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TD Ameritrade Cash Management review

This cash services account offers more perks than many others, but it earns almost no interest.’s rating: 4.7 / 5.0


The TD Ameritrade Cash Management account includes free checks and free ATM withdrawals across the US and Canada. Still, it earns a negligible amount of interest and doesn’t allow overdrafts.

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$0 per month





Fee$0 per month
ATM transaction fee$0
ATM fee rebatesTD Ameritrade will reimburse you for any ATM charges in the US and Canada.
Out-of-network ATM fee$0

Review by

Michael Benninger is a staff banking writer at Finder. He is a former credit analyst and longtime freelancer whose articles have been published by Intuit, Business Insider and the Los Angeles Times. Michael is passionate about all facets of personal finance and has written hundreds of articles about money management during the past decade.

Expert review

TD Ameritrade Cash Management account is best for those who plan to write a lot of checks or want free ATM access across the US and Canada. But if these perks aren’t important to you, other cash management accounts, such as Aspiration Spend & Save Account and Betterment Cash Reserve, offer a higher interest rate with more FDIC insurance.

And if rewards are important to you as well, you can look at digital bank accounts like SoFi Checking and Savings, which earns up to 1.25% APY and up to 15% in cashback rewards.

How do I open a TD Ameritrade Cash Management Services account?

Unlike some other cash management accounts offered by brokerages, you can open a TD Ameritrade account online and you never have to work with an advisor if you don’t want to. But you do have to open a brokerage account to use TD Ameritrade’s Cash Services.

  1. Go to the provider’s site and follow the steps to apply.
  2. Select Open new account.
  3. Select the type of account you want to open, such as Individual, Joint or Retirement.
  4. Enter your name, email address, home address and phone number, then agree to the privacy statement and select Continue to personal information.
  5. Enter your date of birth, respond to the citizenship questions, enter your Social Security number, and select your employment status from the dropdown menu.
  6. Choose how you plan to fund the account, then select Continue to financial information.
  7. Enter details about your annual income, net worth and planned deposit, then answer a couple of questions about your involvement with broker-dealer firms and publicly traded companies.
  8. Choose to keep your uninvested funds in an FDIC-insured deposit account, then select Continue to review information.
  9. Confirm the details are correct, then select Continue to open your account.


To qualify for a TD Ameritrade Cash Management account, you must meet these requirements:

  • At least 18 years old
  • Permanent resident of the US, Canada, Singapore, Malaysia, Thailand, Taiwan, Hong Kong or China

Required information

Have the following information prepared when opening your account.

  • Name
  • Email address
  • Phone number
  • Physical address
  • Contact information
  • Date of birth
  • Social Security number or International Tax Identification Number (ITIN)
  • Employment information
  • Passport, visa number or foreign tax ID if you’re not a US citizen or permanent resident

What are the benefits of TD Ameritrade Cash Management account?

TD Ameritrade’s Cash Services account has several attractive features.

  • No monthly fees. There are no monthly fees associated with this account.
  • Free check-writing. There’s no limit to how many checks you can write with this account and TD Ameritrade won’t charge you for reorders of up to 100 checks.
  • Free bill pay. You can use online bill pay to pay for recurring bills.
  • Reimbursed ATM fees. TD Ameritrade will reimburse you for any ATM charges in the US and Canada.
  • Brick-and-mortar branches. TD Ameritrade has 175 offices across 39 states. But there are no branches in Delaware, Hawaii, Maine, Mississippi, Montana, New Hampshire, North Dakota, Rhode Island, South Dakota, West Virginia or Wyoming.
  • Can open online. Many other cash management accounts offered by brokerages require you to work with an advisor, but TD Ameritrade doesn’t.
  • 24/7 phone support. TD Ameritrade account holders can speak to live support specialists at any time by calling 800-669-3900.

What should I look out for?

This account has several compelling features, but there are a few drawbacks as well.

  • Some fees. You’ll pay fees for stopped payment, returned checks, outgoing wire transfers and any orders of more than 100 checks.
  • Must have a TD brokerage account. You can only use this account if you have an active TD Ameritrade brokerage account.
  • Can’t deposit cash. There’s no way to deposit cash directly into this account.

If you want an account that also earns interest or rewards, you’ll want to keep looking. As always, compare your options when considering a cash management account.

Is TD Ameritrade safe?

Yes. Uninvested funds in an Individual TD Ameritrade account are federally insured for up to $500,000, and joint accounts are insured for up to $1 million. Some other cash management accounts like Ameriprise ONE Financial Account are FDIC insured for up to $2.5 million, but others are only guaranteed up to $250,000.

TD Ameritrade reviews and complaints

TD Ameritrade is not accredited by the Better Business Bureau (BBB), but the organization gives it an A rating based on the company’s responses to 335 complaints in the past three years. However, TD Ameritrade has an average rating of 1.28 out of 5 based on 18 customer reviews featured on the BBB’s website. On Trustpilot, TD Ameritrade has a similar rating of 1.5 out of 5 based on 137 customer reviews. On both Trustpilot and the BBB’s website, most complaints are about TD Ameritrade’s trading platform, not its Cash management account.

TD Ameritrade’s ATM network and fees

TD Ameritrade’s Cash management account comes with a debit card you can use for free at any ATM in the US and Canada. TD Ameritrade will reimburse you for any ATM fees you incur. If you use the debit card at an ATM outside of the US or Canada, TD Ameritrade won’t assess any fees, but it won’t reimburse you for any fees charged by the owners of those international ATMs.

Compare TD Ameritrade Cash Management account with other accounts

Compare leading cash management accounts by fees, interest rates and ATM networks.

Name Product APY Minimum deposit to open ATMs Out-of-network ATM fee
Aspiration Spend & Save Account
Finder Rating: 4.2 / 5: ★★★★★
Aspiration Spend & Save Account
5.00% on balances of $0 to $10,000
55,000+ free Allpoint ATMs worldwide
Deposits are fossil fuel-free and insured by the FDIC. Enjoy a spend and save combo account with unlimited cash back rewards and a $150 bonus when you spend $1,000 in your first 60 days.
Personal Capital Cash
Finder Rating: 4.4 / 5: ★★★★★
Personal Capital Cash
No access to ATMs
The Personal Capital Cash account doesn’t require a minimum balance and is federally insured for up to $1.5 million.
Brex Cash account
Finder Rating: 3.4 / 5: ★★★★★
Brex Cash account
Brex Cash is an innovative cash management account that lets business owners choose whether to save or invest funds.
Betterment Checking
Finder Rating: 3.8 / 5: ★★★★★
Betterment Checking
Unlimited national and international ATM reimbursements.
The Betterment Checking account has no fees or minimums and unlimited ATM reimbursements.

Compare up to 4 providers

How do I deposit or withdraw my money?

There are several ways to deposit and withdraw funds from your TD Ameritrade Cash Management account, but you can’t deposit cash into your account.


  • Incoming ACH transfer. Link an external bank and transfer funds into your account at any time.
  • Mobile deposit. Use the TD Ameritrade mobile app to deposit paper checks.
  • Direct deposit. Your employer can deposit your paycheck directly into your account.
  • Deposit at offices. Deposit a check into your account at most TD Ameritrade offices.
  • Incoming wire transfers. There’s no fee to wire funds into your TD Ameritrade account.


  • ATM withdrawals. Access the funds in your account for free at any ATM in the US or Canada.
  • Write checks. Write as many checks as you want, and reorder up to 100 checks for free.
  • Bill pay. Automatically pay recurring bills for free using TD Ameritrade’s website.
  • Wire. There’s a $25 fee for outgoing wire transfers.
  • Outgoing ACH transfers. Transfer funds to an external bank at any time.

Checking account ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top checking accounts and rate them one to five stars based on factors that are most important to you. These factors include: monthly fees, the ease at which monthly fees can be waived, the breadth of ATM access, ATM and overdraft fees, and customer service.

Read the full methodology of how we rate checking accounts.

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