How to a Close TD Bank Account [Full Guide]

If you’re no longer using your TD Bank account, you have the option to close it or transfer funds to another bank. This guide from Rates provides clear instructions on how to close a TD Bank account, including potential fees you might need to consider.

Prepare to Closing an Account at TD Bank

Closing a TD account? It’s important to take a few preparatory steps to ensure a smooth transition. Follow this straightforward guide to keep your finances on track:

• Open a New Account at Another Bank: Before you close the account at TD Bank, you need to open a new one at another financial institution. This ensures you have a place to transfer your funds and avoids service disruptions. If you’re switching banks because TD doesn’t meet your financial needs, make sure to research alternatives that offer benefits such as lower fees, higher interest rates, and better services.
• Update Your Bills and Automatic Payments: The next step is to update all your expenses. If you transfer money from your TD Bank account without updating this information, you could miss payments and incur additional fees.

Types of accounts and payments that a person should update:
- Loan payments;
- Phone bills;
- Utility and mortgage payments;
- Subscriptions (e.g., streaming services, magazines, mobile games).

• Transfer Funds to the New Account: Once your payment details have been updated, it’s time to transfer the remaining funds from your TD Bank account to your new account. Complete this step promptly after updating the information to prevent any payment issues.
• Gather and Save Required Documents: Another important step before closing an account at TD Bank is gathering and uploading all necessary documents. For example, make sure you save copies of bank statements to keep a record of your transactions for future tax filings or reference.

After updating your payments and transferring your funds, you can begin closing your TD Bank account. However, don’t rush — wait a few weeks before officially closing your account. This ensures you haven’t overlooked updating any automatic payments or linked services.

After a few weeks, you can officially close the account. Also, remember to destroy your old checks and debit cards to prevent accidental use or fraud.

How to Cancel TD Bank Account

There are several options for closing an account at TD Bank:

• By phone;
• In person at a branch;
• Online;
• By written request.

Read on for more details about each of these methods and the service features.

Call EasyLine

Calling EasyLine is an easy process to close a savings account at TD Bank without leaving your home. To do this, you need to call TD Bank at the following numbers:

• English number: 1-866-222-3456;
• French number: 1-800-895-4463.

This method allows you to transfer funds to another TD Canada Trust account or, if needed, receive a bank check.

If you’ve decided to stop investing and want to close your TD investment account, the best is to contact TD Direct Investing:

• English: 1-800-465-5463 or 416-982-7686;
• French: 1-800-361-2684 or 514-289-8439.

Before closing your Direct Investing account, ensure the balance is zero. Once that’s done, you can attempt to close the TD Bank account over the phone—a straightforward process.

Visit TD Canada Trust Branch

If you prefer in-person assistance, visit your nearest TD Canada Trust branch. This option is helpful if you have additional questions about the closing procedure or need guidance on the process before making a transfer.

TD Bank branches are located across Canada. If you’re unsure where the nearest one is, visit the official TD website to locate a branch near you.

Can You Close TD Bank Account Online

You can close a TD Bank account online only if it has a zero balance. If funds remain, you’ll need to visit a branch in person or call customer service. However, if your personal account has a zero balance, you can close it conveniently through the TD app or online banking using one of the following methods:

• Sending a request via email through your account;
• Calling TD customer support at 1-888-751-9000.

If you have a business account with TD, in-person visits are required regardless of the account balance.

Make a Written Request

If other methods don’t suit you, you can submit a written request that includes your account number. To close the account successfully, it must be signed and notarized.

Conclusion

To close your TD Bank account, follow any of the methods outlined above. Before proceeding, ensure that your funds are properly managed with your new financial institution. Specifically, update your payment and automatic withdrawal details with your new account, transfer your remaining balance from your TD Bank account, and save copies of your transaction history.

After completing these steps, finalize the account closure with confidence. Please note that a transfer fee may apply, especially if your new account is located outside of Canada. If applicable, convert any remaining funds into the required foreign currency. By following this guide, you can close your TD Bank account smoothly and avoid unnecessary complications.