TD Bank Business Account: 2025 Review

Q: What do you need to open a business account at TD Bank?

The documents you need may vary depending on whether you open the account online or at a branch, but at a minimum you may need the following documents: Fictitious name/assumed name/DBA/trade name certificate or registration Chapter and Bylaws of Association or copy of minutes of last meeting with new elected officers Partnership Banking Agreement

Q: Is TD Bank good for small business?

TD Bank’s geographical footprint in the United States is concentrated along the East Coast, so TD Bank may be right for small businesses located in that region. TD Bank may not be right for your small business if you have few or no business connections in the Southeastern, Mid-Atlantic, or New England regions of the United States.

Q: Does TD Bank have free business checking?

TD Bank generally does not offer free business checking to small business owners, but TD Bank may waive the monthly maintenance fee on certain business checking accounts if the account holder meets certain balance requirements. The TD Business Simple Checking has a monthly maintenance fee that generally cannot be waived, but nonprofit organizations may receive a monthly maintenance fee waiver on that fee.

Q: What are the requirements to open a TD Bank business account?

You generally need to be the owner or individual with control of the company to open a TD Bank business account. You may also need to have a business in one of the states where TD Bank operates.

Q: What are the benefits and drawbacks to a TD Bank business bank account?

TD Bank has low or no fees when waived, which is a great fit for small businesses with a budget. However, in the U.S., it has locations only in select states along the East Coast and in Washington, D.C.

Check Your Rate

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Susan GuilloryUpdated September 8, 2025

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TD Bank business accounts offer some of the most competitive fees and benefits of any bank catering to small businesses, including an interest-earning checking account option.

Pros and Cons of TD Bank Business Account

Pros	Cons
Some branches open on Sundays	Only has U.S. branches in the Eastern part of the country
Option to earn interest on one kind of checking account	Limited ATMs and fees to use non-TD Bank ATMs

TD Bank Business Account Rates, Fees, Types, and More

TD Bank offers business checking and saving accounts, as well as loans, credit cards, and lines of credit. Read on for fees, rates, and requirements for these account types:

TD Bank Business Checking

Maintenance fees:

TD Business Simple Checking℠: $10 monthly maintenance fee
TD Business Convenience Checking Plus: $25 monthly maintenance fee (waivable with minimum daily balance)
TD Business Premier Checking℠: $30 monthly maintenance fee (first three statement cycles waived)
TD Business Interest Checking Plus: $15 monthly maintenance fee (waivable with minimum daily balance)

Minimum daily balance to waive monthly maintenance fee:

TD Business Simple Checking℠: N/A
TD Business Convenience Checking Plus: $1,500
TD Business Premier Checking℠: $40,000 across all accounts
TD Business Interest Checking Plus: $2,500

Free monthly transactions:

TD Business Simple Checking℠: 200
TD Business Convenience Checking Plus: 500
TD Business Premier Checking℠: 500
TD Business Interest Checking Plus: 200

TD Bank Business Savings and Money Market

Interest rates:

TD Business Savings: Rates may change at any time without notice
TD Small Business Premium Money Market: Tiered interest rates

Maintenance fees:

TD Business Savings: $5 monthly maintenance fee (waivable with minimum daily balance)
TD Small Business Premium Money Market: $15 monthly maintenance fee (waivable with minimum daily balance)

Minimum daily balance to waive monthly fee:

TD Business Savings: $500
TD Small Business Premium Money Market: $2,500

TD Bank Business Certificates of Deposit (CDs)

TD Bank offers the following business CDs that typically earn interest with a fixed annual percentage yield (APY):

TD Business Basic CDs
TD Business No-Catch CDs
TD Business Jumbo CDs

Minimum deposit to open and maintain account:

TD Business Basic CDs: $5,000
TD Business No-Catch CDs: $25,000
TD Business Jumbo CDs: $50,000

Terms:

TD Business Basic CDs: 91 days to 5 years
TD Business No-Catch CDs: 3, 5, 9, or 11 months
TD Business Jumbo CDs: 7–75 days

TD Bank Business Credit Cards

The TD Business Solutions Credit Card may allow you to earn cash back rewards for your business. The card has a variable annual percentage rate (APR).

TD Bank Business Loans and Lines of Credit

TD Bank offers a variety of business loans, lines of credit, and SBA loans, including the following products:

Commercial real estate loans
Term loans
SBA 7(a) loans
SBA 504 loans
SBA Express Loans

Alternatives to a TD Bank Business Account

TD Bank online business accounts aren’t your only options for business banking services. While researching business bank accounts, it can be helpful to explore other banks and reviews, such as Bank of America’s small business options, for starters.

What Types of Business Accounts Does TD Bank Offer?

TD Bank small business account services include the following:

Business checking accounts
Business savings accounts
Business money markets
Business certificates of deposit (CDs)
Business loans
Business lines of credit
A business credit card
TD Bank business services, including online accounting and merchant services

Small business financing from any bank may include small business loan fees.

TD Bank Business Checking

The TD Bank business checking account is one of the leading small business checking account options available to small businesses, with four accounts to choose from:

TD Business Simple Checking℠: A basic business account with no minimum balance requirement, a low monthly fee, and no transaction charge on up to 200 items paid and/or deposited per statement cycle.
TD Business Convenience Checking Plus: Provides online payment options, no transaction charge on up to 500 items paid and/or deposited per statement cycle, and the monthly fee is waived if you maintain a $1,500 minimum daily balance.
TD Business Premier Checking℠: Offers the most perks of any TD Bank small business checking account, including free unlimited money orders and cashier’s checks.
TD Business Interest Checking Plus: An interest-earning account that also includes up to 200 items paid and/or deposited free per statement.

TD Bank Business Savings, CDs, and Money Markets

When it comes to a savings account for small businesses, there are two TD Bank business savings account options. You can open a TD Simple Savings account with as little as $25, but you’ll need to have a minimum daily balance of $300 if you want to get the $5 monthly maintenance fee waived. A TD Signature Savings account offers higher interest rates for those with balances over $100,000. The monthly fee is $15, but it can be waived with a $10,000 minimum daily account balance.

You might also consider TD Bank’s business money market account, or one of three business CD options:

TD Business Basic CDs: These basic CDs offer a fixed rate of return and a variety of term options.
TD Business No-Catch CDs: This CD option allows you to take one penalty-free withdrawal per term.
TD Business Jumbo CDs: These are short-term CDs that can offer guaranteed returns.

TD Bank Business Credit Cards

As mentioned earlier, TD Bank has a credit card for businesses. If you’re interested in top small business credit cards, the TD Business Solutions Credit Card may allow you to earn cash back rewards for your business.

TD Bank Business Loans and Lines of Credit

TD Bank business banking offers simplified lending products compared with other banks, including online small business loans and lines of credit up to $250,000. Those who need more than $250K in financing may need to apply in person at a brick-and-mortar TD Bank branch.

Why Choose TD Bank

TD Bank offers a variety of products and services for small businesses, including an interest-bearing checking account and other deposit account options. It may be a great option for those on the East Coast, where the bank concentrates its U.S. branches.

Important to Keep in Mind

While the Simple Checking maintenance fees are just $10 a month, other checking accounts have TD Bank business account fees of $25 or $30, which can add up. Be sure you can qualify to waive those fees if you need the features those accounts provide. Also keep in mind that the $10 monthly maintenance fee on the Simple Checking account generally cannot be waived even if you carry a sizable account balance.

Opening a TD Bank Business Account

There are a few things you’ll need to open a business bank account at TD Bank, but generally the process is painless and fast.

TD Bank Business Account Requirements

TD Bank business account requirements are similar to those for other banks. Applicants may need to be the owner or individual with control of the company to open a TD Bank business account. Applicants may also need to have a business in one of the states where TD Bank operates.

TD Bank has U.S. branches in Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia, and Washington D.C.

How to Open a TD Bank Business Account

To open your account, you may need several documents and pieces of information. If you’re opening your account online, you may need:

DBA/fictitious name/assumed name/trade name certificate or registration
Chapter and Bylaws of Association or copy of minutes of last meeting with new elected officers
Partnership Banking Agreement

If you’re opening an account at a branch, you may need:

DBA/fictitious name/assumed name/trade name certificate or registration
Chapter and Bylaws of Association or copy of minutes of last meeting with new elected officers
Partnership Banking Agreement
Document used to form and register your business, e.g., Articles of Incorporation/Organization, Certificate of Good Standing
Board of Directors Resolution/Bylaws
LLC Operating Agreement

The Takeaway

For businesses on the East Coast, TD Bank offers affordable banking and long hours (some branches are even open on Sundays). If the basic checking account suffices, it’s got some of the lowest fees of any business banking account, and if you need more, it’s easy enough to waive the higher fees of other checking options.

If you’re in need of a small business loan, Lantern by SoFi can help you find the right financing for your business. Just fill out a simple form and see today’s rates for small business loans.

Fast funding for your business: Loans up to $2 million.

Frequently Asked Questions

What do you need to open a business account at TD Bank?

Is TD Bank good for small business?

Does TD Bank have free business checking?

What are the requirements to open a TD Bank business account?

What are the benefits and drawbacks to a TD Bank business bank account?

About the Author

Susan GuillorySu Guillory is a freelance business writer and expat coach. She’s written several business books and has been published on sites including Forbes, AllBusiness, and SoFi. She writes about business and personal credit, financial strategies, loans, and credit cards.

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