The TD Student Chequing Account provides a budget-friendly banking solution for young people and full-time students. It comes with unlimited transactions, no monthly fees, and even a modest interest rate. New signups can get a welcome bonus of up to $125, along with discounts on trades through TD Direct Investing.
Students who travel or study abroad should keep in mind the extra fees for using non-TD ATMs. While it may not include some of the niche perks offered by competitors, the TD Student Chequing Account remains a practical and cost-effective option for straightforward student banking.
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TD Student Chequing Account features
Here’s a list of features to help compare this account with others, so you make a confident decision when choosing a new account:
Verified on August 29, 2025
Why You Want It
Earn up to $125 welcome bonus + Free transactions and e-Transfers.
Special Features
- Earn 50% more Starbucks stars
- Free overdraft protection
- Discounted trades with TD Direct Investing
Eligibility
- Be the age of majority in your province or territory
- Must be under the age of 23 or a full-time student
Provinces
ALL
Features
Minimum Balance To Waive Fee
N/A
# Of Free Monthly Transactions
Unlimited
# Of Free Monthly Interac E-Transfers
Unlimited
Monthly Fee
$0.00
Excess Transaction Fee
N/A
Excess Interac E-Transfer Fee
N/A
Maximum Credit Card Annual Fee Waiver
N/A
Maximum Welcome Bonus
$125
Promo End Date
November 05, 2025
Physical Locations
Automatic Budgeting System
Minimum Interest Rate
N/A
Earn Rewards On Debit Purchases
Free Cheques
Free Bank Drafts
Max Rebates For Other Accounts
N/A
Discounts For Seniors
Discounts For Youth
Other Discounts
TD Student Chequing Account product rating: 3.7 stars
The TD Student Chequing Account is particularly beneficial for students on a budget, offering no monthly fees, unlimited transactions, and free Interac e-Transfers. The account's introductory offer allows new customers to earn up to $125 – which is especially appealing for those just starting out with banking.
Fees for using non-TD ATMs, particularly in the US, Mexico, and other foreign countries, could be a concern for students who live or travel out-of-country. Overall, this account is an excellent fit for students with standard banking needs, but might not be ideal for those looking for more perks from their bank account.
Learn more about our rating methodology.
The pros of TD Student Chequing Account
In this section, we explore the range of benefits offered by the TD Student Chequing Account, highlighting its features tailored to meet the unique financial needs of students. From no monthly fees to unlimited transactions, learn how this account can be a smart choice for students learning to manage finances efficiently:
Pros
No monthly fee for this account
The TD Student Chequing Account is an attractive option for students and youth under 23, offering the significant benefit of no monthly fees. This is a must for cash-strapped students, allowing them to manage their finances without worrying about regular charges. It's a practical and economical choice for student banking.
Unlimited transactions and e-Transfers
The TD Student Chequing Account offers the advantage of unlimited transactions and free Interac e-Transfers. Students can make as many transactions as they need, whether it's paying bills, shopping, or transferring money – without facing extra fees.
Free overdraft protection
The TD Student Chequing Account provides free overdraft protection, a safety net for young people just learning how to manage their money. It ensures students are covered in the event they don’t have enough money in their account to cover a transaction and prevents the high fees that could rack up from going into the negative.
Earn 0.01% interest on account balance
Users earn 0.01% interest on every dollar in their account. While the rate is modest, it offers students the benefit of earning interest on their deposited money, making it a suitable option for those looking to gain some financial return on their account balances.
Earn 50% more Stars at Starbucks
Account holders can earn 50% more Stars at participating Starbucks stores. By linking their eligible TD debit card to a Starbucks Rewards account, students can rack up points to redeem for free coffee much faster than they could without this account.
The cons of TD Student Chequing Account
While the TD Student Chequing Account offers a range of benefits tailored for students, it's important to acknowledge its limitations. In the following section, we'll explore areas where the account might fall short:
Cons
Extra ATM fees
TD Student Chequing Account holders face extra fees for using non-TD ATMs. Each withdrawal at a non-TD ATM in Canada costs $2, $3 in the U.S. and Mexico, and $5 in other foreign countries. These fees can add up fast, especially for students who require the use of foreign ATMs. Plus, you'll likely have to pay additional convenience fees charged by the machine itself to top it off.
Welcome bonus requires a few extra steps
To access the full welcome bonus of the TD Student Chequing Account, students must complete multiple steps beyond just opening the account. Domestic students need to complete 3 actions in their account (such as make a bill payment, set up a direct deposit, or make an online purchase, etc.) and be approved for a TD Rewards Visa Card. International students must also open a savings account.
Lacking extra perks like CIBC or Scotiabank’s student accounts
The TD Student Chequing Account doesn’t come with perks like the opportunity to earn Scene+ points, access SPC+ discounts, or offer referral bonuses like the CIBC Smart Start Account. These unique features can be especially appealing to students trying to save money.
TD Student Chequing Account alternatives
Students have more banking choices than ever. Here are some other student accounts:
 |  |  | |
|---|---|---|---|
| Account | CIBC Smart Start Account | RBC Advantage Banking for students | BMO Performance Chequing Account for Students |
| Genius Rating | |||
| Why You Want It | Unlimited free transactions until you're 25 + A free SPC+ membership. | A full featured bank account for students with no monthly fees. |  $75 GeniusCash + Earn a $175 welcome bonus + no monthly plan fees while in school and one year after graduating. |
| Minimum Balance To Waive Fee | N/A | $0 | N/A |
| # Of Free Monthly Transactions | Unlimited | Unlimited | Unlimited |
| # Of Free Monthly Interac E-Transfers | Unlimited | Unlimited | Unlimited |
| Monthly Fee | $0.00 | $0.00 | $0.00 |
| Excess Transaction Fee | N/A | $0.00 | N/A |
Show More | |||
| Open an account See more CIBC products Compare | Learn More See more RBC products Compare | I Want This Deal See more BMO products Compare |
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FAQ
What is the TD Student Chequing Account interest rate?
The TD Student Chequing Account offers a 0.01% interest rate on account balances, providing a modest return on deposited funds. You don’t typically see interest rates offered in a chequing account, so it’s a nice added bonus.
What are the TD Student Chequing Account fees?
The TD Student Chequing Account features no monthly fees and offers unlimited transactions and free Interac e-Transfers. While it offers great value, account holders do pay fees for non-TD international ATM use, ranging from $2 - $5.
Is there a TD Student Chequing Account promotion?
Yes, TD offers a welcome promotion for the TD Student Chequing Account, allowing new customers to earn up to $125 in value and enjoy discounts when trading via TD Direct Investing.
Rating methodology
To calculate our Genius Ratings, we compare the features of the account or product in question with other similar products in Canada. We give each feature a score out of 5 based on that comparison. Once we’ve rated all the features, we run them through our proprietary algorithm to produce a final rating out of 5.
Editorial Disclaimer: The content here reflects the author's opinion alone, and is not endorsed or sponsored by a bank, credit card issuer, rewards program or other entity. For complete and updated product information please visit the product issuer's website.
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