Personal Finance

Avoid paying Chequing fees and keep TD

  • Last Updated:
  • Dec 30th, 2019 11:37 am
[OP]
Sr. Member
Apr 14, 2006
614 posts
373 upvotes
St Johns

Avoid paying Chequing fees and keep TD

Looking for opinions, I have all my investments with TDW, don’t want to pay the Chequing fees or keep money in the account.

Want to hear your experience using one of the free Chequing accounts (eg simplii) as a ‘hub’

Hoping for something simple to transfer money from and to TD
12 replies
Member
Mar 7, 2008
421 posts
99 upvotes
If you do not need withdraw money, you can open 'TD Every Day Savings Account', and use it as chequing account.
You only have 1/mo to withdraw money free. If you need more, pay $3 each.
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Newbie
Jun 25, 2012
26 posts
13 upvotes
MONTRÉAL
Open a LOC account, and use it like checking account. I closed my TD checking account, and use LOC. It is very easy.
[OP]
Sr. Member
Apr 14, 2006
614 posts
373 upvotes
St Johns
tryitagain wrote: Open a LOC account, and use it like checking account. I closed my TD checking account, and use LOC. It is very easy.
including payroll ? what about atm?
Sr. Member
Dec 22, 2007
596 posts
302 upvotes
Mississauga
not with TD but CIBC now will waive account fees with 100,000 invested and give a free chequing account.
Sr. Member
Jul 16, 2019
715 posts
730 upvotes
mouseswimming wrote: If you do not need withdraw money, you can open 'TD Every Day Savings Account', and use it as chequing account.
You only have 1/mo to withdraw money free. If you need more, pay $3 each.
This thread has a longer discussion of this.
Moderator
User avatar
Mar 23, 2004
41953 posts
8014 upvotes
Markham
tryitagain wrote: Open a LOC account, and use it like checking account. I closed my TD checking account, and use LOC. It is very easy.
+1, have almost all of the benefits of the AI account without the $5k MMB requirement...though the only thing that hurts the most is no free emt.
[OP]
Sr. Member
Apr 14, 2006
614 posts
373 upvotes
St Johns
angel_wing0 wrote: +1, have almost all of the benefits of the AI account without the $5k MMB requirement...though the only thing that hurts the most is no free emt.
Yes, but I'm not it doesn't amount to even $10 bucks a month (for most people).
Deal Addict
Apr 13, 2006
1080 posts
115 upvotes
Mississauga
duderaf wrote: not with TD but CIBC now will waive account fees with 100,000 invested and give a free chequing account.
And CIBC will likely pay most transfer fees, and have $6.95/trade assuming the $100k is met.
[OP]
Sr. Member
Apr 14, 2006
614 posts
373 upvotes
St Johns
angel_wing0 wrote: +1, have almost all of the benefits of the AI account without the $5k MMB requirement...though the only thing that hurts the most is no free emt.
I tried Union gas they seem to detect is a line of credit ...
Member
Apr 17, 2016
314 posts
176 upvotes
Toronto
All of my banking was once with TD and I made the switch to Simplii. It was actually a lot less painful than I expected it to be. I still have easyweb set up with TD for my e-series stuff and it is linked to pull the cash from Simplii account automatically every pay day. Free interact e transfers, easy to use interface, mobile app. I am happy I made the change a few years back. I also have a few other accounts linked to Simplii so I can chase promo interest rates as required.
Deal Addict
Jan 27, 2016
1486 posts
836 upvotes
Edmonton
CIBC's smart plus account is the best account ive seen offered, you need $100k investment with them or $6k daily balance...waives pretty much everything and you get $120 towards visa premium fee credit

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