With all the recent changes to checking accounts, navigating the sea of fine print to find the right one for you can be tedious and difficult. That is why TD Bank has begun posting a series of Youtube videos in an effort to further educate viewers in their search for the right checking account.
UPDATE: Videos will be added to the bottom of this article as they come out.
As Youtube diversifies, banks and companies take advantage of its power as a viable space to spread information. TD Bank’s video neutrally discusses four essential factors that you should look for when searching for a bank account or even re-evaluating your current bank account.
1. Minimum balances
The first thing you have to look out for is how much your minimum balance needs to be to waive the monthly fees that usually come along with maintaining a checking account. Ideally, you would want an account that requires the highest minimum balance that you can afford, so that you attain the best rewards. If you can maintain a minimum balance of $2000, you probably should not open an account that only requires $100.
2. Customer service
If you need constant access to branch and staff, look for a bank that has extended hours and is open on weekends. This can be especially helpful for people who are shopping for loans or just need help answering questions.
3. Online checking accounts
Storing your money in an online only checking account may seem cheaper, but some charge hefty fees for printed statements or speaking face-to-face with a teller. Instead, maybe look for an online account that charges a flat fee for maintenance and includes bank branches and services. Or you can check out one of the many online banks out there; here is a comparison of some popular ones.
4. Free is not always free
Banks will charge you whatever they can including fees for not maintaining a high enough balance or not fulfilling a minimum number of monthly direct deposits or transactions with your debit card. Look for these hidden fees and others such as for viewing check images and checking your balance.
Check out this article: Choosing The Right Checking Account Pays Off
TD Bank does a good job remaining neutral in this Youtube video by not imposing their own checking accounts onto consumers. This video is tasteful and educational without being presumptuous or overbearing. As mentioned before, Youtube serves as a large community for people and companies to disseminate their views, and with this first video and another one to follow at the end of May, TD Bank will attract viewers because the videos do not simply tout TD Bank as the best. The next video will, hopefully, follow suit and Youtubers can rely on TD Bank’s channel for valuable, watchable and accessible information.