TD Business Banking Review 2026 — Is TD Worth It for Small Business?

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TD Business Account Plans — 2026 Fee Overview

Plan	Monthly Fee	Transactions Included	e-Transfers	Best For
Basic Business Plan	$5/mo	20	$1.50 each	Very low-volume businesses
Every Day Business A	$19/mo	60	$1.50 each	Small businesses, moderate volume
Every Day Business B	$29/mo	120	$1.50 each	Medium-volume businesses
Every Day Business C	$49/mo	250	Free unlimited	High-transaction businesses
Unlimited Business Plan	$125/mo	Unlimited	Free unlimited	High-volume, branch-dependent

All plans charge $1.25–$2.50 per transaction over the included limit. Cash deposits cost $2.50 per $1,000 on most plans.

TD Business Banking: Pros and Cons

✅ Pros

1,100+ branches across Canada
Extended hours (many open Sundays)
Strong TD Business Visa options
Robust commercial lending
QuickBooks / Xero bank feed
USD business accounts available
Payroll and merchant services

❌ Cons

High monthly fees vs. fintech
e-Transfers cost $1.50 each (most plans)
Cash deposit fees add up
Limited interest on balances
Basic plan only 20 transactions
No free unlimited plan

TD Business Credit Products

TD Business Visa Infinite

TD offers several business Visa cards including the Business Travel Visa Infinite (earn TD points on all spending) and the Business Cash Back Visa (earn 1–3% cash back on business purchases). Annual fees range from $0 to $149.

TD Business Line of Credit

TD's business line of credit starts at prime + 2–4% for established businesses with strong credit. Minimum $100 up to $250,000 for unsecured lines. Secured lines against business assets can exceed $1 million.

TD Business Loans

TD offers fixed and variable rate business term loans for equipment purchase, leasehold improvements, and working capital. BDC co-lending programs are also available through TD for qualifying small businesses.

Commercial Mortgages

TD is one of Canada's leading commercial mortgage lenders — particularly for multi-unit residential, retail, and office properties. Established TD business banking relationships often simplify the commercial mortgage application process.

Who Should Bank with TD?

TD business banking makes most sense for:

Cash-heavy businesses: Restaurants, retailers, and service businesses that make frequent cash deposits benefit from TD's wide branch network.
Businesses seeking commercial credit: TD's established lending relationships and commercial underwriting team make it strong for businesses seeking lines of credit or term loans.
US-Canada cross-border businesses: TD's US presence (TD Bank, N.A. has 1,000+ US branches) makes it uniquely useful for businesses with US operations.
Payroll-dependent businesses: TD's payroll services and CRA payroll remittance tools integrate well with the business account.

Cost comparison: A small business doing 60 transactions/month at TD pays $19–$29/month. EQ Bank handles the same volume for $0. Over a year, that's $228–$348 in savings with a fintech alternative — before e-Transfer fees.

TD vs. Competitors for Business Banking

Feature	TD	EQ Bank	RBC	KOHO
Monthly fee (basic)	$5	$0	$6	$0
Unlimited transactions	$125/mo	$0	$6/mo (digital)	$0
Free e-Transfers	$49+ plan	Yes	No	Yes
Interest on balance	~0.01%	Up to 3.5%	~0.01%	Yes
Branch access	1,100+	None	1,200+	None
Business credit card	Yes	No	Yes	Prepaid only
Business loans	Yes	No	Yes	No

Frequently Asked Questions

What is TD's cheapest business account?

The TD Basic Business Plan at $5/month includes 20 transactions. However, at that volume, many businesses would be better served by EQ Bank's free unlimited account.

Does TD offer a free business bank account?

No. TD's minimum business account fee is $5/month. TD does offer fee rebates for businesses maintaining minimum balances (typically $100–$25,000).

How do I open a TD business account?

Visit any TD branch or apply online via TD's website. You'll need your Certificate of Incorporation (or business name registration), government ID, and CRA Business Number. Corporations also need a corporate resolution.

Is TD good for small business lending?

TD is one of Canada's top small business lenders, particularly for established businesses with 2+ years of revenue history. First-year startups may find BDC (Business Development Bank of Canada) more accessible.