Personal Finance

U.S. based TD Bank account now available for Canadians

  • Last Updated:
  • Nov 9th, 2017 2:34 pm
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Jr. Member
Jan 28, 2010
163 posts
18 upvotes
Montreal
rvs007 wrote:
Dec 12th, 2014 3:12 pm
Thanks for confirming angel_wing0. Does anyone know how quickly the TD Bank Visa Debit Card will get sent out once the Convenience Chequing account is opened?
if i recall correctly, mine took 2 weeks
Deal Guru
Aug 26, 2002
10250 posts
3044 upvotes
Toronto, ON
CanadaDealSeeker wrote:
Dec 12th, 2014 7:01 pm
you can do it through easyweb using VISA money transfer. not instant as RBC, but still helps saving time to do it on phone
+1... I'm told once I get my TD Bank Visa Debit card I can get set up with the Visa money transfer and do it online. Funds are transferred in 24-48 hours, including weekends.
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Mar 23, 2004
36388 posts
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Markham
rvs007 wrote:
Dec 12th, 2014 3:12 pm
Thanks for confirming angel_wing0. Does anyone know how quickly the TD Bank Visa Debit Card will get sent out once the Convenience Chequing account is opened?
around 2-3 weeks iirc.
「もし、奇跡を起こせたら……」
Jr. Member
Jan 28, 2010
163 posts
18 upvotes
Montreal
rvs007 wrote:
Dec 12th, 2014 7:08 pm
+1... I'm told once I get my TD Bank Visa Debit card I can get set up with the Visa money transfer and do it online. Funds are transferred in 24-48 hours, including weekends.
yes, but there is one catch. VISA money Transfer fee will be refunded on next month's 15th, whereas over the phone, it is instant.
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Mar 23, 2004
36388 posts
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pmcd wrote:
Jan 24th, 2015 12:52 pm
Just did a transfer yesterday and it was at most a few hours.

They seem to be moving to a charge on the Canadian side of $1.95/month in March,2015 unless you keep $3000 in the cross border account. It used to be waived with an all inclusive account so that is a bit disappointing.
?? Why are you quoting me? I am talking about on when you are going to get the debit visa, has nothing to do with transfers.

Yes sir, there is a big thread on it, discuss there: td-raising-rates-requirements-waived-fees-1646053/
「もし、奇跡を起こせたら……」
Jr. Member
Jan 28, 2010
163 posts
18 upvotes
Montreal
anyone know, how does the minimum balance waiver work?
does it check the closing balance of the day? or if you hit <$100 anytime during the month, it will charge you fee?

secondly, does it apply to "Available Balance" or "Account Balance"?
Member
User avatar
Jan 30, 2014
262 posts
25 upvotes
Ontario
CanadaDealSeeker wrote:
Jan 27th, 2015 10:52 pm
anyone know, how does the minimum balance waiver work?
does it check the closing balance of the day? or if you hit <$100 anytime during the month, it will charge you fee?

secondly, does it apply to "Available Balance" or "Account Balance"?
It is not based on the closing balance of the day, but on the actual "period" or end of the month. For my account I must make sure that by the 26th of each month I must have a minimum of $100 otherwise I will be dinged $15.00

I made the mistake of thinking that end of the month was the 30th of each month, I did some transfers and had > $100.00 balance on the around first week of December... by December 28th I had more than $100 balance on the account and they already charged me the monthly fee. I called customer service and they explained to me that If i had deposit the money say before the 26th, I wouldn't incur the fee.

It applies to "Account Balance".


Refernce: My own experience.
Jr. Member
Jan 28, 2010
163 posts
18 upvotes
Montreal
faihaus wrote:
Jan 28th, 2015 10:35 am
It is not based on the closing balance of the day, but on the actual "period" or end of the month. For my account I must make sure that by the 26th of each month I must have a minimum of $100 otherwise I will be dinged $15.00

I made the mistake of thinking that end of the month was the 30th of each month, I did some transfers and had > $100.00 balance on the around first week of December... by December 28th I had more than $100 balance on the account and they already charged me the monthly fee. I called customer service and they explained to me that If i had deposit the money say before the 26th, I wouldn't incur the fee.

It applies to "Account Balance".


Refernce: My own experience.
Thanks for the explanation. I'm not sure if 26th is universal or based on the date account was opened (maybe your account was opened on 26th).
Anyhow, transaction yesterday made my "Available Balance" below 100 (27th - what a timing if your explanation apply to all accounts :) , which i rectified right away.
"Account balance" was fine throughout, so as you say, if they monitor the account balance them i will be fine. let's see how it goes.
Member
User avatar
Nov 23, 2010
468 posts
42 upvotes
Montreal
On March 2nd the TDCT Borderless USD account will no longer be free with the All-Inclusive Account (formerly Select account).I will be closing the Borderless account.

What options do we have to transfer USD between Canada and USA for free?
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Member
User avatar
Sep 1, 2013
383 posts
89 upvotes
Mississauga
coopercold wrote:
Aug 19th, 2015 5:22 pm
Has anyone used Xoom in conjunction with their TD Bank Convenience or Premier account? I assume it should work since it's a real US bank.

Do you need to have a TD Canada Trust Borderless Account too? I would just want to transfer from my TDCT CAD$ chequing into my TD Bank US$ checking, if possible.

Thx!
I haven't used xoom, myself, but TD Bank should work with any money transfer system that uses the US banking networks.

Strictly speaking, you don't need a Borderless account to transfer between TD Canada Trust and TD Bank; the Daily Interest USD Chequing works, too. That account has no monthly fee, but a transaction fee of $1.50 unless you maintain a minimum monthly balance of $1500 (significantly lower than Borderless). If you don't need access to TD's Borderless rate for CAD-USD conversions (there are better rates available, anyway) and don't want their USD credit card (with a real US-domiciled card, it's pretty superfluous), better to go with the Daily Interest account, instead. If I'm going to maintain any kind of significant balance of USD anywhere, it's going to be on the American side where the amounts are insured. The CDIC doesn't cover Canadian bank balances in foreign currencies, so parking $3000 in a Borderless account to save $23.4/year in fees is not only wasteful, but potentially risky if something went really wrong.

Transferring from your CAD Chequing to US-based Chequing, while possible, isn't a great idea. You'd be subject to TD's exchange rates, and like all the big banks, they're atrocious. What I normally do if I want a relatively small amount (~$1000 USD or so) transferred is withdraw the CAD, take it to a nearby exchange place that has decent rates, deposit it back into my USD account, then go online to do the transfer to TD Bank, N.A. In the future, if Zenbanx enables withdrawal of USD to Canadian-based USD accounts, then they could become an option for me.
Member
User avatar
Sep 1, 2013
383 posts
89 upvotes
Mississauga
coopercold wrote:
Aug 20th, 2015 9:23 am
Thank you for your thoughtful and considered response. I appreciate it.

I opened a TD Bank Convenience account last night. I initiated a link between the new account and my PayPal account. But now I'm wondering - how will I know the deposit accounts? I can't sign up for TDB online banking until I get my Visa debit in the mail, which could take a couple of weeks. I can't see my TDB account in my TDCT EasyWeb either. When should I be able to see the account in EasyWeb?
You shouldn't need to wait for your Visa Debit card in order to sign up for online banking. I was able to sign up over the phone a day or two after opening the account (I opened it online, and then called TD's Cross Border phone line to make an initial deposit from my Canada Trust account). The only catch was that I needed to wait for my initial deposit to actually show up in the account so they could have me verify the amount it to help ensure I was the account owner. Once that was done they set up online banking for me in a few minutes without having to go through the online registration process, and about a week later a link to the US Online Banking showed up in my EasyWeb.
Member
Aug 6, 2012
247 posts
393 upvotes
AURORA
Do I use my Canadian address to sign up? Can I change the billing address on the Visa Debit to my US address?
Deal Addict
User avatar
Nov 25, 2010
1164 posts
326 upvotes
Kanada
Has anyone opened the US based TD bank account online ? When I opened mine online, it gave me a weird account number at the completion page it starts with "x-" and then 4 digits as the account number.

I called TD Bank US about this and to get my account number and they said that the account number may show up like that because it is linked to my TD Canada account.


Any recent feedback on opening a TD US Bank account online ?


Thanks
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Deal Addict
Feb 20, 2006
1131 posts
27 upvotes
Vancouver
For anyone who opened the account online, do they mail out some stuff to sign, or is the process fully online?

If by phone, do they mail stuff?

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