The TD Everyday Chequing Account is a personal banking account offering 25 transactions per month with a monthly fee of $11.95. This fee can be waived by maintaining a daily balance of $3,000 or more, and a reduced fee of $8.20 applies for customers aged 60 and older. The account is designed for basic, everyday spending and includes free Interac e-Transfer transactions. Understanding its structure and fee waiver conditions is important for Canadians managing their routine banking costs.
Account Features and Monthly Fee Structure
The TD Everyday Chequing Account is positioned as a budget-friendly option for basic banking needs. It provides customers with 25 transactions per month, which includes debit purchases, bill payments, cheque withdrawals, and transfers between accounts. A notable feature is the inclusion of unlimited public transit transactions, which are not counted against the monthly transaction limit. The standard monthly fee for this account is $11.95 as of 2026. This fee is charged unless a specific minimum daily balance condition is met throughout the entire statement period. The account also comes with a debit card that can be added to a digital wallet, and it supports services like mobile cheque deposit through the TD Canada app. Unlike some other TD accounts, the Everyday Chequing Account does not typically earn interest on deposited funds.
TD offers several other personal chequing accounts with different fee and feature structures. The TD Minimum Chequing Account has a lower monthly fee and includes only 12 transactions per month. The TD Unlimited Chequing Account charges $17.95 per month but offers unlimited transactions and a higher balance requirement for a fee waiver. The premium TD All Inclusive Banking Plan has a $30.95 monthly fee and includes unlimited transactions along with additional benefits like an annual fee rebate on select TD credit cards. For students and youth under 23 or in full-time post-secondary education, the TD Student Chequing Account has no monthly fee and offers unlimited transactions.
Starting July 1, 2025, TD Bank increased its monthly account fees for several accounts, though the notes specify the Everyday Chequing Account fee remained at $11.95 for 2026. The minimum monthly balance to waive the fee on the TD All-Inclusive Banking Plan increased from $5,000 to $6,000 at that time. It is important for customers to check the most current fee schedules directly with TD, as these can change. Promotional offers, such as a cash bonus of up to $700 for opening a TD Unlimited Chequing Account or TD All Inclusive Banking Plan, are also subject to specific conditions and may be available for a limited time.
How to Waive the Monthly Account Fee
The monthly fee for the TD Everyday Chequing Account can be avoided by maintaining a minimum daily closing balance of $3,000 or more. This balance must be sustained every single day of the statement month. If the balance falls below this threshold on any day, the full $11.95 fee for that month will be charged. This strict daily calculation means account holders should maintain a buffer above $3,000 to account for automatic payments or unexpected withdrawals. For customers aged 60 years and older, TD offers a reduced monthly fee of $8.20 for the same account, though this discounted rate is not contingent on maintaining the $3,000 minimum balance.
Other TD accounts have different waiver thresholds. The TD Unlimited Chequing Account requires a $4,000 minimum daily balance to waive its $17.95 fee. The TD All Inclusive Banking Plan requires a $6,000 minimum daily balance to waive its $30.95 fee. It is important to note that maintaining a minimum balance is the primary method to waive fees for these three account types. TD does not offer fee waivers based on having a payroll direct deposit or a minimum number of transactions for these specific plans. The TD Minimum Chequing Account has no fee waiver option through a minimum balance, but it may be free for recipients of the Guaranteed Income Supplement or beneficiaries of a Registered Disability Savings Plan.
- The TD Everyday Chequing Account fee is waived with a $3,000 daily balance.
- The TD Unlimited Chequing Account fee is waived with a $4,000 daily balance.
- The TD All Inclusive Banking Plan fee is waived with a $6,000 daily balance.
- Seniors aged 60+ pay a reduced fee of $8.20 for the Everyday Chequing Account.
- The TD Student Chequing Account has no monthly fee for eligible students and youth.
- The TD Minimum Chequing Account has no fee waiver via minimum balance.
- Recipients of the Guaranteed Income Supplement may qualify for a no-fee Minimum Chequing Account.
- Newcomers to Canada may receive a first-year fee waiver on certain accounts through the New to Canada Banking Package.
TD Bank provides promotional cash bonuses for specific chequing accounts. Opening a TD Unlimited Chequing Account or a TD All Inclusive Banking Plan can yield a cash bonus of up to $700 by completing certain tasks. Both of these premium accounts also offer an annual fee rebate on select TD credit cards, with the rebate value reaching up to $139. These promotional offers deliver extra value but require customers to meet specific application and funding conditions within a defined period.
Transaction Limits and Overage Charges
Each TD chequing account includes a set number of free transactions per month, beyond which additional fees apply. For the TD Everyday Chequing Account, the limit is 25 transactions. Once this limit is exceeded, each additional transaction costs $1.25. Transactions counted include debit card purchases, bill payments, cheques written, withdrawals at ATMs or tellers, and transfers between accounts at TD. It is crucial to note that Interac e-Transfers are included for free and do not count against the transaction limit. Similarly, unlimited public transit transactions are also provided without counting towards the limit. The TD Minimum Chequing Account allows only 12 transactions per month, including up to two full-serve transactions, with the same $1.25 overage fee applying.
TD Bank offers several personal chequing account plans designed for different transaction volumes. The TD Every Day Chequing Account provides 25 transactions per month. The TD Minimum Chequing Account offers 12 transactions per month, including up to two full-serve transactions. Premium accounts like the TD Unlimited Chequing Account and the TD All Inclusive Banking Plan provide unlimited transactions. Each account type has its own fee structure and conditions for waiving the monthly fee.
| Account Type | Monthly Transactions Included |
|---|---|
| TD Minimum Chequing | 12 |
| TD Everyday Chequing | 25 |
| TD Unlimited Chequing | Unlimited |
| TD All Inclusive Banking | Unlimited |
| TD Student Chequing | Unlimited |
For accounts with limits, monitoring transaction volume is key to avoiding extra charges. Pre-authorized payments, such as for subscriptions or loans, each count as one transaction. Using a debit card frequently for small purchases can quickly use up the monthly allowance on the Everyday or Minimum accounts. The TD Everyday Chequing Account's 25 transactions may be sufficient for individuals who use credit cards for most purchases and only use their chequing account for a limited number of bill payments and cash withdrawals. Understanding what constitutes a transaction helps in selecting the right account type and managing monthly banking activity to stay within the included limit.
Eligibility and How to Open an Account
To open a TD Everyday Chequing Account, you must be a resident of Canada and meet standard identification requirements. The primary applicant must be of the age of majority in their province or territory. TD requires valid government-issued photo identification, such as a Canadian driver's licence or passport, to verify your identity during the application process. You will also need to provide a valid email address and may be asked for employer information. There is no minimum deposit required to open the account, so you can start with any amount. The account is designed for personal use, and TD recommends not using the same chequing account for both personal and business expenses.
You can open the account either online through the TD website or in person at any TD branch across Canada. The online process typically takes less than five minutes to complete if you have all the necessary information ready. For newcomers to Canada, TD offers a specific New to Canada Banking Package that includes benefits like the TD Unlimited Chequing account as a starting point. Indigenous Peoples from Canada and recipients of the Guaranteed Income Supplement or beneficiaries of a Registered Disability Savings Plan may qualify for the no-fee TD Minimum Chequing Account. The TD Student Chequing Account has no monthly fee for students and youth, which includes those under 23 years old or with proof of enrollment in full-time post-secondary education. This account also includes no monthly fee for the Monthly Plan Overdraft Protection service for eligible clients.
Additional Fees and Service Charges
Beyond monthly account fees and transaction overages, TD charges for various specific banking services. Even premium accounts like the TD All Inclusive Banking Plan do not waive fees charged by other ATM operators. Ordering chequebooks may involve a fee depending on your account type, though some accounts include free cheques. Overdraft protection is an optional service that carries its own fees if used, including interest on the overdrawn amount and possible monthly plan fees. The TD Student Chequing Account includes no monthly fee for Monthly Plan Overdraft Protection service.
TD follows industry standards for security and is a member of the Canada Deposit Insurance Corporation. This means deposits across all your TD accounts are collectively insured up to $100,000. The bank also offers a security guarantee, stating they will reimburse you if you lose money due to unauthorized access to your account through TD online or mobile services. It is important to review the complete fee schedule in TD's About Our Accounts and Related Services document for a full list of all potential charges. Services like stop payments on cheques, certified cheques, money orders, and wire transfers all carry separate fees that are not included in the standard monthly account fee. These ancillary charges can significantly impact the total cost of banking if these services are used regularly.
Common Mistakes and Considerations
A common mistake is misunderstanding the minimum balance requirement for fee waivers. The requirement is based on the daily closing balance, not the monthly average. If your balance dips below the threshold just once, you incur the full monthly fee. For the Everyday Chequing Account, this means vigilantly keeping the balance at or above $3,000 every day. Another frequent error is underestimating monthly transaction volume. Individuals who use their debit card for most daily purchases may easily exceed 25 transactions, triggering $1.25 charges for each extra transaction, which can add up quickly. Choosing an account based solely on a promotional cash bonus without considering the ongoing monthly fee is another potential pitfall.
While TD may offer cash bonuses for opening accounts like the TD Unlimited Chequing Account, the associated monthly fee of $17.95 will erode that bonus value over time if you cannot meet the waiver conditions. Furthermore, using a personal chequing account for business expenses is not recommended by TD, as it can complicate accounting and may not provide appropriate features for business needs. Always assess your typical banking activity, including how often you use ATMs and whether you can maintain a minimum balance, before selecting an account. It is also worth comparing TD's offerings to no-fee chequing accounts from online financial institutions, which may offer unlimited transactions without monthly fees but lack a physical branch network. For individuals who value in-person service and a wide ATM network, the TD Everyday Chequing Account could be a suitable choice if the fee waiver conditions align with their financial habits.
Comparing TD Accounts and Alternatives
When deciding on a chequing account, it is useful to compare the TD Everyday Chequing Account to other TD plans and to accounts from other institutions. The TD Everyday account sits between the limited Minimum account and the unlimited premium accounts. For someone who makes roughly 25 transactions monthly and can maintain a $3,000 balance, it can be a cost-effective choice within the TD ecosystem. However, if you frequently exceed 25 transactions, the overage fees could make the TD Unlimited Chequing Account more economical, especially if you can meet its $4,000 balance requirement. The TD All Inclusive Banking Plan offers the most benefits, including an annual fee rebate on a select TD credit card, but its $6,000 balance requirement is significant.
Compared to other major Canadian banks, TD's fees are competitive. For example, many banks offer similar mid-tier accounts with monthly fees in the $10.95 to $16.95 range and balance requirements between $3,000 and $5,000 for fee waivers. A key differentiator for TD is its extensive branch and ATM network across Canada. For Canadians who value in-person service, this can be a major advantage. However, online banks and credit unions often provide no-fee chequing accounts with unlimited transactions and free Interac e-Transfers, which can result in lower overall banking costs for those comfortable with digital-only banking. The best account choice depends on an individual's balance, transaction patterns, and preference for physical access to banking services. Reviewing your own banking habits against the specific features, fees, and waiver conditions of each account is the most reliable way to make an informed decision.
Frequently asked questions
How many free transactions do I get with the TD Everyday Chequing Account?
The TD Everyday Chequing Account includes 25 transactions per month. These transactions encompass debit purchases, bill payments, cheque withdrawals, and transfers. Once you exceed 25 transactions, each additional transaction costs $1.25. The account also provides unlimited free Interac e-Transfers and unlimited public transit transactions, which do not count toward your monthly limit.
What is the monthly fee for the TD Everyday Chequing Account?
The monthly fee for the TD Everyday Chequing Account is $11.95. This fee can be waived by maintaining a minimum daily balance of $3,000 or more throughout the month. Customers aged 60 and over qualify for a reduced monthly fee of $8.20. This account is described as a budget friendly option for basic everyday spending.
Can I open a TD Everyday Chequing Account online?
Yes, you can open a TD Everyday Chequing Account online. The online application process takes less than five minutes. You will need a valid email address, employer information, and valid identification such as a Canadian driver's licence or passport. Alternatively, you can also open an account by visiting a local TD branch in person.
Is there a minimum balance to open the account?
No, there is no minimum balance required to open a TD Everyday Chequing Account. You can open the account with any amount of money. However, to avoid the monthly fee, you must maintain a minimum daily balance of $3,000 or more. This balance must be kept every day of the statement period to qualify for the waiver.
What are the ways to waive the monthly fee for the TD Every Day Chequing Account?
The monthly fee for the TD Every Day Chequing Account can be waived by maintaining a minimum daily closing balance of $3000 or more throughout the entire month. Additionally, customers aged 60 years or older are eligible for a reduced monthly fee of $8.20. It is important to note that the balance must stay at or above the threshold every single day of the statement period to avoid the full $11.95 charge. If the balance dips below even once, the fee will apply.
What is the overage fee if I exceed my monthly transaction limit on the TD Every Day Chequing Account?
If you exceed the 25 included monthly transactions on the TD Every Day Chequing Account, you will be charged $1.25 for each additional transaction. The account includes 25 free transactions per month plus unlimited public transit transactions. This overage fee applies to most account activities like debit purchases and bill payments. To avoid these fees, you can monitor your usage or consider an account with unlimited transactions if you consistently go over the limit.
Sources and further reading
- Chequing Account | Open an Account Online td.com
- TD Every Day Chequing Account Review finder.com
- Compare the Best TD Chequing Accounts in Canada ratehub.ca
- TD Chequing Account Fees 2026: Rates, Waivers, Limits ratesopedia.com
- Best Chequing Accounts in Canada for 2026 nerdwallet.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.