How To Close Your TD Bank Account

When you think of closing your bank account, do you think of it as a daunting, almost impossible, task? The thoughts of the fees, effort, and hassle that’s involved in closing your bank account is enough to make even the savviest consumer take pause and reconsider. However, closing your bank account doesn’t need to be intimidating. 

TD Bank is one of many, many banks in the U.S., but you may not be aware that its parent company is actually a Canadian Multinational Bank, known as Toronto-Dominion Bank. Like most other banks, TD Bank offers its customer’s a few options in closing their account. 

There could be any number of reasons to close your account. But, whatever your reasons, you should follow these steps to ensure that the process goes smoothly and your transition is seamless when you are determining How To Close Your TD Bank Account

TD Bank Account

Who is TD Bank?

Before we delve into How to Close Your TD Bank Account, let’s first discuss who TD Bank is. 

TD Bank is the seventh (7th) largest bank by deposits and the eighth (8th) largest bank in the U.S. by deposits. They have over 26,000 employees and they were founded in 1852. This is no newbie in the banking world!

There are over 1,300 locations in the U.S. and their headquarters are located in Cherry Hill, N.J. As of May 2020, Greg Braca was the C.E.O. and they service 16 states and Washington D.C., which include:

  • Connecticut
  • Delaware 
  • Florida
  • Maine 
  • Maryland
  • Massachusetts
  • New Hampshire
  • New Jersey
  • New York
  • North Carolina
  • Texas
  • Vermont
  • Virginia
  • South Carolina 

As you can see, TD Bank is a strong banking force in the eastern U.S. and through some of the south. 

Before You Close Your TD Bank Account

Before you close your TD Bank account, you should take a few steps to prepare for the switch. 

First, you want to get your bank account balance to zero. This is as easy as transferring all the remaining balance in your TD Bank account to another bank account. If you have a negative balance, you will need to make sure to clear it. 

Also, if you have any auto-debits or recurring payments that go through your TD Bank account, you will want to update this to switch the debits from another bank account. 

If your TD Bank account is the type of account with a passbook, you will have to return it to your bank. You should also get a copy of your previous bank account statements going back six (6) months in case there is any question about your transaction history. 

How To Close Your TD Bank Account (Four Methods)

Now that we’ve got your TD Bank account in order, it’s time to close your account. TD Bank offers its customers several options in closing their account. Each way works just as well as the other; it is all in what is most convenient for you.

The ways you close your TD Bank account include:

  • By mail
  • Online
  • Phone call
  • In-Person

How To Close Your Account By Mail

If you like to keep things old-school, TD Bank will allow you to close your account through snail mail. This method will take the most time, sometimes weeks. This is because you have to write the letter, send it, wait for it to be delivered, and then hope it gets to the addressee in a timely manner.

If you still want to use the mail to close your TD Bank account, you will need to follow these steps:

  • Write a letter to TD Bank at: P.O. Box 1377, Lewiston, Maine 04243
  • Include the subject as, “Request to Close Bank Account(s)”
  • Make sure to include your bank account number (s)
  • Inform the bank you wish to receive any remaining balance
  • Sign the letter and make sure to get it notarized–it isn’t valid unless it is!
  • Include your passbook in with the letter and send it out to the above address

How To Close Your Account Online

TD Bank allows consumers to close their bank accounts online with a secure email. To do this method, though, you have to have a zero balance remaining in that account. Again, that involves having your money transferred to a new account

Once there is a zero balance in your TD Bank account, you can then do the following:

  • Determine the necessary email address of the recipient–checking, savings, etc all have different email addresses
  • Write the subject of the email as, “Request to Close Bank Account(s)
  • Include your  name, account number, and reason for closing your account in the body of the letter–Do Not include any confidential information such as user name, password, card numbers, etc
  • Review the letter for accuracy and send

How To Close Your TD Bank Account By Calling via Phone

Closing your TD Bank account with a phone call is similar to closing it with an email: you need a zero balance before it can be completed. You also cannot have a negative balance when trying to close your account via phone–if you call and speak to a representative they will automatically reject your request.

If you have a zero balance in your TD Bank account, you can then do the following:

  • Call customer service at: 1-888-751-9000
  • Choose the option that will allow you to speak with a customer care executive
  • Tell them you want to close your account
  • Answer the verification questions accurately
  • Complete any guidelines they have for you

How To Close Your TD Bank Account In-Person

If you want to ensure that you’re successful in closing your TD Bank account, consider visiting your local TD Bank branch in person. If you have any questions or you need to resolve any balance issues, a teller will be able to help you.

To close your TD Bank account you will follow these steps:

  • Locate your nearest TD Bank branch
  • Ask for the proper person to help you close the account
  • Resolve any balance issues
  • Inform the teller how you would like to receive any remaining balance
  • Ensure that you receive a letter stating that the account is closed in the event there are any questions later

TD Bank Contact Information

If you need to contact TD Bank, you can use one of these methods:

Final Thoughts – Closing Your Account Is Simple

Closing your bank account doesn’t need to be a terrible experience, no matter what your reason for wanting to leave your bank. In fact, with just a little bit of preparation, and the steps on How to Close Your TD Bank Account in this guide, you can usually quickly and easily close that old account without too much hassle.

Article You Might Like: How To Buy Gold Coins From A Bank