Personal Finance Bank accounts

How to close a TD Bank account

Piyush Singh
Piyush Singh
25.09.23 (updated more than 1 year ago)
Read time 3 minutes

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.

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Table of Contents

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

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Sources

  1. TD Bank

  2. TD Bank

  3. TD Bank

  4. TD Bank

  5. TD Bank

  6. TD Bank

  7. TD Bank

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.

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