td everyday business plan

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TD Every Day Business Plans

A cost-effective way to conduct your business banking

Service plan options

Here's what you get.

• All Every Day Service Plans include  2 free monthly e-Transfers  to send or request money using Interac e-Transfer®
• Capability to send Additional Remittance Details (subject to a fee of $0.50)
• $10 monthly fee rebate 1  on Business Overdraft Protection
• All debit and credit card deposits credited to your account through POS terminals, are non-chargeable transactions and are not subjected to transaction and deposit item limits

Not sure which service plan is right for you?

Try our selector tool

Discover which Service Plan best matches your business needs.

You might also be interested in:

• Business Credit Cards

Choose a TD Business Credit Card with benefits and features that can help you grow and manage your business.

• TD Merchant Solutions

Use TD Merchant Solutions for straightforward advice and payment solutions you can count on to keep pace with your growing practice.

Deposit cheques from your office

TD Remote Deposit Capture and TD Mobile Deposit are fast, easy and convenient ways to deposit cheques 5 .

Open my account

Contact an account manager.

Talk to an Account Manager Small Business (AMSB) to discuss your business needs.

Talk to a Small Business Specialist at our Small Business Advice Centre.

Deposit Insurance

Your deposits may be insurable by the Canada Deposit Insurance Corporation.

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TD Personal Banking

• Personal Home
• My Accounts
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• Accounts (Personal)
• Chequing Accounts
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TD Small Business Banking

• Small Business Home
• Accounts (Business)
• Chequing Account
• Savings Account
• U.S. Dollar Account
• AgriInvest Account
• Cheque Services
• Overdraft Protection
• Line of Credit
• Business Mortgage
• Canada Small Business Financial Loan
• Agriculture Credit Solutions
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• Invest for your Business
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TD Investing

• Investing Home
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• Investor Relations
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Other TD Businesses

• TD Commercial Banking
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U.S. Banking

• TD Bank Personal Banking?
• TD Bank Small Business Banking?
• TD Bank Commercial Banking?
• TD Wealth Private Client Group
• TD Bank Personal Financial Services

1  Included Business Overdraft Protection is available only on Canadian dollar accounts. Subject to complying with TD Canada Trust lending policies and criteria.

2  Your monthly plan fee will be rebated when your daily balance is greater than or equal to the required amount throughout the month.

3  Deposit items are cheques (including cheque image through TD Remote Deposit Capture and TD Mobile Deposit), money orders, drafts and all other clearing items.

4  Cash deposits are paper currency and coins, rounded to the nearest dollar.

5  Subject to eligibility requirements, applicable fees and technology and device capabilities.

Interac  is a registered trade-mark of Interac Corp. Used under licence.

• TD Business Banking Review

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TD Business Banking Review 2024

Updated: Jul 5, 2024, 3:52am

Fact Checked

Table of Contents

Td business banking basics, td bank business accounts, other accounts and services, td business banking minimum balances and fees, td bank business account requirements, access on the go.

• Pros & Cons of TD Business Banking

How TD Business Banking Stacks Up

Methodology, is td business banking right for you, frequently asked questions (faqs).

The Toronto Dominion Bank, known today as the TD Bank, was formed in 1955 after the merger of the Bank of Toronto and The Dominion Bank. The Bank of Toronto started in 1855, and the Dominion Bank opened its first branch in 1871. Today, TD is one of Canada’s biggest banks and offers customers a range of financial, investing, and insurance products for individuals and small businesses.

TD offers a wide selection of bank accounts, credit cards, and credit solutions for business owners to help them establish, grow, and manage their day-to-day operations.

Featured Partners

Simplii HISA

On Simplii Financial’s Website

0.35% – 3.75% for eligible deposits

Minimum Deposit Requirement

Other Features

No maintenance or monthly fees. Set up automatic deposits. From Nov 1st to Jan 31st, 2025 get a special interest rate – Earn 6% interest for 5 months on your first Simplii Financial High Interest Savings Account. Limits apply.

EQ Bank Personal Account

On EQ Bank’s Website

Up to 3.75%

Monthly Maintenance Fee

Whether you want to open an account for your sole proprietorship or a corporation, TD offers many business bank accounts to fit various needs and budgets. Monthly account fees range from $0 to $125 per month, but it’s possible to waive most account fees by maintaining a monthly balance. To apply for a business banking account, you must book an appointment with a local account manager, which you can find on TD’s website.

TD has a variety of small business banking accounts, including the following:

TD Basic Business Plan

This account is designed for businesses with only a few transactions per month. The monthly fee is $5; you get five deposits and five transactions. Extra deposits are $0.22 each and $1.25 for additional transactions. The account also includes free online statements with cheque images which are archived for seven years. The cash deposit fee is $2.50 per $1,000.

TD Every Day Business Plan A

This is TD’s budget-friendly account for everyday business banking. The monthly account fee is $19 but is rebated if you hold a minimum balance of $20,000. You get 50 deposits and 20 transactions per month. Additional deposits cost $0.22 each, and additional transactions are $1.25 each. You can deposit up to $5,000 in cash monthly. Additional deposits are $2.50 per $1,000. All debit and credit deposits credited to your account through POS don’t count as chargeable transactions and won’t impact your transaction or deposit limits.

TD Every Day Business Plan B

This account offers more free transactions than Plan A. The monthly fee is $30 and is rebated with a $35,000 balance. You get up to 50 deposits and 60 transactions each month. Like Plan A, you have a maximum of $5,000 in monthly cash deposits. Additional deposits are $2.50 per $1,000. You also get two free e-transfers each month to send or request money through Interac e-Transfer . All debit and credit deposits credited to your account through POS don’t count as chargeable transactions and won’t impact your transaction or deposit limits.

TD Every Day Business Plan C

Plan C costs $72 per month, but the fee is waived if you hold a minimum monthly balance of $45,000. This plan offers 50 deposits and the highest number of monthly transactions at 120. You also get two free e-transfers each month to send or request money through Interac e-Transfer. All debit and credit deposits credited to your account through POS don’t count as chargeable transactions and won’t impact your transaction or deposit limits.

TD Unlimited Business Plan

This plan is advertised as TD’s most flexible business banking plan. The monthly fee is $125, but you can get a rebate with a minimum daily balance of $65,000. You get unlimited deposits and transactions, free Interac e-Transfers, and cash deposits up to $25,000 per month. There is a $149 rebate for the annual fee on the TD Business Travel Card or TD Aeroplan Business card issued in your business name.

Business Savings Account

This account offers an opportunity to earn daily interest which is paid at the end of the month.  A balance of $0 to $9,999.99 earns 2.550% interest up to 4.450% for balances of $5 million or more. Transfers to or from other TD Canada Trust Accounts to your savings account are free.

TD Community / Not-for-Profit Plans

TD offers two plans designed for community and not-for-profit organizations. The Community Plan is meant for small community organizations with minimal or seasonal account activity. It has a monthly fee of $1.95 and comes with 15 deposits. There’s a rebate for the monthly fee in accounts that hold a balance of $5,000. The Community Plan Plus is well-suited for organizations with a higher level of monthly banking activity. It has a monthly fee of $4.95, up to 30 deposits, and a rebate if you maintain a balance over $10,000.

AgriInvest Account

This account is designed to help farmers manage minor shortfalls in income. When you deposit it into this account, the federal, provincial and territorial governments will match the first 1% of your Allowable Net Sales, up to $15,000 annually. You can withdraw this money at any time to cover shortfalls or for other investments.

U.S. Dollar TD Every Day Business Plan A

This account is the same as TD Every Day Business Plan A but offered in U.S. dollars. For $19, you get 50 deposits and 20 transactions. The monthly fee is waived with a $20,000 U.S. monthly balance.

U.S. Dollar TD Every Day Business Plan B

This account is the same as TD Every Day Business Plan B but offered in U.S. dollars. The monthly fee for Plan B is $39 but you get a fee rebate with a minimum monthly balance of $35,000. You get 60 free monthly transactions and 50 deposits.

U.S. Dollar TD Every Day Business Plan C

This account is the same as TD Every Day Business Plan B but offered in U.S. dollars. The monthly fee for Plan C is $72 U.S. but is free if you maintain a monthly balance of $45,000 each month. You get 120 transactions and 50 deposits per month.

U.S. Dollar TD Basic Business Plan

This account is the same as TD Basic Business Plan but offered in U.S. dollars. This account costs $5 per month, for five free transactions and deposits.

U.S. Dollar TD Unlimited Business Plan

This account is the same as TD Unlimited Business Plan but offered in U.S. dollars. For $125 U.S. per month, you get unlimited transactions and deposits. You get a fee rebate with a minimum monthly balance of $65,000 U.S.

U.S. Dollar TD Community / Not-for-Profit Plans

These accounts are the same as TD Community/Not-for-Profit Plans but offered in U.S. dollars. The monthly fee for the Community Plan is $1.95 and includes five transactions and 15 deposits. A fee rebate is offered with a minimum balance of $5,000. The Community Plan Plus costs $4.95 monthly, including 30 transactions and deposits. A fee rebate is available with a minimum monthly balance of $10,000.

TD offers a variety of solutions to help small business owners at every stage, whether you’re just starting or looking to retire and pass on your business. Some of the products for small businesses include:

Credit Cards

TD has several small business credit cards, including travel , Aeroplan , and cash back Visa credit cards. New small business owners can use a business credit card to establish a business credit history and to keep personal and business expenses separate.

Overdraft Protection

Your small business can use TD Business overdraft protection to cover shortages in your TD Business checking account up to your available credit limit.

Line of Credit

Get a TD business line of credit to ensure your small business has access to money when needed. You only pay interest on the amount you borrow, and TD offers a floating interest rate based on TD Prime Rate or TD U.S. Prime Rate.

Business Loan

If you want to expand your business or purchase new equipment, you might consider a small business loan from TD. Choose from a one or five-year fixed-rate term, with an amortization of up to 30 years. There are floating and fixed-rate options available.

Business Mortgage

TD offers business mortgages if you want to purchase a commercial property. Variable-rate mortgages allow you to pay off your principal balance early, without any prepayment penalties. With a fixed mortgage, you can lock in your rate and still make an option to prepay up to 10% of the original loan amount every year.

Canada Small Business Financing Act Loan

TD offers This financial option in partnership with the Government of Canada. Funds range from $150,000 to $1,000,000 and can be used to purchase or improve land, buildings, and equipment. They can also be used to pay for day-to-day operating expenses.

Business Accelerator Loan Program

Apply for funding to support day-to-day operations. This financing option is supported by a guarantee from the Business Development Bank of Canada (BDC). Loans range from $25,000 to $500,000, with amortization up to six years.

Canada Small Business Financing Line of Credit (CSBF LOC)

TD and the Government of Canada are working together to help you fund the daily operation of your business and your working capital needs. Apply for a line of credit up to $150,000.

To apply for a TD account, you’ll need the following:

Sole proprietorship

• Certificate of business registration
• Trade name (if you have one)
• Piece of government ID or documents to verify your name, address, and date of birth

Partnership

• Partnership agreement
• Certificate of business registration (if you have one)
• Partnership/ownership information
• Proof of business address (e.g. utility bill)
• Government ID for each signing authority

Corporations

• Articles of incorporation
• CRA business number if you solicit public donations
• Director information

Association

• Articles of Association (if you have them)
• Letter of larger association (typically for sports teams or community associations)
• Proof of address (e.g. utility bill)

With TD, you can bank anytime, anywhere, using your phone, tablet, or computer. You can also stop into a branch or bank at an ATM.  With the TD Bank App, you can perform the following banking tasks:

• Review account balances and transaction history.
• Deposit cheques
• Transfer money between accounts
• Send money using Zelle
• Get security reminders
• Call customer service
• Schedule a call with an advisor
• Add bank or credit card to Apple Pay, Samsung Pay, or Google Pay
• Lock your TD access card
• Lock or unlock your credit card
• Research investments

Pros & Cons of TD Business Banking

• Wide variety of business bank accounts
• Offers other small business products, including small business credit cards, loans, and lines of credit
• Access to 24/7 customer service
• Can only apply online if you’re a sole proprietor or a single-owner corporation
• Many of the business accounts require high minimum balances to waive the monthly fee
• Doesn’t offer a digital business bank account like other banks, including RBC and BMO

TD Business Banking vs. RBC Business Banking

TD offers more business banking accounts than RBC , including six U.S. accounts. Both banks offer a business savings account with comparable tiered interest rates. Similarly, TD and RBC offer the AgriInvest Account option for farmers participating in the Government of Canada’s AgriInvest program and community accounts designed for not-for-profit organizations. Unlike TD, RBC offers a discounted account called the Digital Choice Business Account for customers who do most of their banking online.

Related: RBC Business Banking Review

TD Business Banking vs. CIBC Business Banking

TD offers more business banking accounts than CIBC . Both banks offer savings accounts but TD offers a higher maximum interest rate of 4.45% on balances of $5 million or more. CIBC offers up to 2.00%. Both banks offer accounts for not-for-profit and community organizations and access to the AgriInvest Account. TD offers six U.S. bank account options while CIBC only has one.

TD Business Banking vs. BMO Business Banking

TD offers more business bank accounts than BMO . Compared to TD, some BMO accounts come with slightly higher fees than TD accounts. While all of TDs accounts offer a rebate for monthly fees if you hold a minimum balance, only some of BMO’s accounts provide this option. TD offers a higher maximum interest rate on its Canadian business savings account (4.45%) compared to BMO (4.20%). Like TD, BMO offers community and AgriInvest accounts. Unlike TD, BMO offers an eBusiness Plan that offers unlimited electronic transactions for no monthly fee.

Forbes Advisor compared 41 banks, 20 of which are nationally available —both traditional brick-and-mortar institutions and online-only banks—to find the best options available. To make this list, the bank had to be available to Canadians nationwide. They were rated out of five stars according to the following data points and formula out of 100%:

• Product Offerings – 11%
• Minimum Deposit – 5%
• Minimum Balance – 5%
• Availability – 5%
• 3P Ratings – 5%
• Customer Reviews – 2%
• Live Chat – 2%
• Digital Experience – 10%
• ATM Network – 10%

If you want a bank that offers a wide selection of bank accounts and other financial products, you might find TD is a good fit. TD has a range of accounts designed for businesses of all different sizes. Before you decide if TD is right for you, compare multiple banking options.

What are the advantages of a TD business account?

The advantages of a TD business account include 24/7 customer service, TD overdraft relief, and TD online and mobile banking options.

How much does TD Bank charge for a business account?

Fees range from $0 per month for the TD Business Savings Account to $125 for the TD Unlimited Business Plan. There is also an opportunity to have the monthly fees waived if you’re able to hold a defined minimum balance in your account. Minimum balances vary between accounts.

What is TD's unlimited business plan?

TDs Unlimited Business Plan is one of TDs business bank accounts. It has the highest monthly fee of $125 but offers unlimited transactions and deposits. You can waive the fee if you hold a minimum monthly balance of $65,000.

What do you need to open a TD business account?

To open a TD business account, you’ll typically need to provide information to verify your business such as your certificate of business registration and government-issued ID to confirm your identity and address.

Can I open a TD business account online?

Whether you can open a TD business account online depends on the type of business. Sole proprietors and single-owner corporations can apply online. However, partnerships, multi-owner corporations, and associations will have to speak to a TD business banking specialist to book an appointment over the phone or apply in person.

What is the minimum balance for a TD business account?

There is no minimum balance for TD business accounts. However, your monthly account fees can be waived if you meet a minimum account balance, which varies between accounts.

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Jessica is a freelance writer, professional researcher and mother of two rambunctious little boys. She holds a Master of Science degree in Cognitive Research Psychology and a Bachelor's degree in Communications and Culture. Her work has appeared at The Balance, Investopedia, Money Under 30, Time.com, Seeking Alpha, Consumer Affairs and more. When Jessica isn't writing, she enjoys spending time outdoors with her family.

Courtney Reilly-Larke is the deputy editor of Forbes Advisor Canada. Previously, she was the associate editor of personal finance at MoneySense. She was also managing editor of Best Health Magazine and has contributed to publications such as Cottage Life and Blog TO. She currently lives in Toronto.