You can close a TD savings account through the TD app, but the app will only let you close certain account types
TD Bank's mobile app lets you close some savings accounts without visiting a branch or calling customer service. The process takes a few minutes and happens in real time. However, the app cannot close every savings product — some accounts require a phone call or in-person visit, and you need to have a zero balance before you start.
The app works best for standard savings accounts and money market accounts. If you have a registered account (TFSA, RRSP, or RESP), a joint account, or an account with a hold or lien on it, the app will not give you the option to close it. You will see an error message telling you to contact TD directly instead.
Key Takeaways
- The TD app can only close savings accounts with a zero balance, so you must move or withdraw all money first.
- Registered accounts, joint accounts, and accounts with holds cannot be closed through the app and require a phone call or branch visit.
- Once you request closure in the app, TD processes it within one to three business days.
- You will receive a confirmation email and a final statement showing the account is closed.
- If the app does not offer a close option, call TD at 1-800-895-4463 or visit your nearest branch.
Steps to close your account in the TD app
Open the TD app and log in with your username and password. Tap the account you want to close from your list of accounts. Make sure you are looking at the savings account itself, not a linked chequing account or credit card.
Scroll down to the bottom of the account details screen. You should see a menu or settings option — this is usually three dots or a gear icon. Tap it and look for an option that says "Close Account" or "Manage Account." If you do not see this option, your account type cannot be closed through the app.
Tap "Close Account." The app will show you a confirmation screen that lists the account number and current balance. If the balance is not zero, you cannot proceed. Go back and transfer or withdraw the remaining funds, then return to this screen.
Once the balance is zero, confirm that you want to close the account. The app will ask you to select a reason for closing — this is optional, but TD uses this information to improve their service. Tap the final confirmation button. You will see a message saying your request has been submitted.
What happens after you submit the closure request
TD processes account closures within one to three business days. During this time, the account remains open but inactive. You cannot make deposits or withdrawals, and no interest will accrue. If you need to access the account before it closes, contact TD customer service to cancel the closure request.
You will receive a confirmation email at the address on file with your account. This email includes the date the account was closed and a reference number for your records. Keep this email in case you need to prove the account is closed for tax or legal reasons.
A final statement will be mailed to your address within seven to ten business days. This statement shows a zero balance and confirms the closure date. If you have paperless statements set up, you can view this statement in the app or through TD's online banking portal.
Account types that cannot be closed in the app
Registered accounts — TFSAs, RRSPs, and RESPs — must be closed by phone or in person. These accounts have tax implications, and TD requires you to speak with someone who can confirm you understand the consequences of closing before the deadline or withdrawal limits reset. Call 1-800-895-4463 to close a registered account.
Joint accounts cannot be closed through the app because both account holders must consent. You and the other account holder will need to visit a branch together or call TD with both of you on the line. Bring photo ID and the account number.
Accounts with a hold, lien, or legal freeze cannot be closed until the hold is released. This happens when a debt is paid off, a court order is satisfied, or a dispute is resolved. Contact TD to find out why the hold is in place and what you need to do to remove it.
What to do if the close option does not appear in your app
If you have scrolled to the bottom of your account details and do not see a close option, your account type is not supported for app closure. This is normal for registered accounts, joint accounts, and some specialty savings products. The app will not show an error — the option simply will not be there.
Call TD Customer Service at 1-800-895-4463. Have your account number and photo ID ready. A representative can close the account over the phone in about five minutes. You can also visit any TD Bank branch during business hours and ask a teller to close the account in person.
If you are closing the account because of a problem with TD's service or fees, mention this when you call or visit. TD may offer to keep the account open or waive fees if the issue can be resolved. You are not obligated to accept, but it is worth asking before you close.
Making sure your account balance is truly zero
Before you request closure, check your account balance in the app one more time. The balance must show exactly zero — even a penny remaining will block the closure. If you see a balance, you have money left to move or withdraw.
If you have set up automatic transfers or bill payments from this account, cancel them first. Automatic payments can post after you think the balance is zero, which will reopen the account or cause a negative balance. Log into the app, find the Transfers or Bill Pay section, and delete any scheduled transactions linked to this account.
If the account has been inactive for a long time, check for dormancy fees or service charges that may have been applied. These will show as a negative balance. Contact TD to find out the exact amount owed, pay it, and then proceed with closure.
After your account is closed
Once the account is closed, it will disappear from your list of accounts in the TD app within one to two business days. You will no longer be able to view the account details or transaction history through the app, but you can request old statements by calling TD or logging into their online banking portal.
If you had a debit card linked to this account, that card will stop working for this account. If the card was linked to multiple accounts, it will continue to work for your other accounts. You do not need to destroy the card — it will simply expire on its own.
If you receive a tax document (like a T5 or interest statement) for this account after it closes, keep it for your records. The final statement you receive will show any interest earned up to the closure date.
Frequently Asked Questions
Can I close my TD savings account if I still owe money on it?
No. You must pay off any negative balance before closure. If the account has a debt or overdraft, contact TD to settle it first. Once the balance is zero, you can close the account through the app.
What if I close my account by mistake?
Call TD immediately at 1-800-895-4463. If the account has not yet been processed (usually within 24 hours), a representative can cancel the closure request and reopen the account. After processing is complete, reopening is more difficult and may require a new account application.
Do I lose my transaction history after the account closes?
No. Your final statement will show all transactions up to the closure date. You can request copies of older statements by calling TD or visiting a branch. The app will no longer display the account, but TD keeps records for seven years.
Will closing my TD savings account affect my credit score?
Closing a savings account does not affect your credit score because savings accounts do not appear on your credit report. Only credit products like credit cards and loans impact your credit history.
Can I close my account if I have pending deposits or transfers?
No. Wait for all pending transactions to clear before you close the account. Check the app for any transactions marked as "pending" and let them complete. Once everything has posted and the balance is zero, you can proceed with closure.