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  • $3.95 Monthly Fee
  • $0 Welcome Bonus
  • 12 Transactions
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TD Minimum Chequing Account Overview

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You can enjoy all that chequing accounts have to offer and only pay a little with the TD Minimum Chequing Account. This TD Bank chequing account is perfect for all Canadians with minimal daily banking needs, and here’s why:

The TD Minimum Chequing Account demands a $3.95 monthly fee and offers 12 free monthly transactions. However, this monthly fee is waived for 60-year-old seniors and people with disabilities.

This chequing account offers online banking, big rewards at Starbucks stores, and automated saving features. Unfortunately, its ABM transactions are not free, while Interac e-Transfer transactions cost up to $1.00.

Here, you’ll explore all the essential information regarding this account and learn about other alternatives that you can consider.

TD Minimum Chequing Account features

In this section, you’ll see all the features that you get to enjoy with this chequing account:

  • 12 free transactions per month (included within are two full-serve transactions)
  • Online banking through EasyWeb
  • Online statement
  • Mobile cheque service through the TD App
  • Monthly spending tracker using TD MySpend
  • Automated savings using the Simple Save Program

The pros of the TD Minimum Chequing Account

Monthly Fee Waiver

The monthly fee for this account is waived for seniors 60 years of age or older who are collecting Guaranteed Income Settlement (GIS). This fee is also waived for beneficiaries of the Registered Disability Savings Plan.

Starbucks Rewards

Canadians with the TD Minimum Chequing Account can earn 50% more stars at participating Starbucks Stores with this account. To participate in this program, account owners only need to link their TD Access Card (with Visa Debit) to their Starbucks Rewards account.

The cons of the TD Minimum Chequing Account

Monthly Fee

Although it offers only basic features, this chequing account comes with a $3.95 monthly fee. While this fee can be waived, only seniors and disabled people can qualify for the waiver.

Interac e-Transfers Are Not Free

Compared to other chequing accounts, this TD chequing account charges for all Interac e-Transfers. There is a charge for transfers below $100 and those above $100.

TD Minimum Chequing Account fees

Opening the TD Minimum Chequing Account requires that you come to terms with a few fees, such as:

This chequing account demands a monthly fee of $3.95, which can be waived for seniors and people with disabilities. Of course, the seniors must provide proof of their GIS eligibility. After exhausting the 12 free transactions given per month, each additional transaction will cost $1.25.

All Interac e-Transfer transactions below $100 come with a $0.50 charge, while those over $100 come with a $1.00 charge. Transactions at non-TD ABMs in Canada come with a $2.00 charge.

ABM transactions performed in the US and Mexico come with a $3.00 charge, while those in other countries cost $5.00.

TD Minimum Chequing Account - Comparewise

TD Minimum Chequing Account special offers

At the time of writing this, TD Bank doesn’t have any special offers for its TD Minimum Chequing Account.

Other TD chequing account options

If you don’t like the TD Minimum Chequing Account, you can consider other chequing accounts. Some of the suitable options from TD Bank are shown below:

TD Every Day Chequing Account

This chequing account comes with a $10.95 monthly fee, with 60-year-old seniors paying $8.20. However, Canadians who keep a minimum monthly balance of $3,000 will have this fee waived. This account offers 25 free transactions each month and free Interac e-Transfers.

TD Unlimited Chequing Account

The monthly fee for this account is $16.95 (seniors over the age of 60 pay $11.95). A minimum balance of $4,000, however, will prevent the application of this charge. The unlimited monthly free transactions and Interac e-Transfers are major perks of this checking account.

How to open the TD Minimum Chequing Account

With the instructions you’ll see in the guide below, you’ll be able to open this chequing account. Ensure you’re up to the age of majority in your province, and you’re good to go.

  1. Visit the TD Bank Website: On this website, go to the personal accounts section, and select “Bank Accounts.” Choose “TD Minimum Chequing Account” from the options shown and click on “Open Account.”
  2. Enter Your Personal Information: First, you’ll be shown the various features of this account before your personal information is needed. Suppose you have an account with another financial institution, such as the Royal Bank of Canada. In that case, TD Bank can get your personal information. If not, you’ll have to input your personal details by hand.
  3. Confirm Your Credit History: In this section, you’ll need to answer questions regarding your credit history.
  4. Confirm Your Identity: After answering questions regarding your credit history, you’ll need to upload identifying documents.

Once you’re done submitting the required documents, your new account will be created, and you’ll receive an account number.

TD Minimum Chequing Account conclusion

If you desire the basic features of a chequing account, the TD Minimum Chequing Account offers all you need.

Opening this account means paying a $3.95 monthly fee, which is only waived for seniors and people with disabilities. Besides that, this TD chequing account provides all the chequing account benefits that you’ll desire.

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FAQs about the TD Minimum Chequing Account

What are the full-serve transactions included in the free transactions of this TD chequing account?

Full-serve transactions are those that are completed in a branch of TD Bank. These transactions also include those performed through the EasyLine Telephone banking service. This chequing account allows Canadians to perform their first two full-serve transactions for free.

What fees do I need to pay when I withdraw from my TD Chequing Account outside Canada?

When you withdraw funds from ABMs outside Canada, you must pay the $5.00 fee. If the ABM provider in that country demands a charge for its services, you'll also need to pay that. Take note that if you're withdrawing foreign currency, you'll also need to foot the exchange-related fee.

Do I get overdraft protection with this TD Chequing Account?

Yes, most TD accounts get overdraft protection, and this account is one of them. Overdrafts incur interest at a rate of 21% per year and must be repaid in full within 89 days. If not, the overdraft will be paid with the next deposit to that account.

TD Minimum Chequing Account Details

Monthly Fee
$3.95
Transaction Fee
$1.25
E-Transfer Fee
$0.50
Monthly Self Serve Transactions
12
Monthly Cheque Transactions
12
Monthly E-Transfers
12
Number of Monthly Transactions
12
Foreign Transaction Fee
$3
Other Features

TD Minimum Chequing Account Contact

Phone Number
Hours
9AM - 11PM
Website
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TD Minimum Chequing Account Details
  • Account Type : Chequing
  • Monthly Fee : $3.95
  • Monthly Transactions : 12
  • Other Features :
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