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TD Youth Account review

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Earn interest on your savings and get unlimited free transactions with the fee-free TD Youth Account. 


Interest Rate


Minimum Balance


Minimum Balance$0
Account Feee-Transfers are $0.50 each
Please note: All information about TD Youth Account has been collected independently by Finder and this product is not available through this site.

The TD Youth Account is a hybrid chequing/savings account that comes with no monthly fees and gives young people access to a number of exclusive banking perks. As long as you’re under the age of 19, you can take advantage of free unlimited transfers and a decent interest rate on your savings. Learn more about how you can benefit from a TD Youth Account and sign up today to get started.

30-second take

  • Think about this account if you’re 18 years old or younger and want to earn interest and make unlimited free transactions for no monthly fee.
  • Choose something else if you’re over the age of 18, and you’d rather not pay a fee for making non-TD ATM withdrawals or Interac e-Transfers.

Expert review

The TD Youth Account is designed to teach young people how to manage their own banking without the added cost of monthly fees. It gives youth under the age of 19 a small return on interest for their savings, along with unlimited monthly transactions. Just be aware that this account will charge a small fee for Interac e-Transfers and ATM withdrawals.

What are the benefits of the TD Youth Account?

The TD Youth Account comes with a number of benefits, which include the following:

  • No monthly fees. You won’t pay monthly fees for this account, though you’ll have to pay for certain transactions (such as non-TD ATM withdrawals and Interac e-Transfers).
  • Hybrid chequing/savings account. This account comes with the benefits of both a chequing and savings account, so you won’t need to open separate accounts.
  • Earn interest on every dollar. You’ll start earning 0.01% interest on any money you hold in your account as soon as you sign up.
  • Unlimited transactions. You won’t pay anything extra to transfer money, make debit purchases or pay bills online with this service.
  • Automated savings. Your parents or guardians can set up transfers from their account into your TD Youth Account for no extra cost.
  • Easy mobile banking. TD offers a comprehensive mobile banking app to help you manage your savings on the go.

What should I look out for?

While the TD Youth Account offers a number of benefits, it also comes with a couple of drawbacks:

  • No online application. You’ll need to either call TD’s customer service desk or book an appointment at a branch to sign up for this account.
  • Only available to youth. You can only take advantage of this no-fee account if you’re under the age of 19.
  • Low interest rates. This account only offers an interest rate of 0.01%, which is low compared to other savings accounts.
  • ATM fees. You’ll have to pay an additional charge of $2 to withdraw money at non-TD ATMs (or $3 from US/Mexico ATMs and $5 from international ATMs).
  • Interac e-Transfers cost money. You’ll have to pay an extra fee to make Interac e-Transfers to friends and family.
  • Very few additional benefits. You won’t get a ton of extra benefits with this account, such as free cheques or credit card rebates.

Compare TD with other savings accounts

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How do I open a TD Youth Account?

You can follow these steps to sign up for a TD Youth Account:

  1. Visit TD’s main website and hover over the “Products” tab at the top of the page.
  2. Select “Bank accounts” from the dropdown list and then select “Youth accounts” from the page that comes up.
  3. This should take you directly to the page for the TD Youth Account.
  4. From there, you’ll need to book an appointment or call TD’s service centre to sign up for an account.

Eligibility requirements

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

  • Be a Canadian citizen or resident under the age of 19
  • 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 deposit or withdraw money with this account as you would with any other bank account. For withdrawals, you can access cash by going to an ATM or by spending money on your debit card. You can also pay your bills from your bank account or send money to your other TD bank accounts for free.

If you want to put money into your account, you can deposit cash or cheques at a TD branch or ATM. You can also get your parents to set up an automatic deposit into your account to save up extra money such as your allowance or funds you get on special occasions. It’s also possible to transfer money in from another bank account that’s held in your name.

How can I get in touch with customer service?

  • By phone. Call the TD customer service desk to discuss your account over the phone.
  • In person. Visit a TD branch in person to discuss any questions or concerns you may have before signing up for a TD Youth Account.
  • By mail. Mail your inquiry to TD by post if it’s not urgent and you don’t mind a slow reply.
  • By email. Send a secure message through your online banking or email TD’s customer support inbox.

Frequently asked questions about the TD Youth Account

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