TD Changed their Checking Accounts

If you are banking with TD Canada Trust, make sure you check their updated checking account information.  Starting August 1st, 2011 they have increased the minimum balances (to waive the monthly fee) on ALL their checking accounts and also increased the fee’s associated each account.

You can read all their information here but I’ve also summarized it below. (Isn’t it sneaky the way they don’t include the fees in their summary table?)

Infinity Checking Account
monthly fee $12.95 $14.95
minimum balance to waive monthly fee $3,000 $3,500

Value Plus Checking Account
monthly fee $8.95 $10.95
minimum balance to waive monthly fee $2,000 $2,500

Value Checking Account
monthly fee $3.95
minimum balance to waive monthly fee $1,000 $1,500

If you got dinged with fees this month for not maintaining the new minimum balance, I recommend you fight it.

Call TD and plead your case (nicely), reminding them what a great customer you are and blah blah blah, and if they would be so kind as to waive the fee as a courtesy since didn’t realize the change in accounts.

It never hurts to ask, right? 😉

Note: I am not affiliated with TD Canada Trust.  I used to have the Value Plus Account and have since downgraded to the Value Account after I opened my Thrive Checking Account with ING Direct.  ING has no minimum balance and no fees.  The only reason I kept my TD account was to withdraw cash as their green machines are everywhere.



Filed under Finance

8 responses to “TD Changed their Checking Accounts

  1. I have a friend who’s ‘off the main grid’ and uses ING. Like you, I keep my TD for convenience (i.e. cheques, someone to speak with, ABMs etc.)

  2. OH this is news to me! I use TD Bank for my RRSP, Tax Free Savings Mutual Funds and chequing account.. 😦 Boo I guess I will be dinged for the service charge this month, but I will try to call and see if they waive it this month. 😦

    Thanks for the info!!!! 🙂

  3. GROAN.

    This is why I am thisclose to closing my checking account with TD and using my ING Thrive account for everything.. I’m almost all transferred over now, I just feel bad letting my TD cheques go to waste lol.

  4. @impulsesave

    Good post, FruGirl. It is really important to stay on-top of your bank’s policies regarding fees and minimum balance. Thanks for the heads-up!


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