You can close most TD Bank accounts online through your account settings, but the process depends on your account type and balance
TD Bank lets you close checking and savings accounts through their online banking portal without calling or visiting a branch. The steps take about five minutes: log in, navigate to account settings, select the account you want to close, and confirm. The bank will process the closure within one to three business days.
Not every account type can be closed online. Money Market accounts, CDs, and IRAs have restrictions — some require you to call customer service or visit a branch. If your account has a negative balance or pending transactions, TD will ask you to resolve those first. The bank also needs to know where to send any remaining funds, so you'll provide routing and account details for a transfer or request a check.
Before you close, check for automatic payments or direct deposits tied to the account. TD won't stop them automatically, and failed transactions can trigger overdraft fees on other accounts or cause missed bill payments.
Key Takeaways
- TD Bank allows online closure for most checking and savings accounts through your online banking dashboard, completed in one to three business days.
- Money Market accounts, CDs, IRAs, and some specialty accounts cannot be closed online and require a phone call or branch visit.
- You must have a zero or positive balance and no pending transactions before closing; TD will ask you to specify how to receive remaining funds.
- Cancel any automatic payments or direct deposits linked to the account before closure to avoid failed transactions and fees.
Steps to close your account online
Log into TD Bank's online banking portal using your username and password. On the dashboard, look for "Account Settings" or "Manage Accounts" — the exact label varies depending on whether you're using the desktop site or mobile app. Select the account you want to close from your list of accounts.
Click on the account and scroll to find the option labeled "Close Account" or "Account Closure." TD will show you the current balance and ask you to confirm that you want to proceed. If your balance is positive, you'll be asked how you want to receive the funds: transfer to another bank account (you'll need the routing number and account number) or a mailed check.
Review the closure summary, which will list the account number, final balance, and method of fund transfer. Confirm the closure. TD will send a confirmation email to the address on file. The account will be marked for closure when ready, but the bank processes the actual closure within one to three business days.
Account types that require a phone call or branch visit
TD Bank does not allow online closure for CDs (certificates of deposit), even if they have matured. You must call TD Bank customer service at 1-800-937-8372 or visit a branch to close a CD account. The bank wants to confirm you understand any early withdrawal penalties if the CD hasn't reached its maturity date.
IRA accounts — both Traditional and Roth — cannot be closed online. Closing an IRA involves tax and reporting considerations, so TD requires you to speak with a representative or visit in person. Money Market accounts also require a phone call or branch visit for closure.
If you have a TD Visa or Mastercard linked to your checking account, closing the checking account does not close the credit card. You'll need to close the card separately through the credit card portal or by calling the card services number on the back of your card.
What to do with automatic payments and direct deposits before closing
Before you close your account, log into any services that send money to or pull money from it. This includes payroll direct deposits, bill payments, subscription charges, insurance premiums, and loan payments. Update each one with your new bank account details or cancel them entirely.
TD does not automatically redirect or cancel these transactions when you close an account. If a direct deposit hits a closed account, the employer's payroll system will typically reject it and send it back, which can delay your paycheck by several days. If a bill payment tries to pull from a closed account, it will fail, and you may be charged a late fee by the creditor.
Give yourself at least one full pay cycle or billing cycle to make these changes before you close the account. If you're unsure which services are connected to the account, check your last three months of statements for deposits and withdrawals.
What happens to your remaining balance
If your account has a positive balance when you close it, TD will transfer or mail the funds according to your instructions. If you chose a transfer to another bank account, the funds typically arrive within one to three business days. If you requested a check, TD will mail it to the address on file — this usually takes five to seven business days from the closure date.
If your account has a negative balance (you owe the bank money), you cannot close the account online. You'll need to bring the account to zero by depositing funds or calling customer service to arrange a payment plan. Overdraft fees, monthly maintenance fees, or other charges can create a negative balance even if you thought the account was empty.
Once the account is closed, TD will no longer charge monthly maintenance fees. However, any fees that were assessed before the closure date will still be deducted from your final balance.
Timing and what to expect after closure
The online closure process is when ready on your end — you'll see a confirmation screen and receive an email within minutes. Behind the scenes, TD takes one to three business days to fully process the closure. During this window, the account is marked as "pending closure" in their system. You can still see the account in your online banking dashboard, but you cannot make deposits or withdrawals.
After the closure is complete, the account will disappear from your account list. You'll receive a final statement by mail showing the closure date and the final balance. Keep this statement for your records, especially if you closed the account due to fraud or dispute.
If you need to reopen the account later, you can do so by visiting a branch or calling customer service. TD may allow you to reopen within a certain window (typically 30 to 90 days), but this is not may provide. Opening a new account is usually faster than reopening a closed one.
Frequently Asked Questions
What if I close my account but still have pending transactions?
TD will not let you close an account with pending transactions. You'll see an error message asking you to wait for them to clear. Pending transactions typically clear within one to two business days. Once they're gone, you can retry the closure.
Can I close my TD Bank account if I have a negative balance?
No. You must bring the account to zero or positive before closing. Deposit funds to cover the negative balance, or call TD customer service at 1-800-937-8372 to discuss payment options. Once the balance is resolved, you can close online.
Will closing my account hurt my credit score?
Closing a checking or savings account does not affect your credit score. Credit scores are based on credit accounts like credit cards and loans, not deposit accounts. Closing a TD credit card, however, may have a small impact on your credit utilization ratio.
How do I close my account if I'm outside the United States?
If you're traveling or living abroad, you can still close your account online through TD's portal as long as you have internet access and can log in. If you cannot access online banking, call TD customer service at 1-800-937-8372. International calls may incur charges depending on your phone plan.
What if I forgot to cancel a subscription before closing my account?
Contact the subscription service when ready and provide your new payment method or request cancellation. If the charge attempts to post to your closed account, it will fail, and the merchant may contact you about the failed payment. Respond quickly to avoid late fees or service interruption.