What are the requirements to open a bank account at TD Bank in the United States?

Born from the merger between Bank of Toronto and The Dominion Bank, TD Bank was officially founded as it is known today in 1955. Its main headquarters are in Toronto, Canada, although it managed to establish itself in the United States in 2013, specifically in New Jersey. TD Bank’s reach in this country is concentrated on the East Coast, spanning at least 15 states.

Today, TD Bank stands out for having good online services and offering customer service on weekends in more than 1,200 locations, also for the absence of fees for foreign transactions, which makes it an excellent option for those who prefer to carry out their transactions in physical branches every day of the week and those clients who seek to reduce the charges for maintenance or for services associated with a bank account from the wide range that it offers.

What are the requirements to open an account at TD Bank?

As a bank with a long history, the services offered by TD Bank cover various needs for different clients : savings accounts, current or checking accounts, money market accounts, certificates of deposit, credit cards, among others.

In the specific case of checking or checking accounts —the product most requested by the average customer — the bank requires some basic requirements for opening them, either at a branch or online, through the official TD Bank website:

  1. Name of the applicant
  2. Legal address of the applicant
  3. Date of birth
  4. Social Security Number (SSN) or tax ID
  5. Driver’s license or other identification documents such as your passport or military ID may be required

Since the bank accepts tax identification, it is possible to open an account as an undocumented immigrant using the Personal Taxpayer Identification Number (ITIN) which is used by taxpayers who are not legal residents in the country to be able to declare their taxes before the Tax Service Internal Revenue Service (IRS).

What types of checking accounts does TD Bank offer?

Among the main advantages of TD Bank checking accounts, the fact that they do not require an initial deposit stands out, nor do they apply fees to operations in their ATM network, but they do apply in those ATMs belonging to other banks for a value of $3, while the overdraft involves an additional fee of $35. There may be other additional charges or benefits, but everything will depend on the type of account that the client processes:

TD Simple Checking – TD Bank’s most affordable checking account


  • Requires a fee of $5.99 per month, regardless of the customer’s balance.
  • It is one of the most accessible accounts on the market.
  • Offers benefits on other products within the same bank, such as a 0.25% discount on personal loans and mortgage loans.
  • Offers a discount on the first order of checks.
  • Offers free mobile banking.
  • Offers fraud alert 24 hours a day, 7 days a week.
  • Grants card replacements in case of loss just by requesting them at a nearby branch.

TD Convenience Checking – TD Bank’s Most Popular Checking Account


  • Considered the most popular account of this bank.
  • Requires a fee of $15 dollars per month that, unlike the previous one, can be avoided if the client maintains a minimum daily balance of $100 dollars during the month.
  • If the client is a student or young adult (between 17 and 23 years old), they do not pay a fee or require a minimum balance.
  • No ATM fee if customer maintains a minimum daily balance of $2,500.
  • Reimbursement of fees for 2 overdrafts per year.
  • Free incoming wire transfers and a refund for 1 outgoing wire transfer (domestic or international) per statement cycle.

TD Beyond Checking – Checking account with the highest benefits from TD Bank


  • It is the account with the greatest benefits, but also with the most maintenance requirements.
  • Requires a $25 fee that can be waived if the customer receives direct deposits each month of $5,000, has a minimum daily balance of $2,500, or a combined balance across all your TD accounts of $25,000 per month.
  • With this account, the customer can receive a refund of any fees they have for withdrawing cash at any out-of-network ATM, as long as they maintain the above minimum criteria.
  • Handles different percentage rates of return depending on how many funds the client has in their account.

In addition to the above options, TD Bank also offers a student checking account for ages 17 to 23, with no minimum balances or monthly fees, and the TD 60 Plus Checking account, especially designed for people over 60, as it provides the opportunity to earn interest, without the need to pay maintenance fees, as long as the customer maintains a minimum daily balance of $250 dollars.

However, while it offers great options, it’s important to consider that TD Bank is an especially convenient alternative where the bank has branches. In this sense, those people who are outside the reach of this bank can choose other options with greater national support, such as Wells Fargo, which stands out for its coverage in almost the entire United States.