What are the benefits of using TD Bank? Well, there are plenty of benefits, and you are talking about one of the best banks out there. There are quite a few big names of course, like Chase, Wells Fargo, Bank of America, etc. Yet TD Ameritrade is a big one, especially for investors. What are the conveniences of using TD as your bank?
Well, one of the benefits has been in commercials here lately. Just the other day, I was noticing that TD now allows investors to trade 24 hours a day. Now, I know what you might be thinking. You’re only supposed to be able to buy securities during market hours, right? Well, there are the pre-market and the after-market hours that brokers sometimes make available to investors.
You usually have to pay a premium to get access to these hours. Yet these days things are a little different. So let’s say that TD gives you access to those hours for free. That still doesn’t cover the entire day. So what gives on the 24 hour investing? It’s not the crypto market here. We’re talking about regular stocks and bonds, not digital currencies that are bought and sold 24 hours a day.
The fact of the matter is that companies are competing with each other to provide investors better access to the market. They need your business. How they are able to advertise 24 hour market access is going to remain a bit of a mystery to consumers in ways, but let me further unpack this specific perk for you.
First, TD Bank allows this type of access for certain securities only. You can imagine that the securities available will be blue chip stocks that are much less volatile than other securities. That means there is less risk to TD for allowing this type of transaction after hours. They will credit you properly, but the fact of the matter is that they have to buy and sell a security when it is time to do so, not when you submit your order at 3 am.
That still doesn’t hinder you from doing exactly as they advertise. If you wake up in the middle of the night and want to get in on a big stock before the market opens, you’re able to do so. That is just one of the more recent benefits of using this bank. There are other benefits, however, and one of them includes the bank’s general hours of operation. You see, TD is known for keeping long hours.
The bank is also open on weekends. You of course have access to mobile banking, too. There are other perks, and one of them I noticed not too long ago was that they are good about their minimums for accounts, despite the fact that they are a big name bank. What do you think about using TD Ameritrade? They are a good bank in my book. While I don’t use them, I wouldn’t be averse to doing so.