You can remove a DBA from a TD Bank checking account, but the process depends on whether you're the sole owner or a co-owner, and TD will require you to close the account and open a new one under your personal name
TD Bank does not allow you to simply delete a DBA designation from an existing account. Instead, you must close the account registered under the DBA and open a new personal checking account. This is because a DBA (Doing Business As) is a separate legal entity from your personal name, and the account structure itself is tied to that entity.
The timeline for this process is usually one to two business days for the account closure and one to three business days for the new account to become fully active. You'll need to move any automatic deposits or payments to the new account number before closing the old one, or they will fail.
Key Takeaways
- TD Bank requires you to close the DBA account entirely and open a new personal account; you cannot convert one to the other.
- You must update all automatic payments, direct deposits, and recurring transfers to your new account number before closing the old one.
- If the account has a balance, TD will transfer it to your new account or issue a check, depending on your choice.
- If you are a co-owner on the DBA account, both owners must be present or provide written authorization to close it.
- Any outstanding checks or pending transactions tied to the old account number may be rejected after closure.
Steps to close your DBA account and open a personal account
Start by gathering your identification and any recent statements from the DBA account. Visit a TD Bank branch in person—you cannot close a DBA account online or by phone. Bring your driver's license or passport and the account number.
Tell the banker you want to close the DBA checking account. They will ask why, but you are not required to explain. The banker will then walk you through opening a new personal checking account in your individual name. You can choose the account type (basic checking, premium, etc.) at this time. Once the new account is open, the banker will process the closure of the DBA account and transfer any remaining balance to your new account, usually within one business day.
Before you leave the branch, ask the banker for written confirmation of both the closure date and the new account number. Keep this receipt.
What happens to money in your DBA account
Any funds in the DBA account will be transferred to your new personal account automatically. This transfer typically completes within one business day of closure. You do not lose the money—it simply moves to the new account.
If you prefer to receive a check instead, tell the banker before they process the closure. They can issue a check payable to you personally for the full balance. This check is usually ready the same day or the next business day.
Updating automatic payments and direct deposits before closure
This is the most critical step and the one most people overlook. Any employer direct deposits, bill payments, or recurring transfers tied to your old DBA account number will fail once the account closes. You have a window of a few days to update these before the closure is final.
Contact your employer's payroll department and provide your new account number and routing number. Do the same for any automatic bill payments (utilities, insurance, loan payments, subscriptions). Most companies allow you to update this information online through their website or by calling customer service. Ask for confirmation that the change has been processed.
For peer-to-peer transfers (Venmo, PayPal, Zelle), update your linked bank account in the app settings. For any checks you have written against the old account, stop using them immediately—they will bounce after closure.
If you are a co-owner on the DBA account
Both owners must be present at the TD Bank branch to close the account, or one owner must provide a notarized letter of authorization from the other. TD requires this because closing an account affects both parties' access to the funds.
If you and your co-owner disagree about closing the account, you cannot unilaterally close it. You would need to contact TD Bank's customer service or visit a branch to discuss your options, which may include removing yourself as an owner instead (though this is a separate process and not all accounts allow it).
What to do if you need the DBA account to stay open
If you want to keep a business account but no longer want it under a DBA name, you have two options: convert it to an LLC or sole proprietorship account, or keep the DBA but use your personal account for personal expenses.
TD Bank offers business checking accounts for sole proprietors, LLCs, and other business structures. If you want to formalize your business, you can open a new business account under your business entity name and close the DBA account. This requires different documentation (EIN, business license, or Articles of Organization) and may have different fees.
Alternatively, if you simply want to separate business and personal spending, you can keep the DBA account open and open a new personal account for your own use. This gives you two accounts but avoids the hassle of updating all your automatic payments.
Common issues after closing a DBA account
The most common problem is a direct deposit or automatic payment that bounces because it was still tied to the old account number. If this happens, contact the company or your employer immediately and provide your new account number. Ask them to resubmit the transaction. Most will do this at no charge if you contact them within a few days.
Another issue is outstanding checks. If you wrote a check against the DBA account and it hasn't cleared yet, it will bounce after the account closes. Contact the recipient and ask them to wait for a new check from your personal account, or offer to pay by another method (ACH transfer, credit card, etc.).
If you receive a notice that a transaction failed after closure, keep the notice and contact TD Bank with proof that you closed the account on a specific date. They can sometimes help trace what happened and may be able to reverse fees if the failure was not your fault.
Frequently Asked Questions
Can I keep the DBA account open and just stop using it?
Yes, but TD Bank may charge a monthly maintenance fee on inactive accounts, which varies by account type. If you want to avoid fees, you should close it. Check your account agreement or call TD Bank to confirm the fee structure for your specific account.
How long does it take to open a new personal account at TD Bank?
A new personal checking account usually opens immediately in the branch, and you can use it the same day. However, it may take one to three business days for all features (online banking, debit card activation) to be fully available.
Will closing the DBA account affect my credit score?
No. Closing a business checking account does not appear on your personal credit report and does not affect your credit score. Business accounts are not tied to personal credit.
What if I have pending checks that haven't cleared yet?
Wait until all outstanding checks have cleared before closing the account. You can check your account online or call TD Bank to see which checks are still pending. Once they clear, you can safely close the account.
Can I reopen a DBA account with TD Bank later?
Yes. You can open a new DBA account at any time by visiting a branch with your identification and DBA registration documents. There is no waiting period or penalty for having closed a previous DBA account.