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Toronto-Dominion Bank


About bank

Toronto-Dominion Bank, also referred to as TD, is a huge Canadian-based multinational financial institution. Founded in 1955 in Toronto, Ontario, TD Bank has made it into the list of the largest Canadian banks in Canada in terms of total assets and market capitalization in 2021. Toronto-Dominion Bank is also among the top 10 North American banks.

The bank provides financial services to over 13 million clients in Canada, over 6.5 million — in the US, and more than 26 million — worldwide. Toronto-Dominion Bank and its subsidiaries operate through a number of branches — 1,091 in Canada and 1,200+ in the US. ATMs are also widely available in both countries. The Canadian division of Toronto-Dominion Bank is TD Canada Trust and the US division is TD Bank, N.A.

According to the website, TD is on a mission to enrich the lives of its customers, communities, and colleagues.


Toronto-Dominion Bank offers a range of financial products and services for individuals, businesses, financial institutions, and governments. TD has operations in North America, the Caribbean, Europe, and Southeast Asia.

There are different ways to bank at Toronto-Dominion Bank — online, through the TD mobile apps, by phone, through an ATM, or at your local branch. The great thing about the TD branches is their long business hours — many of them work Sundays.

For Canadians working in the US or traveling there, Toronto-Dominion Bank offers cross-border banking solutions. These solutions include Canada-based accounts at TD Canada Trust, U.S.-based accounts at TD Bank, and TD Canada Trust credit cards. You can easily check the balances of your accounts and transfer funds between them in any way that is convenient for you — online, by phone, through an ATM, or in person at a local branch.

Pros and cons

There are numerous benefits of Toronto-Dominion Bank for individuals and businesses. Let’s outline the main pros:

  • Personal banking solutions for different needs — daily spending, borrowing, saving, investing, and more

  • Solutions for companies of different sizes and growth stages — for day-to-day banking, financing, investing, making and receiving payments, and global operations

  • A variety of ways to bank — through digital banking (online banking account and mobile apps), by phone, through an ATM, or at a local TD branch

  • A great number of ATMs across Canada and the US

  • Bank accounts and credit cards with favorable conditions for Canadians in the US

Still, there are certain drawbacks of TD bank to be aware of:

  • To avoid monthly fees on most banking accounts, you will have to maintain the minimum balance

  • When using a non-TD ATM, be ready to pay a $3 fee

  • Savings accounts offer relatively low APYs compared to other financial institutions

  • Overdraft service may cost you up to $35 per transaction, with up to 3 overdraft fees per day allowed


Here are the personal banking products offered by Toronto-Dominion Bank:

  • Checking accounts — accounts for day-to-day banking with different minimum balance requirements and perks included

  • Savings accounts — interest-bearing deposit accounts with annual percentage yield (APY) ranging from 0.01% to 1%

  • Certificates of deposit (CDs) — savings accounts that allow to earn interest on sums starting from $250 and kept there for a fixed period

  • Credit cards — a range of card options to choose from, with zero to $89 annual fee and cash back points earned on everyday purchases

  • Personal loans — unsecured installment loans with fixed rates ranging from 6.99% to 19.99%

  • Home equity loans — a financing solution allowing you to use the equity in your home as collateral and borrow against it

  • Mortgage loans — financing options to buy your first or next home, with little to no down payment

  • Individual retirement accounts (IRAs) — accounts for retirement savings with annual APY ranging from 0.01% to 0.10% and zero monthly fees when maintaining the minimum deposit amount

  • Debit cards — free Visa® debit cards for day-to-day banking that come with every checking account from TD Bank

  • Gift cards — cards with a prepaid limit of your choice that you can give to a friend or family member as a gift to help them pay for their purchases

Products for small businesses include:

  • Checking accounts — accounts for everyday banking operations of your business featuring integration with TD Merchant Solutions and TD Online Accounting, affordable minimum deposit amounts required, and low monthly fees

  • Savings accounts — interest-bearing accounts with tiered rates ranging from 1.50% to 2.00% depending on the daily closing balance

  • Credit cards — TD Business Solutions Credit Cards with ARR for purchases ranging from 15.49% to 25.49% and an opportunity to earn up to 2% Cash Back Rewards

  • Loans and lines of credit — financing options to borrow up to $1,000,000 at fixed or variable interest rates, allowing to use business assets, business real estate, residential real estate, and liquid or margin security as collateral

  • Paycheck protection program (PPP) — an opportunity to apply for forgiveness of your PPP loan obtained in 2020 and 2021

  • Debit cards — Visa® debit cards for everyday business-related payments, with an opportunity to issue up to 15 cards with no fee

  • Certificates of deposit (CDs) — interest-bearing accounts with no monthly fees and a minimum deposit amount starting from $5,000

Corporations can get access to a range of TD lending solutions:

  • Asset-based lending — financing options that involve using your assets as collateral

  • Commercial lending — customized corporate financing options to help your business grow (including, but not limited to credit lines, term loans, and letters of credit)

  • Commercial real estate — customized lending solutions for commercial real estate owners, developers, and investors (including, but not limited to long-term loans, bridge loans, construction loans, mortgage loans, and more)

  • Equipment finance — customized equipment financing options, including various formats of leases, lines of credit, and loans


TD’s services for individuals include:

  • Student banking — checking and savings accounts for students and younger adults with no monthly fees for those between 17 and 23 years old

  • Cross-border banking — Canada-based accounts at TD Canada Trust, U.S.-based accounts at TD Bank, and TD Canada Trust credit cards, all working in both Canada and the US

  • Foreign exchange services — currency exchange opportunities and international wire transfers at competitive rates

  • Overdraft services — protection from fees when the funds in your account are not sufficient to cover a transaction

For businesses, Toronto-Dominion Bank offers the following services:

  • Banking solutions for healthcare practices — financing solutions allowing practices to borrow up to $12 million for different goals (equipment purchases, debt refinancing, expansion, or acquisition)

  • Merchant solutions — point-of-sale (POS) solutions to accept customer payments, either in-store or on the go

  • Online accounting — a hassle-free alternative to paper invoicing allowing to send online invoices, accept credit card payments and view the balance sheets

  • Payroll — easy-to-use, robust payroll services, including payroll taxes, year-end filings, and W-2s management, provided by Paycor® at preferred prices

  • Advisory services for different lifecycle stages — guidance from TD’s small business experts on the best banking solutions to help you meet your business objectives

For corporations, TD Bank provides treasury management services in the following directions:

  • Liquidity management — customized solutions based on TD offerings (such as checking and savings accounts) to ensure that companies have cash available as needed

  • Payables — solutions to enhance payables processing, including payment processing tools and a flexible commercial card program

  • Receivables — solutions to simplify billing through flexible payment options and payments and remittance management systems

  • Fraud control — anti-fraud solutions to protect companies in the digital age by preventing fraudulent and unauthorized transactions

  • Information services — access to secure online platforms to manage your banking activities and‌ analyze financial data more efficiently

Besides, all categories of clients (individuals, business owners, corporations, and non-profit organizations) can get access to investing and wealth management services from Toronto-Dominion Bank. The solutions in this area include advisory services from finance experts, access to automated investing platforms, customized investment strategies tailored to the specific needs of the clients, and more.


Who is Toronto-Dominion Bank owned by?

51.43% of TD’s shares belong to institutional investors. The top three stockholders are RBC Global Asset Management, Inc., 1832 Asset Management LP, and Capital Research and Management Company.

Is Toronto-Dominion Bank legitimate?

The official trade name of Toronto-Dominion Bank and its subsidiaries is TD Bank Group. The company’s head office is at Toronto-Dominion Center, P.O. Box 1, Toronto, Ontario M5K 1A2, CA.

Toronto-Dominion Bank has a license issued by the City of Vancouver, Community Services Group - License Office in December 2021. The license number is #22-120206.

What are the top five banks in Canada?

The five largest banks in Canada (also called “Big Five banks”) are Royal Bank of Canada (RBC), Toronto-Dominion Bank (TD Canada Trust), Bank of Nova Scotia (Scotiabank), Bank of Montreal (BMO), and Canadian Imperial Bank of Commerce (CIBC). All these banks have their head offices in Toronto.

Company documents

Privacy and Security
Legal Notices and Disclaimer of Liability

Our vision: be the better bank. Our purpose: enrich the lives of our customers, communities and colleagues.

© Toronto-Dominion Bank

Credit rating


Shows the level of financial reliability of a credit company

DBRS AA Superior credit quality

The capacity for the payment of financial obligations is considered high. Credit quality differs from AAA only to a small degree. Unlikely to be significantly vulnerable to future events.

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