TD Bank checking accounts have no monthly fee and no minimum opening deposit

You do not need to put money in to open a TD Bank checking account. There is no minimum deposit required at the time you open the account, and there is no monthly maintenance fee once it is open. This means you can walk into a branch or open one online without having cash ready, and you will not be charged just for having the account sit there unused.

The account itself is free. However, you may face fees later if you overdraw your account (spend more than you have), use out-of-network ATMs repeatedly, or request certain services like wire transfers. Those are separate from the cost of opening the account.

Key Takeaways

  • TD Bank checking accounts require no money to open and charge no monthly fee.
  • You can open an account online, by phone, or in person at any TD Bank branch.
  • You will need a government-issued ID, Social Security number, and a way to verify your identity to complete the process.
  • Overdraft fees and out-of-network ATM fees may explore later, but the account opening itself costs nothing.

What you need to bring or provide to open an account

To open a TD Bank checking account, you will need to show a government-issued photo ID (a driver's license, passport, or state ID card) and provide your Social Security number. TD Bank will also ask for your date of birth and current address. If you are opening the account online or by phone, you will need to verify your identity through a video call or by answering security questions based on your credit history.

If you do not have a Social Security number, you may be able to open an account using an Individual Taxpayer Identification Number (ITIN) instead, though policies vary by branch. Call your local TD Bank branch to ask whether this option is available to you.

How to open an account without going to a branch

You can open a TD Bank checking account online through their website or by calling 1-800-937-8372. The online process takes about 10 minutes. You will enter your personal information, choose a username and password, and set up a PIN. TD Bank will then ask you to verify your identity, usually by video call or by answering questions about your financial history.

Once your identity is verified, your account opens when ready and you can start using it the same day. You will receive a debit card in the mail within 7 to 10 business days. If you need to withdraw cash before the card arrives, you can visit any TD Bank branch and withdraw from your new account using your ID.

Opening an account in person at a TD Bank branch

If you prefer to open an account face-to-face, visit any TD Bank branch during business hours. Bring your government-issued ID and be ready to provide your Social Security number and current address. A banker will walk you through the process, which usually takes 15 to 20 minutes. You will choose a username and password, set up a PIN, and sign documents.

When you open in person, you can request a temporary debit card on the spot, which you can use when ready at TD Bank ATMs and branches. Your permanent card will arrive in the mail within 7 to 10 business days. If you want to deposit cash or a check on the day you open the account, you can do that at the branch right away.

Fees that may explore after you open the account

While there is no fee to open or maintain the account, TD Bank does charge fees for certain actions. An overdraft fee applies if you spend more money than you have in your account — the fee amount varies but is typically around $35 per overdraft. If you use an ATM that is not part of the TD Bank network, you may be charged a fee by that ATM's operator, and TD Bank may charge you a small fee as well.

Wire transfers, cashier's checks, and some other services also carry fees. However, basic checking — depositing paychecks, paying bills online, using your debit card, and withdrawing cash at TD Bank ATMs — costs nothing beyond the initial account opening.

What happens after you open your account

Once your account is open, you can set up direct deposit for your paycheck, which usually takes one to two business days to process the first time. You can also transfer money from another bank account you own, set up bill pay through TD Bank's website, and use your debit card to make purchases or withdraw cash.

If you opened online or by phone, your permanent debit card will arrive in the mail. In the meantime, you can use your temporary card at TD Bank ATMs and branches, or you can visit a branch and ask for a temporary card to use at other merchants. Your account is fully functional as soon as it opens — you do not have to wait for the card to arrive to start using the account.

Frequently Asked Questions

Do I need to have a job to open a TD Bank checking account?

No. TD Bank does not require proof of employment or income to open a checking account. You only need a government-issued ID, Social Security number, and a current address. Students, retirees, and people who are unemployed can all open accounts.

Can I open a TD Bank checking account if I have been denied a bank account before?

It depends on why you were denied. TD Bank checks ChexSystems, a database of banking history. If you have unpaid overdrafts or fraud on your record, you may be denied. Contact TD Bank directly to ask about your specific situation, or ask about their second-chance banking options if available in your area.

What if I do not have a permanent address?

You will need to provide a current address to open the account. If you are experiencing homelessness, ask TD Bank whether you can use a shelter address, a trusted friend's address, or a mail forwarding service. Policies vary by branch, so call ahead to ask.

Can someone else open an account for me?

No. You must open the account yourself and verify your identity in person or through a video call. TD Bank cannot open an account on your behalf, even if someone has power of attorney over your finances.