What you need to open a TD Bank account

TD Bank requires a government-issued photo ID, a Social Security number, and an initial deposit to open most accounts. The deposit amount varies by account type—some checking accounts need $25, while others require $100 or more. You can bring these documents into a branch in person, or you can start the process online and finish it in the branch if the bank asks you to verify your identity face-to-face.

If you don't have a Social Security number, you can use an Individual Taxpayer Identification Number (ITIN) instead. TD Bank will also ask for your current address and a phone number. If you're opening an account for someone under 18, a parent or guardian must be present and provide their own ID and Social Security number.

You'll also need to choose what type of account fits your situation. TD Bank offers checking accounts, savings accounts, and money market accounts. Checking accounts are for regular spending and bill payments. Savings accounts earn a small amount of interest and are meant for money you're not spending right away. Money market accounts typically require a higher minimum balance but pay more interest.

Key Takeaways

  • You need a government-issued photo ID, Social Security number, and an initial deposit to open an account at TD Bank.
  • The minimum deposit required depends on the account type you choose, ranging from $25 to $100 or more.
  • You can open an account online and complete verification in a branch, or do the entire process in person at a TD Bank location.
  • If you're under 18, a parent or guardian must be present with their own ID and Social Security number.
  • TD Bank offers checking, savings, and money market accounts, each designed for different banking needs.

Opening an account in person at a TD Bank branch

Walk into any TD Bank branch with your ID, Social Security number, and the initial deposit. Tell a representative you want to open an account and let them know which type. They will ask you to fill out a signature card and verify your information. The whole process usually takes 15 to 30 minutes.

The representative will explain the account features, fees, and how to use online banking and the mobile app. They'll give you a temporary debit card on the spot or mail one to you within 7 to 10 business days. You can start using your account when ready, even if your debit card hasn't arrived yet—you can withdraw cash at the branch or use the account number to set up direct deposit or bill payments.

Opening an account online

TD Bank's website lets you start an account process without visiting a branch. You'll enter your personal information, choose your account type, and review the terms. The online process takes about 10 minutes. At the end, TD Bank will tell you whether your account is approved when ready or whether you need to visit a branch to verify your identity in person.

If you're approved online, you can fund the account by transferring money from another bank account or by setting up direct deposit. Your debit card will arrive by mail in 7 to 10 business days. If TD Bank asks you to verify your identity in person, you'll need to visit a branch with your ID and Social Security number within a set timeframe—usually 30 days—or the process will be closed.

What happens after you open the account

Once your account is open, you can log into online banking or the TD Bank mobile app to check your balance, transfer money between accounts, pay bills, and deposit checks by phone camera. You'll receive a monthly statement showing all your transactions and any fees charged. TD Bank also sends alerts to your phone or email if you set them up, so you know when large transactions happen or when your balance gets low.

Your debit card works at any ATM that accepts Visa, and TD Bank has thousands of ATMs across the United States. You can also use your debit card to make purchases anywhere that accepts Visa. If you lose your card or think someone used it without permission, call the number on the back of your card or log into online banking to report it when ready.

Account fees and minimum balance requirements

TD Bank charges a monthly maintenance fee on most accounts, but the amount depends on which account you choose. Some accounts waive the fee if you keep a minimum balance—often $500 to $1,500—or if you set up direct deposit. Other accounts have no monthly fee at all. When you open your account, ask the representative which fees explore to your specific account and what you can do to avoid them.

If your account balance falls below the minimum, TD Bank will charge the monthly fee. If you overdraw your account—spend more money than you have—TD Bank charges an overdraft fee, usually around $35 per transaction. You can turn off overdraft protection so transactions are declined instead of charged a fee, but this means your card might not work if you don't have enough money.

If you have no credit history or a past banking problem

TD Bank uses ChexSystems, a banking history report similar to a credit report, to decide whether to open your account. If you've had problems with a bank in the past—like bouncing checks or leaving an account open with a negative balance—that information may appear on your ChexSystems report. TD Bank may deny your process or require you to visit a branch in person to explain.

If you're denied, you can request a copy of your ChexSystems report to see what information is being used against you. You have the right to dispute incorrect information. Some people who are denied at traditional banks open accounts at credit unions or online banks instead, which may have different approval standards. You can also try again at TD Bank after 6 to 12 months if you've resolved the past problem.

Frequently Asked Questions

Can I open a TD Bank account without going to a branch?

You can start the process online, but TD Bank may ask you to visit a branch to verify your identity in person before the account is fully active. Some applicants are approved entirely online, but this depends on your situation. If you're approved online, you never need to visit a branch.

How long does it take to open a TD Bank account?

In person at a branch, the process takes 15 to 30 minutes and your account is active when ready. Online, the process takes about 10 minutes, but you may need to visit a branch for identity verification, which can add a few days. Your debit card arrives by mail in 7 to 10 business days either way.

What if I don't have a Social Security number?

You can use an Individual Taxpayer Identification Number (ITIN) instead. Bring the same documents you would for a Social Security number, and tell the representative you're using an ITIN. The process is the same.

Can I open an account if I'm under 18?

Yes, but a parent or guardian must be present with their own ID and Social Security number. The parent or guardian becomes a joint owner of the account and can see all transactions. Once you turn 18, you can remove them from the account if you want.

What should I do if TD Bank denies my process?

Ask why you were denied—it's usually because of your ChexSystems report. Request a copy of your report to see what information is listed. If something is wrong, you can dispute it. You can also try again after 6 to 12 months, or look into credit unions or online banks that may have different standards.