Toronto-Dominion Bank

Universal bank · Toronto, Canada

Toronto-Dominion Bank is Canada's second-largest bank and a G-SIB since 2019, serving over 28 million clients with earnings split about half Canada and half United States. Its US arm, TD Bank, N.A., serves more than 10 million clients but has operated under a 434 billion dollar asset cap since October 2024, when it pleaded guilty to anti-money-laundering failures and paid penalties of more than 3 billion dollars. Canadian business accounts run from 6 dollars a month (Business Digital) to 125 dollars (Business Unlimited), but accounts cannot be opened online and require a phone specialist or branch. TD Innovation Partners banks startups, TD Securities provides trade and transaction banking, and the bank completed a real-value tokenised USD payment through Project Agora in August 2026.

Legal name: The Toronto-Dominion Bank
Regulated by: OSFI, FCAC, OCC (TD Bank, N.A. and TD Bank USA, N.A.), Federal Reserve, FinCEN, PRA/FCA (London branch and TD Bank (Europe) Limited), Central Bank of Ireland (TD Global Finance)
Licence confirmed: yes, on a regulator's own list
Established: 1955
Website: www.td.com

Scores, 0 to 10

9.5Canada

Big Six bank with full Interac and EFT rails and business accounts from 6 dollars a month, but no online business account opening. · source

7.5Financial strength & stability

G-SIB with a 14.3% CET1 ratio at 31 July 2026 and an AA+ Fitch rating, but the US asset cap from the October 2024 guilty plea has not been lifted and AML remediation runs into 2027. · source

7.0United States

TD Bank, N.A. serves over 10 million US clients with business accounts, but the OCC order that pinned its US assets to the 434 billion dollars reported for 30 September 2024 was still being worked off in the third quarter of fiscal 2026, with the required lookback due to end only in calendar 2027. · source

7.0Business cards (Visa, Mastercard)

TD business credit cards are all Visa, with up to four additional cardholders and a Card Management Tool to move limits between cards. · source

6.5Startups & VC-backed companies

TD Innovation Partners provides banking and financing for technology companies at all stages since June 2024. · source

6.5Trade, manufacturing & import-export

TD Bank Global Trade Finance offers import and export letters of credit, standby LCs and supply-chain finance in the US and Canada. · source

6.0Cross-border payments, FX and multi-currency accounts

Offers a US Dollar Business Basic Account for 7 US dollars a month and SWIFT wires, but no multi-currency account and no published FX margin. TD Securities Global Transaction Banking covers trade, working capital and FI services, and TD Embedded Banking connects ERP systems to TD Bank in the US. · source

6.0Online businesses: e-commerce and SaaS

TD Merchant Solutions in Canada is run with Fiserv under a strategic relationship finalised in July 2025, giving merchants acquiring from their bank. TD offers a USD business account at 7 USD a month with 5 free transactions, but no accounting or API integrations are listed. · source

5.5Lowest fees

Business Digital is 6 dollars a month with unlimited electronic transactions; Business Essential costs 35 dollars unless a 45,000 dollar balance is kept. · source

4.5Fintech companies that need a partner bank

Works with FISPAN for embedded commercial banking and Fiserv for merchant services, but has no BaaS or safeguarding offer for payment firms. · source

4.5Foreign-owned & non-resident companies

TD opens the U.S. Dollar Business Basic Account by remote phone appointment, but the documents required are Canadian business registrations and property records. · source

4.5High-risk verticals (iGaming, cannabis, adult, forex)

TD told the Globe and Mail it assesses cannabis industry applications case by case and served at least nine licensed producers. · source

4.5On-ramp: buy crypto with fiat

A June 2026 guide reports TD does not block US ACH to regulated exchanges but adds verification on first transfers since its October 2024 Bank Secrecy Act guilty plea, caps Canadian Interac e-Transfers at CAD 3,000 a day, and has blocked crypto on TD credit cards since 2018; the OCC also named TD in December 2025 among nine banks that restricted digital asset clients. · source

4.5Off-ramp: crypto to fiat in a business account

Evidence is personal-account only and TD publishes no process for business crypto proceeds; the OCC's December 2025 review found TD required escalated reviews or restricted access for clients tied to digital assets between 2020 and 2025. · source

4.0Best interest on business balances

A Business Savings Account exists but is opened by appointment and the rate is not shown on the comparison page. · source

4.0Fast digital onboarding

TD states it currently has no option to open a business account online; applications go through a phone specialist or a branch. · source

4.0Customer satisfaction

J.D. Power's 2025 Canada retail banking study placed TD fourth of the Big 5, and the FCAC fined TD 5.5 million dollars in September 2025 over wrong cost-of-borrowing disclosure on 160,658 loan accounts. · source

3.5United Kingdom

The Toronto-Dominion Bank London Branch is PRA-authorised and FCA-regulated for wholesale and capital markets business only. · source

3.5Bitcoin

TD Direct Investing sells TSX-listed spot bitcoin ETFs in brokerage and registered accounts, which is price exposure without coins or transfers, checked September 2026. · source

3.5Ethereum

TD Direct Investing and TD Easy Trade carry TSX-listed spot ether ETFs, price exposure only with no ether custody or withdrawals, per its crypto ETF page and a June 2026 guide. · source

3.5Stablecoins (USDC, USDT and others)

Stablecorp picked TD in July 2026 as primary custodian of the fiat reserves behind the QCAD stablecoin (rolling out in Q3 and Q4 2026) and TD joined the 21-bank USD stablecoin venture in September 2026, but business clients cannot hold or pay out stablecoins at TD today. · source

3.0Europe (EU, EEA, Switzerland)

TD Global Finance Unlimited Company in Dublin has been authorised by the Central Bank of Ireland for investment services since November 2007; no EU business accounts. · source

3.0Crypto-friendly bank

No in-house crypto trading, credit cards blocked from crypto purchases since 2018, and US customers face heightened monitoring after the 2024 AML settlement; transfers to regulated exchanges are allowed. · source

1.0Crypto wallet and custody for a business

Neither TD Bank in the US nor TD Canada Trust offers crypto trading or custody for any client, per a June 2026 hands-on guide; TD's July 2026 custody deal for the QCAD stablecoin covers fiat reserves, not client crypto. · source

1.0Accept crypto payments

No crypto or stablecoin acceptance for merchants was found; TD's published digital money work in 2026 is a tokenized deposit test in Project Agora, QCAD reserve custody and the bank stablecoin venture, none of which is a checkout product. · source

Sources

Built on public information and the BankStore team's own aggregated experience; no confidential client or partner data. Bank Index and BankStore are not banks. This is information, not financial advice.