What is TD Bank's minimum balance to avoid fees?

TD Bank requires just a $100 minimum daily balance to waive the $5.99 monthly fee on TD Simple Checking and the $15 fee on TD Convenience Checking. This is the lowest balance requirement among all major US banks — Chase requires $1,500, Bank of America requires $1,500, and Wells Fargo requires $500. TD Beyond Checking requires a $2,500 average monthly balance to waive its $25 fee.

Does TD Bank have a free checking account?

TD Bank's TD Essential Banking account has no monthly maintenance fee and no minimum balance requirement. It is a basic account with no paper checks and limited services, designed for customers who want straightforward digital banking without fee concerns.

What is TD Bank's minimum balance for savings?

TD Bank savings accounts typically require a $300 minimum daily balance to avoid the $5 monthly fee, or the fee is waived by linking the savings account to a TD Bank checking account. TD Simple Savings has no minimum balance requirement to open.

What happens if I fall below TD Bank's minimum balance?

If your daily balance falls below $100 on a day in the statement period, TD Bank charges the monthly maintenance fee for that period — $5.99 for TD Simple Checking or $15 for TD Convenience Checking. The fee is calculated per statement period; one day below the threshold can trigger the charge.

Does TD Bank waive fees for students?

TD Bank offers TD Student Checking with no monthly fee for students under age 24. There is no minimum balance requirement. The account converts to TD Convenience Checking when the student turns 24 or graduates, at which point the $15/month fee and $100 balance waiver apply.

Can I avoid TD Bank fees with direct deposit instead of a minimum balance?

TD Convenience Checking and TD Simple Checking do not list direct deposit as a standalone fee waiver — the primary waiver is the $100 minimum daily balance. TD Beyond Checking waives its $25 fee with a $2,500 average monthly balance. Check with your branch for current promotional waivers, as TD Bank occasionally runs direct deposit incentives for new accounts.

TD Bank Minimum Balance Requirements 2026: Lowest Bar Among Major Banks

TD Bank’s minimum balance requirement is just $100 for its entry-level checking accounts — the lowest threshold among all major US banks. On a $15/month account, maintaining $100 eliminates the fee entirely. Here’s how every TD Bank account’s balance requirements work in 2026.

TD Bank Minimum Balance Requirements at a Glance

Account	Monthly Fee	Min Balance to Waive	Other Waiver
TD Essential Banking	$0	None — no fee	Basic account
TD Simple Checking	$5.99	$100 minimum daily balance	Age 62+ auto-waiver
TD Convenience Checking	$15.00	$100 minimum daily balance	Age 17–23 (TD Student Checking)
TD Beyond Checking	$25.00	$2,500 average monthly balance	—
TD Simple Savings	$5.00	$300 minimum daily balance	Link to TD checking
TD Growth Money Market	$12.00	$2,000 minimum daily balance	—

The $100 Threshold — Why It Matters

A $100 minimum daily balance is dramatically lower than what competing banks require:

Bank	Min Balance to Waive Monthly Fee	Monthly Fee
TD Bank (Simple/Convenience)	$100	$5.99–$15
US Bank (Smartly Checking)	$250 (or any debit purchase)	$6.95
Wells Fargo (Everyday Checking)	$500	$10
PNC (Virtual Wallet)	$500	$7
Chase (Total Checking)	$1,500 daily	$12
Bank of America (Advantage Plus)	$1,500 daily	$12
Citi (Access Account)	$1,500 avg monthly	$10

Worked example: A college graduate keeping $150 in their checking account pays $0/month at TD Bank. The same person would pay $12/month at Chase and $12/month at Bank of America.

TD Essential Banking: No Minimum, No Fee

TD Essential Banking is TD Bank’s truly free account — no monthly fee and no minimum balance requirement. Trade-offs include:

No paper check-writing ability
No overdraft fees (transactions decline rather than overdraft)
No overdraft protection linking
Debit card and mobile banking fully functional
FDIC insured up to $250,000

This account is well-suited for customers who primarily use a debit card and mobile app and don’t need checks or overdraft flexibility.

TD Simple Checking: $5.99/Month, $100 Waiver

Monthly fee: $5.99
Waiver condition: $100 minimum daily balance on every day of the statement period
Age 62+ waiver: Customers 62 and older have the fee automatically waived
Overdraft: $35/item (max 3/day); free overdraft protection from linked TD savings
ATM limit: $750/day; $3.00 non-TD ATM fee

TD Convenience Checking: $15/Month, $100 Waiver

Monthly fee: $15.00
Waiver condition: $100 minimum daily balance every day of the statement period
Student option: Free TD Student Checking for customers aged 17–23; converts to Convenience Checking at age 24
Overdraft: $35/item (max 3/day); free protection transfers from linked TD savings
ATM limit: $750–$1,000/day; $3.00 non-TD ATM fee

TD Beyond Checking: $25/Month, $2,500 Waiver

Monthly fee: $25.00
Waiver condition: $2,500 average monthly balance
Benefits: Unlimited non-TD ATM fee reimbursement, higher ATM limits ($1,000–$1,500/day), one free overdraft fee reversal per year, higher transfer limits
Interest: Earns interest on balances

Worked example: You maintain an average balance of $3,000 in TD Beyond Checking. The $25 fee is waived, and you receive unlimited ATM fee reimbursement — useful for frequent travelers who can’t always find a TD ATM along the East Coast.

TD Savings Minimum Balance

TD Simple Savings:

No minimum to open
$5/month fee, waived with $300 minimum daily balance or by linking to any TD checking account
Linking savings to checking is the simplest waiver — no balance requirement at all

TD Growth Money Market:

$2,000 minimum daily balance to waive $12/month fee
Earns tiered interest based on balance

Tips to Avoid TD Bank Fees

Maintain $100 in Simple or Convenience Checking — far easier than competing banks’ $500–$1,500 requirements
Open TD Essential Banking if you don’t write checks and want truly free banking
Use TD Student Checking if you’re between ages 17–23
Link savings to checking — eliminates the $5 savings fee automatically
Opt for age 62+ waiver — call TD customer service at 1-888-751-9000 to confirm eligibility

See the full TD Bank guide for fees, ATM limits, and routing numbers by state.

Written by WealthVieu

WealthVieu researches and writes data-driven personal finance guides using primary sources including the IRS, Bureau of Labor Statistics, Federal Reserve, and Census Bureau.

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