TD Every Day Chequing Account Review
Get 25 free transactions for a reasonable monthly fee with this mid-level chequing account.
You can carry out 25 debits per month at no additional cost – this includes debit purchases, bill payments, Interac e-transfers and ATM withdrawals.
Minimum Deposit To Open Account
25 free transactions per month
The TD Every Day Chequing Account is a basic chequing account that offers 25 free transactions per month, including Interac e-Transfers. Once you surpass your monthly transaction limit, you’ll pay $1.25 for every additional debit. Your monthly fee for this account will be $10.95, but you may be able to get this fee waived for every month that you hold $3,000 or more in your account.
- Think about this account if you carry out less than 25 transactions per month using your chequing account and you don’t mind paying a monthly fee.
- Choose something else if you’d prefer to earn interest on your account balance or you’d rather get a wide array of exclusive banking benefits.
What are the benefits of the TD Every Day Chequing Account?
The TD Every Day Chequing Account offers a reasonable number of benefits for a mid-range account. These include the following:
- Monthly fee can be waived. You can hold this account for free for every month that you hold $3,000 or more in your account at the end of each business day.
- 25 free transactions. You can carry out 25 debits per month at no additional cost – this includes debit purchases, bill payments, Interac e-transfers 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.
- Mobile app. You can easily download the TD EasyWeb app to manage your account and transactions on the go.
- Special discounts. You may qualify to get a portion of your monthly fees waived if you’re over the age of 60.
What should I look out for?
There are a couple of drawbacks you might want to consider before signing up for an account:
- Monthly fee. You’ll have to pay a monthly fee of $10.95 to keep this account active unless you hold $3,000 or more in your account at all times.
- No interest on savings. You won’t earn interest on the money you hold in your account.
- 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.
- Fee for paper statement. You’ll pay an additional $2 per month to have a paper statement mailed to you.
TD Every Day Chequing Account‘s ATM network and fees
The TD Every Day Chequing Account costs $10.95 per month to maintain. In return, you’ll get 25 free transactions per month, including free ATM withdrawals on the TD network and free Interac e-Transfers. If you surpass your allowable withdrawals each month, you’ll have to pay an extra $1.25 per transaction.
One of the main benefits associated with this account is that you’ll get free TD ATM withdrawals. Just be aware that you’ll have to pay a fee to withdraw funds using a non-TD ATM. These extra fees can stack up quickly, especially if you take money out when traveling overseas. This is why you should visit a TD ATM or branch to withdraw cash whenever possible.
What other chequing options does TD offer?
TD has several chequing accounts to choose from so it should be easy to find a good match based on the exact specifications you’re looking for:
- TD Minimum Chequing Account. This is a bare bones account designed for customers with minimal banking needs. It costs $3.95 per month to maintain and you’ll get 12 free transactions per month. You can also get this account for free if you fit into a certain demographic (such as being a student or a senior).
- 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 on yout account.
- TD All-Inclusive Banking Plan. This account offers unlimited free transactions, a generous welcome bonus, a premium credit card rebate and free ATM withdrawals both domestically and internationally. It costs $29.95 per month to maintain, with a fee waiver if you keep over $5,000 in your account at all times.
Compare with other chequing accounts
How do I open a TD Every Day Chequing Account
To apply for a TD Every Day 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 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 take money out of your account at an ATM or by visiting a branch in person. It’s also possible to transfer money out of your account using an internal TD transfer or by sending money to an external bank account.
To deposit funds, all you need to do is cash a cheque or deposit cash at an ATM or in a branch. You can also set up a direct deposit from your payroll or send a transfer in from a TD account or an external bank account.
The TD Every Day Chequing Account offers 25 free transactions per month and comes with free Interac e-Transfers up to that limit. Other than that, it has limited benefits and comes with a fee of $10.95 per month. This account is best for customers who do a relatively limited amount of banking using their chequing account but still need it for a handful of transactions.