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I have opened up a checking account and simple savings account on one debit card.
I was told that there has to be a minimum balance of $300 in the savings account in order to be absolved from fees.
I was told that if I set up a recurring transfer of $25 a month then I do not have to worry about any minimum daily/monthly balance in the savings account and will be absolved from fees.
In other words I can use the $300 in the savings account as I like.
Is this correct?
The $25 a month comes out from my checking account?
Saif, New York
January 24, 2016 11:48:19 AM
In reply to Saif, New York
Thank you for choosing TD Bank for your banking needs, Saif.
Here at TD Bank, there is no set amount that you need to open an account nor you must keep in your account; however, some accounts do require a daily minimum balance to avoid a monthly maintenance fee. As you're asking for TD Simple Savings account specifically, please feel free to visit here: http://bit.ly/1ph1XF2 for all the information you like to know including the minimum daily balance requirement and maintenance fees.
If you have any additional questions, please feel free to reach out to our Banking Specialists 24/7 at 888-751-9000. You may also stop by your local TD Bank Store location for assistance. To find out the nearest TD Store near you, please visit, http://bit.ly/TDStores.
Thank you again for banking with TD, Saif. We hope you have a great rest of your weekend!
LiShu R, Mount Laurel
January 24, 2016 11:52:22 AM