Accounts
Simply Save Frequently Asked Questions
1) What is Simply Save?
The Simply Save program gives you an easier way to save
money. When you sign up for Simply Save, you can customize
your plan and save money without changing your spending
habits. What could be simpler than that?
2) How does Simply Save work?
Simply Save transfers a set amount of money from your chequing
account to a savings account when you use your TD Canada Trust
Access Card. And you get complete flexibility to choose:
- How much to transfer per transaction (from $0.50 to $5.00)
- What kind of transactions to include (debit purchase, ABM
withdrawal or both)
- What kind of TD Canada Trust account your savings go into,
including a High Interest TFSA Savings Account, your savings
account, or even someone else’s savings account
- How often savings will be transferred from your chequing
account to the savings account you choose (daily, weekly or
biweekly)
- How many transactions count toward your savings (for
example, the first five every week)
3) What if I don’t have enough funds in my chequing
account to cover a transfer at any point in time?
We won’t make the Simply Save transfer if there isn’t enough
money in your chequing account to cover it.
4) What do I need to sign up for Simply Save?
In order to take advantage of Simply Save, you will need:
- A TD Canada Trust Chequing Account
- A TD Canada Trust Savings Account
- A TD Canada Trust Access card
If you already have a TD Canada Trust Chequing Account or a TD
Canada Trust Savings Account, and are registered for EasyWeb
Internet Banking, all you have to do is open the account you
don’t have. You can do it online in minutes.
5) What accounts are eligible for Simply Save?
All personal Canadian dollar TD Canada Trust chequing accounts, and all Canadian dollar
personal TD Canada Trust savings accounts and TFSA High
Interest savings accounts.
Please note: The Daily Interest Savings Account (DISA) RSP is
eligible for Simply Save but is not eligible for the Bonus Offer.
Locked-in RSPs are not eligible for Simply Save transfers or the
Bonus Offer.
6) Can I set up Simply Save from a Chequing Account to
another Chequing Account, or from a Savings Account to
another Savings Account, OR from a Savings Account to a
Chequing Account?
Simply Save can only be set up from an eligible TD Canada Trust
Chequing Account to an eligible TD Canada Trust Savings
Account. If you don’t have a TD Canada Trust Chequing or
Savings Account, check out www.tdcanadatrust.com/accounts or
visit your nearest TD Canada Trust branch.
7)If my original debit card purchase is later returned, will
that result in my Simply Save transfer amount being
adjusted?
No, the original IDP transaction will still be counted as an eligible
Simply Save transaction when calculating the transfer amount
and no adjustment will be made.
8) Is Simply Save eligible on joint accounts?
Yes, all eligible transactions conducted on the joint account by all
account holders count towards the calculation of the transfer
amount.
9) When do Simply Save transfers occur?
Simply Save transfers accumulate and occur once daily, weekly or
biweekly, depending on the frequency you chose. It will appear as
a single transaction on your account history.
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