How to close TD bank account in Ontario, Canada?
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- Updated On:02-Aug-2023
- Replies:1
Short Answer
TD Bank is one of the largest Canadian banks offering various financial services in Canada. Closing a TD Bank account is a simple online process. An individual can follow the following steps properly for a successful account closure.
Detailed Answer
Toronto Dominion Bank is a financial institution based in Toronto and is one of the largest banks in Canada. It provides various financial and banking-related services to its user including personal banking services such as savings accounts, credit cards, and insurance along with investing and brokerage-related services.
It supports online banking and allows an account holder to manage most of their account from home. The closing process of a TD bank account is fairly simple and convenient for an account holder.
TD Account Closure Process Canada
To close a TD bank account successfully, the account holder should follow the following steps:
- Withdraw Funds: All the funds in the account should be withdrawn to another bank account. The pending balance in the account should be zero and the remaining funds should be cleared before time. This ensures a seamless account closure procedure as all the balances are settled.
- Account Closure Request: After settling and withdrawing all the funds from the account, the account holder is required to request an account closure. A user can place an account closure request to TD Bank in the following available options:
- The individual can get in touch with TD Bank customer support representatives by calling on 1-866-222-3456 and can request account closure through the same.
- The individual can also visit the nearest branch of TD Bank to initiate the account closure process.
- The individual can also request account closure through a request via letter mentioning all the required details of the account holder.
- Verify Closure Status: After all the process is completed, the individual holding the account should check and confirm the account closure. Any possibility of improper closure of a brokerage account can lead to various penalties and possibilities of other financial complexity and tax filing-related problems.
Closing Your TD Bank Account:
Although closing a TD bank account is an easy process, the bank charges an individual in some special cases of account closure which vary according to the situation. TD Bank also charges fees for account transfers to other financial institutions amounting to $15. Hence, by following the process properly, an individual can close a TD bank account properly.
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Discussion (0)
To close your TD bank account, you can either visit the branch physically, call their customer care number or write a letter to them. Sounds really simple! Isn't it?
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