Chequing accounts, savings accounts, and credit cards are fundamental banking products we rely on in our daily lives.
- A premium chequing account offers VIP banking services, benefits, and perks; however, it also incurs significant monthly fees. In contrast, a low monthly fee chequing account typically comes with limited banking services, which can lead to service fees later on, potentially resulting in higher overall costs than the monthly fees of a premium account during certain months.
- A premium credit card offers a handful of rewards or cashback points for every dollar spent, but it also has substantial annual fees. In contrast, no-annual fee credit card provides limited rewards. Depending on your spending levels, the difference in rewards and benefits can become significant over the course of a year.
What if there’s a way to enjoy VIP-level chequing, savings, and credit card options from TD Canada Trust without any fees coming out of your pocket? Let’s explore this together.
Emergency Fund is your Key
This strategy is ideal for anyone who has saved at least $6,000 for an emergency fund; it serves as a linchpin for optimal banking setup. Rather than letting it sit idle and earn minimal interest, we can unlock BMO’s best personal banking package by simply relocating the fund. In this setup, you can say goodbye to hefty bank fees while ensuring your emergency fund remains readily available for unexpected “rainy days.”
If you’re not yet familiar with the idea of an Emergency Fund and why it’s so important, I highly recommend checking out Emergency Fund: We all got ‘rainy days’. It’s a great resource that will guide you in preparing for those unexpected rainy days — on top of all the potential benefits you can unlock!
TD Product Range*
| CHEQUING Accounts | SAVINGS Accounts | CREDIT CARDS |
| TD Minimum Chequing Account | TD Growth™ Savings Account | TD Cash Back Visa Infinite Card |
| TD Every Day Chequing Account | TD Every Day Savings Account | TD Cash Back Visa Card |
| TD Unlimited Chequing Account | TD ePremium Savings Account | TD Aeroplan Visa Infinite Card |
| TD All-Inclusive Banking Plan | TD Aeroplan Visa Platinum Card | |
| TD Aeroplan Visa Infinite Privilege Card | ||
| TD First Class Travel® Visa Infinite Card | ||
| TD Platinum Travel Visa Card | ||
| TD Rewards Visa Card | ||
| TD Low Rate Visa Credit Card |
*As of May 2025
There are 108 potential combinations. One combination is having a TD Minimum Chequing Account ($3.95/month), a TD Every Day Savings Account, and the TD Cash Back Visa with no annual fee. The question lingers: Is this the best we can do? The banking service from the Minimum Chequing Account is limited, yet we still pay a monthly fee. Furthermore, the cash-back rewards are relatively low.
Our choice for ‘Optimal Banking’ with TD Canada Trust unlocks a VIP premium package with no fees. All you need to do is relocate and maintain an emergency fund of $6,000 in a chequing account, not in a savings account. Counter-intuitive?
Optimal TD Banking Trio
- Chequing: TD All-Inclusive Banking Plan
- Savings: TD Every Day Savings Account
- Credit Card: Your choice of TD First Class Travel Visa Infinite or TD CashBack Visa Infinite Card
Chequing – TD All-Inclusive Banking Plan
- The monthly fee is $30.95. Parking your $6,000 emergency fund (or other available funds) here directly eliminates the monthly fee.
- Key Concept: You’re essentially earning 6.19% interest, as the $30.95 monthly fee is waived, saving you $371.40 annually. Plus, you get all premium banking services and perks.
- Digest Concept: One way to replicate this effect is to find a savings account that earns $30.95 monthly on a $6,000 balance, which translates to a 6.19% interest rate. Then, use this amount to cover the monthly fee for the TD All-Inclusive, allowing you to enjoy all the VIP banking services, plus an annual fee rebate of up to $139 on eligible credit cards. In this scenario, there’s no need to maintain any balance in the All-Inclusive account. So, unless you find a savings account with a 6.19% interest rate, parking $6,000 here remains the optimal choice.
- Standout Perks: An annual fee rebate (up to $139) on an eligible TD credit card.
Savings – TD Every Day Savings Account
- The monthly fee is $0, and the first transaction each month is free; subsequent debit transactions are $3.00 each.
- It is the optimal choice in a general sense. You earn interest from your very first dollar—no minimum balance required to get started.
- Other TD savings accounts may offer higher interest rates, but they often require you to leave $5,000 or even $10,000+ in them. Since most of your emergency fund of $6,000 is sitting to waive fees in your All-Inclusive, this account is perfect for saving extra cash or for short-term savings goals.
- BrushMoney Tip: Transfers between your TD savings and chequing accounts are free and unlimited. Whenever you need to access funds from your savings account, transfer them to your chequing account before making a withdrawal or payment to avoid transaction fees.
Credit Card – TD CashBack Visa Infinite or TD First Class Travel Visa Infinite
- The annual fee for the both TD Visa Infinite credit cards is $139 per year.*
- These are TD’s flagship rewards cards. The TD All-Inclusive Banking Plan offers an annual fee rebate (up to $139) for one of these premium credit cards, effectively making them free. The best choice entirely depends on your personal spending and the type of rewards you value most. Refer to This rewards comparison table below.
- TD CashBack Visa Infinite – The cash back percentage directly translate to its dollar value. For instance, a cash back rate of 3% translates to $3.00 for every $100 spent on essential categories such as groceries, gas & EV charging, and recurring bill payments. This option is the best choice for most common lifestyles.
- TD First Class Travel Visa Infinite – The value is based on TD Rewards Points. The best redemption value is for travel booked through ‘Expedia For TD‘, where 200 points = $1. This translates to $4.00 for every $100 spent. It also earns more points on groceries, dining, and public transit.
| Spending Category | TD CashBack Visa Infinite* | TD First Class Travel Visa Infinite |
| Groceries | $3.00 (at 3%) | $3.00 (at 6 points per $1) |
| Gas & EV Charging | $3.00 (at 3%) | $1.00 (at 2 points per $1) |
| Recurring Bill Payments | $3.00 (at 3%) | $2.00 (at 4 points per $1) |
| Dining & Public Transit | $1.00 (at 1%)² | $3.00 (at 6 points per $1) |
| Travel | $1.00 (at 1%) | $4.00 (at 8 points per $1) |
| All Other Purchases | $1.00 (at 1%) | $1.00 (at 2 points per $1) |
*Spending Caps: The TD CashBack Visa Infinite card typically has an annual spending cap of $15,000 for each of its 3% cash back categories (Groceries, Gas, Recurring Bills).
Upfront Welcome Bonus Package
If you’re new to TD Canada Trust, Don’t miss out the attractive welcome bonuses! As of June 2025, typical offers may include:
- All-Inclusive Banking Plan & TD Every Day Savings Account: Get up to $500 in cash. Earn $450 when you open a new TD All-Inclusive Banking Plan and complete qualifying actions such as setting up a recurring direct deposit, making an online bill payment, and establishing a pre-authorized debit. Earn an additional $50 when you also open a new TD Every Day Savings Account and set up a pre-authorized transfer or Simply Save. Conditions apply. Offer ends November 5, 2025.
- TD CashBack Visa Infinite* Card: Earn up to 10% in Cash Back Dollars during the first 3 months on Bonus Eligible Purchases (including groceries, gas, and monthly recurring bills) on total spending of up to $3,500, amounting to $350. Additionally, enjoy $89 for 24/7 Emergency Roadside Assistance with a Deluxe TD Auto Club membership, offering excellent value beyond just cash back points. Conditions apply.
- TD First Class Travel Visa Infinite Card: Earn up to 135,000 TD Rewards Points ($675) and a $100 annual TD Travel Credit. This offer also includes a complimentary membership in the Visa Airport Companion Program (managed by DragonPass), which provides 4 free lounge passes per year. Points are typically earned through a bonus on your first purchase and an additional bonus when you meet a spending threshold within the first 180 days. Conditions apply.
*Important: Welcome offers change frequently and have specific conditions (e.g., minimum spend, account activities, expiry dates). Always check the official TD Canada Trust website for the latest details and eligibility before applying. Condition apply.
TD Optimal Banking Benefits at a Glance
Chequing & Savings
| Key features | TD All-Inclusive Banking | TD Every Day Savings |
| Monthly Account Fee | $0 (Value of $30.95/month saved)¹ | $0 |
| Credit Card Fee Rebate | Yes – rebate up to $139 annual fee | No |
| Unlimited Transactions | Yes | No (1 free debit transaction/month) |
| Free Interac e-Transfers® | Yes | No |
| Free Bank Draft | Yes – $9.95 per bank draft | No |
| Free Personal Cheques | Yes | No |
| Free Safety Deposit Box | Yes – Small Size | No |
| Welcome Offer | Yes (value of $450)* | Yes (value of $50) |
¹ Based on the $30.95 monthly fee effective July 1, 2025, waived with a $6,000 minimum daily closing balance. * Subject to change as the promotional Welcome Offer is often refreshed each term.
TD Visa Infinite* Card Options
| Feature / Benefit | TD® CashBack Visa Infinite* Card | TD First Class Travel® Visa Infinite* Card |
| Annual Fee (with All-Inclusive Plan) | $0 (Regularly $139) | $0 (Regularly $139) |
| Primary Rewards | Cash Back | TD Rewards Points |
| Welcome Bonus | Often available (check current offers)* | Often available (check current offers)* |
| Rewards Highlights | • refer to rewards comparison table | • refer to rewards comparison table |
| Key Travel Perks | • Deluxe TD Auto Club Membership • Insurance: Travel Medical , Trip Interruption/Delay, Lost/Delayed Baggage, and Auto Rental Collision/Loss Damage Insurance | • $100 Annual TD Travel Credit for bookings via Expedia® ($500 min spend) • Insurance: Travel Medical, Trip Interruption/Delay , Lost/Delayed Baggage, and Auto Rental Collision/Loss Damage Insurance |
| Shopping & Other Perks | • Purchase Security & Extended Warranty • Mobile Device Insurance | • Purchase Security & Extended Warranty • Mobile Device Insurance |
| Best For You If: | You prefer straightforward cash back on everyday spending. | You value a travel credit. |
*Please contact TD for more details * Subject to change as the promotional Welcome Offer is often refreshed each term.
Final Thoughts
Do you have more than $6,000 in emergency funds sitting in savings account? Relocate first $6,000 to the All-Inclusive Banking Plan to unlock a cascade of benefits: VIP banking services, no monthly fees, no annual fees for TD Visa Infinite credit cards with pack of perks – TD Optimal Banking Trio.
You may have a significantly larger amount (e.g., more than $10,000). then consider the TD ePremium or TD Growth Savings Account for potentially better rates on the excess over $6,000, as long as you meet their minimum balance requirements for higher interest tiers and conditions for boosted rates.
If you’re a dedicated fan of Air Canada and enjoy collecting Aeroplan points, consider the TD Aeroplan Visa Infinite Card. This card is part of the TD Visa Infinite series, which offers an excellent range of benefits.
TD Optimal Banking Trio serves as an excellent means to maximize value, convenience, and rewards through your relationship with TD Canada Trust. We hope this provides a solid foundation as a starting point for you to set up your own Optimal Banking. Please feel free to contact us with any questions or comments.
Important Note: If you need to access the Emergency Fund, ensure you switch your Credit Card to one with no annual fee and change your Chequing account to one with a lower minimum balance requirement before withdrawing the funds to avoid fees.
Disclaimer: Account features, fees, and promotional offers are based on publicly available information from TD Canada Trust. Always refer to the official website for the most current details to ensure any product is right for your financial situation. Credit card approval is subject to TD Canada Trust’s credit criteria.
