TD Convenience Checking account review August 2019 | finder.com

TD Convenience Checking account review

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TD Convenience Checking
  • $150 bonus
  • No monthly fees for students
  • No minimum opening deposit

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The potential $150 bonus for new qualifying customers could help offset monthly maintenance fees.

The TD Convenience Checking account offers digital wallet compatibility, free Zelle transfers, TD rate discounts and no fees for students. But the $15 monthly maintenance fee could chip at your funds.

Monthly fee$15 per month
To waive the feeMaintain a minimum daily balance of $100
OR If the Primary account holder is age 17 through 23
Minimum deposit to open$1
Intro or bonus offerEarn $150 when you receive direct deposits totaling $500 or more within 60 days
ATMs1,900 ATMs across the country and Canada.
ATM transaction fee$0
Out-of-network ATM fee$3
Overdraft fee$35
Nonsufficient funds fee$35
Cash
Check
Transfer
  • Cash by teller
  • Check by teller
  • Bank transfer
  • Cash by ATM
  • Check by ATM
  • Wire transfer
  • Mobile/remote check deposit
  • Direct deposit

What are the benefits of a checking account with TD?

Enjoy mobile banking, mobile check deposit and free Zelle transfers along with the following:

  • No minimum opening deposit. Open the TD Convenience Checking account with any amount.
  • No monthly fees for students. Skip the monthly fees if you’re between the ages of 17 and 23.
  • TD rate discounts. Holding a TD checking account entitles you to a 0.25% rate discount on TD HELOCs and personal loans.
  • $150 bonus. New customers who receive $500 or more in direct deposit funds within 60 days of opening their account receive a $150 bonus.
  • 24/7 customer service. Customer service is available by phone all day, every day.

What should I look out for?

The TD Convenience Checking account isn’t without its shortcomings:

  • $15 maintenance fee. Unless you maintain a daily balance of $100 or more, you’ll be saddled with a $15 monthly maintenance fee.
  • $1 paper statements. If you’d like your statements to arrive by mail, expect a $1 paper statement fee.

TD’s ATM network and fees

The TD Convenience Checking account comes with a TD Bank Visa Debit card. This debit card can be used to make deposits and withdraw funds at ATMs.

TD Bank is affiliated with the NYCE ATM network, with over 300,000 ATMs located across North America. Banking with TD ATMs is free, but non-TD ATM transactions are subject to a $3 fee.

How do I open a TD Convenience Checking account?

  1. Go to TD’s website and click Open account.
  2. Enter your full name, phone number and email address. Click Next.
  3. Enter your Social Security number, date of birth and driver’s license, state ID or passport number. Click Next.
  4. Review your submitted information and make any necessary changes. Then, review TD’s account disclosures and online terms and conditions.

Finally, you’ll be asked to fund your TD Convenience Checking account with a minimum deposit of $1. You can make a deposit from an externally linked account, or you can mail a check to:

    1. TD Bank N.A.
    1. ME2-001-033
    1. PO Box Number 1190
    Lewiston, Maine 04243

Your TD Visa Debit card will arrive by mail within seven to 10 business days.

Eligibility

Maintain your eligibility for this account by meeting the following criteria:

  • US citizen
  • At least 18 years old
  • Social Security number
  • Valid driver’s license or state ID
  • Valid bank account

Required information

Before you begin your application, gather the following:

  • Name, date of birth and residential address
  • Contact information
  • Employment information
  • Social Security number
  • Driver’s license or state ID
  • External bank account number and routing number of funding account

How do I deposit or withdraw my money?

There’s no shortage of options for accessing your funds with TD Bank:

  • Online deposit. Make an online transfer to or from an externally linked account.
  • Mobile check deposit. Using TD Bank’s free mobile app, deposit a check using your mobile device.
  • Mail. Mail a check to TD Bank.
  • ATM. Deposit funds or withdraw cash at over 300,000 nationwide ATMs.
  • Wire transfer. Incoming wire transfers cost $15, while outgoing domestic and international transfers cost $25 and $40, respectively.
  • In person. Visit a local TD Bank branch to conduct your banking in person.

What other checking options does TD offer?

TD Bank has an abundance of checking options:

  • TD Simple Checking. This straightforward checking account has a $5.99 monthly maintenance fee. But it offers mobile banking and a 0.25% rate discount on TD home equity and personal loans.
  • TD Beyond Checking. Deposit $2,500 within 60 days of account opening to earn $300. Maintain that balance to waive the $25 monthly fees and receive ATM fee reimbursements.
  • TD Student Checking. Students between the ages of 17 and 23 enjoy no minimum balance requirements and no maintenance fees.
  • TD 60 Plus Checking. Available to those 60 and older, this interest-bearing checking account comes with free checks, money orders and paper statements alongside a $10 maintenance fee that can be waived with a $250 daily balance.
  • TD Business Simple Checking. This account comes with a $10 monthly maintenance fee and offers up to 200 paid or deposited items per statement cycle and up to $5,000 in cash deposits for free.
  • TD Business Convenience Checking Plus. After a $100 minimum opening deposit, you get up to $10,000 in cash deposits in store and 500 paid or deposited items for free per statement cycle.
  • TD Business Premier Checking. You’ll need at least $200 to open this business checking account, but you’ll receive 500 paid or deposited items and up to $30,000 in cash deposits in store for free.

Bottom line

From round the clock customer service to free Zelle transfers, the TD Convenience Checking account has plenty of perks to offer potential account holders. But the $15 maintenance fee could detract from your funds if you can’t hold a daily balance of $100 or more.

Not what you’re looking for? Explore your checking account options with other providers for the features that best meet your needs.

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