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Does the custodian on a student account have to be a parent or guardian? Can it be a grandparent or another adult?
July 21, 2015 10:04:45 AM
In reply to Wendy, Laconia
Great question, Wendy.
When opening a custodian account, it's not a requirement to be a parent or guardian of the minor. The only requirement is that the custodian must be over 18 years of age. If you have any questions about this account, you're welcome to give us a call 24/7 at 888-751-9000 or visit a nearby TD location. For a complete listing of our Stores and hours please view: http://bit.ly/TDStores.
We hope this helps, Wendy and have a wonderful day.
Colleen B, Mount Laurel
July 21, 2015 10:05:30 AM
In reply to Colleen, Mount Laurel
What type of accounts can be opened for the minor to utilize (with a custodian).
Can Direct Deposits be made into the account?
Can the minor have a debit card on the account?
July 21, 2015 12:55:53 PM
Welcome back Wendy, we are happy to guide you in the right direction today.
It sounds like you're referring to a Young Savers account with TD Bank. Please be advised, for a Young Saver account, only the Custodian on the account has access to the funds. Also, here's a link our Personal Deposit Account Agreement for you to view for more specific information about our account terms: http://bit.ly/1kb17UQ. You may locate the information that answers your question in great details on page 17.
If the child is under the age of 18 and you would like for him or her to have access to the funds without the Custodian's presence, you may wish to open a joint bank account instead of a custodial account. At TD Bank, we offer a wide array of accounts and we invite you to visit the below links for more information. For checking account information please take a look here: http://bit.ly/1dbAcWh and also here for a personalized recommendation with our Checking Selector Tool: http://bit.ly/KmmHe7. For more information on our savings accounts you may click here: http://bit.ly/1o4wfc4 and also here for a recommendation with our Savings Selector Tool: http://bit.ly/1hXi2wF.
We are happy to inform you that any account you select, you may receive Direct Deposit.
Please keep in mind that the child will need to provide a valid form of identification if you wish to open a new account; acceptable forms of identification for minors include: Driver's License, State ID, Passport, US Birth Certificate, School ID (preferably with a picture), or Social Security Card. Also, please keep in mind that an account with a minor can only be opened at a TD Bank location – so please check out: http://bit.ly/TDStores for a TD Store near you.
We hope this information helps Wendy. Take care!
Alara B, Mount Laurel
July 21, 2015 12:57:30 PM
What is the best type of account for a student to get (checking/savings) where they can have a debit card as well as no monthly fees?
July 21, 2015 03:36:09 PM
Welcome to TD Helps and thank you for sending us your question, Wendy.
We are happy to say that we offer an account designed specifically for Students! This account type is designated for full-time students under the age of 24 years old. To qualify, you must have proof of enrollment (Student ID or a Tuition Payment Receipt). For more information on the Student Checking account, please visit: http://bit.ly/S8Vejp. Please keep in mind, after having the account for 5 years or after turning 24 years old the TD Student Checking account will automatically become a Convenience Checking account or Simple Checking account.
If you do not meet the qualifications for the Student Checking, no worries! Here at TD Bank, we offer different types of Checking Accounts that may fit your banking needs. For a list of the different types of account TD Bank offers, please visit: http://bit.ly/1aDaRqd or check out our Checking Selector Tool: http://bit.ly/1vW1xnU for a personalized recommendation.
In addition, we also offer Savings Account for all of your saving needs! We recommend taking a look at http://bit.ly/1hzzhPT for more detailed information on each particular Savings Account available at TD Bank. You may find it helpful to check out our customized Savings Selector tool, found here: http://bit.ly/1sxY9Rd. Please feel free to click on Rates and Fees for the current interest rates. If you are inquiring about a Young Saver's account, remember that after turning 18 years old, there is an alteration that takes place within the account type. Check out http://bit.ly/1cDNIR3 to learn more about the Young Saver's account. Please note; interest is compounded and paid monthly at this time.
Once you've decided which account is best for you, you can open the account via the internet by clicking on the "Open Account" box which will be listed at the bottom of each account details. To get started, you'll need the following: Your Social Security number and ID (driver's license, State ID, or Passport). To make a first deposit online, you may use a debit card linked to an account from another financial institution, a credit card (Visa or MasterCard) or you can stop by your local TD Store to make a deposit.
You may also visit us at any TD Store to open the account. Please visit: http://bit.ly/TDStores to find a TD Bank Store near you.
If you prefer to open it over the phone, please call Customer Service at 1-888-751-9000, available 24/7, and we will be happy to help answer any additional questions you may have and also help with the account opening.
If you'd like to set up a Young Saver account, please visit your local TD Bank Store location, during lobby hours for assistance.
If we can assist you again, please feel free to write to us anytime! We hope this helps and enjoy your day.
Customer Service Team, Mount Laurel
July 21, 2015 03:37:50 PM