TD Canada Trust markets itself as "America's Most Convenient Bank" in the US and has long been known in Canada for extended banking hours and customer-friendly service. As one of the Big 5 Canadian banks, TD serves over 14 million customers across the country. This review examines what you actually get for your money at TD in 2025 — and whether TD's convenience premium is worth paying.
TD Bank Group was formed through the 1955 merger of the Bank of Toronto and the Dominion Bank. Today, TD operates over 1,100 branches and roughly 3,500 ATMs in Canada. TD is also one of the few Canadian banks with a major US presence, making it a solid option for Canadians who frequently cross the border or hold US-denominated accounts.
At $3.95/month (waived with a $2,000 minimum balance), this is TD's most affordable chequing option. It includes 12 transactions per month with a $1.25 fee per additional transaction. Good for occasional banking but limiting for daily use.
Priced at $10.95/month (waived at $3,000 minimum balance), this account includes 25 transactions per month and one free Interac e-Transfer per month. A reasonable middle-ground for moderate banking activity.
At $16.95/month (waived at $4,000 minimum balance), this account delivers unlimited transactions and unlimited Interac e-Transfers. This is TD's most popular account for active banking users who want to avoid per-transaction fees.
TD's premium offering runs $29.95/month with no minimum balance waiver option. It bundles unlimited banking, overdraft protection, a safety deposit box discount, and fee rebates on certain TD credit cards. For clients who use all bundled benefits, this can represent reasonable value.
Free for students enrolled full-time in post-secondary education. Includes 25 monthly transactions and one e-Transfer. Converts to a standard account upon graduation.
TD's standard savings interest rates are not competitive with online-only banks. The TD High Interest Savings Account earns roughly 1% to 2% in standard conditions. TD runs promotional rates for new deposits, sometimes reaching 4-5%, but these promotions typically expire after a few months and the rate drops significantly.
For serious savings growth, Canadians are better served by keeping savings at EQ Bank, Oaken Financial, or Tangerine, where rates are consistently higher without requiring promotional sign-ups.
TD offers a full range of mortgage products including fixed, variable, and adjustable-rate mortgages. TD's rates are competitive within the Big 5 but generally not as low as monoline lenders or brokers. One distinct advantage: TD allows you to port your mortgage if you move, and their prepayment privileges (up to 100% annual lump sum payments in some cases) are among the better options at a major bank.
TD also offers a TD Home Equity FlexLine, which combines a mortgage and line of credit in one product, letting you borrow against paid-down equity as you go. This can be very useful for renovation financing or managing large expenses over time.
TD's credit card portfolio is one of the strongest among Canadian banks. The TD First Class Travel Visa Infinite card is a perennial top pick for travel rewards, offering strong earn rates on everyday spending and access to the TD Rewards program. The TD Cash Back Visa Infinite card is consistently one of the top cashback cards in Canada, with 3% back on groceries and gas.
TD also partners with Amazon to offer the Amazon.ca Rewards Visa Card, which earns accelerated points on Amazon and Whole Foods purchases — popular with frequent online shoppers.
One area where TD genuinely stands out is cross-border banking. TD operates over 1,100 US branches and roughly 2,600 US ATMs, making it easy for Canadians to access banking services while travelling in the US or for those with US-dollar income. TD's US Dollar Daily Interest Chequing account allows Canadians to hold USD and avoid constant currency conversion fees.
TD's mobile app has improved considerably in recent years. It supports mobile cheque deposit, e-Transfers, bill payments, investment management, and a financial planning tool called TD MySpend that tracks spending categories automatically. The app is stable and well-reviewed, though some users find RBC's NOMI tool slightly more sophisticated for financial insights.
TD is an excellent choice for Canadians who frequently need in-branch service outside traditional banking hours, those who travel to the US regularly, and anyone who values TD's strong credit card rewards programs. TD is also worth considering if you're a homeowner who wants a flexible mortgage product like the Home Equity FlexLine.
If minimizing fees is the priority, TD's monthly costs are similar to other Big 5 banks. Pairing a no-fee digital banking account with TD for mortgages or investing gives you the best of both worlds.
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Open KOHO Free — No Fees — Code 45ET55JSYATD earns a 3.5 out of 5. Its extended hours, strong credit card portfolio, and US banking access are genuine differentiators. But like all Big 5 banks, TD charges substantial monthly fees that are hard to justify when no-fee digital alternatives exist. TD is a strong bank for those who will actively use its distinctive features — particularly US banking and travel rewards. For everyday Canadian banking on a budget, you can do better.