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TD Student Chequing Account Review

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TD Student Chequing Account
Bonus Offer
Earn $225
Monthly Account Fee
$0
Free Transactions
unlimited
e-Transfer Fee
Unlimited
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Our verdict

Get unlimited transactions and pay no monthly fees for this student chequing account with TD.

The TD Student Chequing Account offers Unlimited debit transactions and comes with free Interac e-Transfers up to that limit. You won't pay a monthly fee to access this account and you'll be able to take advantage of TD's mobile app and a number of budgeting tools. Find out more about whether this account might be a good fit for you and learn about what alternatives are available if you're looking for something else.

Pros

  • Unlimited debit transactions. You can carry out Unlimited transactions, including debit purchases, bill payments and ATM withdrawals.
  • No fees for Interac e-Transfers. You won't pay additional fees to carry out Interac e-Transfers unless you surpass your allowable number of free withdrawals each month.
  • Free TD ATM withdrawals. You won't have to pay a fee to withdraw cash at any ATM on the TD network (but you will pay for non-TD ATM withdrawals).
  • Overdraft protection. Avoid paying extra fees if you dip into a negative balance with free overdraft protection.
  • Budgeting tools. Use TD MySpend to keep track of your monthly spending and get help to improve your spending habits.
  • Mobile app. Manage your transactions and personal information on the go when you sign up for the TD mobile app.

Cons

  • No interest on savings. You won't earn interest on the money you hold in your account.
  • Limited free services. You'll have to pay additional fees for TD products such as bank drafts, cross-border debits or personalized cheques.
  • Only available to students. You won't be able to qualify for this account unless you can prove that you're a student registered at an eligible institution.
  • Fees for non-TD ATM withdrawals. It will cost you an extra fee to take money out at non-TD ATMs both domestically and internationally.

In this guide

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The TD Student Chequing Account is a fee-free student account that comes with Unlimited debit transactions. It also offers unlimited free Interac e-Transfers up to your monthly limit, along with free overdraft protection.

30-second take

  • Think about this account if you're registered in a Canadian post-secondary institution and you'd prefer not to pay a monthly fee.
  • Choose something else if you would prefer to earn interest on any balance you hold in your account.

TD Student Chequing Account‘s ATM network and fees

You won’t be required to pay any monthly fees for the TD Student Chequing Account. You’ll also get Unlimited debit transactions and free Interac e-Transfers on this account.

You won’t have to pay for ATM withdrawals if you take money out on the TD ATM network. However, you’ll pay $2 for every withdrawal you make on a non-TD ATM in Canada (and between $3 and $5 to withdraw funds internationally, depending on your location).

What other chequing options does TD offer?

TD has a number of other chequing accounts that could be useful for students, though most come with a monthly fee. These include the following:

  • TD Minimum Chequing Account. This is a very simple account that comes with a low monthly fee of $3.95. In return, you’ll get 12 free transactions per month along with some basic banking benefits. You can also get this account for free as long as you can prove that you’re a student.
  • The TD Every Day Chequing Account. This account is very similar to the TD Student Chequing Account, except it comes with a monthly fee of $10.95. It offers 25 free transactions per month, including Interac e-Transfers. This account could be a good fit for you if you’ve recently graduated or are no longer a student.
  • TD Unlimited Chequing Account. The TD Unlimited Chequing Account offers unlimited free transactions, free Interac e-Transfers, a generous welcome bonus and free ATM withdrawals in Canada. This plan costs $16.95 per month to maintain but this fee can be waived if you keep a minimum balance of $4,000.

Compare with other chequing accounts

1 - 5 of 16
Name Product Monthly Account Fee Free Transactions e-Transfer Fee Bonus Offer Offer
BMO Performance Chequing Account
BMO Performance Chequing Account
$16.95 (can be waived)
unlimited
$0
Earn $600
Get up to a $600 cash bonus. Valid until July 2, 2024. Plus, earn a 5.50% promo interest rate when you open a Performance Chequing and a Savings Amplifier Account.
Simplii No Fee Chequing Account
Simplii No Fee Chequing Account
$0
unlimited
$0
Earn $400
Earn $400 when you become a new client and set up a direct deposit of at least $100 for 3 months. Offer ends October 31, 2024.
Scotiabank Preferred Package
Scotiabank Preferred Package
$16.95 (can be waived)
unlimited
$0
Earn $400
Earn a welcome bonus of up to $400. Valid until July 31, 2024. Plus, earn up to 6.05% interest for 3 months on your MomentumPLUS Savings Account.
RBC Signature No Limit Banking Account
RBC Signature No Limit Banking Account
$16.95 (can be waived)
unlimited
$0
Get Apple Watch Series 9
Get the new Apple Watch Series 9 when you switch to RBC & open an RBC Signature No Limit Banking Account. Valid until June 3, 2024.
Coast Capital Free Chequing, Free Debit, and More Account
Coast Capital Free Chequing, Free Debit, and More Account
$0
unlimited
$1.50
Get $150
Get $150 when you become a new member and open a Free Chequing, Free Debit and More Account. Valid until June 30, 2024.
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How do I open a TD Student Chequing Account

Eligibility requirements

To apply for a TD Student Chequing Account, you need to meet the following criteria:

  • Be a Canadian citizen or permanent resident who is at least 18 years old (19 in some provinces)
  • Be a full-time student at a registered post-secondary institution in Canada
  • Be opening a sole account in your name

Required documents and information

  • Your name, residential status and contact information
  • Your Social Insurance Number (optional) and date of birth
  • Your email address and phone number

How do I deposit or withdraw my money?

You can easily deposit or take money out of your account by going into a branch or by using a TD ATM. You can also send money in and out of your bank account by logging into TD’s mobile or online app to send an Interac e-Transfer or a bank-to-bank transfer.

It’s also easy to use your bank account to pay bills by pre-authorized debit or to register for automatic deposits to build up your savings. Many customers also use their debit cards in-store to make purchases, though this will cut into your monthly transaction limit.

Frequently asked questions about the TD Student Chequing Account

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