What you need to open a TD Bank savings account
TD Bank lets you open a savings account online, by phone, or in person at a branch. You will need a government-issued photo ID, your Social Security number, and an initial deposit. The minimum opening deposit varies by account type — some accounts require $25, others $100 or more. You can fund the account with a debit card, transfer from another bank, or cash if you open in person.
If you do not have a photo ID yet, you cannot open an account online or by phone. You will need to visit a branch in person with whatever ID documents you have, and a branch employee can help you work through the options. TD Bank branches are located in the Northeast, Mid-Atlantic, and Midwest regions of the United States.
You must be at least 18 years old to open an account in your own name. If you are under 18, a parent or guardian can open a custodial account for you, which gives them access to manage the account until you reach the age of majority in your state.
Key Takeaways
- You need a government photo ID, Social Security number, and an opening deposit of $25 to $100 depending on the account type.
- Online and phone applications take 10 to 15 minutes, while in-person opens at a branch are usually complete the same day.
- TD Bank offers several savings account types with different interest rates and features, so compare them before you choose.
- Once your account is open, you can deposit money through ATMs, branches, mobile check deposit, or transfers from other banks.
Opening online or by phone
To open online, go to tdbank.com and select "Open an Account" from the main menu. You will enter your personal information, including your name, date of birth, address, phone number, and Social Security number. The system will ask you to verify your identity using your driver's license or state ID — you may need to take a photo of the front and back, or answer security questions based on your credit history.
The online process usually takes 10 to 15 minutes. Once you submit your application, TD Bank reviews it and sends you a confirmation email. If you are opening with an initial deposit, you will be asked to link a debit card or provide bank account details for a transfer. Your account is typically active within one business day, though you may not receive your debit card for 7 to 10 business days.
To open by phone, call TD Bank customer service at 1-800-937-8372. A representative will walk you through the same information and can answer questions about which account type fits your needs. Phone applications take about 20 minutes and follow the same funding and activation timeline as online.
Opening in person at a branch
Visit any TD Bank branch with your photo ID, Social Security number, and opening deposit. Bring cash, a debit card, or be prepared to provide account details for a transfer from another bank. The branch employee will complete the application with you, verify your identity, and process your deposit on the spot.
In-person opens are usually finished within 30 minutes. You will receive a temporary debit card at the branch or be told when your permanent card will arrive. Your account is active immediately, so you can use it the same day if you received a temporary card, or within a few days once your permanent card arrives.
If you do not have a photo ID, bring whatever identification you have — a passport, birth certificate, or state ID without a photo. The branch employee can help you determine what documents TD Bank will accept and may be able to open your account with additional verification steps.
Types of TD Bank savings accounts
TD Bank offers several savings account options. The TD Bank Savings Account is the basic option with no monthly maintenance fee if you maintain a minimum balance or set up direct deposit. The TD Bank Money Market Savings Account offers a higher interest rate but requires a larger opening deposit and minimum balance. The TD Bank Youth Savings Account is designed for customers under 18 and has no monthly fee.
Interest rates on savings accounts change based on market conditions, so the rate you receive when you open your account may be different from the rate advertised today. You can compare current rates on tdbank.com or ask a branch employee for the rate available at the time you open.
If you already have a TD Bank checking account, opening a linked savings account is faster — the system already has your information on file, and you can often complete the process in just a few minutes online or by phone.
What happens after you open your account
Once your account is open, you can deposit money through several methods. You can visit a TD Bank branch or ATM to deposit cash or checks. You can use the TD Bank mobile app to deposit checks by taking photos of the front and back. You can transfer money from another bank account using the account number and routing number. You can also set up direct deposit from your employer or government benefits.
Your debit card will arrive in the mail within 7 to 10 business days if you opened online or by phone. If you opened in person, you may receive a temporary card immediately or be told when to pick up your permanent card. Once you have your card, you can withdraw money from any TD Bank ATM for free, or from other ATMs for a fee that varies by the other bank.
You can manage your account online through tdbank.com or through the TD Bank mobile app. You can check your balance, view transactions, set up alerts, transfer money between your accounts, and pay bills. You can also call customer service at 1-800-937-8372 if you have questions about your account or need help with a transaction.
Fees and monthly maintenance charges
Most TD Bank savings accounts have a monthly maintenance fee of $5 to $10, but the fee is waived if you meet certain conditions. Common ways to avoid the fee include maintaining a minimum balance (usually $300 to $500), setting up direct deposit, or having a linked TD Bank checking account. Check the account terms when you open to see which conditions apply to your specific account type.
Other fees you may encounter include overdraft fees if you withdraw more than your balance, ATM fees if you use an out-of-network ATM, and wire transfer fees if you send money to another bank. These fees are disclosed in the account agreement you receive when you open, and you can also view them on tdbank.com.
Frequently Asked Questions
Can I open a TD Bank savings account if I do not have a Social Security number?
No, TD Bank requires a Social Security number or Individual Taxpayer Identification Number (ITIN) to open any account. If you do not have either, you will need to obtain one before you can open an account. Visit ssa.gov for information about applying for a Social Security number, or irs.gov for information about an ITIN.
How long does it take to get my debit card after I open online?
Debit cards typically arrive within 7 to 10 business days of opening your account online. If you need to access your money before the card arrives, you can withdraw cash at a TD Bank branch or ATM using your account number, or transfer money to another account you already have.
What is the minimum opening deposit for a TD Bank savings account?
The minimum opening deposit is $25 for most TD Bank savings accounts, though some account types require $100 or more. Check tdbank.com or call 1-800-937-8372 to confirm the minimum for the specific account type you want to open.
Can I open a savings account if I have had banking problems in the past?
TD Bank uses ChexSystems, a banking history report, to review applications. If you have unpaid overdrafts, closed accounts with outstanding balances, or fraud on past accounts, your application may be denied. You can request a copy of your ChexSystems report at chexsystems.com to see what information is on file.
Do I need to open a checking account to open a savings account at TD Bank?
No, you can open a savings account without a checking account. However, if you already have a TD Bank checking account, opening a linked savings account is faster and may give you access to better rates or fee waivers.