TD Bank has more than 1,300 locations that offers low minimum balance requirements as well as extending banking hours with a 24/7 customer service by phone. They offer different types of banking services depending on your needs – from personal checking to investment options like CDs.
Continue reading our guide to help you on finding the right account for you, which important documents needed to open one, and how to apply in person or online!
Table of Contents
- 1 How to Open an TD Account
- 2 TD Bank Checking Accounts Fees & Features
- 3 TD Bank Savings Accounts Fees & Features
- 4 How to Avoid Unwanted Fees
- 5 Monitoring and Protecting Your TD Bank Account
- 6 TD Bank Promotions
- 7 Bottom Line
How to Open an TD Account
TD Bank offers different accounts, so the TD account you want to open will depend on your current banking needs.
1. Gather the Necessary Information
TD Bank will need the following documents and information from you in order to meet their account opening requirements.
- Your name
- Legal address
- Date of birth
- Social Security or tax identification number
- Initial deposit
They will also ask for your driver’s license or other identifying documents, such as your passport or military ID. If you give your mobile number to TD Bank, you must agree to accept calls related to the servicing of your account.
2. Choose the Type of TD Account You Want
When you open a bank account for the first time, you can choose to open a checking account or a savings account. TD Bank offers several different checking and savings accounts:
TD Bank has different checking account options that all offers exclusive benefits:
- TD Beyond Checking: This account is for big spenders and those who have a large sum of money and want to earn interest on it. It’s loaded with perks; currently offering new checking account customers a $300 bonus.
- TD Convenience Checking: Low minimum daily balance requirement; no monthly maintenance fee with a $100 minimum daily balance; perks for students ages 17-23
- TD Simple Checking: No minimum balance; low monthly maintenance fee. If you aren’t someone who work a lot or spend enough to earn interest, then this regular checking account might work for you.
- Student Checking: For students ages 17- 23; no minimum balance or monthly fees
- TD 60 Plus Checking: For people 60 or older; earn interest and pay no monthly maintenance fee with a $250 minimum daily balance
TD Bank has a variety of options for their savings and money market accounts that offer competitive rates.
- TD Simple Savings: This account is for those who want a simple way to save their money rather than deal with fluctuating interest rates. It offers a low monthly fee that can be waived for the first 12 months
- TD Growth Money Market: Write checks and earn tiered interest; get a rate increase when you set up a $50 monthly recurring transfer
- TD Preferred Savings: With this account, you can essentially earn higher interest rates with the more money you deposit into your savings. Not only that get rewards on your higher balance with tiered interest rates; get a rate bump when you link an eligible TD account.
If you have to meet the required minimum deposit for both a checking and savings accounts, you should look into it because it can be beneficial for your everyday needs.
3. Fill out the Online Application or Apply in Person
If you decide to open a TD Bank account online, the process is really quick and easy, but make sure that you carefully fill out the online application once you’ve decided which account you need.
TD Bank will ask if you are a resident of Canada or the U.S. You’ll also be required to supply your personal details, including:
- Full name
- Contact information, including phone number and email address
- Proof of identification
Even more, you can also go to a branch to fill out the application instead of doing it online. You can use the TD branch locator to help you locate the nearest branch near you. If you need assistance from a representative, you can reach TD Bank’s live customer service, 24/7, at 888-751-9000.
TD Bank Checking Accounts Fees & Features
The table below lists all the different minimums, fees and benefits for each TD Bank checking account, so you can decide which is right for you.
|TD Bank Checking Accounts at a Glance|
|Fees and Features||TD Beyond Checking||TD Convenience Checking||TD Simple Checking||Student Checking||TD 60 Plus Checking|
|Monthly service fee||$25 (may qualify to waive fee)||$15 (may qualify to waive fee)||$5.99||$15 (waived for students ages 17-23)||$10 (waived if a $250 minimum daily balance is maintained)|
|Minimum deposit to open account||$0||$0||$0||$0||$0|
|ATM fees||$0||$0 at all TD Bank ATMs; $3 at non-TD ATMs||$0 at all TD Bank ATMs; $3 at non-TD ATMs||$0 at all TD Bank ATMs; $3 at non-TD ATMs||$0 at all TD Bank ATMs; $3 at non-TD ATMs|
|Benefits||Earns interest||$150 bonus offer available for new checking accounts||Discount on first order of checks||$150 bonus offer available for new checking accounts||Earns interest|
TD Bank Savings Accounts Fees & Features
TD Bank offers several savings accounts to choose from. Each account lets you earn interest on your money, but each account also comes with fees, including a monthly service charge, which can be waived by meeting certain requirements.
|TD Bank Savings Accounts at a Glance|
|Fees and Features||TD Simple Savings||TD Growth Money Market||TD Preferred Savings|
|Monthly service fee||$5 ($4 with online statements only); fee may be waived||$12 ($11 with online statements only); fee may be waived||$15 ($14 with online statements only); fee may be waived|
|Minimum deposit to open account||$0||$0||$0|
|ATM fees||$0 at all TD Bank ATMs; $3 at non-TD ATMs||$0 at all TD Bank ATMs; $3 at non-TD ATMs||$0|
|Annual percentage yield||0.05%||0.35%||1.50%|
How to Avoid Unwanted Fees
Most banks require customers to maintain an average daily balance to avoid monthly fees. Not only that, minimum balances vary by the account you choose, so it’s important to understand the requirements to avoid fees on your account.
When you use an ATM outside your bank’s network, transaction fees can add up. TD Bank will waive your out-of-network ATM fees if you have a TD Beyond checking account, not only that they will reimburse surcharges if you maintain a minimum daily balance of $2,500.
However, if you happen to have an account that doesn’t include ATM fee waivers or reimbursements, stick to TD Bank ATMs to save money on fees
To make sure you don’t drop below these minimums, you can set up to receive free balance alerts via email or the TD Bank mobile app for both Android or iOS devices.
Make sure you keep your account balance in check to avoid overdrafts. Not only that, you can keep track of outstanding checks and scheduled bill payments that will lessen your balance.
By using TD Bank’s online bill pay services, you can automatically schedule recurring monthly payments to avoid having multiple bills hit at the same time.
Monitoring and Protecting Your TD Bank Account
You can monitor your TD Bank account and protect it against fraud, so you can avoid risk, including possible loss.
- Sign up for identity theft protection
- Monitor your mail if you receive paper statements; notify your bank if statements don’t show up in your mailbox
- Review all bank statements
- Check credit reports at least annually
- Shred bank documents
- Secure your computer; avoid using public Wi-Fi
- Secure your Social Security number, passwords and PIN numbers
Contact TD customer service at 888-751-9000 if you:
- Receive a fraudulent email concerning your bank account
- Disclosed confidential information about your account to the wrong party
- Have questions about online security for any of your TD Bank accounts
TD Bank Promotions
• Open a TD Beyond Checking account online and earn $300 when you receive direct deposits of $2,500 or more within 60 days of opening your account.
• With the TD Beyond Checking with Payback Plus, you'll earn interest and get reimbursed for fees like ATM transactions, overdrafts, Rush Bill Pay and outgoing wires – on top of all the perks you'd expect from everyday checking.
• Pay no monthly maintenance fee with monthly direct deposits of $5,000 or more, a minimum daily balance of $2,500, or a combined balance of $25,000 across your eligible TD accounts.
• TD Beyond Checking Review
With the TD Convenience CheckingSM Account:
• Earn $150 when you receive direct deposits totaling $500 or more within 60 days
• Low minimum daily balance of $100 waives the $15 monthly fee.
• Students and young adults ages 17 through 23 get additional perks like no minimum balance requirements and no monthly maintenance fee.
• Instantly replace a lost or worn debit card by visiting a TD Bank location near you
• Access accounts via Online Banking with Bill Pay, Online Statements and TD Bank Mobile Deposit, with 24/7 cash access at TD ATMs in the U.S. and Canada – plus 24/7 Live Customer Service
• Get a 0.25% discount on TD Bank Home Equity and Personal Loans
If you are someone who values great service and convenience when banking then TD Bank might be the right fit for you! You can get the most out of your accounts by finding information on all of TD’s banking services at its website.