Around 1 in 3 Canadians bank with TD, which offers a full suite of products and services for spending, saving and investing. But is a TD chequing account right for you? Are are there better options? We break down what you need to know about TD Canada Trust chequing accounts, including fees, features and alternative accounts that are worth considering instead.
With a low monthly fee of $3.95 (waived for seniors 60+ collecting Guaranteed Income Supplement or RDSP beneficiaries), the TD Minimum Chequing Account is a worthwhile choice for people who make 12 or less transactions per month and just need a chequing account to hold funds. Each transaction after the monthly limit costs $1.25.
The TD Every Day Chequing Account is your more budget-friendly everyday banking solution. This option is great if you won't make more than 25 free transactions per month and can keep the minimum balance of $3,000 needed to cancel out the monthly fee of $11.95. Each transaction after the monthly limit costs $1.25.
Free to send and request Interac e-Transfers
25 free transactions per month
Reduced monthly fee of $8.20 for seniors
High monthly fee if you don't meet minimum balance requirements
The TD Unlimited Chequing Account is designed for customers who want flexibility with their everyday banking. It includes unlimited transactions, free Interac e-Transfers and no fees at any ATM in Canada. While there's a monthly fee of $17.95, the cost is waived if you maintain a minimum monthly balance of $4,000.
No fees for TD and non-TD ATMs in Canada
First-year fee rebate on select credit cards
Unlimited transactions
Discounted monthly fee of $11.95 for seniors
High monthly fee if you don't meet minimum balance requirements
The TD Student Chequing Account is a fantastic option for people under 23 or full-time post-secondary students who are working towards completing their education. This plan enables them to make unlimited transactions at the right price — $0 per month. Additional perks include $0 overdraft protection (interest applies), 0.01% interest paid on your balance, free paper or online statements and 50% more Stars at participating Starbucks stores.
Enjoy unlimited transactions
The only TD chequing account that offers interest
No monthly overdraft protection fee
Only available for full-time post-secondary students and youth under 23
Sign up for this TD chequing account, and get premium banking benefits including free unlimited transactions and Interac e-Transfers, an annual rebate on select TD credit cards, no fees for using any ATMs in Canada and abroad, a $3 monthly rebate on the TD Borderless Plan monthly fee, free cheques and money orders and a free small safety deposit box. The monthly fee is high at $30.95, but it's waived with a minimum monthly balance of $6,000.
Get unlimited transactions
Get up to $750 when you open a TD All-Inclusive Banking Plan. Terms and conditions apply. Offer ends March 3, 2026.
Get card fee rebates with eligible TD credit cards
Get a rebate of $3 USD on TD's Borderless Plan
Free worldwide ATM withdrawals
You'll have to pay a high monthly fee of $30.95 if you don't maintain a monthly balance of $6,000
Although TD will not charge ATM fees with this account, the ATM might
The TD All-Inclusive Banking Plan stands out as our top pick for the best TD chequing account. It’s perfect for customers who want premium features, flexibility and the security of banking with a Big Five institution. The account comes with unlimited debit transactions and free Interac e-Transfers, plus:
No monthly fee if you maintain a minimum daily balance of $6,000
No TD fees for using any ATM in Canada or abroad
Annual credit card fee rebate on six select TD credit cards
Free small safety deposit box
Earn 50% more Stars at participating Starbucks stores
Rebate of $3 USD on the Borderless Plan monthly fee
Free certified cheques, money orders and personalized cheques
Monthly fee discounted to $22.45 for seniors
Summary of TD Chequing account promotional offers
TD Unlimited Chequing Account: Get up to $750 when you open a TD Unlimited Chequing Account. Terms and conditions apply. Offer ends March 3, 2026.
TD All-Inclusive Banking Plan: Get up to $750 when you open a TD All-Inclusive Banking Plan. Terms and conditions apply. Offer ends March 3, 2026.
TD Student Chequing Account: Earn up to $560 in value with the TD Student Banking Package. Valid until May 4, 2026.
TD chequing account fees
The TD chequing account fees you’ll pay monthly depend on what your account comes with and how you manage funds (number and type of transactions, transfers, ATM withdrawals etc.) Besides the fees listed above, here are some other TD bank account fees you should be aware of:
Monthly paper statement: $2.00 per month (free with the TD All-Inclusive Banking Plan, TD Minimum Chequing Account and TD Student Chequing Account)
Withdrawals from non-TD ATMs: $2 in Canada, $3 in the US or Mexico, $5 in other countries. Free non-TD ATM usage in Canada with the TD Unlimited Chequing Account. Free non-TD ATM usage globally with the TD All-Inclusive Banking Plan.
Cheque viewing: $2.00 per month (free with the TD All-Inclusive Banking Plan)
Overdraft protection: $5 per month or $5 per overdraft transaction (max $5 per day). 21% annual interest applies for both options (free with the TD Student Chequing Account).
Bank drafts: $9.95 (free with the TD All-Inclusive Banking Plan)
NSF fee: $48
Does TD Bank offer a no-fee chequing account in Canada?
TD Bank does not offer a standard no-fee chequing account unless you are a student under 23 years old. Otherwise, all of TD Bank’s chequing accounts come with a standard monthly fee ranging from $3.95 up to $30.95.
That said, it’s possible to waive the monthly fee on most TD chequing accounts by keeping a minimum balance in your account—usually a few thousand dollars—at all times.
TD Canada Trust chequing accounts come with the following perks and features:
Waivable monthly fees. Most TD chequing accounts that come with a monthly fee also give you the option of maintaining a minimum balance to waive the fee.
Earn Starbucks rewards faster. Link your eligible TD card to your Starbucks Rewards account to begin earning 50% more Stars.
TD EasyWeb and mobile app. All TD chequing account holders can view account balances, transfer funds, deposit cheques, pay bills, open other accounts and more through TD EasyWeb online banking or the TD Canada mobile app.
Easy cross-border banking. If you regularly deal in US dollars, the TD U.S. Daily Interest Chequing Account and TD Borderless Plan make it easy to transfer funds between CAD and USD accounts.
TD Online and Mobile Security Guarantee. TD Canada Trust will fully reimburse any losses due to unauthorized account activity as long as you’ve met your security responsibilities (use up-to-date browsers and security software, don’t transmit personal info while using public WiFi etc.).
TD Fraud Alerts. All TD customers who have provided a current phone number will receive immediate notifications of any suspicious transactions taking place in their accounts.
TD chequing accounts also have some disadvantages, including:
Monthly fees. Most TD accounts have monthly fees that can add up over time. While you can maintain a minimum balance to waive the fees for some accounts, the required balance is quite high, starting at $3,000.
Limited interest earnings. The only chequing account that offers interest is the TD Student Chequing Account, and even then, it’s only at a rate of 0.01%.
Additional fees. Depending on the account you choose, you may also have to pay additional fees for things like nonsufficient funds, overdrafts or paper statements.
Requirements to open a TD Chequing account
Eligibility requirements for opening a TD bank account generally include:
Age. You should be at least the age of majority (18 or 19) in your province or territory.
Student proof. If you’re trying to open a TD Student Chequing Account, you’ll need to provide proof that you’re a full-time post-secondary student.
Proper identification. You’ll also need government-issued identification, like a passport or driver’s licence, and a Social Insurance Number (SIN) to open an account with TD.
How to open a TD chequing account
You can open a TD chequing account online or in-branch. If you want to open a TD account online, follow these steps:
Head to TD’s website and compare your chequing account options.
When you pick one, click Open account.
Complete the application form with details like your full name, date of birth, address and phone number.
Upload copies of your government-issued ID and any other necessary documents, like proof of enrollment if you’re opening a student account.
Select any additional account features, such as overdraft protection and e-statements or paper statements.
Review TD’s terms and conditions and click Submit
You’ll receive a confirmation email, which you can use to set up your online banking on TD EasyWeb.
Alternatives to opening a chequing account with TD
If you want to steer clear of TD’s monthly fees or steep minimum balance requirements, a digital bank may be a better option for you. Online banks don’t have the same overhead costs as traditional banks, so they can offer chequing accounts with no monthly fees, unlimited debit transactions and even interest.
For those comfortable managing their finances entirely online, a digital chequing account can offer a simpler, more cost-effective way to handle day-to-day banking compared to a traditional TD account.
The EQ Bank Personal Account is a hybrid savings and chequing account that offers unlimited transactions, free Interac e-Transfers and a competitive interest rate. Unlike TD accounts, there are no monthly fees or minimum balance requirements, and all banking is done online, so you won't have access to in-branch services.
$0 account fee
Get unlimited transactions
$0 Interac eTransfers
Earn up to 2.75% interest on your balance
EQ Bank will refund withdrawal fees for using any ATM across Canada
No minimum balance requirement
No physical branches for in-person service
Some standard banking features not available such as overdraft protection and the option to have paper statements
The BMO Performance Chequing Account is very similar to the TD Unlimited Chequing Account, with unlimited transactions and a monthly fee of $17.95 that can be waived if you keep a $4,000 minimum balance to waive monthly fee. It even comes with a rebate on a credit card, but it's limited to up to $40 annually, compared to TD's offer of up to $139 in the first year.
Unlimited monthly transactions
Interac e-Transfers
$40 fee rebate on the BMO Mastercard annual fee
BMO will reverse the first accidental fee charged to this account
Up to 20 accounts can be included in the BMO Family Bundle
Get up to $700*.
Earn $500 when you open a new BMO Performance Chequing Account, make a deposit of any amount by March 2, 2026 and complete two qualifying tasks by April 30, 2026.
Plus, get a Walmart Delivery Pass subscription for up to 12 months* when you open a new Savings Amplifier Account by March 2, 2026, and sign up for or update your existing Walmart Delivery Pass by April 30, 2026 by selecting Debit Mastercard as the payment option for the monthly transaction fee.
Earn $150* when you deposit a total of $10,000 or more in to your Savings Amplifier Account and maintain a daily closing balance of $10,000 or more at all times for the specified period.
Earn $50* when you create one goal and apply one strategy in My Financial Progress Plan by April 30, 2026.
*Terms apply.
Monthly fee of $17.95
You won't earn any interest on the money in your account.
The Coast Capital Elevate Chequing Account comes with unlimited transactions, free Interac e-Transfers and access to Coursera's global learning platform. The monthly fee is quite high, though, and can only be reduced to $8.50 if you're under 25, over 59 or maintain a minimum daily balance of $4,000. You can also get a $5 discount off your monthly fee by setting up an eligible direct deposit, but unlike TD, the account fee can never be fully waived.
No monthly fee
Unlimited free transactions
No minimum balance required
Deposit cheques on the app from your phone
Withdraw money free of charge from 4,000+ ATMs across Canada
Free access to Coursera's global learning platform
You'll have to pay $16.95 per month for this account
The Tangerine No-Fee Daily Chequing Account comes with unlimited free transactions and Interac e-Transfers, so it's similar to the Scotiabank Ultimate Package but with no monthly fee, no matter your balance. Plus, you can earn up to 0.1% interest on every dollar. While a low interest rate, at least you'll be able to earn some interest on your balance, which is not the case with any Scotiabank chequing account.
The Simplii Financial No-Fee Chequing Account offers unlimited transactions and free Interac e-Transfers, much like TD's Unlimited Chequing Account. The major differences are that this account has no monthly fees at all, it includes free access to CIBC ATMs nationwide and is online only.
Earn a welcome bonus of up to $300
Enjoy unlimited free transactions and e-Transfers
No monthly account fee
Earn 0.01% interest on your balance
No minimum deposit requirements
Earn a referral bonus
Simplii is an online only provider
You can only earn the welcome bonus if you're a new Simplii customer
TD Canada Trust offers a range of chequing accounts to suit different needs, from low-fee options for occasional users to premium plans with unlimited transactions. While TD accounts provide convenient branch access, reliable security and rewards like 50% more Starbucks Stars, fees can be high, and most accounts don’t earn interest.
So, if you want to avoid monthly fees or earn interest on your chequing balance, consider digital banks like EQ Bank, Simplii or Tangerine instead.
Frequently asked questions about TD chequing accounts
To access online banking through TD EasyWeb, go to www.td.com/ca and select Login at the top, right of the page. Select EasyWeb from the dropdown menu. Login with your username and password to see your account balance(s), view your transaction history, transfer funds, pay bills and more.
You can find your TD direct deposit form by following these steps:
Login to TD EasyWeb online banking.
In the left side menu, select Accounts.
Select the appropriate account.
On the right side above your transaction history, select the link that says Direct deposit form (PDF)
A PDF page will pop up with your direct deposit account information. Print or save this page for your records.
No, the TD Plan 60 account is no longer offered. However, seniors aged 60+ years old and RDSP beneficiaries get the monthly fee waived on the TD Minimum Chequing Account, which comes with 12 free transactions per month.
No, the TD Preferred Chequing Account is no longer offered. However, you can get 12 free transactions per month for $3.95 with the TD Minimum Chequing Account. If you spend and move money more frequently, the TD Every Day Chequing Account comes with 25 free transactions per month for $11.95 per month and free Interac e-Transfers.
TD no longer provides passbooks, so there is no passbook fee. Instead, you can view your transaction history and account balances online or via mobile app. You can also receive paper statements and/or view cheque images, although these options come with extra fees (may be waivable with some accounts).
Stacie Hurst is an editor at Finder, specializing in loans, banking, investing and money transfers. She has a Bachelor of Arts in Psychology and Writing, and she has completed FP Canada Institute's Financial Management Course. Before working in the publishing industry, Stacie completed one year of law school in the United States. When not working, she can usually be found watching K-dramas or playing games with her friends and family.
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Rebecca Low is a writer for Finder. She has contributed to a range of digital publications, including income.ca, Indeed, and Expatden, writing on topics like personal finance, career development, and travel.
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Get unlimited free transactions and a number of premium benefits with this high-end chequing account.
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