Reviewed by Jen, founder of MoneyMint · Updated October 3, 2026
TD Unlimited Chequing Account
Our take: the most useful big-bank everyday account on our list if you also carry a TD credit card — the first-year annual fee rebate of up to $139 and no TD ATM fee anywhere in Canada are real money. It only works out if you can keep $4,000 in the account every single day to waive the $17.95 monthly fee.
- Goes straight to TD
- Our review
TD Unlimited Chequing is TD Canada Trust’s mid-tier everyday banking account. It sits between TD Every Day Chequing, which caps you at 25 transactions a month, and the TD All-Inclusive Banking Plan, which costs $30.95 a month and bundles in a safety deposit box. Unlimited is the version most people are actually choosing when they open a TD chequing account: unlimited transactions, free Interac e-Transfers, no TD fee at any ATM in Canada, and a first-year annual fee rebate on one of five TD credit cards. The catch is the price. At $17.95 a month it costs $215 a year unless you keep $4,000 in the account at the end of every day, and the balance earns nothing while it sits there. TD is a CDIC member, so eligible deposits are protected up to the standard CDIC limits.
MoneyMint rating
#8 of 16 chequing accounts · How we rate
$96
real annual cost — the fee, or the interest given up on the balance that waives it, whichever is lower. Run your own numbers →
The $4,000 waiver does not make this account free. It changes what it costs from $215 a year to about $96 — because that $4,000 earns nothing sitting in a chequing account.
The waiver is the better of the two options here. You would need to tie up close to $8,975 before paying the $17.95 outright became cheaper. But it is not the same as a free account.
There is a third option this comparison makes visible: a chequing account with no monthly fee at all, with the $4,000 kept in savings instead. That costs nothing and earns the $96.
Which is right depends on whether you would keep that $4,000 idle anyway. If it is a buffer you never touch and never intended to invest, the waiver costs you little in practice. If you are stretching to hit the minimum, or that money could be working, the real cost is the full $96 — and a no-fee account is the better answer. See our chequing account ranking and best high-interest savings rates.
Real annual cost is the lower of the annual fee and the interest given up on the balance needed to waive it. The 2.40% comparison rate is the highest rate available with no conditions among the savings accounts we track, checked September 17, 2026. Run your own numbers →
The Credit Card Fee Rebate, and When It Is Actually Worth Something
This is the feature that separates TD Unlimited from the other big-bank chequing accounts we track. Hold the account and TD rebates up to $139 of the primary cardholder annual fee on one eligible TD credit card for the first calendar year the card is open. If the card’s annual fee is less than $139, you get the fee amount, not the difference. There are five eligible cards:
- TD Aeroplan Visa Infinite Card — $139 primary annual fee, fully covered
- TD First Class Travel Visa Infinite Card — $139, fully covered
- TD Cash Back Visa Infinite Card — $139, fully covered
- TD Platinum Travel Visa Card — $89, fully covered
- TD Aeroplan Visa Platinum Card — $89, fully covered
Two limits are worth understanding before you treat the rebate as a reason to open the account. First, it is one rebate per account. If you hold two eligible TD cards, TD applies it to the one with the higher primary annual fee, and the other card’s fee is yours to pay. Second, and more often missed: several of these cards already waive the first-year annual fee as part of their own welcome offer. When that is the case, the account rebate and the card offer are covering the same year, so the rebate adds nothing on top. The rebate is most valuable when you are opening an eligible card that is not currently running a first-year waiver, or when you are keeping the account long enough that a card opened later picks it up. Check which offer is live on the card you want before you assume the two stack.
If you keep the account purely for the rebate, compare honestly: $139 back once, against $215 a year in fees if you cannot hold $4,000. The rebate wins only if the fee is waived or the card would otherwise cost you full price.
Not Sure? Three Accounts People Compare It With
BMO Performance Chequing Account
Pick this instead if you want the same structure with a larger headline offer and no TD relationship.
Fee $17.95Min $4,000Bonus up to $700
Simplii Financial No Fee Chequing Account
Pick this instead if you would rather pay nothing than park $4,000 to avoid a fee.
Fee $0Bonus up to $350
Tangerine No-Fee Daily Chequing Account
Pick this instead if you want no fee and no minimum balance at all.
Fee $0Min None
TD Unlimited Chequing Account
$17.95/month · unlimited transactions · $500 cash offer ends Nov 2, 2026
Frequently Asked Questions
How much does the TD Unlimited Chequing Account cost per month?
The standard monthly fee is $17.95, or $11.95 if you are 60 or older. TD rebates the fee in full in any month you keep $4,000 or more in the account at the end of every day.
What is the minimum balance to avoid the TD Unlimited Chequing fee?
$4,000. The balance has to be there at the end of each day of the month, not on average, so a single day below the threshold means you pay the fee that month.
Does the TD Unlimited Chequing Account pay interest?
No. It is a chequing account and pays nothing on your everyday balance. The 4.00% promotional rate in TD current campaign applies to a separate TD savings account.
Which TD credit cards get the annual fee rebate?
Five: the TD Aeroplan Visa Infinite, TD Aeroplan Visa Platinum, TD First Class Travel Visa Infinite, TD Platinum Travel Visa and TD Cash Back Visa Infinite. The rebate is up to $139 of the primary cardholder annual fee for the first calendar year the card is open, and only one card per account can receive it.
Is the TD $750 offer really worth $750?
Not usually. $500 is cash for opening a qualifying chequing account by November 2, 2026 and completing two qualifying activities by January 4, 2027. Another $150 requires you to also open a TD savings account and be approved for a TD credit card. The last roughly $100 is TD estimate of bonus interest on a $10,139 balance, not a payment.
Are there ATM fees with TD Unlimited Chequing?
TD does not charge its own ATM fee at any ATM in Canada. Withdrawals at foreign ATMs cost $3 each in the U.S. and Mexico and $5 each in other countries.