TD Unlimited Chequing Account

Want to learn about the TD Unlimited Chequing Account? Responsible Economy shows you all the features, fees, interest, and more. You can also compare it to the best chequing accounts in Canada. Let’s get started

Features

In this section, you can see all the features offered by the TD Unlimited Chequing Account:

Fees

The TD All-Inclusive Banking Plan has a monthly fee of $16.95, which is $203.4 per year. This is definitely a downside, as there are many banks that don’t charge monthly fees and don’t have any requirements. However, you can avoid this fee if you keep a monthly balance of $4,000 or more in your account.

Here, you have a list with all fees:

Description	Fee
Monthly Fee	$16.95
Monthly Fee for Seniors (60 or older)	$11.95
Minimum monthly balance for monthly fee	$4,000
Transactions included per month	Unlimited
Interac e-Transfer transactions	Free
Non-TD ATM Fee (in Canada)	No additional fee
Foreign ATM Fee (in U.S., Mexico)	$3.00 each
Foreign ATM Fee (in any other foreign country)	$5.00 each
Paper Statement	$2.00 per month

Rates

The TD Unlimited Chequing Account doesn’t offer any interest on the money in the account. This is another downside, as we have to keep a balance of $4,000 to avoid fees, but that money doesn’t earn any interest.

Welcome bonus

The TD Unlimited Chequing Account provides an enticing welcome bonus totaling $450, distributed in three stages. Earn $300 by arranging a direct deposit from your place of employment, pension supplier, or government. An extra $100 is awarded when you connect a TD Bank savings account. Plus, by enrolling in the Overdraft service, you’ll gain an additional $50.

Minimum deposit

While there’s no initial deposit necessary to establish the account, be aware of potential monthly charges if the required conditions aren’t met.

ATMs

Withdrawing cash at TD ATMs comes with no fees. However, for non-TD ATM withdrawals, fees apply: $2 per transaction in Canada, $3 in Mexico, and $5 in other countries.

Wire transfers

There are no fees for outgoing Interac e-Transfer transactions made online.

Overdraft service

You can sign up for Overdraft Protection to protect yourself from overdraft fees.

Summary table

We’ve compiled a table summarizing the features discussed in the prior section:

Feature	Details
Fees	$0-$16.95
Interest Rate	0% APY
Wire Transfers	0$
Minimum Deposit	$0
ATMs	$0 TD Bank
Bonus	$450
Overdraft Service	Yes

Comparison with the best chequing accounts

We have compared the best chequing accounts you can open in Canada with the TD Unlimited Chequing Account:

Requirements

To be eligible to open a TD Unlimited Chequing Account, you must meet the following requirements:

• Age: You must be at least 18 years old. This is to ensure that you have the legal capacity to manage your finances and bank accounts.
• Canadian residency: The TD Unlimited Chequing Account is designed for Canadian residents. This ensures that it is accessible to those who live in the country.

Pros and cons

Here is a table summarizing the advantages and disadvantages of the TD Unlimited Chequing Account:

Feature	Advantage	Disadvantage
Monthly fee	$16.95/month, waived with $4,000 balance	Can be avoided with a high balance
Unlimited transactions	No limit on the number of debit card purchases, Interac e-Transfers, or bill payments
Welcome bonus	Up to $450	Requires setting up direct deposit, linking a TD savings account, and signing up for Overdraft Protection
Minimum deposit	None
ATM fees	No fees for TD ATM withdrawals	$2/transaction for non-TD ATM withdrawals in Canada, $3/transaction in Mexico, and $5/transaction in other countries
Wire transfers	No fees for outgoing Interac e-Transfers made online
Overdraft protection	Available	Can be expensive

Overall, the TD Unlimited Chequing Account is a good option for people who need a chequing account with no monthly fees and unlimited transactions. However, it is important to be aware of the other fees associated with the account, such as ATM fees and overdraft fees.

Here is a more detailed explanation of the advantages and disadvantages:

Advantages

• No monthly fee if you keep a balance of $4,000 or more. This is a significant advantage, as many banks charge monthly fees for chequing accounts.
• Unlimited transactions. This means you can make as many debit card purchases, Interac e-Transfers, and bill payments as you want without being charged any fees.
• Welcome bonus of up to $450. This is a good way to earn some money back after opening the account.
• No minimum deposit required. This makes it easy to open the account, even if you don’t have a lot of money saved up.

Disadvantages:

• Monthly fee of $16.95 if you don’t keep the minimum balance. This is a significant disadvantage, as there are many banks that don’t charge monthly fees.
• ATM fees for non-TD ATM withdrawals in Canada, Mexico, and other countries. This can add up if you use non-TD ATMs frequently.
• Overdraft fees. These fees can be high, so it’s important to be careful not to overdraw your account.
• Paper statement fee of $2.00 per month. This is a small fee, but it can be avoided by opting for electronic statements.

Frequent questions

Here we answer all the questions you might have about the TD Unlimited Chequing Account:

Conclusion and opinions

After the analysis, we believe that the TD Unlimited Chequing Account is only a good option if you have a balance in the account of over $4,000, as it is the only way to avoid an annual maintenance fee of over $200. In addition, you can get up to $450 in welcome bonus. TD offers a wide range of ATMs and branches in Canada. The downside of this account is that it does not offer any interest on the money in the account.

Other TD products

We’ve also provided a list of all the TD products we have analyzed:

• TD chequing accounts.
  • TD All Inclusive Banking plan.
  • TD Unlimited Chequing Account.
  • TD Every Day Chequing Account.
  • TD Minimum Chequing Acccount.

Interesting information about TD

We have created a table with relevant information about Td:

Information	Description
Website	https://www.td.com/ca/en/personal-banking
Twitter	https://twitter.com/td_canada
Facebook	https://www.facebook.com/TDCanada/
YouTube	https://www.youtube.com/user/TDCanada/TDCanadaTrust
Linkedin	https://www.linkedin.com/company/td/

Related content

To conclude, you have more related content about chequing accounts:

Actualizado el día 2 September, 2023 por Alfredo Barandiarán