The fastest way to close a TD account is to call their customer service line or visit a branch in person
TD Canada Trust handles account closures by phone, in branch, or online depending on your account type. You do not need to visit a branch if you call — TD can process most closures over the phone within minutes. The key is having your account number ready and confirming that any outstanding cheques have cleared and automatic payments have been redirected.
If you have a mortgage, line of credit, or investment accounts with TD, closing your chequing or savings account does not automatically close those products. You will need to address each one separately, or they will remain open and may carry monthly fees.
The process itself is straightforward: confirm your identity, state that you want to close the account, arrange for any remaining balance to be transferred or withdrawn, and confirm the closure date. TD will send you written confirmation by mail within a few business days.
Key Takeaways
- Call TD customer service at 1-866-222-3456 (toll-free) or visit any TD branch to start a closure — you do not need an appointment.
- Empty your account before closing by transferring the balance to another bank or withdrawing cash, since TD will not hold funds after closure.
- Stop or redirect any automatic bill payments, direct deposits, or recurring transfers at least one week before your closure date.
- Confirm that all cheques you have written have cleared before you close, or they may bounce after the account is closed.
- If you have a mortgage, credit card, or line of credit with TD, those accounts remain open separately and must be closed individually if you want them closed.
Steps to close your account before you call or visit
Start by reviewing your account activity for the past month. Look for any automatic payments, subscriptions, or recurring transfers that are still active. These need to be stopped or moved to your new bank before you close the account — if they try to process after closure, they will fail and may trigger overdraft fees or late payments on bills.
Check your chequebook and any pending cheques. If you have written cheques that have not yet cleared, wait until they do before closing. You can call TD to ask which cheques are still outstanding, or log into online banking to see recent transactions. Once a cheque clears, it will show as a debit on your statement.
Arrange where your remaining balance will go. You can transfer it to another bank account (yours or someone else's), withdraw it as cash, or ask TD to issue a bank draft. If you have a small balance under $100, some people straightforward withdraw it in cash. For larger amounts, a transfer to your new bank is faster and safer.
If you receive direct deposit (paycheque, benefits, or other regular deposits), contact your employer or the organization sending the deposit and provide your new bank details. This usually takes one to two pay cycles to take effect, so do this before you close your TD account.
How to close your account by phone
Call TD Customer Service at 1-866-222-3456 (available Monday to Friday, 8 a.m. to 8 p.m. Eastern Time, and Saturday 9 a.m. to 4 p.m. Eastern Time). Have your account number and a piece of government-issued ID ready. The representative will verify your identity by asking security questions.
Tell them you want to close your account and confirm the account type (chequing, savings, or both). They will ask whether you have any outstanding cheques or automatic payments. Be honest about this — if you say no and then a cheque bounces after closure, TD will not reverse the fee.
Provide instructions for your remaining balance. You can give them another bank account number to transfer the funds to (you will need the transit number, institution number, and account number), or you can ask them to hold the balance for you to pick up as a bank draft at a branch. Transfers typically take one to three business days.
Confirm the closure date. TD will usually close the account the same day or the next business day. Ask the representative to email or mail you a confirmation letter with the closure date and final balance. Keep this for your records.
How to close your account in person at a TD branch
Visit any TD Canada Trust branch with a piece of government-issued photo ID and your account number. You do not need an appointment. Tell the teller you want to close your account and provide the same information you would over the phone: confirmation that cheques have cleared, that automatic payments have been stopped, and where your remaining balance should go.
If you want to withdraw your balance in cash, the teller can do this when ready up to your daily withdrawal limit. If your balance exceeds the limit, you can withdraw what you can and ask them to transfer the rest to another account or issue a bank draft. Bank drafts are issued on the spot and can be deposited at any bank.
Ask for a written closure confirmation before you leave the branch. This should show the account number, closure date, and final balance. If the teller does not offer one, ask them to print it from their system. You will also receive a mailed confirmation within a few business days.
What happens to linked accounts and products
If you have a TD credit card, mortgage, line of credit, or investment account, closing your chequing or savings account does not affect them. These are separate products and will remain open. You will continue to receive statements and may be charged monthly fees if they have a fee structure.
If you want to close a credit card, call the credit card customer service line at 1-800-622-8732 and confirm that your balance is zero before requesting closure. For mortgages or lines of credit, contact the lending department — these cannot be closed by phone in most cases and may require a visit to a branch or a formal written request.
If you have a TD investment account (RRSP, TFSA, or non-registered), contact TD Direct Investing or your investment advisor. These accounts have different closure procedures and may have tax implications if you withdraw funds, so confirm the process before you proceed.
Timeline and what to expect after closure
The account closure itself is when ready or next-business-day once you have confirmed the details. However, any transfers of your remaining balance take one to three business days to appear in your new account. If you requested a bank draft, it is issued the same day and can be deposited when ready at any bank.
You will receive a final statement by mail showing the closure date and any final transactions. This usually arrives within five to ten business days. Keep this statement for your records, especially if you had automatic payments or recurring transfers that you needed to redirect.
After closure, any attempt to use the account (a cheque, an automatic payment, or a debit card transaction) will be declined. If a cheque is presented after closure, it will bounce and the person who wrote it may face a returned-cheque fee. This is why confirming that all your cheques have cleared is important.
If you closed the account but forgot to redirect a bill payment, contact that company when ready and provide your new bank details. Most utilities, insurance companies, and subscription services can update your payment method within one business day.
If you have a joint account
If the account is held jointly with another person, both account holders must consent to closure. Call TD or visit a branch together, or one person can call and provide written authorization from the other account holder. TD will ask for a signed letter from the other owner confirming they agree to close the account.
Before closure, confirm how the remaining balance will be split. If the account is in both names equally, you can request that TD transfer half to each person's account, or you can withdraw the full amount and split it yourselves. Get this in writing from both account holders to avoid disputes later.
Frequently Asked Questions
Can I close my TD account online?
TD does not offer account closure through their online banking portal. You must call customer service or visit a branch in person. This is a security measure to confirm your identity and may support you are not closing the account fraudulently.
What if I have a negative balance or overdraft?
You cannot close the account until the negative balance is paid. Transfer funds from another account to bring the balance to zero, or deposit cash at a branch. Once the balance is positive, you can proceed with closure.
Do I lose my banking history after I close the account?
No. TD keeps records of closed accounts for seven years. You can request statements or transaction history by calling customer service, even after the account is closed. This is useful for tax purposes or if you need proof of past payments.
Will closing my account affect my credit score?
Closing a chequing or savings account does not affect your credit score. Credit scores are based on credit products like credit cards, mortgages, and lines of credit. Closing a bank account has no impact on your credit report.
How long does it take to close a TD account?
The closure itself takes minutes once you have confirmed the details. Transfers of your remaining balance take one to three business days. You will receive written confirmation by mail within five to ten business days. The entire process from start to finish is usually complete within two weeks.