You can close a TD savings account online through TD's website or mobile app, but the process depends on your account type and whether you have money in it
TD Bank offers two main ways to close a savings account: through their online banking platform or by visiting a branch in person. The online method is faster if your account is in good standing — meaning you have no pending transactions, no negative balance, and no holds on the account. If you have money left in the account, you'll need to transfer it out first or let TD send you a check after closure.
The exact steps vary slightly depending on whether you use TD's website or their mobile app, and whether your account is linked to other TD products. This guide walks you through the online process and explains what happens at each stage.
Key Takeaways
- You must transfer or withdraw all money from your TD savings account before closing it online — TD will not close an account with a balance.
- The online closure process takes place in your TD account settings, not through customer service chat or email.
- If you cannot close the account online, you can visit a TD branch with your ID, and a banker can close it for you in minutes.
- After closure, keep your final statement for your records, as you may need it for tax or banking history purposes.
- Some TD accounts have early closure fees if closed within a certain timeframe — check your account agreement before starting the process.
Steps to close your account through TD's website
Log into your TD Bank online account using your username and password. Once you're logged in, look for "Settings" or "Account Settings" — this is usually found in the top right corner of the page or in a menu labeled with your name or initials.
Navigate to the section for your specific savings account. You should see a list of all your accounts. Click on the savings account you want to close. Look for an option that says "Close Account," "Account Options," or "Manage Account." The exact wording varies, but it will be near other account management tools.
Before you can proceed, TD will ask you to confirm that your account balance is zero. If you still have money in the account, you must go back and transfer it to another account or withdraw it at an ATM or branch. Once your balance is confirmed at zero, you can continue with the closure request.
Review the closure confirmation screen. TD will show you the account number, the account type, and the date the closure will take effect. Read any notices about fees or final statements. Then select the option to confirm closure. You should receive an on-screen confirmation and an email confirmation within a few minutes.
Closing your account through the TD mobile app
Open the TD Bank mobile app and log in with your credentials. Tap the account you want to close from your list of accounts. This will open that account's details page.
Look for a menu icon — usually three horizontal lines or three dots — on the account details screen. Tap it to see more options. Select "Close Account" or "Account Settings," depending on your app version.
The app will walk you through the same confirmation steps as the website: verifying your balance is zero, reviewing the closure details, and confirming your request. Once you submit, you'll see a confirmation message on screen and receive an email confirmation.
The mobile app closure process typically completes within the same timeframe as the website — usually within one business day, though it may take up to three business days for the account to fully close in TD's system.
What to do if you still have money in the account
Before you can close your account online, you must move all remaining money out. You have three options: transfer the balance to another TD account you own, transfer it to an external bank account, or withdraw it in cash.
To transfer to another TD account, log into online banking, select the savings account, and look for "Transfer Funds" or "Move Money." Choose your destination account and enter the amount. The transfer usually completes within one business day.
To transfer to an external account, you'll need the routing number and account number of the bank you're transferring to. This process is called an external transfer or ACH transfer. It typically takes three to five business days. Set up the transfer in your TD online banking under "External Transfers" or "Move Money to Another Bank."
If you prefer cash, visit a TD branch with your debit card or ID and ask a teller to withdraw the full balance. This is the fastest option if you need the money when ready.
What happens after you close your account
Once your closure request is submitted, TD will send you a final statement by mail or email, depending on your account settings. This statement shows all activity up to the closure date and confirms the account balance was zero at closing. Keep this statement for your records — you may need it for tax purposes or to prove the account is closed if a company tries to contact you about it.
The account will appear as "closed" in your TD online banking for a period of time, usually 30 to 90 days. After that, it may disappear from your account list entirely. If you need to reference the account number or closure date later, take a screenshot or photo of your final statement.
If you have any pending transactions — such as automatic bill payments or recurring transfers — those will be cancelled when the account closes. If you set up automatic payments from this account, you'll need to update those payments to use a different account or payment method before closing.
When you cannot close your account online
Some TD accounts cannot be closed through online banking. This includes accounts with pending disputes, accounts with holds placed by the bank, accounts with negative balances, or accounts that are part of a legal hold or garnishment.
If you see an error message when trying to close your account online, or if the "Close Account" option does not appear, visit a TD branch in person. Bring a valid photo ID and your debit card. A banker can review your account, resolve any issues preventing closure, and close the account for you on the spot.
You can also call TD Bank customer service to ask why your account cannot be closed online. They can explain the issue and tell you whether it can be resolved before closure or whether you need to visit a branch.
Early closure fees and account agreements
Some TD savings accounts charge a fee if you close the account within a certain period — often 30, 60, or 90 days of opening. This is called an early closure fee or early termination fee. The amount varies by account type and may range from $25 to $100, though this depends on the specific product.
Before you close your account, check your account agreement or the account details page in online banking to see if an early closure fee applies. If a fee is due, TD will deduct it from your final balance before sending you any remaining funds. If your balance is already zero, you may owe the fee separately, and TD will contact you about payment.
If you believe the fee is unfair or if you were not informed about it when you opened the account, you can contact TD customer service to discuss a waiver. Some bankers will waive the fee if you explain your situation, though this is not may provide.
Frequently Asked Questions
How long does it take for a TD savings account to close after I submit the request online?
The account usually closes within one to three business days after you submit your closure request. You'll receive an email confirmation when ready, and a final statement will arrive by mail or email within 5 to 7 business days. The account may still appear in your online banking for a few weeks after closure, but it will be marked as closed.
What if I closed my account but money is still showing in it?
This usually means the closure is still processing. Check your email for a confirmation message with the closure date. If more than three business days have passed and the account still shows a balance, contact TD customer service with your account number and closure confirmation email. They can check the status and resolve any delays.
Can I reopen a TD savings account after closing it?
Yes, you can open a new TD savings account at any time. However, you cannot reopen the exact same account — you'll need to open a new one with a new account number. If you closed the account due to a fee or service issue, ask about different account types that might better suit your needs.
Do I need to close my account in person, or can I really do it online?
You can close most TD savings accounts online if your balance is zero and there are no holds or disputes on the account. The online process is faster and does not require a trip to a branch. Visit a branch only if online closure is not available or if you need help resolving an issue preventing closure.
Will closing my TD savings account affect my credit score?
Closing a savings account does not directly affect your credit score because savings accounts are not reported to credit bureaus. However, if you have a linked checking account or credit product, closing the savings account will not impact those. Your credit is only affected by credit products like credit cards, loans, and lines of credit.