TD Bank Student Checking account

Do you want to learn about all the features of the student checking account at TD Bank? At Responsible Economy, we present you with all the details of the student account at TD Bank and compare it to the best student checking accounts you can open in the United States. Let’s get started!

Features

In this section, we show you all the features. We want to inform you that TD Bank does not have a specific offer for students, and at Responsible Economy, we have selected the TD Convenience Checking as the top choice for student accounts offered by TD Bank.

Fees

The TD Bank Student Checking account is fee-free if you are a student and between 17 and 23 years old. You also won’t incur fees if you maintain a daily balance of $100.

In the event you do not meet any of these requirements, there is a monthly fee of $15.

Interest rate

This account does not offer any type of interest for the money you have saved. If you want an account that generates interest, take a look at the best savings accounts.

Wire transfers

Here is a list outlining each type of transfer and its associated fee:

  • $15.00 Incoming wire (domestic and international).
  • $30.00 Outgoing wire (domestic).
  • $50.00 Outgoing wire (international), plus exchange rate, taxes and correspondent fee.

Minimum deposit

There is no need to make any minimum deposit to open the account.

ATMs

You can only withdraw money without fees at TD Bank ATMs.

Bonus

If you set up a direct deposit of $500 or more within the first 60 days of opening the account, you will receive a $200 bonus.

Overdraft service

TD Bank offers Overdraft service with a fee of $35 per ITEM, with a maximum of 3 per day.

Summary table

We have created a summary table with all the features we analyzed in the previous section:

FeatureDetails
Fees$0 up to 23 years old
Interest Rate0% APY
Wire TransfersDomestic – Incoming $15. Domestic – Outgoing $30. International – Outgoing $50.
Minimum Deposit$0
ATMs$0 TD Bank
Bonus$200
Overdraft ServiceYes
TD Bank Student Checking account

Comparison best student checking accounts

We have conducted a comparison of the TD Bank Student Checking accounts with the best student checking accounts you can open in the United States:

Logo Chase
  • It is very easy to avoid monthly commissions.
  • Welcome bonus of 100 dollars fulfilling conditions.
  • More than 16,000 ATMs in the United States.
  • $25 minimum deposit.
  • Very low interest rates.
Capital ONE MONEY Teen checking
  • It is very easy to avoid monthly commissions.
  • $0 welcome bonus.
  • More than 70,000 ATMs in the United States.
  • $0 minimum deposit.
  • Very low interest rates.
Truist Bank logo
  • $0 fees up to 23 years old.
  • $0 welcome bonus
  • Two withdrawals free
  • $0 minimum deposit
  • Very low interest rates
BMO logo
  • $0 Annual fees
  • $0 welcome bonus
  • ATMs free: BMO and Allpoints
  • $0 minimum deposit
  • Very low interest rates
Logo U.S. Bank
  • Easy to avoid monthly commissions
  • $0 welcome bonus
  • ATMs free: U.S. Bank
  • $0 minimum deposit
  • Very low interest rates
TD Bank logo
  • Easy to avoid monthly commissions
  • $0 welcome bonus
  • ATMs free: TD Bank
  • $0 minimum deposit
  • Very low interest rates
Capital ONE MONEY Teen checking
  • No monthly fees
  • $0 welcome bonus
  • More than 70,000 ATMs in the United States
  • $0 minimum deposit
  • High interest rates.
Logo PNC Bank
  • It is very easy to avoid monthly commissions
  • $0 welcome bonus
  • fulfilling conditions
  • More than 60,000 ATMs in the United States
  • $25 minimum deposit ($0 online)
  • Very low interest rates
Bank of America logo
  • It is very easy to avoid monthly commissions
  • No welcome bonus
  • More than 16,000 ATMs in the United States
  • $100 minimum deposit
  • No welcome bonus
  • High interest rates if you have a lot of savings
Wells Fargo logo
  • It is very easy to avoid monthly commissions
  • Nearly 12,000 ATMs
  • $25 minimum deposit
  • Welcome bonus of 300 dollars fulfilling conditions
  • High interest rates on CDs

Requirements

These are the requirements to open the student account at TD Bank:

  • Being a student.
  • Reside in the United States.
  • Have a Social Security number.
  • Have an American phone number.

Pros and cons

Now that we have reviewed the features and explored the best student checking accounts, we have created a table outlining all the advantages and disadvantages:

ProsCons
$0 fees up to 23 years old0% APY
$200 welcome bonusLimited number of ATMs for fee-free withdrawals.
$0 initial deposit
TD Bank checking account for student pros and cons

Conclusion and opinions

After conducting our analysis, we conclude that the TD Bank Student Checking account may not be competitive due to the following reasons: it is fee-free only until the age of 23, fee-free ATM withdrawals are limited to TD Bank ATMs, it does not offer any interest, and bank transfers come with high fees. On the other hand, if you are a new student, you won’t have fees, you can use the Zelle service, and there’s a $200 bonus if you set up a direct deposit.

Truist Bank interest information

We have created a table with relevant information about TD Bank:

InformationDescription
Websitehttps://www.td.com/us/
Twitterhttps://twitter.com/TDBank_US
Instagramhttps://www.instagram.com/TDBank_US/
Linkedinhttps://www.linkedin.com/company/td/
Interest information about TD Bank

Frequent questions

If you still have any questions, here we provide answers to all your inquiries.

To conclude, here you have more related content about student checking accounts:

Updated the day 1 September, 2023 by Alfredo Barandiarán

¿De cuánta utilidad te ha parecido este contenido?

Haz click en una estrella para votar

Promedio de puntuación 0 / 5. Número de votos 0

Se el primero en dejar un comentario!

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.