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TD Student Chequing Account Review

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Get 25 free transactions and pay no monthly fees for this student chequing account with TD.


Account Fee


Minimum Deposit To Open Account

25 free transactions per month

Monthly Transactions


Minimum Balance$0
Monthly Account Fee$0
Please note: All information about TD Student Chequing Account has been collected independently by Finder and this product is not available through this site.

The TD Student Chequing Account is a fee-free student account that comes with 25 free transactions per month. It also offers unlimited free Interac e-Transfers up to your monthly limit, along with free overdraft protection. Just be aware that you’ll have to pay $1.25 every time that you surpass your allowable number of transactions each month.

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 want to get unlimited transactions or you would prefer to earn interest on any balance you hold in your account.

What are the benefits of the TD Student Chequing Account?

The TD Student Chequing Account offers a reasonable number of benefits for a student account. These include the following:

  • 25 free transactions per month. You can carry out 25 free transactions per month, 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.

What should I look out for?

There are a couple of drawbacks you might want to consider before signing up for this account:

  • Limits on withdrawals. You’ll only be eligible for 25 free transactions per month, after which you’ll have to pay $1.25 for every debit.
  • No welcome bonus. Unlike some other Big Five Banks in Canada, TD doesn’t offer a welcome bonus when you sign up for its student account.
  • 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.

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 25 free transactions per month and free Interac e-Transfers on this account. The only catch is that you’ll be required to pay $1.25 per transaction once you exceed your monthly transaction limit.

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

Name Product Interest Rate Account Fee Debit Transactions Interac e-Transfer Transactions
Scotiabank Ultimate Package
$30.95 per month ($0 if requirements met)
Get up to $650 worth of benefits and savings through annual fee waivers, unlimited debit and Interac e-Transfer transactions, a number of free equity trades and more.
Scotiabank Preferred Package
$15.95 per month ($0 if requirements met)
Get unlimited debit and Interac e-Transfer transactions, a first year annual fee waiver (up to $139) on select credit cards and more perks to take care of your everyday banking needs.
Scotiabank Basic Plus Bank Account
$10.95 per month ($0 if requirements met)
25 free per month
10 free per month
Pay no monthly account fee by maintaining a minimum daily closing balance of $3,000 for the entire month.
Scotiabank Student Banking Advantage Plan
Sign up today and get up to 5,000 SCENE or Scotia Rewards Points. Terms apply. Apply by April 30, 2021.
Scotiabank Basic Bank Account
$3.95 per month
12 free per month
2 free per month
With a low monthly account fee, you can choose between earning points toward the SCENE or Scotia Rewards reward programs.

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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.

Expert review

The TD Student Chequing Account offers 25 free transactions per month 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.

Frequently asked questions about the TD Student Chequing Account

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