The TD Unlimited Chequing Account lives up to its name, offering unlimited transactions and unlimited Interac e-Transfers. At $17.95 per month, it’s a mid-tier bank account that comes with plenty of value, including a generous welcome bonus and the option to receive a first-year annual fee rebate on several TD credit cards—perfect if you like keeping your financial products all at one institution.
It’s worth noting the minimum balance required to waive the monthly fee, as well as the extra charges for using ATMs outside Canada. Beyond that, the TD Unlimited Chequing Account stands out as a reliable, feature-rich option from one of the country’s most trusted banks.
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TD Unlimited Chequing Account features
Here's an overview of the features, tools, and services that the TD Unlimited Chequing Account has to offer:
Verified on August 29, 2025
Why You Want It
$139 credit card fee waiver + Unlimited transactions and e-Transfers.
Special Features
- Discounted monthly fee for seniors
- Free unaffiliated ATM use
- Earn 50% more Starbucks Stars
Eligibility
- Age of majority
Provinces
ALL
Features
Minimum Balance To Waive Fee
$4,000
# Of Free Monthly Transactions
Unlimited
# Of Free Monthly Interac E-Transfers
Unlimited
Monthly Fee
$17.95
Excess Transaction Fee
N/A
Excess Interac E-Transfer Fee
N/A
Maximum Credit Card Annual Fee Waiver
$139
Maximum Welcome Bonus
$700
Promo End Date
May 28, 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 Unlimited Chequing Account product rating: 3.9 stars
At roughly half the price of the TD All-Inclusive Banking Plan, you might think that the TD Unlimited Chequing Account would have half as much to offer. This isn't necessarily true, though. Some of the premium perks are missing (free cheques, a safety deposit box rebate, etc.), but that's to be expected.
Our 3.9 star Genius Rating shows that users won't be disappointed with this account. And besides the fees for foreign ATM use, you don't have to worry about transaction limits with this account.
Learn more about our rating methodology.
The pros of TD Unlimited Chequing Account
These are the details that we think the TD Unlimited Chequing Account gets very, very right.
Pros
Completely unlimited transactions
Moving money from TD account to TD account? Do it as much as you like. On a shopping spree with your debit card? Go ahead and swipe that card over and over again. Sending Interac e-Transfers to your 3rd cousin twice removed for her baby shower? Send another one! There are no limits to the free transactions you can use with this account.
Free ATM withdrawals from any ATM in Canada
It's fairly common that when a bank says its account has "free ATM withdrawals," it means only withdrawals from its own branded machines. But TD allows you to use any ATM you want, anywhere in Canada. You may still have to pay a service fee to the ATM provider, but TD won't charge you a cent.
Valuable welcome bonus offered
It’s not uncommon for big Canadian banks to offer welcome bonuses to new customers, but they typically top out at around $400. The TD Unlimited Chequing Account offers up to $700 bonus cash when you open an account with them and complete a few tasks. This is one of the highest new bank account offers that we’re aware of.
Credit card fee rebate included
Nobody likes paying annual fees, and by opening a new TD Unlimited Chequing Account and also having one of the 5 (FIVE!) eligible TD credit cards, you can kiss that annual fee goodbye – for the first year, anyway. That's a value of up to $139. Add that to your welcome bonus and you'll notice that your wallet suddenly looks significantly fatter. Just note that some of these cards have annual fee rebates anyway, but having this account means you're not at the mercy of losing out on a limited time deal.
Earn 50% more Starbucks stars
The TD Unlimited Chequing Account has something for all you Starbucks lovers out there. When you link your debit card with your Starbucks account, you can earn double the rewards. Not a bad perk if you stop in for coffee regularly.
The cons of TD Unlimited Chequing Account
On the other hand, here are a few areas where we think the TD Unlimited Chequing Account needs improvement.
Cons
The minimum balance to waive the fee is quite high
The TD All-Inclusive Banking Plan requires a $5,000 balance to waive the $30.95 monthly fee. But if you have the TD Unlimited Chequing Account, which has fewer benefits and a fee that's about half that ($17.95), it requires a $4,000 minimum balance. That math seems slightly wrong.
No free cheques or safety deposit box waiver
While we realize that $17.95 isn't really a super hefty monthly fee, it's enough. And since this is a chequing account, it should come with at least a few cheques. We also think it should come with a bit of help towards a safety deposit box, even though it's not a safety deposit account.
High fees for using global ATMs
Contrasting the free ATM usage within Canada are the annoyingly pricey fees for using ATMs in other countries. ATMs in the USA and Mexico cost only $3 per use, but take out cash from a machine in any other country and you'll be paying $5 a pop – and that's going to add up quickly. However, we do appreciate that TD is upfront about these costs.
TD Unlimited Chequing Account alternatives
If you're not sure whether the TD Unlimited Chequing Account is for you, take a look at how it compares to similar banking products.
 |  |  | |
|---|---|---|---|
| Account | Scotiabank Preferred Package | BMO Performance Chequing Account | Coast Capital Elevate Chequing Account |
| Genius Rating | |||
| Why You Want It |  $100 GeniusCash + Get up to a $700* welcome bonus + Earn Scene+ points on all debit purchases. | $50 GeniusCash + Up to $700 in cash + a Walmart Delivery Pass Subscription for up to 12 months*. *T&Cs apply. | $125 GeniusCash + New members can get $400** when they open and use an Elevate Chequing Account.
|
| Minimum Balance To Waive Fee | $4,000 | $4,000 | N/A |
| # Of Free Monthly Transactions | Unlimited | Unlimited | Unlimited |
| # Of Free Monthly Interac E-Transfers | Unlimited | Unlimited | Unlimited |
| Monthly Fee | $16.95 | $17.95 | $16.95 |
| Excess Transaction Fee | N/A | N/A | N/A |
Show More | |||
| I Want This Deal See more Scotiabank products Compare | I Want This Deal See more BMO products Compare | I Want This Deal See more Coast Capital Savings products Compare |
FAQ
What is the TD Unlimited Chequing Account?
The TD Unlimited Chequing Account is a medium-tier chequing account from one of Canada's big banks. For $17.95 each month, you'll get unlimited transactions, free e-Transfers, and free use of ATMs in Canada.
Does the TD Unlimited Chequing Account have a minimum balance to waive the monthly fee?
Yes, account holders who maintain a minimum balance of $4,000 automatically have the $17.95 monthly fee waived. It's a waiver, not a rebate, so you won't see the monthly charge at all.
Is this an unlimited chequing account from TD?
This is truly an "unlimited" account. It provides unlimited transactions and Interac e-Transfers, plus unlimited use of Canadian ATMs without incurring charges from TD. One limit is that the credit card waiver is only for one year.
What are the TD Unlimited Chequing Account fees?
You'll pay a $17.95 monthly fee ($11.95 for seniors) if your balance is lower than $4,000, $3 for ATM usage in the U.S. or Mexico, and $5 for ATM use in other countries.
Does the TD Unlimited Chequing Account have a new account offer?
Yes, the TD Unlimited Chequing Account is currently offering a welcome bonus of up to $700 when you open a new account and complete 3 extra steps to claim the full offer.
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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