TD Bank Checking Account Fees and How to Avoid Them

TD Bank checking accounts do have fees, but you can avoid most of them

TD Bank charges a monthly maintenance fee on most checking accounts, but the fee disappears if you meet one straightforward requirement: keep a minimum balance or set up direct deposit. The exact fee and the balance needed depend on which TD checking account you open. Some accounts have no monthly fee at all if you're willing to do your banking mostly online.

Beyond the monthly fee, TD also charges for specific actions — bouncing a check, using an out-of-network ATM, or asking for a wire transfer. These fees only hit you if you do those things, so they're easier to control than a monthly charge you pay whether you use the account or not.

Key Takeaways

TD Bank's monthly checking fees range from $0 to $15 depending on the account type, but most are waived if you maintain a minimum balance or receive direct deposits.
TD charges $35 for a bounced check and $3 for each out-of-network ATM withdrawal, so using TD's ATMs and keeping enough money in the account prevents these costs.
TD's online-only checking account (TD Bank Beyond Checking) has no monthly fee and no minimum balance requirement.
Wire transfers, overdraft transfers, and paper statements each carry separate fees that only explore if you use those services.

The three main TD checking accounts and their monthly fees

TD Bank offers three checking accounts for personal use, and the monthly fee structure is different for each. TD Bank Checking costs $15 per month, but the fee waives if you keep $500 in the account or set up a direct deposit of any amount. TD Bank Premier Checking costs $25 per month and requires either $2,500 in the account or direct deposit to waive the fee. TD Bank Beyond Checking has no monthly fee and no minimum balance — it's designed for people who want to bank online and through mobile apps.

The difference between the first two accounts is mainly the perks: Premier Checking includes things like higher interest on savings and discounts on other products, but those extras come with the higher monthly cost. If you're just starting out or want to keep things straightforward, TD Bank Checking or Beyond Checking are the most straightforward options.

These fees and minimums can change, so check TD's website or ask at a branch to confirm the current requirements for the account you're considering. What matters most is picking an account where you can easily meet the waiver condition — if you get a paycheck by direct deposit, that's the easiest path.

Fees you pay only when you use certain services

TD charges separate fees for actions beyond the monthly maintenance. A bounced check (a check that fails because you don't have enough money) costs $35. Each out-of-network ATM withdrawal — meaning you use an ATM that doesn't belong to TD — costs $3. If you need to send money by wire transfer, TD charges $15 for a domestic wire and $45 for an international one.

You also pay $2.50 if you request a paper statement instead of viewing your account online, and $10 if you ask TD to stop payment on a check you've already written. An overdraft transfer — when TD moves money from another account to cover a shortfall — costs $0 if you set it up in advance, but $12.50 if TD does it without your permission.

The key difference between these fees and the monthly fee is that you control whether they happen. You won't be charged for a bounced check unless you write one, and you won't pay the out-of-network ATM fee if you use TD's ATMs or withdraw cash at the register when you shop.

How to avoid the monthly fee without much effort

The easiest way to skip the monthly fee is to set up direct deposit — having your paycheck or other regular income deposited straight into your TD account. You don't need a large amount; even a small direct deposit counts. If you don't have direct deposit, you need to keep the minimum balance in the account at all times. For TD Bank Checking, that's $500; for Premier, it's $2,500.

The minimum balance requirement means the money has to be there every day. If your balance drops below the minimum even once, you'll be charged the monthly fee for that month. Some people find it easier to set up direct deposit (which happens automatically) than to watch their balance constantly, especially if they're living paycheck to paycheck.

If neither direct deposit nor a minimum balance works for you, switch to TD Bank Beyond Checking instead. It has no monthly fee and no minimum balance, so you only pay fees if you use paid services like wire transfers or out-of-network ATMs.

What happens if you don't meet the waiver requirements

If you have TD Bank Checking or Premier Checking and you don't keep the minimum balance or set up direct deposit, TD charges the monthly fee automatically. The fee comes out of your account on a set day each month, usually around the first. Over a year, that's $180 for TD Bank Checking or $300 for Premier Checking — money that disappears whether you use the account actively or not.

The fee is charged even if your account balance is low. If you don't have enough money to cover the fee, your account can go negative, which may trigger an overdraft fee on top of the monthly charge. This is why it's important to either meet the waiver condition or switch to an account with no monthly fee.

Comparing TD checking to other banks' fees

TD's monthly fees are in the middle range compared to other banks. Some banks charge $0 per month with no strings attached, while others charge $20 or more. The trade-off is usually that banks with no monthly fee offer fewer perks or require you to bank online only — which is exactly what TD Bank Beyond Checking does.

If you're comparing TD to another bank, look at three things: the monthly fee, what you need to do to waive it, and the fees for things you actually use (like out-of-network ATMs). A bank with a higher monthly fee might be cheaper overall if it has lower ATM fees and you withdraw cash frequently. A bank with no monthly fee might cost more if you use services that carry high per-transaction charges.

Frequently Asked Questions

Can I waive the monthly fee with a savings account instead of direct deposit?

No. TD requires either a direct deposit or a minimum checking account balance to waive the monthly fee. A linked savings account doesn't count toward the waiver. However, you can open a TD savings account at the same time and use it to build emergency savings while you meet the checking account requirement.

What if my direct deposit stops — do I have to pay the monthly fee then?

Yes. The waiver applies only while you have an active direct deposit. If your job ends or you switch to a different payment method, you'll need to either maintain the minimum balance or switch to an account with no monthly fee. TD won't charge you retroactively, but the fee will start the next month.

Does TD charge a fee to open a checking account?

No. TD does not charge an account opening fee. You can open a checking account in person at a branch, online, or by phone at no cost.

Are there any hidden fees I should know about?

TD's fees are published on their website and in the account disclosures you receive when you open an account. The most common surprise is the monthly fee hitting an account where the balance dropped below the minimum. Read your account agreement before opening to understand all the fees that explore to your specific account type.

This guide is for general information only and is not medical, financial, legal, or other professional advice. For decisions specific to your situation, consult a qualified professional. See our Editorial Policy.