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Convenient banking solutions for newcomers

As you start settling in Canada, you may want to open chequing and savings accounts to help you manage your money. At TD, we offer multiple chequing and savings account options for you to choose from. As newcomers to Canada, you can take advantage of exclusive offers on selected accounts.

Choose an account that is right for you

  • TD Unlimited Chequing Account

    Special Offer

    This is our most popular account and ideal for convenient day-to-day banking. Enjoy unlimited transactions1 with a TD Unlimited Chequing Account.

     

    • Pay no monthly fee for one year (up to $203 value)2
    • No TD fees to use ATMs in Canada3
    •  Free money transfers with Interac e-Transfer®
    • Plus, get $400 Cash4 when you open a new account before February 25, 2025, and set up any 2 of the following services before  April 25, 2025:
      • Recurring Direct Deposit
      • Recurring Pre-Authorized Debit Payment of at least $50
      • Online bill payment of at least $50 on EasyWeb® or the TD app
    Open account

  • TD All-Inclusive Banking Plan

    Experience premium banking benefits with the TD All-Inclusive Banking Plan, including a small safety deposit box5, certified cheques, money orders, and personalized cheques6 at no extra cost.

     

    • Get monthly fee rebates if you keep $5,000 at the end of each day of the month7
    • Annual credit card fee rebate on select TD credit cards8
    • No TD fees at Non-TD ATMs or Foreign ATMs9
    Open account

  • TD Every Day Savings Account

    This savings account is ideal if you're starting to save or want frequent access to your funds.

     

    • Every dollar earns interest calculated daily
    • Unlimited free online transfers to your other TD Canada Trust deposit accounts10
    • $0 Monthly Fee
    • Automated Savings services so you can make saving part of your everyday life

  • TD ePremium Savings Account

    Save more with a high interest rate12 and free online transfers.13  

     

    • High interest rate on balances of $10,000 or more
    • Unlimited free online transfers to your other TD Canada Trust deposit accounts13
    •  $0 Monthly Fee
    • Automated Savings services so you can make saving part of your everyday life

Chequing vs. Savings accounts: Which account suits me better?

Below is a brief description of the difference between a chequing and savings account and why, depending on your financial goals, you may need to consider having both.

  • Chequing accounts

    This account is for everyday use where you can access your money for daily spending, paying bills, sending money and managing your cash flow. It's important to set one up when settling in Canada.

  • Savings accounts

    This account can help you set money aside for your short, medium or long-term goals. Savings accounts can also help you earn interest on the money you deposit, so you can grow your savings faster.

Features for TD personal accounts

  • TD MySpend

    Paired with your TD app, instantly keep track of your monthly spending.14

  • TD Fraud Alerts

    Get text messages to your mobile when we detect suspicious activity made with your TD Access Card for your personal banking accounts.15

  • TD Mobile Deposit

    Deposit cheques as soon as you receive them so you can spend more time doing the things you want.16

  • Manage Your TD Access Card

    Instantly lock your TD Access Card while maintaining pre-authorized payments, bill payments and transfers.

Open a bank account before you arrive

If you're currently a resident of China or India and are planning to move to Canada, here are the steps you need to take to open a bank account up to 75 days before your arrival.

Make sure you have your Canadian Immigration Visa ready when you call.

Upon arrival, visit a branch to activate your new bank account.

Bring 1 of the following pieces of residency identification with you:

  • Permanent Resident Card
  •  Immigrant Visa and Record of Landing (IMM Form #1000)
  • Confirmation of Permanent Residence (IMM Form #5292/5688) or Temporary Work Permit (IMM Form #1442/1102) or Study Permit (IMM Form #1208)

*International Students will need Proof of enrollment in a post-secondary program.

Frequently asked questions

Before opening a bank account, here are some things to consider:

  • Are there any fees associated with the account?
  • Are you using the account to save money or to use on everyday purchases?
  • Are there bonus offers you can take advantage of?

At TD, we offer several account types to choose from so you can find a bank account that suits your needs.

Although opening a bank account is not dependent on your credit history, it's still important to start building your credit history in Canada.

At TD, we understand that as a Newcomer, you may not have a home address upon arriving in Canada. When opening a bank account, we do require 1 piece of residency identification and 1 personal identification. You can provide us with the following:

1 residency identification:

  • Immigrant Visa and Record of Landing (IMM Form #1000), or
  • Confirmation of Permanent Residence (IMM Form #5292/5688) or Temporary Work Permit (IMM Form #1442/1102) or Study Permit (IMM Form #1208).

And 1 personal identification:

  • Valid passport
  • Canadian driver's licence
  • Canadian Government ID Card

Get in touch

  • Book an appointment

    Speak with a banking specialist in person at the branch closest to you or over the phone.

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  • Call us

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    1-866-222-3456 1-866-222-3456