You can open most TD savings accounts online, but not all of them
TD Bank lets you open a regular savings account through their website or mobile app without visiting a branch. The process takes about 10 to 15 minutes and you can fund the account when ready. However, some TD savings products — like their high-interest savings accounts or accounts tied to investment services — may require a phone call or in-person visit, so the specific account type matters.
The online route works best if you already have a TD checking account or if you're opening both at the same time. If you're a completely new customer to TD, you'll need a valid government ID and a Social Security number to start.
Key Takeaways
- TD's basic savings account can be opened online in about 10 to 15 minutes using their website or mobile app.
- You'll need a valid government ID, Social Security number, and an initial deposit — the minimum varies by account type.
- If you already have a TD checking account, the process is faster because TD already has your information on file.
- Some TD savings products require a phone call to open, so check the specific account details before you start.
- Your account is usually active within one business day, and you can begin using it to receive deposits or transfers right away.
What you need before you start
Gather these items before you open your browser: a valid government-issued ID (driver's license, passport, or state ID card), your Social Security number, and information about how you want to fund the account. TD accepts transfers from another bank, a debit card, or a check deposit through their mobile app.
You'll also need to decide on the account type. TD offers a basic savings account (sometimes called a "Savings Account" or "Youth Savings Account" depending on your age), and they may show you higher-interest options during the signup process. Read the details of each one — interest rates and minimum balances differ, and some accounts have monthly fees if you don't maintain a certain balance.
If you're under 18, you may need a parent or guardian to open the account with you, even online. TD's website will tell you this during the process if it applies to your situation.
The step-by-step process on TD's website
Go to TD Bank's website and look for the "Open an Account" or "Savings Accounts" section. You'll be asked to choose the account type first — select the basic savings account unless you have a specific reason to choose another product. Then click "Open Online" or the equivalent button for that account.
TD will ask you to enter your personal information: full name, date of birth, address, phone number, and Social Security number. They'll verify this information against their records. If you already have a TD account, this step is faster because they can pull your details automatically.
Next, you'll set up login credentials (username and password) and choose security questions. TD may also ask you to verify your identity by answering questions about your credit history — this is a standard anti-fraud step and takes a minute or two. After that, you'll choose your initial deposit method and confirm the account details.
Once you submit, TD usually sends a confirmation email within minutes. Your account number appears in that email and in your online banking dashboard. You can start using the account to receive transfers or direct deposits the same day, though it may take one business day for the account to be fully active in their system.
Opening an account on the TD mobile app
The TD mobile app has an "Open an Account" option in the main menu. The process is nearly identical to the website version — you'll enter the same information and go through the same identity verification. The app may be slightly faster if you're already logged in to your existing TD account, because it can pull your information automatically.
One advantage of the app is that you can deposit a check to fund your new account by taking a photo of the front and back. This is faster than waiting for a transfer from another bank, which can take one to three business days.
What happens after you submit your information
TD reviews your process within minutes to a few hours. You'll receive an email confirmation with your new account number and instructions for accessing your account online. At this point, your account exists and you can log in to see it, but it may not be fully activated for all transactions until the next business day.
If TD needs more information — for example, if they can't verify your identity through their standard questions — they'll contact you by phone or email. This is rare, but it can delay set up by a day or two. If this happens, respond as quickly as you can so your account can be completed.
Once your account is active, you can set up direct deposit, transfer money in from another bank, or deposit checks through the mobile app. You can also visit a TD branch to deposit cash if you prefer, though you don't have to.
When you might need to call or visit a branch instead
Some TD savings products — particularly high-yield savings accounts or accounts linked to investment services — are not available to open online. If you click "Open Online" and the button is grayed out or missing, that account type requires a phone call or branch visit.
You may also need to call if you're opening an account for a business, a trust, or another entity that isn't just a personal account. TD's online system is built for individual accounts, so these special situations need a representative to walk through the details.
If you're a non-U.S. citizen or don't have a Social Security number, you can still open an account, but you'll need to call TD or visit a branch in person. They can use an Individual Taxpayer Identification Number (ITIN) or other documentation instead.
Minimum deposit and account fees
TD's minimum opening deposit varies by account type and changes occasionally. Some basic savings accounts have no minimum, while others ask for $25 or $100. During the online signup, TD will show you the current minimum for the account you're choosing.
Monthly maintenance fees also vary. Many TD savings accounts have no monthly fee, but some charge $2 to $5 per month if your balance drops below a certain level — often $300 to $500. Read the fee schedule before you confirm your account, because you can choose a different account type if the fees don't work for you.
Frequently Asked Questions
Can I open a TD savings account online if I don't have an existing TD account?
Yes. You can open a savings account as your first TD account. You'll need a valid government ID, Social Security number, and an initial deposit. The process is the same as opening a second account, just slightly longer because TD has to verify all your information from scratch.
How long does it take for my TD savings account to be fully active?
Your account is usually active within one business day of opening it online. You can see it in your online banking dashboard when ready, but some features like transfers to external accounts may not work until the next business day.
What if I want to fund my account with a check?
Use the TD mobile app to deposit a check by photographing the front and back. The funds are usually available within one to three business days. You can also visit a TD branch to deposit cash or a check in person.
Can I open a TD savings account online if I'm under 18?
It depends on your age. TD offers youth savings accounts for minors, but you'll likely need a parent or guardian to open it with you. The online process will indicate whether a co-owner is required when you select the youth account type.
What if TD asks me to verify my identity during the signup?
TD may ask you questions about your credit history or previous addresses to confirm you are who you say you are. Answer honestly based on your records. If you can't answer the questions or TD can't verify you, they'll contact you by phone to complete the process manually.