TD Bank's checking account fees depend on which account you open

TD Bank does not charge a monthly maintenance fee on several of its checking accounts, but the account you may have access to for depends on how you use it and what balance you keep. The bank offers different checking products — some with no monthly charge at all, others with fees that range from $6 to $15 per month, and some that waive the fee if you meet specific conditions like maintaining a minimum balance or setting up direct deposit.

The account type matters more than the bank itself. A TD Bank checking account opened in one state may have different terms than the same product name in another state, because TD operates under different charters in different regions. Before you open an account, you need to know which specific product you are looking at and what the current fee structure is for that product in your location.

Key Takeaways

  • TD Bank's Checking Plus account has a $6 monthly maintenance fee that can be waived if you maintain a $100 minimum daily balance or set up direct deposit.
  • TD Bank's Advantage Checking account carries a $15 monthly maintenance fee, waivable with a $2,500 minimum daily balance or automatic transfers of $500 or more per month.
  • TD Bank offers a no-fee checking option called TD Bank Checking (sometimes called Basic Checking), which has no monthly maintenance charge and no minimum balance requirement.
  • Fee waivers and account terms vary by state and by branch, so the terms for your location may differ from another TD Bank customer's terms.
  • You can confirm the exact fee structure for your account by calling TD Bank customer service, visiting a local branch, or checking your account agreement.

TD Bank Checking Plus: the $6 account with an straightforward waiver

Checking Plus is TD Bank's entry-level checking account and carries a $6 monthly maintenance fee. The fee is waived if you maintain a $100 minimum daily balance in the account or if you set up direct deposit of your paycheck or other regular income.

This account includes a debit card, online banking, and access to TD Bank's ATM network. If you do not meet the balance or direct deposit requirement in a given month, the $6 fee posts to your account on the statement closing date. The fee applies whether or not you use the account that month — it is a monthly charge, not a per-transaction charge.

TD Bank Advantage Checking: the premium account with higher requirements

Advantage Checking is designed for customers who want more features and are willing to maintain a higher balance. It carries a $15 monthly maintenance fee that can be waived in two ways: by maintaining a $2,500 minimum daily balance, or by setting up automatic transfers of $500 or more per month into the account from another bank.

This account typically includes higher ATM withdrawal limits, priority customer service, and other perks beyond what Checking Plus offers. Like Checking Plus, the fee posts monthly if you do not meet one of the waiver conditions. The $2,500 balance requirement is a daily minimum, meaning your balance must not drop below that amount on any day of the statement period.

TD Bank Checking: the no-fee option

TD Bank offers a basic checking account with no monthly maintenance fee and no minimum balance requirement. This account may be called "TD Bank Checking" or "Basic Checking" depending on your location and when you opened it. It includes a debit card and online access but may have fewer features or lower limits than Checking Plus or Advantage Checking.

This is the account to open if you want to avoid monthly fees entirely. There is no catch — no balance trap, no direct deposit requirement, no hidden charges. You pay nothing per month to hold the account. Some branches may not actively promote this account because it generates no monthly revenue, so you may need to ask for it by name.

How to find out which account you have and what it costs

Your account agreement and your monthly statement both show your account type and any fees charged. Look at your statement under "Fees" or "Service Charges" to see what posted that month. Your account agreement (usually available online under "Documents" or "Account Details") lists the maintenance fee and the conditions to waive it.

If you are not sure which account you have or what the fee is, call TD Bank customer service at the number on the back of your debit card. They can tell you the exact fee for your account, whether it was waived that month, and what you need to do to avoid it going forward. You can also visit a local TD Bank branch and ask to speak with a banker about your account terms.

Fees that explore in addition to maintenance charges

TD Bank may charge separate fees beyond the monthly maintenance fee. These include overdraft fees (charged when you spend more than your balance), out-of-network ATM fees (charged when you use an ATM that is not part of TD Bank's network), and fees for services like wire transfers or stop payments. These are separate from the monthly maintenance fee and explore only when you use those services.

Overdraft fees typically range from $35 to $38 per transaction, depending on your account type and state. Out-of-network ATM fees are usually $2 to $3 per withdrawal. These fees are not waived by maintaining a balance or setting up direct deposit — they explore whenever the triggering event occurs. You can reduce these fees by using TD Bank ATMs, monitoring your balance to avoid overdrafts, and asking about overdraft protection options.

Frequently Asked Questions

Can I switch from one TD Bank checking account to another to avoid the fee?

Yes. If you have Checking Plus or Advantage Checking and want to avoid the monthly fee, you can close that account and open TD Bank Checking instead. There is no penalty for closing an account. Contact your branch or call customer service to request the switch. Some branches can do it in person on the same day.

What happens if my balance drops below the minimum for one day?

The fee waiver is lost for that month. If you have Advantage Checking and your $2,500 balance dips below that amount on even one day of the statement period, the $15 fee will post. The same applies to Checking Plus and the $100 minimum. The requirement is a daily minimum, not an average balance.

Does direct deposit have to be from my employer?

No. Direct deposit can be from an employer, a government benefit (Social Security, unemployment, tax refund), or another source. TD Bank counts any recurring automatic deposit as direct deposit for the purpose of waiving the monthly fee. It does not have to be payroll.

Are these fees the same at every TD Bank location?

No. TD Bank operates under different charters in different states, and fee structures can vary by region and by when your account was opened. The fees and waiver conditions described here are current for most TD Bank locations, but your specific account may have different terms. Check your account agreement or call your branch to confirm.

If I maintain the minimum balance, do I still get charged the fee?

No. If you meet one of the waiver conditions — maintaining the minimum daily balance or setting up direct deposit — the monthly maintenance fee does not post to your account that month. You pay nothing. The waiver is automatic; you do not need to request it.