If you no longer have a use for your TD Bank account, you can close it or transfer your funds to another bank. Read our full guide to closing your TD Bank account, including how to cancel your account and any fees you may be charged.
Looking for an easy alternative for your international spending? Wise has got you covered! Send your money at the standard mid-market rate with or without a bank account. But more on that later!
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How to close a TD Bank account
If you want to close your TD Bank account, you’ll need to call TD or visit your local branch.
However, if you want to change your account type, you can do this online via the TD Bank app. Simply select “Account Summary” and “Change Account Type” to browse and alter your banking plan.
We’ve put together some key information about closing your TD Bank account over the phone or in person.
Call EasyLine
Calling EasyLine is a simple process - and it means you can close your account from home. You’ll need to phone TD Bank at:
- English number: 1-866-222-3456
- French number: 1-800-895-4463
This option lets you transfer funds to or from another TD Canada Trust account - or you can have a draft issued, if necessary.¹
If you want to close your TD investment account, you’ll need to call TD Direct Investing and speak with an Investment Representative. You can call TD at:
- English number: 1-800-465-5463 or 416-982-7686
- French number: 1-800-361-2684 or 514-289-8439²
It’s important to remember that your Direct Investing account must have a zero balance before you can close it.³
Visit TD Canada Trust
You can also close your account by visiting your local TD Canada Trust branch. This is a good option if you have specific questions about closing your account, or if you’d prefer to speak to someone in person before completing your transfer.
TD Bank has branches across Canada. If you’re unsure about where to find your local bank, head to the TD website for a full list of options.⁴
How to close a TD account online
It isn’t possible to close TD Bank accounts online if you have money in your account, and you’ll need to call or visit a branch in person.
However, you can provide a written request to close your account if both of these options aren’t possible. This letter must include your account number, and you’ll need to sign it and have it notarized.
If you want to close a personal account with zero balance, you can do so via the TD App or TD Online Banking by:
- Sending an email request through your account
- Calling TD Customer Service at 1-888-751-9000
If you have a TD business account, you’ll need to visit a TD Bank branch to close your account, whether you’ve got a remaining balance or not.⁵
Is there a fee for closing a TD Bank account?
You won’t be charged for closing your TD Bank account. However, it costs 15 CAD to transfer your deposit account balance to another bank.⁶
If you no longer use your TD Bank Chequing Account or Savings Account, but you don’t want to transfer your funds, you can leave your TD account inactive. After 1 year, your account will be considered dormant.
TD Bank doesn’t charge dormancy fees, but after 10 years any Canadian dollars will automatically go to the Bank of Canada. You can contact TD Bank to reactivate your account or transfer your funds.⁷
Meet Wise - your international money transfer alternative
Wise is your money transfer alternative, whether you spend locally or globally. While changing banks can be a tedious process, this money service business has you covered.
You can use Wise with or without a bank account. You can also
- Send money at the mid market rate - no more currency conversion fees!
- No hidden fees - all about transparency
- Hold and convert your money to 40+ currencies including CAD, USD, EUR and GBP, send to 70+ countries, receive in 9 currencies
- Make the most of the Interac e-Transfer features on Wise
- Spend like a local with the Wise card when you travel abroad
- Use Google or Apple Pay to shop online using your phone
To start managing your money as a student, check out the Wise App on Google Play Store or the App Store!
Please see Terms of Use for your region or visit for the most up to date pricing and fee information.
Sources
Sources verified on 20 September 2023
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information. This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional. We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
