New York Banking Rates

Free Checking Still Exists in New York with TD Bank

td bank checkingWhether you’re dead smack in the middle of Manhattan or off in the suburbs, everything in New York is pricey from the homes to the restaurants. And if you’re like most people, you probably seek ways to save a buck. There are plenty of subtle ways to save money, and if you’re shopping for a new bank, you might start with financial institutions that offer free New York checking accounts.

New regulations in the banking industry capped how much banks can charge customers for services, such as overdraft protection and debit card transactions, and according Eben Jose, an industry research analyst, banks had to compensate for this loss revenue in other ways — hence, the resurrection of checking account fees.

These days, the words “free” and “checking” are rarely used in the same sentence, but there’s good news for New York residents. While big banks like Bank of America and Wells Fargo have bid adieu to free checking, this remains a feature at smaller banks, such as TD Bank New York.

Get Free Checking New York

With checking account fees ranging from $8 to $15 a month, you might spend up to $180 a year to simply have an account. You want free and TD Bank understands your needs. Located throughout New York, TD Bank provides a variety of products and services. The bank has six different checking accounts, including five accounts with the option of free checking.

Check out the bank’s products and decide whether TB Bank checking is right for you.

1. TD Convenience

Perfect for everyday banking, open this account and you’ll receive a discount on your first order of checks. This checking account doesn’t earn interest, but if you maintain a minimum balance of $100, the bank waives the $15 monthly maintenance fee.

2. TD 60 Plus

If you’re over the age of 60 and looking for a checking account that earns interest, the TD 60 Plus might be the right match for you. You’ll receive an order of free standard checks when you open an account, plus discounts on select check styles. Open a TD 60 Plus account and you’re also eligible for free money orders. Maintain a minimum balance of $250 and the bank waives the $10.00 monthly maintenance fee.

3. TD Student

Are you a student with little or no income? Do you need a break on bank account fees? A TD Bank checking account might be the answer. A student checking account with TD Bank has no monthly maintenance fees and no minimum daily balance requirement. With no initial deposit requirement you can open an account with as little as $1. Fees are waived for overdraft protection and TB Bank will discount your first full order of checks.

To be eligible for a student TD Bank checking account, you must be under the age of 24 and provide the bank with proof of your student status.

4. TD Premier

This account is an option if you maintain a high checking account balance. Earn interest on money in your account, and if you maintain a minimum balance of $2,500, the bank waives the $25 monthly maintenance fee. Other features include a free order of standard checks, as well as free money orders, wire transfers, check images, bank checks and stop payment requests.

5. TD Relationship

Open a TD Relationship checking account and the bank will waive the $25 monthly maintenance fee if your combined deposits and loan balances (excluding mortgage and credit card balances) exceed $20,000. This account also qualifies you for a free savings account and an additional free checking account. Additionally, you’ll earn interest on your deposit, receive free overdraft protection, standard checks, money orders, stop payment requests, incoming transfers, bank checks and check images.

Other Features of TD Bank Checking

Whether you open a simple checking account or an account with multiple benefits, TD Bank New York offers a host of innovative services to remain competitive and enhance your banking experience.

Free online banking lets you access statements online, pay your bills online, schedule automated payments, transfer funds between accounts and obtain real-time account information. Download the bank’s app to your PC or mobile device and check your account anytime, anywhere. You can also set up free direct deposit and have your paychecks deposited directly into your checking account. And with 24/7 customer support, you can contact the bank anytime to ask questions or report fraud.