Payment Processor Comparison
PaymentsPlus vs TD Merchant Services
Your bank isn't always your best option for payment processing. See how PaymentsPlus compares to TD Merchant Services on pricing, contracts, and transparency.
Average Savings Example
A business processing $25,000/month typically saves:
With TD
$725/mo
With PaymentsPlus
$460/mo
Monthly Savings
$265/mo
Annual Savings
$3,180/yr
Side-by-Side Comparison
See how we stack up on the features that matter most
| Feature | PaymentsPlus | TD |
|---|---|---|
| Pricing Model | Interchange + 0.20% | Tiered (2.5-3.5%) |
| Monthly Fee | $10/month | $25-60/month |
| Contract Length | Month-to-month | 3-5 year terms |
| Cancellation Fee | $0 | Up to $500+ |
| Equipment | Free placement | Lease ($50-100/month) |
| Banking Integration | Works with any bank | Requires TD business account |
| Funding Speed | Next-day | 1-2 business days |
| PCI Compliance | Included | $20-30/month extra |
| Business Banking Bundle | Processing only | Banking + processing bundle |
| Canadian Support | Yes - Phone & Email | Yes - In-branch & phone |
Common TD Merchant Services Complaints
Why businesses are looking for TD alternatives
TD typically locks businesses into 3-5 year processing contracts with steep early termination fees, often $500 or more to cancel.
Terminal leases through TD can cost $50-100/month. Over a 5-year contract, you could pay $3,000-6,000 for equipment worth a few hundred dollars.
TD uses tiered pricing that bundles transactions into "qualified," "mid-qualified," and "non-qualified" tiers. Most transactions fall into higher-cost tiers, making true costs hard to determine.
TD Merchant Services typically requires you to hold a TD business bank account. This limits your banking flexibility and ties your processing to your banking relationship.
Why Canadian Businesses Are Switching to PaymentsPlus
- Transparent interchange-plus pricing - no tiered confusion
- No long-term contracts - leave anytime with zero penalties
- Free equipment placement - no $100/month terminal leases
- Works with any bank - no TD account required
- Lower overall costs - save $265+/month on average
- We help with TD cancellation - smooth transition
Get a free quote showing exactly how much you'll save compared to your current TD rates. We'll even help you understand your TD contract and cancellation options.
Get Your Free QuoteWhen TD Might Be Better
TD might be better if you want everything under one banking roof and value the relationship with your business banker. If your TD branch manager has negotiated truly competitive rates for your business, it may be worth staying. However, bundling doesn't mean better rates — always compare.
Frequently Asked Questions
Do I need to switch banks to leave TD Merchant Services?
No! PaymentsPlus works with any Canadian bank. You can keep your TD business account and simply switch your payment processing to PaymentsPlus. Your deposits will still go to your TD account.
How do I cancel my TD Merchant Services contract?
TD contracts typically have early termination fees. We'll review your contract terms and calculate whether the savings from switching outweigh any cancellation fees — in most cases, you'll break even within 2-3 months.
Is TD's tiered pricing really more expensive?
Yes. TD's "qualified" rate may look competitive, but most transactions fall into "mid-qualified" or "non-qualified" tiers at much higher rates. With interchange-plus, you see the actual cost of every transaction.
Will my TD banker be upset if I switch processors?
Your banking relationship and your processing are separate services. Switching processors has no impact on your TD business accounts, credit lines, or banking services.
How long does it take to switch from TD?
Most businesses are processing with PaymentsPlus within 3-5 business days. We handle the setup and equipment placement, and can run parallel to TD during the transition for zero downtime.
Stop Overpaying with TD Merchant Services
Your bank doesn't always offer the best processing rates. See exactly how much you could save with transparent interchange-plus pricing.