TD Student Checking account review August 2019 |

TD Student Checking account review

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TD Student Checking
  • Sign-on bonus
  • No minimum balance
  • Free savings account

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Fee-free banking for full-time students from ages 17 to 23.

The TD Student Checking account features mobile banking and $0 account minimums or monthly fees. But once you turn 24, it becomes a standard TD Convenience Checking account — meaning you could be hit with maintenance fees if your balance isn’t high enough.

Monthly fee$0
Minimum deposit to open$0
ATMs4,000 free ATMs across Canada and the US — though most are located on the East Coast.
ATM transaction fee$0
Out-of-network ATM fee$3 For each withdrawal, transfer, and balance inquiry
Overdraft fee$35
Nonsufficient funds fee$35
  • 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 the TD Student Checking account?

Among the 10 largest banks in the US, TD Bank offers an account geared for college students looking to get their banking footing with no fees and mobile banking to manage your money and deposit checks on the go.

  • $0 minimum balance. Bank without the need to watch your balance — which pairs nicely with $0 monthly fees.
  • Free savings account. Account holders can open a TD Simple Savings account with $0 monthly maintenance fee.
  • Free overdrafts. Sign up for overdraft transfers, and TD Bank waives the standard fees that come from withdrawing more money than is available in your account.

What should I look out for?

The TD Student Checking account offers standard banking with a few potential drawbacks:

  • Limited branches. TD Bank operates primarily on the East Coast, which can make in-person banking hard if you live elsewhere.
  • Fee kicks in at 24. If you don’t upgrade your account to a more robust option, you’ll pay a $15 monthly maintenance fee if your daily balance drops below $100.

TD Bank’s ATM network and fees

TD Bank supports more than 4,000 free ATMs across Canada and the US — though most are located on the East Coast. You’ll pay $3 for each withdrawal, transfer and balance inquiry you make at an ATM outside the bank’s network.

Compare with other checking accounts

Name Product APY ATMs Fee
Access to 16,000 ATMs and nearly 5,000 branches nationwide
(can be waived)
Get a $200 bonus when you open a new Chase Total Checking account and set up direct deposit within 60 days of opening your account. Chase's simplest checking account is easy to use and gives you access to 16,000 ATMs and nearly 5,000 branches.
1.25% on balances of $0+ with $1,000+ in direct deposits, 10 $3+ debit card transactions and 5 additional account transactions per month
ATM fees reimbursed at any ATM nationwide
Earn up to 1.25% APY while enjoying a suite of digital tools for smarter money management.
Free at over 56,000 ATMs around the world
A full-service account with convenient, surcharge-free access to two massive ATM networks.
0.01% on balances of $5+
Surcharge-free HSBC ATMs nationally and internationally, plus up to four rebates a month for using non-HSBC ATMs in all US states except New York
(can be waived)
Get $350 by funding and maintaining your new account with at least $5,000 in combined checking and savings for 90 days and setting up recurring third-party direct deposits for 3 consecutive months. Offer expires December 31, 2019.
2.00% on balances of $10,000+ or deposit $1+ each calendar month into any Aspiration cash management or investment account
Free to use anywhere worldwide
A spend and save combo account with no monthly service fees, free access to every ATM in the world, unlimited cash back rewards and deposits insured by the FDIC. The Aspiration Spend & Save Account is a cash management account offering of Aspiration Financial, LLC, an SEC-registered broker-dealer. Aspiration is not a chartered bank.
Free to use anywhere worldwide
(can be waived)
Get a $750 welcome bonus when you join Sapphire Banking by September 28, 2019. Within 45 days of joining, transfer a total of $75,000 or more in qualifying new money or securities to a combination of eligible checking, savings and/or investment accounts (excludes any J.P. Morgan retirement accounts and CDs), and maintain the balance for at least 90 days.

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How do I open a TD Student Checking account?

Open an account online in five steps:

  1. Go to TD Bank’s website. Under Products, click Checking.
  2. Click Learn more under Student Checking.
  3. Click Open account.
  4. Select the account you wish to open.
  5. Enter your personal information, review TD’s policies and make a deposit.

You can also open an account by visiting a branch or calling 888-751-9000.


You must meet basic eligibility requirements to open a TD Student Checking account:

  • Student enrolled full-time in college or university
  • US citizen with US residential address
  • Ages 18 to 23 (or 17 by opening a joint account with a parent or legal guardian)

Required information

Before you open an account, ready your:

  • Proof of active school enrollment
  • Contact information, including email address
  • Social Security number
  • Date of birth
  • Government-issued ID

How do I deposit or withdraw my money?


  • TD Bank mobile app
  • Cash or check at ATM
  • TD Bank store
  • Email a check
  • Direct deposit
  • Wire transfer
  • Zelle payment
  • Transfer from another bank


  • ATM using your debit card
  • Zelle payment
  • TD Bank store
  • Wire transfer
  • Cash back at retail stores

What other checking options does TD offer?

TD Bank offers four other checking account to eligible customers:

  • TD Convenience Checking. Similar to the TD Student Checking account but without waived monthly fees. When you turn 24, your TD Student Checking becomes a standard TD Convenience Checking account.
  • TD Beyond Checking. If you have an account balance of at least $2,500, TD Bank’s newest account waives all monthly maintenance and ATM fees — even at ATMs outside its network.
  • TD Simple Checking. Don’t want to worry about maintaining a minimum account balance? Pay a $5.99 monthly for the benefits of checking.
  • TD 60 Plus Checking. This interest-bearing account is available to those ages 60 and older, and TD Bank waives the monthly maintenance fee if your daily account balance is at least $250.

Bottom line

If you’re a student looking for a checking account with no monthly fees and free overdrafts, TD Student Checking could be a good fit. If you don’t live on the East Coast and would rather bank locally, explore other student checking accounts that better fit your needs.

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