Compare TD chequing account options

What is the best TD chequing account?

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 $850 when you open a TD Unlimited Chequing Account. T&Cs apply. Offer ends March 3, 2027
• TD All-Inclusive Banking Plan: Get up to $1,000 when you open a TD All-Inclusive Banking Plan. T&Cs apply. Offer ends March 3, 2027.
• TD Student Chequing Account: Earn up to $850 in value with the TD Student Banking Package. Valid until March 3, 2027

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:

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.

If you’re interested in a no-fee chequing account, you’ll have to sign up with a digital bank like Tangerine, EQ Bank or Simplii Financial. Check out more alternatives to TD Bank chequing accounts below.

Advantages of opening a TD chequing account

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.

Disadvantages of opening a TD chequing account

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:

1. Head to TD’s website and compare your chequing account options.
2. When you pick one, click Open account.
3. Complete the application form with details like your full name, date of birth, address and phone number.
4. Upload copies of your government-issued ID and any other necessary documents, like proof of enrollment if you’re opening a student account.
5. Select any additional account features, such as overdraft protection and e-statements or paper statements.
6. Review TD’s terms and conditions and click Submit
7. 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.

9.4 Excellent EQ Bank Personal Account

9.4 Excellent

$0

Unlimited

$0

Earn 3.00% interest on your money with qualifying direct deposits of $2,000/month, and 1.50% otherwise. T&Cs apply.

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Why we like it 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. Pros & cons Pros $0 account fee Get Unlimited transactions $0 Interac eTransfers Earn up to 3% interest on your balance EQ Bank will refund withdrawal fees for using any ATM across Canada No minimum balance requirement Cons No physical branches for in-person service Some standard banking features not available such as overdraft protection and the option to have paper statements

8.7 Great BMO Performance Chequing Account

8.7 Great

$17.95 (can be waived)

Unlimited

$0

$175 Reward Finder Rewards: Join Finder then open a new BMO Performance Chequing Account online through Finder as a first-time customer and keep it open until January 29, 2027 to receive a $175 digital Visa gift card. Ends 30 Nov 2026. T&Cs apply. Earn up to a $1,100 cash bonus. Plus, get a Walmart+ membership for up to 12 months. Valid until March 1, 2027. T&Cs apply.

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Why we like it 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. Pros & cons Pros Unlimited monthly transactions Interac e-Transfers $40 fee rebate on the BMO Mastercard annual fee Up to 20 accounts can be included in the BMO Family Bundle Earn up to $1,100. Earn up to a $1,100 cash bonus with the BMO Performance Chequing Account. Plus, get a Walmart+ membership for up to 12 months. Valid until March 1, 2027. Cons Monthly fee of $17.95 You won't earn any interest on the money in your account

8 Great Coast Capital Elevate Chequing Account

8 Great

$16.95

Unlimited

$0

Earn up to a $600 cash bonus when you open and use a Coast Capital Elevate Chequing Account. T&Cs apply.

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Why we like it 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. Pros & cons Pros 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 Cons You'll have to pay $16.95 per month for this account Monthly fee applies Not available in Quebec

8.5 Great Tangerine No-Fee Daily Chequing Account

8.5 Great

$0

Unlimited

$0

Earn up to $250 when you open a No-Fee Daily Chequing Account and move your pay. Valid until April 30, 2027. T&Cs apply.

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Why we like it 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. Pros & cons Pros Earn up to $250 when you open a No-Fee Daily Chequing Account and move your pay. Valid until April 30, 2027 Unlimited transactions Free Interac e-Transfers Free cheques Mobile cheque deposits Cons Charges for certain ATMs No in-person service Only one free replacement card

8.5 Great Simplii No Fee Chequing Account

8.5 Great

$0

Unlimited

$0

Earn $350 when you become a new client and set up a direct deposit of at least $100 for 4 straight months. Offer ends January 31, 2027. T&Cs apply.

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Why we like it 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. Pros & cons Pros Earn a welcome bonus of up to $350 welcome bonus 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 Cons Simplii is an online only provider You can only earn the welcome bonus if you're a new Simplii customer Residents of Quebec cannot open a Simplii account

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Bottom line

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

• How do I access TD EasyWeb in Canada?

  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.

• How do I get a TD direct deposit form?

  You can find your TD direct deposit form by following these steps:

  1. Login to TD EasyWeb online banking.
  2. In the left side menu, select Accounts.
  3. Select the appropriate account.
  4. On the right side above your transaction history, select the link that says Direct deposit form (PDF)
  5. A PDF page will pop up with your direct deposit account information. Print or save this page for your records.

• Can I open a TD Plan 60 chequing account in Canada?

  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.

• Can I open a TD Preferred Chequing Account?

  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.

• How much is the TD passbook fee?

  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).