What you need to bring and the basic steps
TD Bank will ask for a government-issued photo ID (a driver's license, passport, or state ID card), proof of your current address, and your Social Security number. You can open an account in person at any TD Bank branch, online through their website, or by phone. The whole process usually takes 10 to 15 minutes in a branch, though online applications may take a day or two to complete.
When you arrive at the branch or start an online process, a banker or the website will ask you to choose an account type — typically a checking account, savings account, or both. They will explain the monthly fees, minimum balance requirements, and what services come with each. You will also set up a PIN (personal identification number) for your debit card and choose how you want to receive statements: by mail, email, or through their mobile app.
After you sign the account agreement and provide your information, TD Bank will verify your identity and run a check through ChexSystems, which is a database that tracks banking history. This check does not affect your credit score. Once approved, your account opens when ready in the branch, or within one business day if you applied online.
Key Takeaways
- Bring a government photo ID, proof of address, and your Social Security number to open an account in person or have them ready if you explore online.
- TD Bank offers checking and savings accounts with different fees and minimum balance requirements, so compare the options before choosing.
- You can open an account at a branch, online, or by phone, and the process takes 10 to 15 minutes in person or up to one business day online.
- TD Bank will check your banking history through ChexSystems, which does not affect your credit score and does not prevent you from opening an account if you have had past issues.
What counts as proof of address
TD Bank accepts a recent utility bill, lease agreement, mortgage statement, or government document with your name and current address. The document usually needs to be from the last 60 days, though some branches may accept older documents if you explain the delay. If you do not have any of these, ask the banker whether they will accept a bank statement from another institution, a pay stub, or a letter from a government agency.
If you are homeless or living in a shelter, tell the banker directly. Many TD Bank branches have worked with people in this situation and may accept a shelter address or a mail forwarding service address. Bring whatever documentation you have — even a shelter ID or a letter from a case manager can help.
Choosing between checking and savings accounts
A checking account is designed for money you use regularly. It comes with a debit card, the ability to write checks, and online bill pay. TD Bank's basic checking account has a monthly fee that is waived if you keep a minimum balance (the amount varies by account type) or set up direct deposit of your paycheck. Some checking accounts have no monthly fee at all.
A savings account is for money you want to set aside and grow. It earns interest — a small amount of money TD Bank pays you for letting them use your money. Savings accounts have fewer transactions allowed per month (usually six), and they do not come with a debit card or checkbook. The monthly fee is also waived if you meet a minimum balance.
Many people open both at the same time: a checking account for daily spending and a savings account for emergencies or goals. TD Bank will let you link them so you can move money between them easily through their app or website.
Opening an account online versus in person
Opening online is faster if you are comfortable uploading documents and do not have questions. You go to TD Bank's website, fill out the process, upload a photo of your ID and proof of address, and provide your Social Security number. The process is reviewed within one business day, and your account opens automatically once approved. You will receive a debit card in the mail within 7 to 10 business days.
Opening in person at a branch lets you ask questions and get help if something is unclear. A banker can explain the different account types, show you how to use the mobile app, and answer questions about fees. You walk out with a debit card the same day (or within a few days, depending on the branch). This route is better if you are new to banking or prefer talking to a person.
Opening by phone is an option if you cannot visit a branch and prefer not to use the website. Call the TD Bank customer service number on their website, and a representative will walk you through the process. You will still need to mail in or upload copies of your ID and proof of address, so the process takes about the same time as online.
What happens after your account opens
Once your account is open, TD Bank will send you a welcome packet by mail with your account number and initial debit card. If you opened in person, you may receive your debit card when ready. You can start using your account right away — you can deposit checks through the mobile app, transfer money from another bank, or deposit cash at a TD Bank ATM or branch.
Set up online banking and the mobile app as soon as possible. This lets you check your balance, transfer money, pay bills, and deposit checks by taking a photo. You will need to create a username and password, and TD Bank will send you a code by text or email to confirm your identity the first time you log in.
If you set up direct deposit (having your employer send your paycheck directly to your account), the fee on many checking accounts will be waived. Ask your employer's payroll department for the routing number and account number from your welcome packet — they will need both to set it up.
If you have had banking problems before
TD Bank uses ChexSystems to check your banking history, but a negative history does not automatically disqualify you. ChexSystems records things like unpaid overdrafts, fraud, or accounts closed due to mismanagement. If you have any of these on your record, tell the banker or mention it in your online process. Some TD Bank branches have second-chance programs or accounts designed for people rebuilding their banking history.
If you were denied, ask why. TD Bank must tell you the reason, and you have the right to dispute information in your ChexSystems report. You can request a free copy of your report at www.chexsystems.com and correct any errors. After you fix errors or wait for negative items to age off your record (usually after five years), you can explore again.
Fees and monthly costs to understand
TD Bank's checking accounts have monthly maintenance fees that range depending on the account type, but most are waived if you maintain a minimum balance, set up direct deposit, or keep a linked savings account. Some accounts have no monthly fee regardless. Ask the banker which account has the lowest fees for your situation — if you get paid by direct deposit, you might may have access to for a fee waiver automatically.
Beyond the monthly fee, watch for overdraft fees (charged if you spend more than you have), ATM fees outside the TD Bank network, and wire transfer fees. TD Bank does not charge to use their own ATMs, and they have thousands across the country. Using another bank's ATM usually costs $2 to $3.
Savings accounts also have monthly fees that are waived with a minimum balance. Interest rates on savings accounts are very low — usually less than 1% per year — but they are better than keeping cash at home.
Frequently Asked Questions
Can I open an account if I do not have a Social Security number?
TD Bank requires a Social Security number or Individual Taxpayer Identification Number (ITIN) to open an account. If you do not have either, you will need to obtain one first. An ITIN is available to non-citizens through the IRS, and the process takes several weeks. Call TD Bank customer service to ask whether they have any alternatives for your specific situation.
What if I do not have a government photo ID?
A government photo ID is the standard requirement, but if you do not have one, ask the banker what other documents they will accept. Some branches may accept a combination of documents — such as a birth certificate plus a utility bill plus a letter from a social service agency — instead of a photo ID. Bring whatever identification you have.
How long does it take to receive my debit card?
If you open an account in person at a branch, you may receive a debit card the same day or within a few days. If you open online or by phone, your debit card will arrive by mail within 7 to 10 business days. You can use your account before the card arrives by transferring money from another bank or depositing checks through the mobile app.
Can I open an account with someone else, like a family member?
Yes. A joint account lets two people own the same account and both access the money. Both account holders must be present in the branch (or both must complete the online process) and provide their own ID and Social Security number. Joint accounts are common for couples, parents and adult children, or siblings managing shared expenses.
What if I want to close my account later?
You can close your TD Bank account anytime by visiting a branch, calling customer service, or using the mobile app. Make sure your account balance is zero — withdraw or transfer any remaining money first. TD Bank will not charge you to close the account, but confirm that all pending transactions have cleared before you close it.