Yes, you can open most TD savings accounts online, but the process and account types available depend on which TD bank you use and where you live
TD Bank (in the United States) and TD Canada Trust (in Canada) both let you start a savings account through their websites without visiting a branch. The online process typically takes 10 to 15 minutes and requires a valid government ID, Social Security Number or Social Insurance Number, and proof of address. However, not every savings product is available online — some specialty accounts still require a phone call or in-person visit.
The account opens immediately in most cases, though you won't be able to deposit money or use the account until you complete identity verification, which usually happens the same day or within 24 hours. After that, you can fund the account by linking an external bank account, transferring money from another TD account, or visiting an ATM to deposit cash.
Key Takeaways
- TD Bank and TD Canada Trust both allow online account opening for most savings products, and the process takes about 10 to 15 minutes from start to finish.
- You will need a valid government-issued ID, your Social Security Number or Social Insurance Number, and proof of your current address to complete the online application.
- Identity verification happens automatically after you submit your application, usually within the same day, before you can deposit or withdraw money.
- Some specialty savings accounts, such as certain registered accounts or accounts for minors, may require a phone call or branch visit to complete.
- After your account is verified, you can fund it by linking an external bank account, transferring from another TD account, or depositing cash at a TD ATM.
What you need before you start the online application
Gather these documents before you open your browser. You will need a valid government-issued photo ID — a driver's license, passport, or state/provincial ID card. TD will ask you to enter the ID number and expiration date during the application.
You also need your Social Security Number (in the US) or Social Insurance Number (in Canada). TD uses this to verify your identity and check for fraud. Have your current address ready as well — TD will ask for it during the application and may send a verification code to that address by mail if the online verification doesn't complete immediately.
If you are opening an account as a minor or with a co-owner, requirements change. Some of these accounts require a phone call or a visit to a branch, so check TD's website for your specific situation before you start.
The online application process, step by step
Go to TD's website and select "Open an Account" or "New Accounts" — the exact link varies by whether you are using TD Bank (US) or TD Canada Trust (Canada). You will be asked to choose which type of savings account you want. TD offers options like a basic savings account, a high-yield savings account (rates vary by location and market conditions), and registered accounts such as an RRSP or TFSA in Canada.
Enter your personal information: full name, date of birth, address, phone number, and email. Then provide your ID number and expiration date, and your Social Security Number or Social Insurance Number. TD will ask whether you are a US citizen or Canadian citizen and whether you have an existing TD account. Answer honestly — these answers affect which accounts are available to you and what happens next.
Review the account terms and conditions, then submit. TD will show you a confirmation number on screen. At this point, the account is created but not yet active. You will receive an email confirming the application, usually within minutes.
Identity verification and when your account becomes active
After you submit your application, TD runs an automated identity check. In most cases, this completes within a few hours, and you will receive an email saying your account is verified and ready to use. You can then log in to your online banking, set up a PIN for ATM access, and start funding the account.
If the automated check cannot verify you — for example, if your address doesn't match records or if there is a name mismatch — TD will mail a verification code to your address on file. This takes 5 to 10 business days. You will enter that code into your online banking to activate the account. During this waiting period, the account exists but you cannot deposit or withdraw money.
In rare cases, TD may call you to verify information by phone. This usually happens if there are red flags in the automated check or if you provided conflicting information. If TD calls, answer the questions and the account will typically be verified the same day.
How to fund your new TD savings account
Once your account is verified and active, you have three main ways to add money. The fastest is to link an external bank account and transfer money electronically. Go to your online banking, select your new savings account, and choose "Transfer Money" or "Link Account." Enter your other bank's routing number and account number. TD will deposit two small test amounts (usually under $1 each) to that account to confirm you own it. Once confirmed, you can transfer up to your daily limit, which varies by account type and your banking history.
If you already have another TD account, you can transfer between your own accounts instantly through online banking or at an ATM. There are no fees and no daily limits on transfers between your own accounts.
You can also deposit cash at a TD ATM if you have a debit card linked to your new account. ATM deposits post immediately during business hours and are available for withdrawal the next business day. Some TD branches also accept cash deposits at the teller window if you bring your account number or debit card.
Accounts you cannot open online and what to do instead
Most basic savings accounts are available online, but some specialty products require a phone call or branch visit. Accounts for minors (under 18 or 19, depending on your state or province) usually need a parent or guardian to visit a branch in person or call to verify their identity. Registered accounts like an RRSP or TFSA in Canada can sometimes be opened online, but if you want to link them to an investment product or set up automatic contributions, you may need to call.
If you want to open a joint account with another person, some TD branches require both account holders to be present or to call together. Check TD's website for your specific account type, or call 1-800-465-5000 (TD Bank US) or 1-800-895-4463 (TD Canada Trust) to confirm whether your account can be opened online.
What happens if your online application is denied or incomplete
If TD denies your application, you will receive an email explaining the reason. Common reasons include a mismatch between your ID and your address, a Social Security Number or Social Insurance Number that doesn't match records, or a history of fraud or unpaid accounts with TD or other banks. If you believe the denial was a mistake, call TD's customer service line to discuss it.
If your application is incomplete — for example, if you started it but didn't finish — you can usually resume it by logging into your online banking or by starting a new application. TD typically holds incomplete applications for 30 days before deleting them, so you have time to go back and finish.
If you cannot open an account online for any reason, you can always visit a TD branch in person or call to open an account by phone. A representative can walk you through the process and answer questions about which account type is right for you.
Frequently Asked Questions
How long does it take to open a TD savings account online?
The application itself takes 10 to 15 minutes. Identity verification usually completes within a few hours, and your account is ready to use the same day. If TD needs to mail you a verification code, add 5 to 10 business days before the account is fully active.
Can I open a TD savings account online if I don't have a US or Canadian address?
TD requires a current address in the country where you are opening the account. If you live outside the US or Canada, you will need to visit a branch or call to discuss your options. Some TD locations have different rules for non-residents.
What is the minimum deposit to open a TD savings account online?
Most TD savings accounts have no minimum deposit to open. However, some high-yield or specialty accounts may require a minimum balance to earn the advertised interest rate. Check the account details on TD's website before you apply.
Can I open a TD savings account online if I have bad credit?
TD does not typically run a credit check to open a savings account. However, if you have a history of fraud, unpaid accounts, or other red flags in banking records, TD may deny your application. If this happens, call customer service to discuss your situation.
Do I need an existing TD account to open a savings account online?
No. You can open a TD savings account online even if you have never banked with TD before. However, if you already have a TD checking account, you can link it to your new savings account for easy transfers.