails, you will eventually be able to recover an individual account's balance up to $250,000.
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.
Based on the latest financial disclosure, Toronto Dominion Bank has a Probability Of Bankruptcy of 2.0%. This is 95.99% 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 94.98% higher than that of the company.
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.
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.
| Monthly Maintenance Fee | $15 |
|---|---|
| No Monthly Maintenance Fee When You | 1) Maintain a $100 minimum daily balance OR 2) If the Primary account holder is age 17 through 232 |
| Earns Interest | No |
| ATM Fees | None at TD ATMs |
| Checks | Discount on first order of select styles |
| Bank | The Ascent's Rating |
|---|---|
| Western Alliance Bank | 4.25 |
| SoFi | 4.00 |
| Wells Fargo | 4.00 |
| Axos Bank | 3.50 |
Not all banking institutions are insured by the FDIC. Eligible bank accounts are insured up to $250,000 for principal and interest. The FDIC doesn't insure share accounts at credit unions.
Is TD Bank too big to fail?
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.
#10 TD Bank
The TD Group offers the usual savings and checking accounts, mortgage and other loan options, credit cards and investing options.
Toronto-Dominion Bank (French: Banque Toronto-Dominion), doing business as TD Bank Group (French: Groupe Banque TD), is a Canadian multinational banking and financial services corporation headquartered in Toronto, Ontario.
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.
You've reached your daily purchase limit. Your debit card expired or is inactive. The bank finds the purchase suspicious. Your card is suspended.
You'll get your money back (usually). You may receive a check in the mail for the remaining balance, unless the bank suspects terrorism or other illegal activities. You can also go to a branch and receive a cashier's check for the account balance.
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.
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.
As a responsible business enterprise and corporate citizen, TD is committed to conducting its affairs to the highest standards of ethics, integrity, honesty, fairness and professionalism – in every respect, without exception, and at all times.
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.
How much debt is TD Bank in?
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.
| Bank | Assets |
|---|---|
| Bank of America | $2.47 trillion |
| Wells Fargo | $1.70 trillion |
| Citi | $1.66 trillion |
| U.S. Bank | $657 billion |
Based on 10 Wall Street analysts offering 12 month price targets for Toronto Dominion Bank in the last 3 months. The average price target is C$89.99 with a high forecast of C$95.00 and a low forecast of C$86.00. The average price target represents a 11.28% change from the last price of C$80.87.
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 .
TD Bank Group has called off its $13.4-billion US deal to acquire U.S. bank First Horizon Corp., citing regulatory uncertainty around the takeover.
