Frequently Asked Questions
“Can I open a TD Canada Trust account before arriving in Canada?”
You will need to wait until you arrive in Canada to open your TD Canada Trust account. The staff at the TD Canada Trust branch near you will be happy to discuss your banking needs with you and set up your accounts to meet them. Banking with TD Canada Trust is very convenient: we have a network of more than 1,100 branches across Canada and we’re open longer—on average, 50% longer than other Canadian banks. That means that you’ll find it easy to locate a TD Canada Trust branch and we’re more likely to be open at times that are convenient for you to do your banking.
“I recently arrived in Canada and I’m not sure how to set up a bank account.”
Simply collect the personal identification required to open your account and visit any TD Canada Trust branch. Our friendly branch staff can help you choose the right chequing or savings account for your needs, now and in the future.
“Why should I choose TD Canada Trust as my Canadian bank?”
You can rent a Safety Deposit Box at your TD Canada Trust branch, subject to availability. Once inside the box, your valuables will be kept under lock and key in a vault. Only you have the keys and only you can open the box. Access to your box is available during regular branch business hours.
In order to build a good credit history in Canada, you will need to apply for credit, which can be challenging when you are new to the country. One of the best ways to do this is to apply for a credit card.
Yes, it is easy to switch your account from another Canadian financial institution to TD Canada Trust. Simply visit any TD Canada Trust branch. Be sure to bring along your existing account number and transit number. If you do not already have a TD Canada Trust bank account, you’ll also need to bring the personal identification you need to open a new account. We’ll do the rest.
Visit any TD Canada Trust branch to open a Registered Education Savings Plan (RESP). An RESP allows you to invest or deposit money on your child’s behalf. The taxes are deferred until your child needs the funds to pay for post-secondary education. The government also contributes by providing grants to your child’s RESP.
There are a number of ways to save money for a down payment on your first Canadian home. For example, you can put aside money a little at a time by setting up a Pre-Authorized Transfer Service to transfer funds into your savings account on a regular basis. You can also set up a Tax-Free Savings Account (TFSA) so your savings grow tax-free. Once you have worked in Canada for a while, you may went to open a Registered Retirement Savings Plan (RRSP), which can be used to buy a first home, as well as to save for retirement. Your TD Canada Trust mortgage representative can sit down with you and help make a plan.
Yes. TD Canada Trust offers a daily interest savings account for children under 19 years of age that gives them a way to start saving for the future on a regular basis, while they’re still young. To open a Youth Account, simply visit your TD Canada Trust branch.
Yes. You and your spouse can open a joint account that allows both of you to make deposits, withdrawals, transfer funds and check balances.
The Government of Canada offers a number of useful free resources to new business owners in Canada. Small Business Advisors at TD Canada Trust can also help you open your business account and set up any financing you might need.
There are a number of ways to buy a car. TD Canada Trust offers affordable auto financing that can help you pay for your car purchase over a time period of up to 7 years—a good way to have a car while maintaining a healthy cash flow in your household.
As a Canadian financial institution, TD Canada Trust is one of the most secure banks in the world. Some types of savings and deposits at all Canadian banks, including TD Canada Trust, are insured by Canada Deposit Insurance Corporation (CDIC). The maximum basic protection for eligible deposits is $100,000 (principal and interest combined) per depositor in each bank that is a member of CDIC. Learn more about Canada Deposit Insurance.
1 TD is the Main Financial Institution of more South Asian, Chinese and Black New Canadians than any other FI in Canada (2010 Environics New Canadian Study and 2009 Ipsos Black Canadian Study)
The amount of the purchase price of a home or car that is paid by the buyer, using his or her own money. The remainder is usually borrowed from a financial institution in the form of a mortgage or car loan.
For advice about all your financial needs in Canada, visit a TD Canada Trust branch.
Come in and talk with us today.