TD Bank checking accounts charge monthly fees between $0 and $25, with account-specific minimums that are among the lowest of any major US bank. TD Simple Checking and TD Convenience Checking both require only $100 in minimum daily balance to waive their fees. That is significantly lower than Chase’s $1,500 threshold, Bank of America’s $1,500, and Wells Fargo’s $1,500. TD Bank also offers a genuinely fee-free option in TD Essential Banking with no minimum balance at all.
TD Bank Account Minimums at a Glance
| Account | Monthly Fee | Minimum to Waive | Balance Method | Other Waivers |
|---|---|---|---|---|
| TD Essential Banking | $0 | No fee | N/A | No minimum required |
| TD Student Checking | $0 | No fee | N/A | Ages 17–23 automatic |
| TD Simple Checking | $5.99 | $100 | Minimum daily | Age 62+ automatic |
| TD Convenience Checking | $15 | $100 | Minimum daily | Ages 17–23 (TD Student) |
| TD Beyond Checking | $25 | $2,500 | Average monthly | None |
| TD Simple Savings | $5 | $300 | Minimum daily | Linked TD checking account |
| TD Growth Money Market | $12 | $2,000 | Minimum daily | None |
The $100 Minimum in Context
The $100 minimum daily balance threshold on TD Simple Checking and TD Convenience Checking stands apart from every other major bank. To put it in practical terms: a customer maintaining $150 in their checking account pays no monthly fee at TD Bank. That same customer would pay $5.99 per month at US Bank (Smartly Checking), $10 per month at Wells Fargo (Everyday Checking), $12 per month at Chase (Total Checking), and $12 per month at Bank of America (Advantage Plus).
For customers who run low account balances but want to stay above the fee threshold, TD Bank’s $100 requirement is meaningfully easier to meet than the competition.
TD Essential Banking
TD Essential Banking has no monthly fee and no minimum balance requirement. The trade-off is that the account does not include paper checks. Transactions that would overdraft the account are declined rather than approved with a fee. This makes it a practical choice for customers who want straightforward digital banking without fee exposure, similar to Chase Secure Banking or Bank of America Advantage SafePass.
TD Simple Checking
TD Simple Checking charges $5.99 per month. The fee is waived by maintaining a minimum daily balance of $100 on every day of the statement period. Because TD Bank uses minimum daily balance, a single day below $100 triggers the fee for that month. The $5.99 fee is waived automatically for primary account holders aged 62 or older.
TD Convenience Checking
TD Convenience Checking charges $15 per month, also waived with a $100 minimum daily balance on every day of the statement period. The same single-day rule applies: one day below $100 means the $15 fee is charged for the full period. For account holders aged 17 to 23, TD Student Checking provides the same features with no monthly fee and no balance requirement.
TD Beyond Checking
TD Beyond Checking charges $25 per month, waived by maintaining a $2,500 average monthly balance. Unlike the Simple and Convenience accounts, Beyond Checking uses average monthly balance rather than minimum daily balance. A temporary dip mid-month is offset by higher balances on other days as long as the average stays at or above $2,500. The account includes benefits such as interest on balances and no fees on non-TD ATM transactions.
TD Bank Savings Account Minimums
TD Simple Savings charges a $5 monthly fee, waived by maintaining a $300 minimum daily balance or by linking the savings account to any TD Bank checking account. For most TD Bank checking account holders, the linked-account waiver makes Standard Savings effectively free regardless of the savings balance.
TD Growth Money Market charges $12 per month, waived with a $2,000 minimum daily balance. Like the Simple and Convenience checking accounts, this uses minimum daily balance rather than an average, meaning the balance must not fall below $2,000 on any single day during the statement period.
For current savings rates, see the TD Bank savings account guide.
How to Avoid TD Bank Monthly Fees
For TD Simple Checking and TD Convenience Checking, maintaining $100 or more in the account on every day is the only balance-based waiver. This is straightforward for most customers, but the minimum daily balance method means even a brief dip below $100 caused by a timed payment can trigger the fee.
Customers who regularly cut it close should consider TD Essential Banking, which carries no fee and no minimum. The only difference is the absence of paper checks and the overdraft decline policy. For customers who do not write physical checks, Essential Banking eliminates the fee risk entirely.
For a full breakdown of TD Bank charges including overdraft and ATM fees, see the TD Bank fees guide.
For a complete overview of TD Bank accounts, limits, and contact information, see the TD Bank complete guide.
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