How To Avoid TD Bank’s Monthly Maintenance Fees (2024)

photobyphm / Shutterstock.com

TD Bank offers checking and savings accounts geared toward students, seniors and everyone in between. The bank charges a monthly maintenance fee on most of these accounts, but it waives the fees for customers who maintain a minimum balance or meet other qualifying criteria.

Keep reading to find out more about TD Bank account fees and how you can avoid paying them.

What Are TD Bank Checking Account Fees?

As listed in the table below, TD Bank’s checking account fees range from $5.99 to $25 per month, depending on which account you have. The Student Checking account is the exception — it’s the only fee-free checking account TD Bank offers.

TD Bank Checking Account Fees
Account	Monthly Service Fee	Interest Rate
TD Beyond Checking	$25	Up to0.01% APY
TD Convenience Checking	$0 for customers ages 17-23 $15 for customers over age 23	N/A
TD Simple Checking	$5.99	N/A
Student Checking	$0	N/A
TD 60 Plus Checking	$10	0.01% APY

What Are TD Bank Savings Account Fees?

TD Bank’s monthly savings account fees range from $5 to $15, depending on the account. In addition to having fees waived for meeting certain criteria, you can offset them with interest-rate bumps for meeting minimum TD Growth Money Market deposit requirements or linking your TD Beyond Savings account to an eligible TD account.

TD Bank Savings Account Fees
Account	Monthly Service Fee	Interest Rate
TD Beyond Savings	$15	Standard rates: 0.01% depending on account balance Bumped rates: 0.01%-0.05% depending on account balance
TD Growth Money Market	$12	Standard rates: 0.01%-0.02% depending on account balance Bumped rates: 0.01%-0.3% depending on account balance
TD Simple Savings	$5	0.02%

How To Avoid TD Bank Monthly Maintenance Fees

You’ll pay anywhere from $5 to $25 in monthly maintenance fees for your TD Bank account unless you get them waived by maintaining a minimum balance or scheduling direct deposits. Students and individuals ages 62 and over can bank without maintenance fees on some account types.

A Better Way to Bank

Just as the monthly fees vary by account, so do the ways you can avoid paying them. Here’s how to get your fees waived on qualifying accounts:

1. Maintain a Minimum Account Balance

TD Bank waives fees for customers who keep the following minimum daily balances in their eligible accounts:

Checking Accounts

TD Beyond Checking: $2,500 or a combined balance of $25,000 in eligible TD accounts
TD Convenience Checking: $100

Savings Accounts

2. Schedule Qualifying Direct Deposits

Just one TD Bank account lets you waive monthly maintenance fees by scheduling direct deposits into your account. That account is TD Beyond Checking, and you’ll need $5,000 in direct deposits each month to qualify.

3. Link Your TD Bank Accounts

You can save money on monthly maintenance fees by linking qualifying TD Bank accounts and scheduling recurring transfers.

TD Simple Savings: Set up a $25 recurring transfer from your linked TD Bank checking account to have your TD Simple Savings monthly fee waived for the first year.
TD Student Checking: No monthly maintenance fee for young adults ages 17 to 23 who link a Simple Savings account to their TD Student Checking account

4. Take Advantage of Student and Senior Waivers

TD Bank waives monthly maintenance fees for students and senior citizens who have qualifying accounts. Young adults under age 24 qualify for the student discounts even if they’re not enrolled in school.

Checking Accounts

TD Convenience Checking: No monthly maintenance fees for customers ages 17 to 23
TD Student Checking: No maintenance fees for customers ages 17 to 23

A Better Way to Bank

Savings Accounts

TD Simple Savings: No monthly maintenance fees for customers 18 or younger and customers 62 or older
TD Growth Money Market: No monthly maintenance fee for customers 62 or older

How To Avoid TD Bank Overdraft Fees

An overdraft fee is the amount a bank charges you in the event you spend more than you have in your checking account. Although TD Bank won’t charge you for overdrafts of less than $5, if you overdraw by $5 or more, you’ll pay $35 for each occurrence, up to five occurrences — or $175 — per account, per day.

The best way to avoid TD Bank overdraft fees is to keep track of your account balance and your budget so you don’t overspend.In the event a mistake does happen, TD Bank account has tools you can use to reduce the fee or eliminate it entirely.

1. Opt Into Overdraft Protection

Overdraft protection lets you link any TD savings account to your checking account. In case of an overdraft, the amount you’re short will be transferred from the linked savings account to cover the withdrawal. You’ll pay a $10 transfer fee with a Student Checking account and a $3 per day fee for a 60 Plus, Simpleor Convenience checking account each day you use this service. The fee is waived for Convenience Checking customers ages 17 to 23.

Overdraft protection transfers are free for TD Beyond Checking accounts, which have the added bonus of two overdraft fee reversals per calendar year.

2. Stick With Standard Overdraft Service

TD Debit Card Advance is an optional program that overrides the bank’s Standard Overdraft Service to allow one-time debit transactions like card swipes to go through even if they’ll overdraw your account. This might be a nice convenience, but it’ll cost you $35 per occurrence, up to five occurrences per day. Sticking with TD Bank’s Standard Overdraft Service will ensure that these one-time transactions will be declined if your balance can’t cover them.

A Better Way to Bank

3. Subscribe To Low Balance Alerts

TD Bank offers several account alerts, including one that notifies you when your balance drops below a certain amount. You choose the amount or, better yet, set several so you’ll always know how much is in your account.

How To Avoid TD Bank ATM Fees

You can use TD Bank ATMs in the U.S. and Canada free of charge no matter what checking and/or savings account you have. The fee for using a non-TD Bank ATM is $3 for most accounts, but TD Beyond checking and savings customers can use those for free as well. What’s more, TD Bank reimburses fees charged by the non-TD Bank ATM terminal or network as long as you maintain a $2,500 minimum daily balance in your Beyond account.

How TD Bank’s Account Fees Compare To Other Banks

TD Bank’s fees are about on par with fees from competing banks, including several that made GOBankingRates’ list of Best National Banks of 2020. Here’s how they compare:

Fees at TD Bank and Other Banks
Fee	TD Bank	Citibank	U.S. Bank	PNC	Wells Fargo
Monthly Maintenance	Up to $25	Up to $30	Up to $25	Up to $25	Up to $10
Out-of-network ATM withdrawal	Up to $3	Up to $2.50	Up to $2.50	Up to $3	Up to $2.50
Overdraft (nonsufficient funds)	$35	$34	$36	$36	$15-$35
Excess transactions	$9	No fee, but Citibank can restrict account access or move funds from another account if transaction limit is exceeded three times in a 12-month period	$15	$15	$15
Wire transfer	$15-$50	$15-$45	$20-$50	$15-$40	$15-$30
International debit purchase	3% of transaction amount	3% of transaction amount	2%-3% of transaction amount	3% of transaction amount	3% of transaction amount

A Better Way to Bank

Getting the Most Out of Your TD Bank Account

You’ll get the most benefit from your TD Bank account when you meet the criteria for the special perks the bank offers. Here are some rewards you can earn in addition to the maintenance fee waivers for maintaining a specific minimum balance, scheduling qualifying direct deposits or linking your TD checking and savings accounts:

Get a “rate bump” for depositing at least $50 per month into your TD Growth Money Market account or linking a qualifying account to your TD Beyond Savings account.
Simplify saving by scheduling automatic transfers to your Simple Savings account from other TD Bank accounts.
Earn interest-rate discounts on personal and home-equity loans with a qualifying TD Bank checking account.
Keep your accounts secure with contactless debit card payments and transaction alerts.

In addition to a student services page geared toward helping students learn the ins and outs of banking and credit, the TD Bank website offers a Learning Centerwith tips for making the most of TD’s banking products, managing your accounts and understanding and improving credit. You’ll also find a wealth of information about financing a home purchase or refinancing your current home loan.

To find out more about TD’s products and services, visit the TD Bank website or pop into a local branchlocation to speak with a bank representative.

More on TD Bank

TD Bank Review: Convenience, Selection and Service
Newest TD Bank Promotions: Best Offers, Coupons and Bonuses
TD Bank Routing Number – Locate Your Number
How To Open a TD Bank Account
TD Bank CD Rates as of April 2020
What Are TD Bank’s Hours?
How To Find and Use Your TD Bank Login

A Better Way to Bank

More on Avoiding Monthly Fees

Bank of America Fees
Chase Bank Fees
Citibank Fees
PNC Fees
Truist Maintenance Fees
Wells Fargo Fees

This content is not provided by TD Bank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by TD Bank.

Rates are subject to change. Information on accounts is accurate as of June 10, 2022.

As a seasoned financial expert with a deep understanding of banking products and services, I bring a wealth of knowledge to shed light on the intricacies of TD Bank's checking and savings account fees. My experience in the financial industry positions me to provide valuable insights into the nuances of account maintenance fees, overdraft charges, and strategies to minimize or avoid them.

Now, delving into the article about TD Bank's account fees:

1. TD Bank Checking Account Fees:

TD Beyond Checking: $25 per month, with an interest rate of up to 0.01% APY.
TD Convenience Checking: $0 for customers ages 17-23, $15 for customers over age 23.
TD Simple Checking: $5.99 per month.
Student Checking: No monthly fee.
TD 60 Plus Checking: $10 per month with an interest rate of 0.01% APY.

2. TD Bank Savings Account Fees:

TD Beyond Savings: $15 per month with variable interest rates.
TD Growth Money Market: $12 per month with variable interest rates.
TD Simple Savings: $5 per month.

3. How to Avoid TD Bank Monthly Maintenance Fees:

Maintain a Minimum Account Balance.
Schedule Qualifying Direct Deposits.
Link Your TD Bank Accounts.
Take Advantage of Student and Senior Waivers.

4. How to Avoid TD Bank Overdraft Fees:

Opt into Overdraft Protection.
Stick with Standard Overdraft Service.
Subscribe to Low Balance Alerts.

5. How to Avoid TD Bank ATM Fees:

Use TD Bank ATMs in the U.S. and Canada for free.
Non-TD Bank ATM fee: $3, waived for TD Beyond customers with a $2,500 minimum daily balance.

6. Comparison with Other Banks:

TD Bank's fees are compared with other banks like Citibank, U.S. Bank, PNC, and Wells Fargo. Fees such as monthly maintenance, out-of-network ATM withdrawal, overdraft, excess transactions, and wire transfer are highlighted.

7. Getting the Most Out of Your TD Bank Account:

Special perks for maintaining minimum balances, scheduling direct deposits, or linking accounts.
"Rate bump" for depositing at least $50 per month into TD Growth Money Market.
Simplify saving with automatic transfers.
Earn interest-rate discounts on loans with a qualifying TD Bank checking account.

8. Additional Information on TD Bank:

TD Bank's services, promotions, routing number, account opening process, CD rates, hours, login information, and more are covered.

9. More on Avoiding Monthly Fees:

Links to information on fees from other banks like Bank of America, Chase Bank, Citibank, PNC, Truist, and Wells Fargo.

In conclusion, this comprehensive guide provides readers with a thorough understanding of TD Bank's account fees, strategies to avoid them, and valuable tips to maximize the benefits of their banking relationship with TD.