TD is increasing the fees on most of its bank accounts starting July 1, 2025. Customers will see monthly fees rise by $1 on three of the four popular chequing accounts, along with some other fees being updated.
The bottom line: TD's changes mean that it will cost you more to bank with them.
TD chequing account monthly fee increases
The monthly fees for three of TD's chequing accounts will be going up by $1. Here’s an overview of the accounts, the current monthly fee, and the new monthly fee starting July 1, 2025:
| TD account | Current monthly fee | Monthly fee as of July 1 |
|---|---|---|
| TD Every Day Chequing | $10.95 | $11.95 |
| TD Unlimited Chequing | $16.95 | $17.95 |
| TD All-Inclusive Banking | $29.95 | $30.95 |
If you're 60 years or older and enjoy the seniors’ fee, you won’t see any changes to these accounts.
Read more: TD notice of account and fee changes effective July 1, 2025
Monthly fee waiver increase for the TD Ultimate package
For TD All-Inclusive bankers, the minimum account balance you must meet to waive the monthly fee is increasing.
Currently, you’re required to have $5,000 in your account; starting July 1, you’ll need to maintain a balance of $6,000 each day of the month to qualify for the fee waiver.
Other fee changes
There are a couple more fee changes happening at TD.
Interac e-Transfers
This is the lone bright spot. There are no changes to the fee you'll pay to send an Interac e-Transfer. If you need to cancel an e-Transfer you sent, though, it will no longer cost you anything. TD previously charged a fee of $5.
Safe deposit boxes
The annual rental for a safe deposit box is going up:
| Box size | Current fee | New fee |
|---|---|---|
| Small | $60 | $80 |
| Medium | $100 | $135 |
| Large | $150 | $200 |
| Oversize | $5 per square inch | $10 per square inch |
All-Inclusive bankers currently receive a free small safe deposit box and there is no mention of a change to this. We assume this perk will remain as is.
Bank for free with online banking
These changes aren’t isolated to TD – many of the big banks have increased the monthly fees on their chequing accounts.
If you're tired of paying monthly fees (or leaving large deposits to get them waived), take a look at online-only banks. They typically offer unlimited transactions without any monthly fees. Yes, you lose the ability to go into a bank to get things done – but if you do your banking online, anyway, these are worth a look.
Monthly fees on your chequing account can get as high as $30 per month, but thankfully the CIBC-owned digital bank Simplii has a solution for you. With the Simplii No-Fee Chequing account, you'll get unlimited access to your money, plus you can even use CIBC ATMs for free.
- No monthly fee or minimum balance requirement
- Free and unlimited transactions
- Earn interest on your balance
- Free international money transfers
- Free access to over 3,400 CIBC ATMs
- Get up to $125 in friend referrals
- Going into overdraft can be costly
- Extra fees on non-affiliated and international ATMs
- No extra bells and whistles
- Not available in Quebec
- Resident of Canada
- Age of majority
- Free access to CIBC ATMs
- Send money internationally for free
- Valuable referral bonuses
With the Coast Capital Free Chequing, Free Debit, and More Account, you'll get free unlimited day-today transactions*** for no monthly fee.
- Banking with a full-service institution
- Earn a sweet welcome bonus
- Free use of ATMs across Canada
- Deposit cheques with just a photo
- Fees for sending Interac e-Transfers
- Age of majority in your province
- Social Insurance Number for new members
- New members must purchase a minimum of $5 in membership equity shares
$100 GeniusCash + New members can get $150** when they open and use a Free Chequing Account.
- Work with a full service bank, not just an online bank
- Free withdrawals and deposits at more than 4,000 Exchange Network ATMs across Canada
$100 GeniusCash + New members can get $150** when they open and use a Free Chequing Account.
The Tangerine Chequing Account is one of the best no fee chequing accounts around. Get unlimited transactions, all the Interac e-Transfers you need, and earn an interest rate of up to 0.1% on your balance, rare for a chequing account.
- No monthly fee
- Unlimited free transfers
- No minimum balance requirement
- Pairs well with a Tangerine Savings Account
- Welcome bonus available
- Advertised interest rates are misleading
- Limited free cheques
- High non-affiliated ATM fees
- Limitations of an online bank
- Age of majority
- Canadian citizen
- Automatically categorizes your spending
- Free first book of 50 cheques
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