Guide to TD Business Accounts
Guide to TD Business Accounts
The Toronto-Dominion Bank, or TD Bank, is a world-leading financial services firm with over CAD 1.9 trillion in assets (July 2023) and 16 million active online and mobile customers. The bank has established itself as a beacon of reliability and innovation in the banking landscape, offering a suite of business accounts tailored to meet the diverse needs of modern businesses. In this comprehensive guide, we delve into the world of TD Business Accounts, exploring their features, benefits, and how they can empower entrepreneurs to achieve their financial goals.
TD Business Accounts
TD offers a variety of business accounts for businesses of all sizes. This includes Chequing and Savings accounts and special US Dollar accounts for businesses handling cross-border transactions in a foreign currency.
TD Business Chequing Accounts
TD Chequing Accounts fall into the Basic Business, the Everyday Business, or the Unlimited Business Plan. The Plans are tailored for entrepreneurs at different levels, with the most basic account accessible at just $5 per month.
The types of Business Chequing accounts offered by TD Bank in Canada and their features are as follows:
| Plan | Monthly Fee | Minimum balance for Fee Rebate | Deposit Items | Cash Deposits | Transactions | Interac e-Transfer transactions |
|---|---|---|---|---|---|---|
| TD Basic Business Plan | $5 | NA | 5 | 5 | - | |
| TD Everyday Business Plan A | $19 | $20,000 | 50 | $5,000 | 20 | 2 Free transfers per month |
| TD Everyday Business Plan B | $39 | $35,000 | 50 | $5,000 | 60 | 2 Free transfers per month |
| TD Everyday Business Plan C | $72 | $45,000 | 50 | $5,000 | 120 | 2 Free transfers per month |
| TD Unlimited Business Plan | $125 | $65,000 | Unlimited | Unlimited | Free |
TD Business Savings Account
TD Bank's Business Savings Account allows entrepreneurs to earn interest on their investments at competitive rates. Their fees and features are as follows:
| Plan details | Fees |
|---|---|
| Transfer to and from another TD Canada Trust Account | Free |
| Deposits/ Credits | $1 each |
| Withdrawals/ Debits | $5 each |
| Monthly Cash deposit | $2.5 per $1,000 |
| Deposit Items | $0.22 each |
US Dollar Every Day Business Plans
The US Dollar Business Plans allow Canadian entrepreneurs to conduct and receive transactions in US Dollars. The types of Plans, their fees, and features are as follows:
| Plan | Monthly fee | Min balance for rebate | Free Transactions per month | Additional transaction fee | Deposit items per month | Cash Deposits per month |
|---|---|---|---|---|---|---|
| Every Day A | USD 19 | USD 20,000 | 20 | USD 1.25 each | 50 | USD 5,000 |
| Every Day B | $39 | $35,000 US | 60 | USD 1.25 each | 50 | USD 5,000 |
| Every Day C | $72 | $45,000 US | 120 | USD 1.25 each | 50 | USD 5,000 |
| US Dollar TD Unlimited Business Plan | $125 US | $65,000 US | Unlimited | - | Unlimited | - |
Advantages of Banking with TD
In today's rapidly evolving business landscape, having the right financial partner is essential for success. TD Bank's Business Accounts offer a comprehensive suite of banking solutions tailored to meet the diverse needs of businesses of all sizes and propel them toward success. Features like their user-friendly online and mobile banking platforms empower business owners to manage their finances anytime, anywhere, while also allowing them to personalize their banking experience to suit their needs. Their team of experienced business advisors and relationship managers can also help with strategic insights and support, vital educational resources, networking opportunities, and industry insights paramount for success in this competitive business world.
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