Every Canadian needs a secure place to store and move their money. These days, dozens of financial institutions are available to do your banking. Still, traditional banks continue to be popular amongst consumers thanks to their history, and TD Bank is one of them.
Founded in 1955, TD Bank is one of Canada’s 5 big banks and offers a wide range of financial products and services. To compete with the digital financial institutions that continue to pop up, TD now offers online and mobile portals to make digital banking easy for their clients.
Read on to learn more about TD Bank and the products and services offered.
TD Bank offers various financial products and services, from basic bank accounts to loans and insurance products.
TD offers several different types of savings and chequing accounts, each designed with specific needs and situations in mind:
| Account Type | Monthly Account Fee | Features |
| TD Unlimited Chequing Account | $16.95 | – $300 gift card offer (for a limited time) – Unlimited transactions – Free withdrawals from TD ATMs in Canada – Free Interac e-Transfers |
| TD All-Inclusive Banking Plan | $29.95 | – $300 gift card offer (for a limited time) – Unlimited banking transactions – Unlimited premium banking perks – Free cheques & drafts |
| TD Student Chequing Account | $0 | – Unlimited monthly transactions – No for monthly overdraft protection – Free Interac e-Transfers |
| TD Minimum Chequing Account | $3.95 | – 12 transactions/month |
TD offers a handful of savings accounts to safely store your money while collecting interest on your balance:
Newcomers to Canada who have lived in Canada for 5 years or less can qualify for TD’s New to Canada Banking Package. This account is particularly helpful for those who have minimal credit history and need some help building a strong credit profile.
The TD New to Canada Banking Package includes the following:
TD offers multiple credit cards, each designed with its own specific need in mind. Whether you need a card that has zero annual fees, offers cash back with every dollar spent, or comes with a comprehensive insurance package, TD has a card for you.
| Category | Card Name |
| Aeroplan Credit Cards | – TD Aeroplan Visa Infinite Card – TD Aeroplan Visa Platinum Card – TD Aeroplan Visa Infinite Privilege Card – TD Aeroplan Visa Business Card |
| Cash Back Credit Cards | – TD Cash Back Visa Infinite Card – TD Cash Back Visa Card – TD Business Cash Back Visa Card |
| No Fee Credit Cards | – TD Rewards Visa Card – TD Business Select Rate Visa Card |
| Low-Interest Credit Cards | – TD Emerald Flex Rate Visa Card |
With so many TD cards available, it can be tough to choose just one. We’ve rounded up the top TD credit cards, based on all the perks, features, and fees that come with each:
The TD Aeroplan Visa Infinite Card comes with an annual fee of $139 (waived the first year). With this card, cardholders can earn 1.5 points on every $1 spent on eligible grocery, gas, and Air Canada purchases. All other purchases will earn them 1 point on every $1 spent. Cardholders can also earn an extra 50,000 Aeroplan points as part of their welcome bonus.
The card also comes with a robust travel insurance package, which covers medical care, lost/stolen luggage, trip interruption or cancellation, and car rental damage. You can also save on baggage fees at the airport, and take advantage of VIP perks including Complimentary Visa Infinite Concierge services, Visa Infinite Entertainment Access, and the Visa Infinite Wine Country Program, among others.
The TD Cash Back Visa Infinite Card comes with an annual fee of $120 (waived the first year). With this card, cardholders can earn 3% cash back on eligible gas and grocery purchases and on recurring bill payments set up with their account. All other purchases will earn them 1% cash back. Cardholders can also earn an extra 10% cash back on all purchases, up to $2,000 in expenditures as part of their welcome bonus.
The card also comes with various insurance coverages, including emergency roadside assistance and travel medical insurance.
The TD Rewards Visa Card is a free card that allows you to earn points with each purchase. With this card, cardholders can earn 2 TD Rewards Points for every $1 spent on grocery purchases, restaurant purchases, and recurring bill payments. Travel purchases made through ExpediaForTD.com will earn them 3 TD Rewards Points for every $1 spent. All other purchases will earn them 1 TD Rewards Point for every $1 spent. Cardholders can also take advantage of a promotional 9.99% interest rate on purchases for the first 6 months as part of their welcome offer.
The card also comes with Priority Pass Membership discounts on VIP airport lounge memberships, as well as discounts at Avis Rent-A-Car and Budget Rent-A-Car locations.
Find out how to cancel a TD credit card online.
Smart investing can make your money work for you to help you reach your financial goals sooner, no matter what they may be. Whether you’re looking to save up to buy a home, pay for post-secondary education, or for retirement, TD has an investment product for you.
With TD you can use TD Easy Trade, TD Direct Investing, TD Advanced Dashboard to help you invest in various investment products such as stocks & equities, exchange-traded funds (ETFs), mutual funds, fixed Income Investments and GICs.
If you’re in need of insurance coverage, you’ll find a plan through TD:
There are also several creditor insurance plans available to help you cover your premium costs in the event of illness, injury, disability, or death. Credit insurance is available for many loan types, such as mortgages, lines of credit, personal loans and credit cards.
Loans can be useful when there’s not enough liquid cash available to cover an expensive purchase. In these cases, TD offers several loan types to help make these costly purchases possible:
When it comes to setting up direct deposits or pre-authorized debits with your bank, you may need to provide a void cheque to help verify the bank and account information. Here are two ways to get a TD void cheque:
If you’re looking to set up direct deposit to have your paycheques deposited directly into your TD bank account, you can do so via the TD App or by signing onto EasyWeb. Simply sign into your TD account using either one of these portals.
| TD App – Google Play | You can access your account information under the Summary tab. | Download App |
| TD App – Apple | You can access your account information under the Summary tab. | Download App |
| TD EasyWeb | Simply click on the account you want your direct deposits to go into, and choose “Direct deposit form (PDF)” | Go To Site |
If you want to have payments from the Canadian government or CRA directly deposited into your TD chequing account, you must first be registered for EasyWeb, or you can call EasyLine at 1-866-222-3456. For CRA payments, you’ll need to provide your consent, and TD will work with the CRA to take care of the rest.
For all other Government of Canada payments, you’ll need to fill out the Canada direct deposit enrollment form and mail it in to the government address provided.
If you look at the bottom of your TD cheque, you’ll find several numbers. Here’s what they all mean:
Financial institutions identify their branches with a transit or branch number, which consists of five digits. This number represents the bank branch where you opened your account.
If you have a paper cheque, the transit number follows the 3-digit cheque number at the bottom of the cheque. You can also find your transit number by accessing the pre-filled Direct Deposit form (PDF) via the TD app or website.
The institution number is a 3-digit number that is used to identify your bank. TD’s institution number is 004. These are the first three digits you’ll see at the bottom left corner of your cheque.
The routing number is made up of the 5-digit transit (branch) number and the 3-digit institution number. These eight numbers follow the first 3-digits (cheque number) at the bottom of the cheque.
Routing numbers are used to process cheques, e-transfers, direct deposits, and recurring bill payments. You can find the routing number at the bottom of your cheque or by accessing the pre-filled Direct Deposit form (PDF) on the TD app or website.
TD Global Transfer offers a safe and convenient way to quickly send money abroad in more than one way. You can send funds to recipients in over 200 countries via direct deposit to the recipient’s bank account or eligible Visa card, or through a secure cash pick up.
TD Global Bank Transfers typically take between 1 to 5 business days for the transfers to go through, while Visa direct transfers take as little as 24 to 48 hours. Cash pick up via Western Union is the fastest mode of delivery, which can be completed within 2 to 4 hours.
In order to be able to send money internationally through TD’s Global Transfer, you’ll need the following:
Depending on the TD Bank product you use, the fees associated with it will differ. However, here is a table of some common fees to consider.
| Credit Card Annual Fee | Varies between $0 – $599 |
| Bank Account Monthly Fee | Varies between $0 – $29.95 |
| Account Inactivity Fees | $20 – $40 |
| Stop pre-authorized debit or cheque payment | $12.50 or $25 |
| NSF Fee | $48 |
| Overdraft Protection | $0 – $5 depending on the account |
TD offers a handful of ash back credit cards and rewards credit cards that let you earn points with every purchase you make, including the following:
You can use TD’s Goal Tracker feature to help you set reward goals and keep tabs on your progress. Once you collect a certain number of points or cash back, you can redeem them for rewards, such as:
In addition to the traditional ways of accessing your TD accounts, such as via telephone banking or at a physical branch, you can quickly and conveniently access your TD accounts online or through the TD banking app.
| TD App – Google Play | Download App |
| TD App – Apple | Download App |
| TD EasyWeb | Go To Site |
To use online banking, you’ll first need to enroll by providing your name, e-mail address, and account information. Then, create a username and password that you’ll use to safely log into online banking.
Once you’re enrolled in online banking with TD, you can use the TD app to access your accounts from your mobile device. Once you’re logged in, you’ll see your accounts, including your balances and transactions. You can also use the app to deposit cheques, pay bills, make transfers, send and receive money, and view your statements.
Whether you’re looking for a secure place to stash your money or want access to a credit card that will help your money work for you, TD Bank has just about everything you need. With so many products to choose from, be sure to compare each one before selecting one that best suits your needs.
Lisa has been working as a personal finance writer for more than a decade, creating unique content that helps to educate Canadian consumers in the realms of real estate, mortgages, investing and financial health. For years, she held her real estate license in Toronto, Ontario before giving it up to pursue writing within this realm and related niches. Lisa is very serious about smart money management and helping others do the same.
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