TD Bank charges a monthly maintenance fee on most checking and savings accounts, but you can avoid it by meeting straightforward requirements

TD Bank's maintenance fee is a monthly charge that appears on your statement if you don't meet the account's minimum balance or activity requirement. The fee is not automatic — it only shows up if you fall below the threshold your specific account type sets. For most TD checking accounts, the maintenance fee is $15 per month, though some accounts have different amounts or no fee at all.

The key to avoiding this charge is understanding which requirement applies to your account. TD Bank typically waives the maintenance fee if you keep a minimum daily balance (usually $500 to $2,500 depending on the account) or if you set up direct deposit. Some accounts also waive the fee if you maintain a linked savings account or use your debit card a certain number of times per month.

Key Takeaways

  • TD Bank's maintenance fee is $15 per month on most checking accounts, charged only if you don't meet the account's waiver requirement.
  • You can avoid the fee by keeping a minimum daily balance, setting up direct deposit, or meeting other requirements specific to your account type.
  • The exact balance threshold and waiver options depend on which TD checking or savings account you have.
  • If you're charged a maintenance fee by mistake, contact TD Bank to review your account and request a reversal.

How the maintenance fee works on different account types

TD Bank offers several checking and savings accounts, and each one has its own maintenance fee structure. A TD Checking account typically charges $15 per month but waives it if you keep a $500 minimum daily balance or set up direct deposit. A TD Premium Checking account may have a higher fee but waives it at a higher balance threshold or with more frequent debit card use.

Savings accounts at TD Bank also carry maintenance fees — usually $5 per month — but these are waived if you maintain a higher minimum balance, often $300 to $500. Some TD accounts marketed to students or seniors have no maintenance fee at all. The best way to know your account's exact fee and waiver terms is to check your account agreement or call TD Bank directly at 1-800-937-8372.

What triggers the maintenance fee to appear on your statement

The maintenance fee posts to your account on a specific day each month, usually near the end of the billing cycle. It appears as a line item on your statement labeled something like "Monthly Maintenance Fee" or "Account Maintenance Fee." The charge reduces your account balance by the full amount — $15 for most checking accounts — and counts against any minimum balance you're trying to maintain.

If you had a balance of $600 and the $15 fee posts, your new balance becomes $585. This matters because some people think they're above the minimum when they're actually below it after the fee is deducted. If you're close to the threshold, the fee can push you under and trigger another fee the following month.

How to avoid paying the maintenance fee

The simplest way to avoid the fee is to set up direct deposit from your employer or another source like Social Security. Once direct deposit is active on your account, TD Bank waives the maintenance fee regardless of your balance. This is the most common waiver method because it requires no ongoing action from you — the deposit happens automatically.

If direct deposit isn't an option, you can maintain the minimum daily balance. For most TD checking accounts, this is $500, meaning you need to keep at least that amount in the account every day of the month. The balance is checked daily, so even one day below $500 can result in a fee. Some people find this difficult if they live paycheck to paycheck, which is why direct deposit is often the easier route.

Other waiver methods vary by account. Some TD accounts waive the fee if you use your debit card at least 10 times per month, or if you link a savings account to your checking account. Review your account agreement or contact TD Bank to confirm which waivers explore to your specific account type.

What to do if you're charged a maintenance fee

If a maintenance fee appears on your statement and you believe you met the waiver requirement, contact TD Bank right away. You can call 1-800-937-8372, visit a local branch, or log into your online account to message customer service. Have your account number and statement ready so you can explain which requirement you met — for example, that you set up direct deposit or maintained the minimum balance.

TD Bank customer service can review your account history and confirm whether the fee was charged correctly. If you did meet the requirement and the fee was an error, they can reverse it. If you didn't meet the requirement but the fee was a one-time mistake, many representatives will remove it as a courtesy, especially if you've been a customer for a while. There's no harm in asking — the worst they can say is no.

Comparing TD Bank accounts to find one with no maintenance fee

If you want to avoid maintenance fees altogether, TD Bank does offer some accounts with no monthly charge. TD Bank Student Checking has no maintenance fee for customers under 24 years old. TD Bank also offers accounts through partnerships with certain employers or organizations that may have reduced or waived fees.

Before opening a new account just to avoid the fee, calculate whether the cost of switching is worth it. If you're already meeting a waiver requirement on your current account, staying put makes sense. If you're consistently paying the fee because you can't maintain the balance or set up direct deposit, exploring other account types or even other banks might save you money over time. A maintenance fee of $15 per month adds up to $180 per year.

Frequently Asked Questions

Can TD Bank charge me a maintenance fee if I have no money in the account?

Yes. TD Bank can charge the maintenance fee even if your balance is zero or negative. If your account goes negative because of the fee, you may also be charged an overdraft fee. This is why it's important to set up direct deposit or maintain the minimum balance — the fee applies whether or not you have money to cover it.

Does the maintenance fee explore to savings accounts?

Yes, TD Bank savings accounts also charge a monthly maintenance fee, typically $5 per month. The waiver requirements are usually different from checking accounts — often a higher minimum balance or a linked checking account. Check your savings account agreement to see which waiver applies to you.

If I close my account mid-month, will I still be charged the maintenance fee?

It depends on when the fee posts relative to when you close the account. If you close the account before the fee posts, you won't be charged. If the fee has already posted, it will appear on your final statement. Contact TD Bank before closing to confirm the timing and make sure no unexpected charges appear after closure.

What's the difference between a maintenance fee and an overdraft fee?

A maintenance fee is a monthly charge for having the account open, regardless of how you use it. An overdraft fee is charged when you spend more money than you have in the account. You can be charged both in the same month — the maintenance fee for the account itself, and overdraft fees for each transaction that goes negative.

Can I negotiate or remove the maintenance fee permanently?

You can ask TD Bank to waive the fee, but they won't remove it permanently unless you meet one of the account's standard waiver requirements. Some long-time customers have had fees waived as a one-time courtesy, but this is not may provide. Your best option is to set up direct deposit or maintain the minimum balance, both of which are permanent solutions.