Should I worry about TD Bank? (2024)

Should I worry about TD Bank?

TD Bank is a reputable bank that offers a variety of products and services to its customers. Perks and fees vary by account, so it's essential to evaluate each option to see what best suits your needs.

Is my money safe in TD Bank right now?

FDIC coverage for your TD Bank accounts

All deposits and deposit products are FDIC-insured, up to $250,000 per depositor, per ownership category.

Should I be concerned about TD Bank?

Strong liquidity

One reason why TD Bank is relatively safe compared to other banks is because it has a lot of liquidity. “Liquidity” refers to the ease of turning something into cash; cash and marketable securities are considered liquid assets; personal loans are not. $412 billion in securities that can be sold easily.

Is TD Bank at risk of a bank run?

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.

Is TD Bank good or bad?

Read our TD Bank review, including pros, cons, customer feedback and a breakdown of its deposit accounts, to decide if TD is right for you. Key Takeaways: TD Bank scores 4.1 out of 5.0 stars overall with our review team, thanks in part to its many options for checking and CD accounts.

How financially stable is TD Bank?

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. Fitch has also affirmed the ratings of TD's subsidiaries, TD Bank US Holding Company and TD Bank, N.A.

What are the disadvantages of TD Bank?

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.

What happens when TD Bank closes your account?

Debits will be blocked and deposits won't make it in. 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.

Is TD Bank too big to fail?

In March 2013, the Office of the Superintendent of Financial Institutions announced that Canada's six largest banks, Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada and Toronto-Dominion Bank, were too big to fail.

What banks are considered the safest?

Are any banks at risk of collapse?

Recently, a report posted on the Social Science Research Network found that 186 banks in the United States are at risk of failure or collapse due to rising interest rates and a high proportion of uninsured deposits.

Why did TD Bank go down?

The recent drop

The company reported lower fourth-quarter profit that fell below analyst estimates. TD earned $2.9 billion in the quarter, down 57% compared to 2022 levels. The bank also had $266 million in restructuring charges, after taxes, from jobs cuts and real estate sales.

Is TD or Chase better?

If you enjoy widespread branch accessibility, sign-up bonuses and different account options, Chase may be a suitable choice for you. However, if you don't mind minimal monthly fees and limited branch locations, you should consider TD Bank.

Who owns TD Bank?

Which bank is better than TD?

In terms of customer experience, RBC is hands down the best. Next comes TD and CIBC. Scotia is one of the worst. I have both personal and business banking with Scotia, they simply are the worst.

What is the outlook for TD Bank?

The average price target for Toronto Dominion Bank is C$88.29. This is based on 10 Wall Streets Analysts 12-month price targets, issued in the past 3 months. The highest analyst price target is C$96.00 ,the lowest forecast is C$81.00. The average price target represents 8.64% Increase from the current price of C$81.27.

Why are people shorting TD Bank?

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.

Which bank is the most stable?

Asset-heavy, diversified and regulated banks like JPMorgan Chase, Wells Fargo, PNC Bank and U.S. Bank are among the safest banks in the U.S. and should be considered if you are weighing your options.

Is TD an ethical bank?

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.

Why should I use TD Bank?

You can count on the stability of TD

As one of the 10 largest banks in the U.S., TD Bank offers legendary local service backed by the financial soundness and strength of a multi-billion dollar company with North American reach.

What is TD Bank best known for?

TD Bank, America's Most Convenient Bank, is one of the largest banks in the U.S., providing over 10.0 million customers with a full range of retail, small business and commercial banking products and services at more than 1,100 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and ...

Can a bank close your account and keep your money?

Of course, the bank must return any remaining funds in your account but may hold on to them to cover any negative balance or fees. In some cases, the bank may hold the funds if your account is flagged for suspicious activities, which is increasingly common.

Can TD Bank close my account without notice?

Yes. Generally, banks may close accounts, for any reason and without notice. Some reasons could include inactivity or low usage.

Can a bank deny you access to your money?

A bank account freeze means you can't take or transfer money out of the account. Bank accounts are typically frozen for suspected illegal activity, a creditor seeking payment, or by government request. A frozen account may also be a sign that you've been a victim of identity theft.

What is the strongest bank in the United States?