TD Bank | Accounts, Products, Fees, & Rewards

TD Bank | Accounts, Products, Fees, & Rewards

Written by Lisa Rennie
Fact-checked by Caitlin Wood
Last Updated August 15, 2022

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.

What Kind Of Products And Services Does TD Offer?

TD Bank offers various financial products and services, from basic bank accounts to loans and insurance products. 

TD Bank Accounts

TD offers several different types of savings and chequing accounts, each designed with specific needs and situations in mind:   

Account TypeMonthly Account FeeFeatures
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 Savings Accounts 

TD offers a handful of savings accounts to safely store your money while collecting interest on your balance:

  • TD Every Day Savings Account – This account has no monthly fee and earns interest on every dollar deposited (current rate is 0.010%). With this account, you’ll get 1 free transaction per month and unlimited free transfers to your other TD accounts. 
  • TD High-Interest Savings Account – This high-interest account also has no monthly fee and earns interest on balances of at least $5,000 (current rate is 0.050%). Each transaction has a fee of $5.00 but, it will be waived if you maintain a minimum monthly balance of $25,000.
  • TD ePremium Savings Account – Like the other savings accounts, this account has no monthly fee and will let earn 1.00% in interest when you have a balance of at least $10,000. With this account, you’ll also get unlimited free online transfers. 

TD Newcomer Bank Package

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 Unlimited Chequing Account  – Get a TD Unlimited Chequing Account for free for 1 year, plus the opportunity to receive an Amazon gift card worth $300.
  • TD ePremium Savings Account or TD Every Day Savings Account  – If you open any one of these savings accounts, you’ll receive a 0.25% bonus rate for 6 months. You’ll also have the opportunity to receive a $50 Amazon gift card when you open a new account.

TD Credit Cards

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. 

CategoryCard 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

Best TD Credit Cards

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:

TD Aeroplan Visa Infinite Card 

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.

TD Cash Back Visa Infinite Card

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.  

TD Rewards Visa Card

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.

TD Investment Products

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. 

TD Insurance Products

If you’re in need of insurance coverage, you’ll find a plan through TD: 

  • TD Auto Insurance
  • TD Life Insurance
  • TD Home/Condo/Tenant Insurance
  • TD Accident & Sickness Insurance

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.

TD Loans

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:

  • Personal Loans
  • Dealership Vehicle Loans
  • Private Sale Vehicle Loans
  • TD On-the-Spot RRSP Loans
  • TD CarryForward RRSP Loans

How To Get A TD Void Cheque

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: 

  • Use A Paper Cheque. If you already have possession of paper cheques linked to your chequing account, all you need to do is write “VOID” across your TD cheque in large letters. Alternatively, you can provide the numbers that appear on the cheque, which include the transit (branch) number, financial institution number, designation number, and account number.
  • Download The Form Online. If you don’t have any paper cheques and need access to a void cheque, you can access the information you need via the TD website or TD app. Either sign in to TD’s EasyWeb or TD app and select the account you need a void cheque for, then download the direct deposit form

How To Get TD Direct Deposit Form

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 PlayYou can access your account information under the Summary tab.Download App
TD App – AppleYou can access your account information under the Summary tab.Download App
TD EasyWebSimply click on the account you want your direct deposits to go into, and choose “Direct deposit form (PDF)”Go To Site

How To Set-Up Direct Deposit For Government Paycheques With TD

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.

TD Basic Numbers

If you look at the bottom of your TD cheque, you’ll find several numbers. Here’s what they all mean:

Where Can I Find The TD Transit Number?

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.

Where Can I Find The TD Institution Number?

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.

Where Can I Find The TD Routing Number? 

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.

How Do I Find My TD International Money Transfer Information?

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. 

Information Needed To Send Money Internationally 

In order to be able to send money internationally through TD’s Global Transfer, you’ll need the following:

  • An eligible TD account
  • The recipient’s information, such as their bank account number, currency, and tax ID (if applicable) 
  • Bank Number (e.g. BIC, Swift, Routing Code) – In Canada, the Bank Identifier Code (BIC) is also known as the SWIFT code or Bank Number (004)  which is TDOMCATTTOR

TD Bank General Fees

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 FeeVaries between $0 – $599
Bank Account Monthly FeeVaries 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 Rewards Program

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:

  • TD Aeroplan Visa Infinite Card
  • TD Rewards Visa Card
  • TD Cash Back Visa Infinite Card
  • TD Cash Back Visa Card

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: 

  • Amazon.ca purchases
  • TDRewards.com purchases
  • Travel purchases
  • Gift cards
  • Cash credit to your account
  • College or university tuition 

How Can You Access Your TD Accounts?

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 PlayDownload App
TD App – AppleDownload App
TD EasyWebGo 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.

Final Thoughts

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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