Alternative to TD Student Checking

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Alternative to TD Student Checking

Postby Gemini » Sat Nov 17, 2012 12:45 pm

I have had this account for a long time and only recently have I begun using it to store my emergency fund. I like the fact that there are plenty of physical locations close to home and I can walk in to deposit or withdraw funds. Recently, I got a letter in the mail stating that this account will now be converted to TD Simple Checking account, which has a monthly fee. I am annoyed and wanted to know what other banks I should consider. One thing that TD lacks is the check deposit via image feature and it would be an additional benefit if my future bank has one.
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Re: Alternative to TD Student Checking

Postby livesoft » Sat Nov 17, 2012 12:49 pm

Maybe TD has a non-student checking account that has no fees?
Many places have no-fee checking with a direct deposit of some kind. Do you work part-time? Can your paycheck be direct deposited?
It's all about short-term opportunistic rebalancing due to a short-term change in one's asset allocation, uh, I mean opportunistic rebalancing, uh I mean rebalancing, uh I mean market timing.
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Re: Alternative to TD Student Checking

Postby Gemini » Sat Nov 17, 2012 12:51 pm

I work full time and my check is already deposited directly into my USAA account. I use the TD bank to take chunks out of USAA via direct deposit to build my e-fund.
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Re: Alternative to TD Student Checking

Postby livesoft » Sat Nov 17, 2012 12:52 pm

Well, I was going to recommend USAA, but ....

What other banks do you use? Maybe one of them will be better for you?

One can usually have a paycheck split into a few direct-deposit locations if needed. That is, direct-deposit of the same paycheck does not have to go all to only one place.

I use WellsFargo because they are totally fee-free and give me lots of perks, but I understand that they may not work for everyone. I used to use USAA, but they closed my account without telling me.
It's all about short-term opportunistic rebalancing due to a short-term change in one's asset allocation, uh, I mean opportunistic rebalancing, uh I mean rebalancing, uh I mean market timing.
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Re: Alternative to TD Student Checking

Postby master36 » Sat Nov 17, 2012 2:07 pm

How about an online bank? They typically offer a higher interest rate, and most reimburse ATM fees.

I currently use HSBC, and I have it scheduled to automatically withdraw money from my checking account each month.
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Re: Alternative to TD Student Checking

Postby Gemini » Sun Nov 18, 2012 1:36 am

I have a couple online banks already. I would prefer somewhere I can just walk into to make deposits or take out large sums if needed.
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Re: Alternative to TD Student Checking

Postby thebogledude » Sun Nov 18, 2012 1:47 am

Gemini wrote:I have a couple online banks already. I would prefer somewhere I can just walk into to make deposits or take out large sums if needed.


Only you can know what is available within walking distance. Chances are if there's a TD Bank, there's going to be another bank or credit union and you can do some research on their fee structure.
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Re: Alternative to TD Student Checking

Postby stan1 » Sun Nov 18, 2012 11:28 am

Gemini wrote:I have a couple online banks already. I would prefer somewhere I can just walk into to make deposits or take out large sums if needed.


You might want to consider a local credit union since credit unions don't discourage unprofitable customers like you (small balance, teller usage). Next you'll probably tell us you are already using one, since that seems to be the way this thread is going? :wink:
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Re: Alternative to TD Student Checking

Postby grabiner » Sun Nov 18, 2012 11:24 pm

Gemini wrote:I have had this account for a long time and only recently have I begun using it to store my emergency fund. I like the fact that there are plenty of physical locations close to home and I can walk in to deposit or withdraw funds. Recently, I got a letter in the mail stating that this account will now be converted to TD Simple Checking account, which has a monthly fee. I am annoyed and wanted to know what other banks I should consider. One thing that TD lacks is the check deposit via image feature and it would be an additional benefit if my future bank has one.


You can also check the bank's other options, which may depend on where you live. I have a TD Convenience Checking account, which has no fee with a minimum balance of $100. It doesn't pay interest, but I don't keep enough in this account for that to matter even if interest rates go back up. (I keep my interest-bearing cash in other accounts.)
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Re: Alternative to TD Student Checking

Postby Gemini » Sun Dec 30, 2012 12:12 pm

Thanks for the replies. I called and converted to TD convenience checking. I am using this to park an e-fund and so far have around 20K. Only downside it that it is 0%....
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