Understanding your Bill from TD Bank

TD Bank is reportedly used by millions of Americans, but too few understand every detail of their bank bill or statement. Furthermore, TD Bank is notorious for not being very upfront about various extra fees or charges that you might incur accidentally. In this guide, we’ll dive deep into the extra charges you might experience once you receive your statement, as well as give you some key information about their APR rates so you can know if they are a good credit choice for your needs.

What’s On Your TD Bank Statement

TD Bank’s statements are fairly regular and contain a breakdown of your account balance along with any deposits or withdrawals you may have made. Additional charges and fees will also be mentioned. If you have a credit card with TD Bank, it will also tell you the minimum monthly payment in clear lettering so you don’t fall behind, which may be helpful for beginners to credit cards and debt, like students.

What Are the Extra Charges You Might See?

TD Bank has several additional charges and interest rates worth explaining. Let’s go into those now:

• Monthly fee: $10.95. This is the same thing as the maintenance fee that most other banks apply to their standard checking accounts. It goes down $8.20 for those who are 60 or older. You can avoid this fee if you have $3000 in the checking account balance every month
• Additional transaction fee: $1.25 each. The maximum transactions included per month is 25; you have to pay the prior fee for every transaction beyond this
• ATM fee: $2 in Canada and $3 in the US and Mexico. It’s $5 for every other foreign country ATM that isn’t under the TD Bank umbrella
• Paper statement fee: $2 per month. To that end, it might be wise to switch to their online banking system in order to avoid this minor fee on your statement every month
• Credit card APR: 0% for the first 15 months, then 14.49%-24.49% depending on credit worthiness afterward. These rates are for the standard credit card, but you can get a more exclusive credit card if you have great credit already; this has an APR of 14.74% after the trial period described before
• Credit card transfer fee: 3% with any transfer that is over $5, which is also conveniently the minimum
• TD Savings account APR: 0.05% for all balances, or 0.25% with a $50,000 minimum daily balance. If you can manage $250,000 as a minimum daily balance, you can enjoy a 1% APR. You can also swap between these accounts depending on your needs
• Saving account maintenance fee: normally $5, but waived with most of the amounts required for good APRs anyway

How to Contact TD Bank

Their customer service page is where you should go if you want to contest a fee or charge or if you want to speak to someone live about another issue. They have separate banking and investment centers for both types of callers.