How To Open a TD Bank Account

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For someone looking to open a new bank account, TD Bank may fit the bill. After all, it’s one of the 10 largest banks in the U.S., and it describes itself as “America’s Most Convenient Bank.”

The application process for opening TD Bank accounts is straightforward, and customers can set up an account within minutes. It requires filling out some basic pieces of personal information and choosing the account that best suits a person’s needs and budget.

Here’s a rundown of the options and a guide on how to open a TD Bank account.

Step-by-Step Guide: How to Open a TD Bank Account

It is easy to open a TD Bank account in person or online. However, when you decide to open your account, you will need to have basic information and documents to move forward. Here’s what to expect:

Online Account Opening Process

1. Choose Your Account: Head to the TD Bank website and browse their checking, savings or business account options. Each has different fees, perks, and balance requirements, so pick one that fits your lifestyle.
2. Click “Open an Account:” Once you’ve decided, select “Open Account” (or a similar button) to start your application. This will usually prompt you to create an online banking profile if you’re new to TD.
3. Enter Personal Details: You’ll need to provide information like your full name, address, phone number, Social Security number and a valid email. Be ready to verify your identity with a driver’s license, passport or other government-issued ID.
4. Fund Your Account: TD Bank may require a minimum deposit (often as low as $0 to $50, depending on the account). You can fund via debit card, transferring from another bank or using an existing TD account.
5. Review & Submit: Double-check all details. Once you confirm, your new TD Bank account is set up. Typically, you’ll receive a welcome email with further instructions, like how to order checks or enroll in direct deposit.

Note: You can start your online application for many accounts directly at TD Bank’s online portal.

In-Branch Account Opening Process

1. Locate a Branch: Use the TD Bank branch locator or the app to find a nearby location. TD Bank has extended hours in many places, and some branches are open on weekends.
2. Bring Documentation: Have your photo ID, Social Security number and proof of address (like a utility bill) on hand. If you plan to open a business account, also bring relevant business documents (like your EIN or state registration).
3. Fill Out the Application: A TD representative will walk you through the paperwork or digital forms. You’ll specify which type of checking or savings account you want.
4. Make Your Initial Deposit: Hand over cash or a check, or authorize a transfer from another bank. Many accounts have no minimum deposit requirement, but some do. Confirm with the banker.
5. Get Your Welcome Materials: The bank rep will confirm your new account, provide you with a temporary debit card (in some cases), or advise on how to order your permanent one. You can also sign up for online banking at this time if you haven’t already.

In-person visits can be helpful if you have questions about fees, features, or if you want to open multiple accounts simultaneously.

Documents Required To Open an Account

To save time, ensure you have:

• Photo ID: Driver’s license, state ID or passport.
• Social Security Number (SSN): For identification and tax-reporting.
• Proof of Address: A recent utility bill or lease might be necessary if your ID address is outdated.
• Business Documents (for business accounts): EIN, articles of organization or other relevant paperwork.

If you’re missing any document, the account opening may be delayed or you might need a second branch visit.

Understanding TD Bank Account Options

You have several options for personal checking accounts, savings accounts, CDs and business accounts. Let’s take a look at the different options:

Personal Checking Accounts

• TD Complete Checking – TD Complete Checking requires no minimum deposit and a $15 monthly fee. The fee is waived if you have $500 or more in direct deposits during a statement cycle, maintain a minimum daily balance of $500 or have at least $5,000 across all linked deposit products at TD Bank.
• TD Beyond Checking – TD Beyond Checking has no minimum deposit requirement and a higher $25 monthly fee, but similarly, this is waived if direct deposits are made within a statement cycle, the account has a balance in surplus of $2,500 or a customer has more than $25,000 across multiple TD accounts. Added benefits include no fees at any ATM and overdraft fee reimbursements. 
• TD Essential Checking – TD Essential Banking has no minimum deposit requirement and a monthly fee of $4.95. The fee is waived for account holders between the ages of 13 and 17. One major benefit of this account, however, is its Zelle integration.

Savings Accounts

TD Bank has two savings accounts: TD Simple Savings and TD Signature Savings.

• Both accounts have a monthly fee. But each offers several ways to have the monthly maintenance fee waived. For example, the TD Simple Savings account is free for ages 18 and under or 62 and older. The TD Signature Savings account offers up to 3.51% APY (APYs may change based on where you live) on your balance. If you qualify for the rate, this can help you grow your funds for the long term.

Certificates of Deposits (CDs)

TD Bank offers CDs ranging from three months to five years. APYs range from 3% to 4%. These APYs are conditioned based on having another account at TD Bank. Early penalty withdrawals apply.

Business Accounts

• TD Business Simple Checking: This account is designed for small businesses with no minimum monthly balance required. There is a $10 monthly maintenance fee.  
• TD Business Convenience Checking Plus: This account is suitable for a growing business. There is a $25 monthly maintenance fee, which can be waived by maintaining a $1,500 minimum daily balance.
• TD Business Premier Checking: This account is more for businesses with multiple transactions. There is a $30 monthly maintenance fee, waivable with a $40,000 combined balance across eligible TD accounts.
• TD Business Savings: There is a $25 minimum monthly deposit. This account requires a $5 monthly maintenance fee, which can be waived by maintaining a $500 minimum daily balance.
• TD Small Business Premium Money Market: There is a $15 monthly maintenance fee, waivable with a $2,500 minimum daily balance. A tiered interest rate applies and is dependent on your account balances.

TD Bank Account Fees and Minimum Balance Requirements

TD Bank accounts have account fees associated with their accounts. Let’s take a look at what those are: 

Monthly Maintenance Fees

• Personal Checking: $0 to $15, depending on the account. Fees can often be waived if you meet balance or direct deposit criteria.
• Savings: $0 to $15, again waived if you maintain a certain daily balance or link to a TD checking account.
• Business Accounts: $0 to $30 for monthly fees, typically waived if you meet transaction or balance thresholds.

Always see your account’s fee schedule for specifics. If you want to skip fees, set up a direct deposit or keep enough in your account to meet minimum requirements.

Minimum Deposit Requirements

• Checking: Many TD Bank checking accounts let you start with $0. Some premium accounts (like TD Beyond Checking) don’t necessarily require a deposit at opening, but you’ll need to meet certain thresholds to avoid fees.
• Savings: Some require as little as $0 to $100 to open. Watch for monthly balances needed to waive fees.
• CDs: Typically around $250 to $1,000, but promotional CDs can vary.

Overdraft Fees & Other Costs

• Overdraft fees can reach around $35 per occurrence, though TD Bank may cap how many times they’ll charge you in a single day.
• If you link a savings account for overdraft protection, TD might either waive or discount these fees.
• Other common fees: wire transfers, stop payments and official checks. Some accounts waive these if they’re premium tiers.

How to Fund Your New TD Bank Account

There are several ways to fund your TD Bank account. Here are ways you can do so: 

• Transfer from another bank: You can do an external transfer from another bank account to fund your new TD checking or savings account. 
• Deposit via check or cash: If you have a check, you can endorse it by putting your new TD account number on the check with your signature. You can also deposit cash. Cash deposits will have to be done in person if you’re trying to open a new account. 
• Set up direct deposit: TD Bank account will accept a direct deposit to fund your new checking or savings account. 

Benefits of Opening a TD Bank Account

TD Bank offers a wide variety of account options. You can choose from three checking account options, two savings account options, CDs, business accounts, as well as a money market account. 

TD Bank has an online banking platform and a mobile app so you can access your account 24/7. The app is rated 4.8 out of 5 stars on the Apple Store and 4.0 out of 5 stars on Google Play.

There are over 1,200 TD Bank branches across the United States and access to several ATMs.

Getting the Most Out of Your TD Bank Account

Using TD Bank rewards programs: You can sign up for a TD Cash Credit card to earn unlimited cash back on purchases, with customizable categories to maximize rewards. In addition, you can accumulate TD reward points on eligible purchases with select TD credit cards, redeemable for travel, merchandise, gift cards, or as a statement credit.

Taking advantage of online tools and resources: You can manage your accounts, make transfers and check balances from the convenience of your home with your computer or app. TD Spend is an app that also allows you to track your spending to work toward a financial budget. 

Setting up automatic savings: You can schedule automatic transfers to your savings account or automatically direct a portion of your paycheck to your savings or checking account.

More About TD Bank

• TD Bank Review
• TD Bank CD Rates
• TD Bank Savings Account Interest Rates
• TD Bank Hours
• TD Bank Routing Numbers

Final Take to Go

Opening a TD Bank account can be a breeze if you know what account suits you, have the right documents in hand, and understand the fee structure. Whether you’re after a simple checking account or a top-tier savings product, TD Bank offers flexible options, extended hours and a user-friendly mobile platform. Compare your choices, gather your documents, and head to TD Bank’s website or your nearest branch to set up your new account with ease.

Check out direct deposit or automatic transfers to optimize your day-to-day banking — then relax knowing you’ve picked a bank that fits your busy life.

Information is accurate as of March 7, 2025.

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

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