TD Bank Beyond Checking Review: Rare Perks for Loyal Customers

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 reimbursements, 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.

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 reimbursements 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 Checking^SM 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

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

If the TD Bank Beyond Checking account doesn't appeal to you, try one of these alternatives.

The Axos Bank Rewards Checking account offers a high APY, no monthly maintenance fees, and unlimited domestic ATM fee reimbursements. This could appeal to customers who don't want to worry about maintaining a minimum balance. However, unlike TD Bank, Axos Bank doesn't offer relationship benefits to customers who open multiple accounts.

The TIAA Bank Yield Pledge® Checking offers similar perks to the TD Bank Beyond Checking account, including an APY that’s guaranteed to be in the top 5% of competitive accounts, and ATM fee reimbursements. It also offers some rare debit card protections. But it too is missing the relationship benefits TD Bank offers. Plus, TD Bank is a better fit if you want to manage all your money in one place.

Learn more: What is APY?

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.