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November 21, 2014 12:29:47 PM
In reply to Lynn, Northwood
It is great to have you here on TD Helps, Lynn.
In order to open an account with TD Bank, the individual must be at least 18 years of age. Please note; if your son is under the age of 18, we will require a joint account holder or a custodian on the account as well. We do offer some products which are designed specifically for minors. You may click the following link to view and compare Savings account products http://bit.ly/1g5vhXQ, or if you prefer, we also have a Savings Selector Tool http://bit.ly/1vW1DvM which can help you choose the best Savings account for your needs.
To set up a joint account with a minor, both parties are required to visit a TD Bank Store and be present for the account opening process. To find a TD Store location near you, please visit, http://bit.ly/TDStores.
You also asked if your son can cash his paychecks, we'll be glad to answer this question as well.
If your son's paycheck is drawn on TD Bank and the check is less than $300.00 you may deposit the check into your TD Bank account (if you are currently banking with TD Bank). To do this, you would first need to endorse the check as if it was written to you. Then, beneath your signature you would need to write, ‘Parent of Minor.’ The funds would then clear your account as if you made a check deposit for yourself. Please note; you can still cash this check right after depositing this check if you have sufficient funds in your account to cover the amount of this check.
If this check is over $300.00, we would also recommend reviewing your options with your local TD Bank Store, prior to visiting the Store. You may also feel free to contact us directly 24/7 at 888-751-9000 for any additional questions you may have.
We hope you find our answer helpful and please don't hesitate to return to TD Helps if you have any further questions.
LiShu R, mount laurel
November 21, 2014 12:31:51 PM