Canada’s TD Bank Review 2025
TD Bank overview
🏦 TD Bank was founded in 1855 and is one of Canada’s Big Six banks.
TD BANK ACCOUNT OPTIONS
Savings
Chequing
Visa credit cards
Investing
OTHER TD BANK SERVICES
Mortgages
Loans and lines of credit
Wealth management services
Insurance
Business accounts and financing
Canadians who prefer a Big Bank and want to keep all their financial accounts in one place.
TD Bank’s lineup of accounts and services makes it easy to manage most of your finances in one place, whether you bank online or at the branch. Its U.S. foothold may also benefit frequent travellers, cross-border professionals and businesses. Overall, TD Bank could be a practical fit for those comfortable trading slightly lower interest rates for the convenience of a one-stop financial hub.
PROS AND CONS
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
- Well-reviewed mobile app.
- Comprehensive lineup of accounts and services for individuals and businesses.
- Sophisticated investing platforms.
Cons
- High insufficient funds fee, though similar to most other Big Banks.
- Minimum balance requirements to earn interest in savings accounts and avoid fees on chequing accounts.
- Fees for Interac e-transfers on many accounts.
- No branches or ATMs in Nunavut.
TD Bank full review
The Toronto-Dominion Bank, or TD Bank, is known as one of Canada’s Big Six banks. It serves more than 27.5 million customers around the world, including 15 million in Canada, 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.
WHAT ONLINE BANKING FEATURES DOES TD OFFER?
TD Bank offers an online banking portal named EasyWeb. It provides online and mobile banking options for customers who prefer digital banking. Through EasyWeb, you can pay bills, transfer funds, manage investments, and more.
Customers can access TD’s online services from a computer, tablet, mobile device, or Apple Watch. TD’s main mobile app for Apple and Android devices lets you manage your accounts, make payments, deposit cheques and more.
TD also offers TD MySpend, a budgeting app that can track and categorize your expenses and help you save toward big goals.
IS MY MONEY SAFE AT TD?
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 $1 million 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.
🚩 Customer ratings
We gather consumer feedback to understand how users feel about banking with TD. While the bank performs well on mobile app stores, its score remains below average on the consumer review platforms and forums.
As of this writing, TD Bank had the following ratings:
4.5 stars on the Apple App Store and 4.8 stars on the Google Play Store.
1.4 out of 5 possible stars, based on more than 2,600 customer reviews on Trustpilot.
1.16 out of 5 possible stars, based on nearly 225 customer reviews on the Better Business Bureau’s website.
What Reddit users are saying
TD Bank tends to receive mixed feedback. In recent posts, however, some Reddit users expressed frustration over the rising fees and minimum balance expectations. They described it as the “last push” they needed to switch banks.
Reddit discussions include:
Note: Consumer review platforms tend to reflect a higher volume of negative feedback as satisfied users are less likely to leave comments. Additionally, individual reviews may not reflect the full experience of these users. That said, public forums can offer a helpful starting point for understanding how the financial institution handles account issues, customer service and overall support.
TD Bank accounts and services
As one of Canada’s biggest banks, TD offers a wide selection of accounts for you to choose from. NerdWallet's picks for best banking products include:
NerdWallet's take
NerdWallet's take
Product details
Product detailsNerdWallet's take
NerdWallet's takeProduct details
Product detailsTD Bank savings accounts
🤓 OUR TAKE
TD Bank savings accounts earn average interest rates ranging from 0.01% to 1.50% across various balance tiers. New account offers include cash-back, but no promotional rates. If growing your savings is your priority, you’ll find better rates elsewhere.
Explore TD 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 free transaction per month.
TD High Interest Savings Account: Earn interest on balances of $5,000 or more, but pay $5 per transaction unless you have a $25,000 minimum balance.
TD ePremium Savings Account: Earn interest on balances of $10,000 or more and get unlimited free online transfers between TD accounts.
TD Bank chequing accounts
🤓 OUR TAKE
TD Bank’s new chequing account bonuses are in par with other Big Six banks. However, free unlimited chequing privileges come with leaving around $5,000 minimum in a non-interest-bearing account. Ideal for heavy in-branch service users.
Explore TD chequing accounts
TD Minimum Chequing Account: 12 transactions per month for a $3.95 monthly fee.
TD Every Day Chequing Account: 25 transactions per month plus free Interac e-transfers for a $10.95 monthly fee (waived with a $3,000 minimum balance).
TD Unlimited Chequing Account: Unlimited transactions with a $16.95 monthly fee (waived with a $4,000 minimum balance).
TD All-Inclusive Banking Plan: Unlimited transactions, free personalized cheques and a safety deposit box for a $29.95 monthly fee (waived with a $5,000 minimum balance).
TD Student Chequing Account: Unlimited transactions with no monthly fees for students or anyone under the age of 23.
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 a US$4.95 monthly fee (waived with US$3,000 minimum balance).
TD Bank credit cards
🤓 OUR TAKE
TD Bank’s Visa Infinite and co-branded travel credit cards catalogue offers a range of valuable perks, but usually at a purchase interest rate of 21.99%. Plus, new sign-up bonuses and rebates may be a reason enough to get a TD rewards card.
Explore TD credit cards
TD Bank credit cards include a large selection of options, including:
TD First Class Travel Visa Infinite Card.
TD U.S. Dollar Visa Card.
TD Rewards Visa Card.
» MORE: Read our review of the Expedia for TD travel rewards program
TD Bank investing accounts
🤓 OUR TAKE
TD Bank provides a wide range of registered accounts and investment options, but with lower-than-average interest rates from 0.01% to 0.50%. For better long-term growth, consider online investment platforms.
Explore TD investment options
Non-registered cash investing account.
Other TD Bank services
🤓 OUR TAKE
TD Bank’s full suite of offerings, combined with branch, phone and online chat support, makes it a favourable choice for a one-stop financial hub.
Explore other services
Other services you can find at TD Bank include:
Personal loans.
Auto loans.
RRSP loans.
Investment options include stocks, mutual funds, bonds, guaranteed investment certificates, 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:
Fees you should know about
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
Interac e-transfer: $0.50 to $1
Transfer fee for registered investment accounts (RRSP, TFSA): $75
How TD Bank compares to other Big Banks
ATMS AND BRANCHES | ARE DEPOSITS INSURED? | |
|---|---|---|
ATMs: 4,000+ Branches: 1,100+ | Yes, by the Canada Deposit Insurance Corporation. | |
ATMs: 2,000+ Branches: 360+ | Yes, by the Canada Deposit Insurance Corporation. | |
ATMs: 2,500+ Branches: 1,000+ | Yes, by the Canada Deposit Insurance Corporation. | |
ATMs: 3,200+ Branches: 800+ | Yes, by the Canada Deposit Insurance Corporation. | |
ATMs: 2,900+ Branches: 1,000+ | Yes, by the Canada Deposit Insurance Corporation. | |
ATMs: 3,500+ Branches: 900+ | Yes, by the Canada Deposit Insurance Corporation. |
» MORE: Read our Banking reviews of other Big Banks, credit unions and online-only banks.
Frequently asked questions
What does TD Bank stand for?
What does TD Bank stand for?
The Toronto-Dominion Bank, or TD Bank, is the retail banking arm of TD Bank Group — an international financial services provider.
Does TD Bank send text alerts?
Does TD Bank send text alerts?
Yes. TD Bank sends text alerts to warn customers about suspected fraudulent activity. It may also send you a text message to confirm changes you make in the TD app.
DIVE EVEN DEEPER
Siddhi Bagwe
Clay Jarvis
