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Opening an account at TD Canada Trust Bank in Canada

Opening an account at TD Canada Trust Bank in CanadaTD Canada Trust is a banking giant in Canada, with 1,100 branches and 10,000,000 customers. TD Trust acquired Canada Trust in 2000 and the combined company now covers the entire country.

One of the thing the bank emphases in commercials and promotions are its longer-than-normal banking hours and the fact that many of it branches are in convenient locations, such as malls and larger grocery stores.

Opening an account at TD Canada Trust Bank in Canada

What types of accounts are available?

The bank offers a variety of checking, savings and investment accounts, each of them with different costs and features. While most of the bank’s customers reside inside Canada, the bank is expanding its offering to a more international clientele and their services reflect that ambition. Here’s a quick rundown of the major account options:

TD Checking

The bank offers three different types of checking accounts.

  • The Everyday Account has a $10.95 monthly fee, waived with a $3,000 monthly minimum balance. Customers get 25 free transactions per month.
  • The Unlimited Checking Account has a $14.95 monthly fee, waived with a $4,000 monthly minimum balance. Customers receive unlimited free transactions and $20 off of their credit card fee.
  • The All-Inclusive Checking Account costs $29.95 per month, waived with a $5,000 monthly minimum balance. Customers receive unlimited free transactions, ATM fees are waived and the annual credit card fee is rebated. There is no minimum balance required in order to open a TD Canada checking account.

TD Savings

TD Canada offers three different types of savings accounts.

  • The TD Every Day Savings Account includes no monthly account fee, unlimited free transfers and interest paid every day. The account also includes 1 free debt transaction per month.
  • The TD High-Interest Savings Account includes no monthly account fee, unlimited free transfers and a higher interest paid every day, if the account balance remains above $5,000. Transfers cost $5 or are free if the account maintains its $25,000 balance.
  • The TD Premium Savings Account includes no monthly account fee, unlimited free online transfers and a higher interest paid every day if the account balance remains above $10,000. There is a fee for $5 per transaction, no matter what the account balance.

Other types of accounts

TD Canada customers can also apply for:

  • branded credit, debit and gift cards
  • mortgages
  • loans
  • lines of credit
  • and a variety of savings and investment products.

 

How To Open An Account

Accounts of any kind can be opened online or at any local branch. To apply at a branch, potential customers need two forms of ID (driver’s license, passport, etc) as well as a Social Insurance Number for tax reporting purposes.

People wishing to apply online need to have the following information available:

  • TD Canada Trust Access Card number
  • The bank’s account number
  • Social Insurance number (optional)
  • and two forms of ID.