All-inclusive banking plans have become very popular in recent years, and the TD all-inclusive banking plan is one of the best. It combines unlimited day-to-day banking transactions with other great perks.
With the TD all-inclusive account you get:
- 1. Unlimited chequing account transactions
- 2. Unlimited free Interac e-transfers
- 3. Credit card annual fee rebate (for one card)
- 4. Free small safety deposit box
- 5. No ATM Fees
- 6. No fees for cheques and bank drafts
We have been using the TD all-inclusive banking plan as our primary account for over two years, and have nothing but good things to say about it. There were a few times where our safety deposit box rebate got messed up, but TD fixed it right away.
TD All-Inclusive Banking Plan Fees
The monthly fee for getting all of these benefits is $30, but the account fee is waived if you keep a minimum balance of $5,000.
As long as you keep at least $5,000 in your TD all-inclusive chequing account account every single day of the month, then your account fee will get waived. If you accidentally dip below $5,000, TD will likely still give you the account fee rebate if it’s the first time that’s happened, but you’ll have to call them and ask for it.
$30 a month is a steep fee for the all-inclusive plan so you should only get it if you have $5,000 to put in the account to meet the minimum balance.
Is The TD All-Inclusive Banking Plan Worth It?
We think that it’s worth it.
Of course, an argument can be made that you might be able to make more money investing the $5,000 than what you get from the benefits of this account, but we’d rather take the guaranteed savings on the banking fees versus hoping to make some money with investments.
Let’s do some quick math. A small safety deposit box costs about $60, and the annual fee for one of the credit cards runs about $120. Right there you’re getting $180 in value which is about a 3.6% annual return on your $5,000. Add in the free cheques, e-transfers, no ATM fees and we feel comfortable saying that you’ll get at least 4% returns – a very reasonable return for guaranteed savings.
Besides, you should always keep an emergency cash fund for rainy days. If you’re parking cash in a bank account, then you might as well park it in an all-inclusive banking plan that gives you lots of perks. If you need to take the $5,000 from your account, then just convert your account to a free one and withdraw your money.
So let’s say you’re sold on the TD all-inclusive banking plan. Which credit card should you choose to get the annual fee rebate on?
We recommend getting the TD First Class Visa Infinite credit card. The TD First Class Visa offers an earn rate of up to 4.5% when booking/redeeming through Expedia, and has no blackout dates! You’ll be hard-pressed to find a travel rewards credit card that gives you better bang for your buck. Best of all, you don’t have to pay an annual fee when you have the TD all-inclusive plan.
The prices and perks for the TD All-Inclusive Banking Plan may change from time-to-time so make sure you check out their official website for the latest information: https://www.td.com/ca/en/personal-banking/products/bank-accounts/chequing-accounts/all-inclusive-banking-plan/