The TD All-Inclusive Banking Plan is a premium chequing account offering unlimited transactions and a suite of bundled benefits for a monthly fee. This plan is designed for Canadians who conduct a high volume of banking and can maintain a minimum balance to have the fee waived. Its value lies in the inclusion of services like free Interac e-Transfers, annual credit card fee rebates, and no TD fees at non-TD ATMs worldwide. Understanding the plan's structure, costs, and eligibility is crucial for determining if it aligns with your personal banking habits and financial situation.
Plan Structure and Monthly Costs
The TD All-Inclusive Banking Plan operates on a monthly fee structure. The standard monthly fee for this plan is $30.95. For customers who are seniors aged 60 years or older, a reduced monthly fee of $22.45 applies. This monthly fee can be completely waived if the account holder maintains a minimum monthly balance. The required minimum balance to qualify for the monthly fee rebate is $6,000. This minimum balance must be maintained in the account at the end of each day throughout the month. If the balance dips below $6,000 at any point, the full monthly fee will be charged. The plan fee was increased from $29.95 to $30.95, reflecting a change that also saw the minimum balance requirement rise from $5,000 to $6,000. This structure makes the plan most cost-effective for individuals who naturally keep larger sums in their chequing account.
Core Banking Features and Transaction Allowances
The plan provides unlimited banking transactions each month, which forms its foundational value. There are no per-transaction fees for standard banking activities such as debit purchases, bill payments, or transfers between linked TD accounts. A significant feature is the inclusion of unlimited free Interac e-Transfers for sending or requesting money. The plan also removes TD fees for using non-TD automated banking machines, both within Canada and at foreign ATMs worldwide. It is important to note that while TD does not charge a fee for using another bank's ATM, the other financial institution or ATM operator may still impose a charge. The plan includes standard chequing account services like mobile cheque deposit through the TD app, direct deposit setup for paycheques and CRA refunds, and access to online and mobile banking platforms including EasyWeb. Customers can also use TD MySpend, a feature paired with the TD app, to track monthly spending and help improve spending habits. The plan supports automated savings features that can help grow savings every time the TD Access Card is used.
Premium Perks and Included Benefits
Beyond unlimited transactions, the TD All-Inclusive Banking Plan bundles several premium benefits at no extra cost. One of the most notable is the annual fee rebate on select TD credit cards. Account holders are eligible for a rebate on the annual fee of one eligible TD credit card per calendar year. The rebate amount is up to $139 and applies to cards including the TD Aeroplan Visa Infinite Card, TD Aeroplan Visa Platinum Card, TD Aeroplan Visa Infinite Privilege Card, TD First Class Travel Visa Infinite Card, TD Platinum Travel Visa Card, and TD Cash Back Visa Infinite Card. Other physical perks include a small safety deposit box at a TD branch and a supply of personalized cheques, both provided without additional charges. The plan also includes free money orders and certified cheques. Account holders gain access to TD Fraud Alerts, which can block and unblock suspicious debit card transactions in real time. Additional digital benefits include EasyWeb View Cheque service, paperless record keeping or online statements, and the ability to link an eligible TD Access Card with Visa Debit to a Starbucks Rewards account to earn 0.5 Bonus Stars for every $1 spent at participating Starbucks stores, subject to conditions.
Eligibility and How to Apply
To open a TD All-Inclusive Banking Plan, you must meet standard account opening criteria which include being a Canadian resident and of the age of majority in your province. The plan is available to new customers who do not have an existing TD chequing account, as well as to existing TD customers looking to upgrade. There are three primary ways to apply for the account. You can complete an online application on the TD website, which is advertised as taking approximately five minutes. You can also visit any TD branch in person to meet with a banking specialist who can assist with the application process. Alternatively, you can contact TD's customer service desk by phone to begin the application. The account comes with standard deposit insurance protection from the Canada Deposit Insurance Corporation for eligible deposits up to $100,000. For promotional purposes, being considered a new TD Chequing customer requires that you not have an existing TD Chequing account at the time of application, which is a condition for some limited-time offers associated with the plan.
Promotional Offers and Cash Bonuses
TD periodically offers promotional incentives for opening a TD All-Inclusive Banking Plan. These are often limited-time offers with specific conditions that must be met. A common promotion is a cash bonus for new customers, which can be as high as $700 in value. To qualify for such offers, applicants typically must be new TD chequing customers, meaning they do not have an existing TD chequing account at the time of application. The promotional value is often contingent on completing certain tasks, such as setting up direct deposit or maintaining a minimum balance for a specified period. It is crucial to review the specific conditions that apply to any promotion at the time of application, as they can change. These offers can significantly enhance the initial value of the account but do not alter the ongoing fee structure or minimum balance requirements. Customers should also be aware that promotional cash bonuses may have tax implications, as they are generally considered taxable income.
Comparing TD's Chequing Account Options
TD offers a range of chequing accounts, and the All-Inclusive Plan sits at the premium end of the spectrum. It is useful to compare it against other TD plans to understand its positioning. The TD Unlimited Chequing Account is a mid-tier option that also offers unlimited transactions but with a lower monthly fee and a lower minimum balance requirement to waive that fee. The TD Minimum Chequing Account is a budget-friendly option for everyday banking with a low monthly fee and a small number of included transactions. TD also offers a U.S. Dollar Chequing Account for convenient U.S. currency banking with no monthly fee. For specific demographics, TD provides a Student Chequing Account with no monthly fee and a Seniors Chequing Account which offers a rebate for those aged 60 or older receiving the Guaranteed Income Supplement. The All-Inclusive plan is distinct in its bundling of premium perks like the credit card rebate and safety deposit box, which are not included in other TD chequing accounts.
TD Bank offers several chequing account plans to cater to different needs. The TD All-Inclusive Banking Plan is a premium chequing account with a monthly fee of $30.95. This fee can be waived if you maintain a minimum monthly balance of $6,000 in your account. TD also offers a student chequing account with no monthly fee. Furthermore, a seniors' chequing account rebate is available for those aged 60 years or older and collecting the Guaranteed Income Supplement.
| Account Plan | Monthly Fee | Minimum Balance to Waive Fee | Key Feature |
|---|---|---|---|
| TD All-Inclusive Banking Plan | $30.95 ($22.45 Seniors) | $6,000 | Unlimited transactions, credit card rebate, global ATM access |
| TD Student Chequing Account | No monthly fee | Not applicable | Designed for youth and students |
| TD U.S. Dollar Chequing Account | No monthly fee | Not applicable | Simplify U.S. dollar banking |
Common Considerations and Potential Drawbacks
While the TD All-Inclusive Banking Plan offers extensive benefits, it is not the ideal choice for every Canadian. The primary consideration is the cost. Maintaining the $6,000 minimum balance to avoid the fee represents an opportunity cost, as those funds could potentially be invested elsewhere. The plan delivers the most value to customers who would otherwise pay for the included services individually, such as a credit card annual fee, safety deposit box rental, and frequent non-TD ATM withdrawals. Customers with minimal transaction needs or who cannot consistently maintain the $6,000 balance may find the plan unnecessarily expensive. It is also important to remember that the waiver of TD fees at non-TD ATMs does not protect against fees charged by the other bank or ATM operator. Finally, the plan is a product of a major brick-and-mortar bank, and part of the fee supports the physical branch network and associated overhead costs like staffing and office supplies, which digital banks do not have.
Key Rules for Maintaining Account Benefits
To fully benefit from the TD All-Inclusive Banking Plan, customers must adhere to specific rules governing the account features. The monthly fee waiver is contingent on maintaining a $6,000 minimum balance at the end of each day in the month, not an average balance. The annual credit card fee rebate is available on only one eligible TD credit card per calendar year, and the rebate applies to the annual fee for the primary cardholder. The rebate amount will not exceed the annual fee charged and is capped at $139. The unlimited transactions include all standard banking transactions but customers should consult the About our Accounts and Related Services document for a complete list of potential service fees that might still apply. The included small safety deposit box and personalized cheques are provided as a standard benefit of the plan but may be subject to availability at your local branch. To earn the Starbucks Bonus Stars promotion, you must actively link your eligible TD Access Card with Visa Debit to your Starbucks Rewards account, and the offer is subject to specific conditions that apply. The plan also provides coverage against temporary cash shortages, which is a form of overdraft protection, though the specific terms and limits for this feature should be confirmed directly with TD.
- The $6,000 minimum balance must be maintained daily, not monthly.
- The credit card fee rebate is limited to one card per calendar year.
- The rebate maximum is $139 and covers the primary cardholder's fee.
- Unlimited transactions cover standard debit, bill payment, and transfer activities.
- Non-TD ATM fee waiver applies only to TD's fee, not other operators' fees.
- Promotional offers like cash bonuses require being a new TD chequing customer.
- Senior pricing ($22.45) applies to customers aged 60 and older.
Frequently asked questions
How can I avoid the monthly fee on the TD All-Inclusive Plan?
You can avoid the $30.95 monthly fee by maintaining a minimum balance of $6,000 in your account at the end of every day throughout the month. If your balance falls below this amount at any time, the full monthly fee will be charged. Senior customers aged 60 and older pay a reduced monthly fee of $22.45, which can also be waived by meeting the same $6,000 minimum balance requirement. The fee is waived automatically by the system when the daily balance condition is met. No manual request is needed.
Which TD credit cards qualify for the annual fee rebate?
The annual fee rebate applies to one eligible TD credit card per calendar year. Eligible cards include the TD Aeroplan Visa Infinite Card, TD Aeroplan Visa Platinum Card, TD Aeroplan Visa Infinite Privilege Card, TD First Class Travel Visa Infinite Card, TD Platinum Travel Visa Card, and TD Cash Back Visa Infinite Card. The rebate amount is up to $139, which covers the annual fee for the primary cardholder. The rebate is applied automatically, and customers do not need to apply for it separately each year.
Are ATM withdrawals truly free with this plan?
The plan removes all TD fees for using non-TD automated banking machines in Canada and at foreign ATMs worldwide. This means TD will not charge you an access fee. However, the owner or operator of the non-TD ATM may still charge you a fee for using their machine, which TD does not cover. This benefit applies to withdrawals at any ATM in Canada and at foreign ATMs in any other country, making it highly valuable for frequent travellers.
What happens if I don't maintain the $6,000 minimum balance?
If your account balance falls below $6,000 at the end of any day in a monthly cycle, you will be charged the full monthly plan fee for that month. For most customers, this fee is $30.95. The fee is charged regardless of how many days the balance was below the threshold, so maintaining the minimum daily balance is crucial to avoiding the charge entirely. There is no partial fee for partial compliance. The entire monthly fee is assessed if the condition is not met every day.
Can I open this account if I already have another TD chequing account?
Yes, existing TD customers can apply to open an All-Inclusive Banking Plan. However, promotional offers, such as cash bonuses for new accounts, often require that you be a new TD chequing customer, which means not having an existing TD chequing account at the time of application. Standard account opening criteria still apply for existing customers upgrading to the premium plan. The account can be opened online, by phone, or in a branch regardless of your existing TD relationship.
What other perks are included besides the credit card rebate?
The plan includes a small safety deposit box at no extra cost. It also provides personalized cheques and free money orders. Customers receive free Interac e-Transfers and unlimited transactions. Furthermore, the plan offers TD Fraud Alerts and the EasyWeb View Cheque service.
Sources and further reading
- Open the TD All-Inclusive Bank Account Plan Online td.com
- TD All Inclusive vs BMO Premium | Blog, Keep trykeep.com
- Compare the Best TD Chequing Accounts in Canada ratehub.ca
- TD All-Inclusive Banking Plan Review, Chequing Accounts finder.com
This article explains how things work and is not financial, tax or legal advice. Rules, limits and rates change, so check the current figures with the Canada Revenue Agency, your province or your financial institution before you act.