TD Bank Group review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
TD Bank Group suits expats, students and teens who want a bank licence rather than an e-money wallet, with free atm on the chequing side. The trade-off is cost: the Unlimited Chequing Account charges CAD 17.95 a month, well above the €0 everyday median.
Key facts
- Best for
- A bank licence with free atm and a no monthly fee savings account for everyday Canadian banking.
- Monthly fee
- CA$17.95↗
- Licence type
- Bank↗
- Deposit protection
- FDIC up to USD 250,000↗
- Currencies
- from 50↗
- Transfer fee
- No TD Transfer Fee when using Visa Direct to send funds from a TD Canada Trust personal chequing account to your linked U.S. TD Bank, America's Most Convenient Bank personal account, up to $2,500/day↗
- Legal entity
- TD Bank, National Association↗
- Headquarters
- United States↗
- Support channels
- Phone, Help-centre↗
- Audience
- Expats, Students, Teens
- Pricing model
- No monthly fee
- Features
- Free ATM withdrawals
- Official website
- td.com
Savings
Money transfer
- Fee to send 1,000
- CA$0↗
Facts checked September 26, 2026, 8 sources
Pros and cons
Pros
- Interest is calculated daily on the balance, and the savings account is easy access, so funds stay reachable.
- The savings account runs on a no monthly fee model with a minimum deposit of CAD 0.
- Deposits are covered by FDIC up to USD 250,000 under a bank licence, recorded as FDIC cert 18409.
- Support runs on phone and help centre, and global transfers carry a fee of CAD 0.
Cons
- The Unlimited Chequing Account charges CAD 17.95 a month, well above the €0 everyday median.
- Support runs on phone and help centre only, with no email or live chat for quicker answers.
- Savings pay a 0.01% variable rate, under the 3.25% median for everyday accounts.
Who it suits
- Expats splitting money between Canadian and US accounts, who can send funds by Visa Direct with no TD transfer fee.
- Students, teens and expats, the groups listed under expats, student and teen by the bank.
- Savers who want an easy access account paying interest daily without locking the balance away.
Who should look elsewhere
- Fee-free everyday banking: XTB charges €0 a month against CAD 17.95 here.
- Wallet-first users: Skrill charges €0 a month and suits sending money rather than holding a balance.
- Card-led accounts: AXI Card charges €0 a month, with no chequing account to pair it with.
Rates and card terms
The savings account pays a headline rate of 0.01% on a variable basis, with interest calculated daily on the balance instead of being paid at the end of a term. Because the rate is variable, the return follows the bank's published rates and can move up or down, so it suits savers who keep money on deposit and check the rate now and then.
How TD Bank Group compares
9.0 vs 8.7
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9.0 vs 8.7
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9.0 vs 8.7
9.0 vs 9.0A monthly fee of €0 beats CAD 17.95, which suits readers who mostly send money rather than hold a chequing balance.
9.0 vs 8.7
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Where TD Bank Group is available
- Available
- Canada, United States
- Licence in United States
- FDIC (FDIC cert 18409), checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
How much is the TD Bank Group Unlimited Chequing Account each month?+
The Unlimited Chequing Account charges a monthly fee of CAD 17.95, well above the €0 median for everyday accounts. The savings account is priced differently, running on a no monthly fee model, so what you pay depends on which product you open.
Is money held at TD Bank Group protected?+
The US banking entity is TD Bank, National Association, and deposits are covered by FDIC up to USD 250,000. The licence type is bank, and the FDIC record is FDIC cert 18409. The bank is headquartered in the US, so the cover comes from a US deposit scheme.
What interest rate do I get on savings?+
The savings account pays a headline rate of 0.01% at a variable rate, with interest calculated daily on the balance. Interest accrues on every dollar held, and the variable rate follows the bank's published rates rather than being locked for a term. Readers chasing more should weigh it against the 3.25% median for everyday accounts.
Is a minimum deposit needed to open the savings account?+
The minimum deposit is CAD 0, so the account can be opened with nothing held back. The savings account is an easy access product, which means frequent access to the balance rather than a fixed term, and interest is calculated daily on what sits there.
How do I get help if something goes wrong?+
Support runs on phone and help centre, which means phone and a help centre rather than email or live chat. For anything time sensitive the phone line is the faster route. Fee questions about the chequing account are worth raising early, since the monthly fee is CAD 17.95.
Can I move money between Canadian and US accounts cheaply?+
Sending funds by Visa Direct from a TD Canada Trust personal chequing account to a linked US TD Bank personal account carries no TD transfer fee, subject to a daily cap. Global transfers show a fee of CAD 0. The currency converter covers from 50 currencies, so a move across the border does not start from scratch.
Sources
- banks.data.fdic.gov/bankfind-suite/bankfind/details/18409 checked September 26, 2026
Backs: Deposit protection, Headquarters, Legal entity, Licence type, Licences
“CERT=18409; NAME=TD Bank, National Association; WEBADDR=www.td.com/us/en/personal-banking/; ACTIVE=1”
- td.com/ca/en/about-td checked September 26, 2026
Backs: Support channels
“Contact Us - Call us, Book an appointment, Give feedback ... Help”
- td.com/ca/en/personal-banking/products/bank-accounts/acco... checked September 26, 2026
Backs: Headline rate, Minimum deposit, Rate type
“TD Every Day Savings Account - Total Daily Closing Balance $0 to $999.99 Interest Rate 0.010% (rates are as of today)”
- td.com/ca/en/personal-banking/products/bank-accounts/cheq... checked September 26, 2026
Backs: Audience
“Banking For: Newcomers, Youth & Parents, Students, International Students, Post Grads, Indigenous Peoples”
- td.com/ca/en/personal-banking/products/bank-accounts/cheq... checked September 26, 2026
Backs: Features, Monthly fee
“No TD ATM fee to use any ATM in Canada - Use any ATM in Canada with no TD ATM fee”
- td.com/ca/en/personal-banking/products/bank-accounts/savi... checked September 26, 2026
Backs: Access terms, Account kind, Pricing model
“Ideal if you're starting to save or want frequent access to your funds”
- td.com/ca/en/personal-banking/products/bank-accounts/us-d... checked September 26, 2026
Backs: Transfer fee
“There is no TD Transfer Fee when using Visa Direct to send funds from your Canadian based personal bank account at TD Canada Trust to your U.S. based personal bank accounts with TD Bank, America's...”
- td.com/ca/en/personal-banking/solutions/exchange/currency... checked September 26, 2026
Backs: Currencies
“Use our currency converter to calculate 50+ currencies to assist you with your transactions.”
- td.com/ca/en/personal-banking/ways-to-bank/ways-to-send/i... checked September 26, 2026
Backs: Fee to send 1,000
“$0 TD transfer fees on money transfers”
Compiled from 9 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Currency conversion fee.
Related by the facts
TD Bank Group
A bank licence with free atm and a no monthly fee savings account for everyday Canadian banking.