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Good morning. My daughter is 15 and will be working this summer for the 1st time. I just opened a savings custodial account w her. Can you please confirm if her paychecks could be deposited directly into her savings account? Also, will she be able to use the card to make purchases and withdraw money from the ATM like a debit card? If not, will I be getting a debit card?
Judy, Staten Island
May 11, 2017 11:46:50 AM
In reply to Judy, Staten Island
Good morning, Judy! It's wonderful to hear about your daughter's first job this summer. We wish her the best of luck!
Her paychecks can be direct deposited into the account. You'll just need to provide her employer with the account and routing numbers to set it up. To make it easier, we offer direct deposit forms at any of our Stores. Click on this link to find a store near you: https://go.td.com/1nq31dc. You can also download and print this form at home by clicking here: https://go.td.com/2bR9xDw. If you need your routing number, they are based on where the account was opened. Review our routing number list at https://go.td.com/2bjcv63 to find the region where you opened your account.
Visa debit card purchases can't be made from a savings account, but ATM withdrawals can be done. We recommend using a TD Bank ATM whenever possible to avoid fees. You can check out our personal fee schedule at https://go.td.com/2kFZ5mK. Visa purchases can only be made using a credit card, debit card, or pre-paid Visa. You can find information about these items by clicking the following links: https://go.td.com/1cFley8, https://go.td.com/1onoJaz, and https://go.td.com/1XHj0Dq.
With a custodial account, your daughter would be listed as the minor. Generally minors would not be issued their own ATM card. The card would only have your name on it as the custodian. You may be able to change the account titling to allow for your daughter to have her own ATM card as well. Please visit a local TD Bank Store with your daughter to be sure you can make this change. If you have not received your ATM card yet, please give us a call 24/7 at 888-751-9000 or visit a local TD Bank Store and we'd be glad to get one to you right away.
If you have any other questions about your new account, please don't hesitate to let us know. Again, we wish her all the best for her first job and a fun summer for you both!
Customer Service Team, Mount Laurel
May 11, 2017 11:47:33 AM