Shannon Terrell
Siddhi Jahagirdar Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own.
TD Bank at a glance
TD Bank was founded in 1955 and is one of Canada’s Big Six banks.
- TD Bank account optionsSavings
Chequing
Visa credit cards
Investing - Other TD Bank servicesMortgages
Loans and lines of credit
Wealth management services
Business accounts and financing
TD Bank overview
Toronto-Dominion Bank, or TD Bank, is known as one of Canada’s Big Six banks. It serves more than 15 million customers and has a robust product lineup that reflects its many decades in business. TD Bank offers a broad spectrum of personal and business accounts, including chequing and savings accounts, credit cards, investments, lending products and more. You can find TD branches and ATMs in every province and territory in the country, with the exception of Nunavut. And its digital banking platform, EasyWeb, can be accessed from a variety of devices.
Online banking capabilities at TD Bank
TD Bank’s online banking portal is called EasyWeb. It offers online and mobile banking access for customers who prefer to bank digitally. From the EasyWeb platform, you can pay bills, transfer money, manage your investments, deposit cheques and more. Customers can access TD’s online banking services from a computer, tablet, mobile device, or Apple Watch.
TD’s mobile app receives high scores from Android and Apple users alike, boasting an average of 4.4 and 4.5 out of 5 stars on Google Play and in the Apple App Store, respectively.
Is my money safe at TD Bank?
TD Bank carries Canada Deposit Insurance Corporation (CDIC) insurance, which covers up to $100,000 of eligible deposits if TD goes under. It also has coverage from the Canadian Investor Protection Fund (CIPF), which protects up to $1M of investor assets across different accounts in the event of insolvency. TD Bank customers are also protected from losses that result from unauthorized transactions.
The bank uses firewalls, 128-bit data encryption and website cookies to protect sensitive banking data. Additionally, TD customers can elect to enroll in voice authentication technology to further safeguard their accounts.
TD Bank accounts and services
As one of Canada’s biggest banks, TD offers a wide selection of accounts for you to choose from.
TD Bank savings accounts
None of TD’s personal savings accounts have monthly fees.
- TD Every Day Savings Account: No-frills savings account with no balance requirements and one transaction monthly.
- TD High Interest Savings Account: earn interest on balances of $5,000 or more.
- TD ePremium Savings Account: earn interest on balances of $10,000 or more and get unlimited online transfers between TD accounts.
TD Bank chequing accounts
- TD Minimum Chequing Account: 12 transactions monthly for a $3.95 monthly fee.
- TD Every Day Chequing Account: 25 transactions monthly for a $10.95 monthly fee.
- TD Unlimited Chequing Account: unlimited transactions with a $16.95 monthly fee.
- TD All-Inclusive Banking Plan: unlimited transactions, free personalized cheques and a safety deposit box for $29.95 monthly.
- TD Student Chequing Account: unlimited transactions with no monthly fees for students or anyone under the age of twenty-three.
- U.S. Daily Interest Chequing Account: USD bank account that earns interest and has no monthly fees.
- Borderless Plan: cross-border banking services with unlimited transactions for $4.95 USD monthly.
TD Bank credit cards
TD Bank credit cards include a large selection of cards, but are not limited to:
- TD Aeroplan Visa Infinite Privilege Card.
- TD Aeroplan Visa Infinite Card.
- TD First Class Travel Visa Infinite Card.
- TD Cash Back Visa Infinite Card.
- TD U.S. Dollar Visa Card.
- TD Rewards Visa Card.
- TD Emerald Flex Rate Visa Card.
» MORE: Read our review of the Expedia for TD travel rewards program
TD Bank investing accounts
- Non-registered cash investing account.
- Registered retirement savings plans (RRSPs).
- Tax-free savings accounts (TFSAs).
- Registered retirement income funds (RRIFs).
- Registered education savings plans (RESPs).
- Registered disability savings plans (RDSPs).
- Locked-in retirement account (LIRA).
- Life income fund (LIF).
Other TD Bank services
- Mortgages.
- Home equity line of credit (HELOC).
- Lines of credit.
- Loans.
- Overdraft protection.
- Investment options include stocks, mutual funds, bonds, guaranteed investment certificates, or GICs, ETFs and options.
- Wealth management services include one-on-one sessions with a dedicated financial planner or advisor.
- Business bank accounts and financing options.
TD Bank fees
Banking fees vary by account and service. Here are some of the common fees you may encounter using TD Bank’s financial products:
- Withdrawal fee for domestic non-TD ATM: $2
- Withdrawal fee for international non-TD ATM: $3 to $5 plus 3.5% of the Canadian dollar amount after conversion
- Non-sufficient funds fee: $48
- Interac e-Transfer: $0.50 to $1
- Transfer fee for registered investment accounts (RRSP, TFSA): $75
Who TD Bank is best for
Canadians who want to keep all their financial accounts in one place.
TD Bank has much to offer. In fact, there isn’t much missing from its account and service lineup, which means it may be a good choice for people who want to keep all their financial accounts in one place, and desire a mix of in-person and digital banking services. TD Bank’s foothold in the US is good news for those that frequently cross the border or deal in USD. Overall, TD Bank may be a practical fit for those that want a one-stop-shop for their financial accounts and prefer a bank that can offer both in-person and online services.
Pros and cons of TD Bank
There’s plenty to like about TD Bank but no bank or credit union is without its drawbacks. Here’s what to consider before you open an account.
Pros of TD Bank
- Well-reviewed mobile app.
- Comprehensive lineup of accounts and services for individuals and businesses.
- Sophisticated investing platforms.
Cons of TD Bank
- High insufficient funds fee.
- Minimum balance requirements on savings accounts.
- Fees for Interac e-Transfers.
- No branches or ATMs in Nunavut.
How TD Bank compares to other big banks
| TD Bank | BMO Bank | RBC Bank | |
|---|---|---|---|
| Number of countries served | 10 | More than 10 | 29 |
| Number of branches in Canada | More than 1,200 | More than 900 | More than 1,200 |
| Mobile app? | Yes | Yes | Yes |
| Are deposits insured? | Yes, by the Canada Deposit Insurance Corporation and Canadian Investor Protection Fund. | Yes, by the Canada Deposit Insurance Corporation and Canadian Investor Protection Fund. | Yes, by the Canada Deposit Insurance Corporation. |
TD Bank frequently asked questions
Toronto-Dominion Bank, or TD Bank, is the retail banking arm of TD Bank Group — an international financial services provider.
Yes. TD Bank sends text alerts to warn customers about suspected fraudulent activity. It also sends threshold and overlimit text messages when customers fall below designated balance or credit thresholds and when credit limits are exceeded.
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