TD Bank charges a monthly maintenance fee on most checking and savings accounts, typically between $6.99 and $15 depending on the account type

TD Bank's maintenance fee is a monthly charge that appears on your statement unless you meet certain conditions to waive it. The fee varies by account: TD Bank Checking costs $6.99 per month, TD Bank Premier Checking costs $15 per month, and TD Bank Savings costs $5 per month. These fees are not automatic penalties — they are standard charges that TD Bank applies unless you take specific steps to avoid them.

The maintenance fee covers the cost of maintaining your account and the services TD Bank provides. Unlike overdraft fees or late fees, which you incur only when something goes wrong, maintenance fees appear on accounts that are in good standing. Over a year, these charges add up: a $6.99 monthly fee totals about $84 annually, and a $15 monthly fee totals $180.

Key Takeaways

  • TD Bank's maintenance fees range from $5 to $15 per month depending on whether you have a checking or savings account and which tier you choose.
  • You can waive most maintenance fees by maintaining a minimum daily balance, setting up direct deposit, or meeting other account-specific requirements.
  • Each account type has different waiver conditions, so the path to avoiding the fee depends on which TD Bank account you hold.
  • If you do not meet waiver conditions, the fee posts to your account monthly and reduces your balance.

How to waive TD Bank's maintenance fee

TD Bank offers several ways to avoid paying the monthly maintenance fee, though the exact requirements depend on your account type. For TD Bank Checking, you can waive the $6.99 fee by maintaining a minimum daily balance of $500, setting up at least one direct deposit per month, or maintaining a TD Bank linked savings account with a $500 minimum balance. If you are under 18 or a full-time student under 24, the fee is waived automatically.

For TD Bank Premier Checking, the $15 monthly fee is waived if you maintain a minimum daily balance of $2,500 or have a TD Bank linked savings or money market account with a $2,500 minimum balance. This account tier is designed for customers who maintain higher balances or want premium features like higher interest rates and priority customer service.

TD Bank Savings accounts charge $5 per month, waived if you maintain a $500 minimum daily balance. If your balance drops below $500 on any day during the month, the fee will post to your account. The key is that the requirement is a daily minimum, not an average — one day below the threshold triggers the fee.

What happens if you do not meet waiver conditions

If you do not maintain the required balance, set up direct deposit, or meet other waiver conditions, the maintenance fee posts to your account on a set date each month — usually around the same day each billing cycle. The fee is deducted directly from your account balance, which can push you into overdraft if your balance is already low.

Unlike overdraft fees, which occur only when you spend money you do not have, maintenance fees occur whether your account is active or dormant. If you have a TD Bank account that you rarely use and do not meet the waiver conditions, the fee will still be charged monthly. Over time, an unused account can be depleted entirely by maintenance fees.

Comparing TD Bank maintenance fees to other banks

TD Bank's maintenance fees are in the middle range compared to other national banks. Some banks, like Ally Bank and Charles Schwab, offer checking accounts with no monthly maintenance fee. Other national banks like Bank of America charge $12 per month for basic checking (waived with a $1,500 minimum balance or direct deposit), and Wells Fargo charges $10 per month for standard checking (waived with a $500 minimum balance or direct deposit).

The difference matters if you carry a low balance or do not receive direct deposit. A bank with no maintenance fee and no balance requirement eliminates this cost entirely. However, if you already maintain a $500 or $2,500 balance for other reasons, or if you receive direct deposit, TD Bank's fee may never apply to you. The real cost depends on your banking habits, not just the fee amount.

When maintenance fees post and how to track them

TD Bank posts maintenance fees on a monthly cycle, usually on the same date each month. You can find the exact date by checking your account agreement or calling TD Bank customer service. The fee appears as a line item on your monthly statement labeled as "Monthly Maintenance Fee" or similar language.

To track whether you are meeting waiver conditions, log into your TD Bank online account or mobile app and check your daily balance. If you are close to the minimum threshold, you can deposit funds before the end of the billing cycle to ensure you stay above it. Some customers set up automatic transfers from another account to maintain the minimum balance and avoid the fee.

Options if you want to avoid the fee

If you cannot or do not want to meet TD Bank's waiver conditions, you have several options. You can switch to a different bank that does not charge a monthly maintenance fee — many online banks and credit unions offer free checking with no balance requirement. You can also ask TD Bank whether a different account type might work better for your situation; sometimes a different tier has easier waiver conditions.

Another option is to use TD Bank only for specific purposes (like a linked savings account to waive a checking fee) and keep your primary checking account at a bank with no maintenance fee. Many people maintain accounts at multiple banks to take advantage of different features and fee structures.

Frequently Asked Questions

Can TD Bank waive my maintenance fee if I ask?

TD Bank may waive one or two months of maintenance fees as a courtesy if you call and ask, especially if you are a long-time customer or if the fee was charged in error. However, this is not may provide, and the bank will not waive ongoing fees. The permanent solution is to meet one of the stated waiver conditions.

Does the maintenance fee apply if my account is closed?

No. Once you close your account, no further maintenance fees are charged. However, if your account balance is low when you close it, the final maintenance fee may be deducted before the account closes, leaving you with a smaller refund or even a negative balance that TD Bank may pursue.

What if my direct deposit stops — will I start paying the fee?

Yes. If direct deposit is your waiver method and your employer stops sending deposits, you will need to meet a different waiver condition (like maintaining the minimum balance) or the fee will begin posting. Check your account regularly if your employment or income changes.

Is the maintenance fee the same for online and in-branch accounts?

TD Bank does not offer a separate online-only checking account. All TD Bank checking and savings accounts are subject to the same maintenance fees and waiver conditions, whether you manage them online or in person at a branch.