What you need to open a TD Bank savings account
You can open a TD Bank savings account in person at a branch, online through their website, or by phone. The fastest route is usually online if you have your documents ready. TD Bank will ask for a government-issued photo ID, your Social Security number, and proof of your current address (a utility bill, lease, or bank statement dated within the last 60 days works). You'll also need an initial deposit—the amount varies by account type, so check TD Bank's current requirements before you start, as these change.
If you're opening online, you can complete the entire process from home and fund the account immediately with a debit card or by transferring money from another bank account. If you go to a branch, bring your ID and documents in person; a banker will walk you through the forms and can answer questions about which savings product fits your situation. Phone applications take longer because the banker has to verify your identity verbally and mail you documents to sign.
You'll need to choose between TD Bank's standard savings account and any promotional or specialty savings products they're currently offering. Each has different minimum balance requirements and interest rates. Ask about any current promotions—TD Bank periodically offers higher rates for new accounts or waives minimum balances for a set period.
Key Takeaways
- You need a government photo ID, Social Security number, and proof of address dated within the last 60 days to open any TD Bank savings account.
- Opening online is fastest if you have your documents ready and can fund the account immediately with a debit card or transfer from another bank.
- Minimum deposit amounts and interest rates vary by account type, so confirm TD Bank's current requirements before you begin.
- In-person applications at a branch take about 15 to 30 minutes; online applications usually complete in under 10 minutes.
- You can link your new savings account to an existing TD Bank checking account or open both at the same time.
Opening an account online through TD Bank's website
Go to TD Bank's website and look for the "Open an Account" or "Savings Accounts" section. You'll enter your personal information, Social Security number, and date of birth. TD Bank will ask for your current address and verify it matches their records. Have your ID ready—you may need to upload a photo or answer security questions to confirm your identity.
Once your identity is verified, you'll choose your account type and set up online banking access. TD Bank will give you a username and temporary password. At this point, you can fund the account by linking a debit card, transferring money from another bank account, or setting up a direct deposit. The account is usually active within one business day, though transfers from other banks may take three to five business days to appear.
After you open the account online, TD Bank will mail you a debit card and checks (if you requested them). You can start using the account for transfers and bill pay immediately through online banking, even before the physical card arrives.
Opening an account in person at a TD Bank branch
Find your nearest TD Bank branch using their branch locator on the website or by calling 1-800-937-8372. Bring your government-issued photo ID, proof of address, and your Social Security number. If you have an existing TD Bank account, bring that information too—it speeds up the process.
A banker will review your information, explain the account options, and help you choose the right savings product. They'll fill out the account opening forms with you and answer questions about fees, interest rates, and minimum balances. The whole process usually takes 15 to 30 minutes. You can make your initial deposit by cash, check, or debit card on the spot.
The banker will give you temporary access information for online banking before you leave the branch. Your debit card will arrive by mail within 7 to 10 business days. You can start using the account immediately through online banking or at any TD Bank ATM.
Funding your new account and setting up online access
After your account opens, you have several ways to add money. If you opened online or in person, you can transfer funds from another bank account using the routing number and account number TD Bank provides. This usually takes three to five business days. You can also set up direct deposit of your paycheck or other regular income—TD Bank will give you the routing and account numbers you need to provide to your employer or benefits administrator.
If you opened in person, you can deposit cash or checks at the branch immediately. If you opened online, you'll need to wait for your debit card to arrive or use a TD Bank ATM to deposit checks (if your account includes mobile check deposit, you can photograph checks through the app instead).
Set up online banking and the TD Bank mobile app as soon as your account is active. You'll use these to check your balance, transfer money between accounts, pay bills, and monitor your savings. TD Bank's online platform lets you set up savings goals and automatic transfers to help you save regularly.
Understanding TD Bank savings account types and features
TD Bank offers a standard savings account and may have promotional savings products available. The standard account typically has no monthly fee if you maintain a minimum balance (the amount varies). Interest rates change based on the Federal Reserve's rate decisions and TD Bank's own policies, so rates are higher at some times than others.
Some TD Bank savings accounts come with features like automatic transfers from checking to savings, which can help you save without thinking about it. Others may offer higher rates if you commit to not withdrawing money for a set period. Ask the banker or check online to see what's currently available—promotional rates and bonuses change throughout the year.
If you're opening a savings account to reach a specific goal (a vacation, emergency fund, down payment), tell the banker. They can explain which account features will help you stay on track and whether any current promotions match your timeline.
What happens after your account opens
Your account is active immediately if you opened online or in person. You can log into online banking right away and start transferring money, setting up bill pay, or scheduling automatic transfers. Your debit card arrives by mail within 7 to 10 business days. Until it arrives, you can withdraw money at any TD Bank branch or ATM using your temporary access information.
Check your account regularly during the first month to make sure all deposits posted correctly and no unexpected fees appeared. If you set up direct deposit, confirm with your employer that they received the routing and account numbers correctly—it usually takes one or two pay periods for the first deposit to arrive.
If you have questions after opening, call TD Bank at 1-800-937-8372 or visit a branch. You can also use the chat feature in online banking or the mobile app to reach customer service.
Frequently Asked Questions
Can I open a TD Bank savings account if I don't have a checking account with them?
Yes. You can open a savings account on its own without having a TD Bank checking account. However, many customers find it convenient to open both at the same time, especially if they want to set up automatic transfers between accounts. You can open a savings account alone if that's all you need.
What if I don't have a proof of address document?
TD Bank requires proof of address dated within the last 60 days. If you don't have a utility bill or lease, ask the banker whether they accept other documents—some branches accept recent bank statements, insurance documents, or government mail. Call ahead to confirm what your branch will accept before you visit.
How long does it take to open an account online?
Online account opening usually takes 10 to 15 minutes if you have all your documents ready. Your account is active immediately, though transfers from other banks take three to five business days to appear. Your debit card arrives by mail within 7 to 10 business days.
Can I open a savings account for someone else or for a minor?
TD Bank offers accounts for minors, usually as a joint account with a parent or guardian. The adult must be present and provide their ID and Social Security number. Contact your local branch or call 1-800-937-8372 to ask about minor account options, as requirements vary by state.
What's the minimum deposit to open a TD Bank savings account?
Minimum deposit amounts vary by account type and change periodically. Some accounts have no minimum deposit, while others require $25 or more. Check TD Bank's website or ask a banker about the current minimum for the specific account you're interested in before you start the process.