topic Re: TD Early Pay in Personal Finance

TD Early Pay

Horseshoez — Tue, 26 Mar 2024 18:39:41 GMT

Hey gang, I just got an E-Mail from TDBank regarding my direct deposits; starting "in late March" they will be making many direct deposits available up to 2 days early. Given my checking account at TDBank is my primary direct deposit account, this is pretty cool.

https://stories.td.com/us/en/article/td-bank-unveils-td-complete-checking-and-td-early-pay-simplifying-customers-banking-experiences

Re: TD Early Pay

FicoMike0 — Tue, 26 Mar 2024 23:06:49 GMT

I think they're late to the party, but better late than never. I do have some knowledge here. In my quest for subs, I've opened eight checking accounts in the last nine months.

Re: TD Early Pay

Horseshoez — Wed, 27 Mar 2024 01:04:50 GMT

I have neither time nor energy to chase subs, if I happen to get one for an account I need/want/desire, great, otherwise it is a hard pass.

As for being "late to the party", I am well aware many credit unions offer early access to direct deposit funds, but beyond TDBank, I don't believe there is a single bank with any local branches here in New Hampshire which offer that with their checking accounts.

Re: TD Early Pay

FicoMike0 — Wed, 27 Mar 2024 23:19:33 GMT

I m retired, subs is my latest hobby. Since you brought it up I checked my checking account spreadsheet. Had to add a new column. I only include checking, not banks i only have credit cards or savings.

bank Early pay sub branch near

Amex no. $250. None
Associated no $600. No
BMO no. $400. No
Cap One yes $350. No
Citizens yes $400. No
Fidelity cma no $100. Office not bank
5th 3rd yes. $350. Yes
Huntington yes na. Yes

US bank no. $500. Yes

Wells Fargo yes $325. No
Wes Banco yes. $400. Yes

Re: TD Early Pay

FicoMike0 — Wed, 27 Mar 2024 23:40:42 GMT

I hope that's readable. I actually wanted the fidelity and amex accounts, lol. Maybe it's a small bank thing. The only yes banks on my list that are larger than td are usb and wf.

You think this hobby is silly, a few years ago I tried to prove the riemann hypothesis. Not well known, it's been around since mid 19th century. Since 2000, there's a $million prize for proof. I do understand the question, but no luck on solution.

I did end up discovering a new number, which I published. No prize, no one even cares, including me. It starts with 0.59... I did 100 digits. Actually, I programmed my laptop to compute them. It didn't want to, either, lol. Thought I was going to let the smoke out.

Re: TD Early Pay

Horseshoez — Thu, 28 Mar 2024 02:21:33 GMT

@FicoMike0 wrote:
I hope that's readable. I actually wanted the fidelity and amex accounts, lol. Maybe it's a small bank thing. The only yes banks on my list that are larger than td are usb and wf.
You think this hobby is silly, a few years ago I tried to prove the riemann hypothesis. Not well known, it's been around since mid 19th century. Since 2000, there's a $million prize for proof. I do understand the question, but no luck on solution.
I did end up discovering a new number, which I published. No prize, no one even cares, including me. It starts with 0.59... I did 100 digits. Actually, I programmed my laptop to compute them. It didn't want to, either, lol. Thought I was going to let the smoke out.

I've never worked on the Riemann hypothesis, however, I've taken a shot at the twin-prime conjecture off and on since, geez, the early 1980s; so far, no success.

Re: TD Early Pay

FicoMike0 — Thu, 28 Mar 2024 03:03:37 GMT

I don't think there's a prize for twin prime, but it would be nice to prove. I think the inverse series converges, so could be finite.

I went off on the Dottie number, the unique real solution to cosine(x) -x = 0, x in radians. It turns out it can be proven that the number is transcendental. Proving anything td is at least good for bragging rights.

Re: TD Early Pay

The_Banker — Thu, 28 Mar 2024 08:52:15 GMT

Citizens Bank offers Early Pay and has branches in NH.

Re: TD Early Pay

Horseshoez — Thu, 28 Mar 2024 14:22:02 GMT

@The_Banker wrote:
Citizens Bank offers Early Pay and has branches in NH.

Thanks, I looked over Citizens offerings and while some of them are interesting; their Citizens Quest Checking appears to be a virtual clone of the TDBank Beyond Checking account I've been using for four years now. Nice to know there is an option to TD if my relationship with them sours, but I find that highly unlikely, they've been very good to me.

Re: TD Early Pay

Horseshoez — Thu, 28 Mar 2024 14:24:47 GMT

I just checked, tomorrow's deposit showed up today.

Re: TD Early Pay

SouthJamaica — Thu, 28 Mar 2024 19:49:28 GMT

@Horseshoez wrote:
@The_Banker wrote:
Citizens Bank offers Early Pay and has branches in NH.
Thanks, I looked over Citizens offerings and while some of them are interesting; their Citizens Quest Checking appears to be a virtual clone of the TDBank Beyond Checking account I've been using for four years now. Nice to know there is an option to TD if my relationship with them sours, but I find that highly unlikely, they've been very good to me.

It's funny how we all have different experiences with different institutions. I've noted on multiple occasions your satisfaction with TD Bank. I on the other hand always found them to be crummy.

Re: TD Early Pay

Horseshoez — Thu, 28 Mar 2024 20:22:21 GMT

@SouthJamaica wrote:
@Horseshoez wrote:
@The_Banker wrote:
Citizens Bank offers Early Pay and has branches in NH.
Thanks, I looked over Citizens offerings and while some of them are interesting; their Citizens Quest Checking appears to be a virtual clone of the TDBank Beyond Checking account I've been using for four years now. Nice to know there is an option to TD if my relationship with them sours, but I find that highly unlikely, they've been very good to me.
It's funny how we all have different experiences with different institutions. I've noted on multiple occasions your satisfaction with TD Bank. I on the other hand always found them to be crummy.

Yeah, I've noticed that as well. I suppose it could be the individual branches; I use three here in New Hampshire on a somewhat regular basis and the staff has always bent over backwards to accomodate my every request. My wife and I are house hunting in the Gaithersburg, MD area and when we move, if I'm not a fan of the branches down there, I may shop around. The closest financial institution to the community we're trying to buy into is CapitalOne; not a huge fan of them, but that is certainly one option.

Re: TD Early Pay

CreditCuriosity — Sun, 31 Mar 2024 14:47:19 GMT

I guess I don't understand purpose of early pay.. It might help once if one is in a money situation, but after that your pay check just essentially gets there two days earlier and one gains nothing off that instead of say friday your payday is Wednesday now.

Re: TD Early Pay

Horseshoez — Sun, 31 Mar 2024 18:24:18 GMT

@CreditCuriosity wrote:
I guess I don't understand purpose of early pay.. It might help once if one is in a money situation, but after that your pay check just essentially gets there two days earlier and one gains nothing off that instead of say friday your payday is Wednesday now.

What makes you think I don't understand?

Re: TD Early Pay

SouthJamaica — Mon, 01 Apr 2024 21:30:25 GMT

@CreditCuriosity wrote:
I guess I don't understand purpose of early pay.. It might help once if one is in a money situation, but after that your pay check just essentially gets there two days earlier and one gains nothing off that instead of say friday your payday is Wednesday now.

Think of each deposit as having an interest-free 2 day loan attached to it.

That could be worth something to some folks.

There is a time value to money. And I would rather have the money in hand than have it floating around somewhere in banking channels.

Re: TD Early Pay

CreditCuriosity — Mon, 01 Apr 2024 21:51:33 GMT

@Horseshoez wrote:
@CreditCuriosity wrote:
I guess I don't understand purpose of early pay.. It might help once if one is in a money situation, but after that your pay check just essentially gets there two days earlier and one gains nothing off that instead of say friday your payday is Wednesday now.
What makes you think I don't understand?

Didn't say that.. Just silly banks including mine offer it, but doesn't mean it really is anything just advances your payday two days early and as mentioned equals out to zero after the first time used. I guess one can think of it money interest free for two days and mentioned above this reply. Just a fimmick imho whatever bank it is.

Re: TD Early Pay

sznthescore — Tue, 02 Apr 2024 14:06:58 GMT

@CreditCuriosity wrote:
I guess I don't understand purpose of early pay.. It might help once if one is in a money situation, but after that your pay check just essentially gets there two days earlier and one gains nothing off that instead of say friday your payday is Wednesday now.

For me I look at it as.... "It's my money and I want it now!".

Pay period ends on Saturday;

Sunday; approve time card (digitally)

Monday; last minute adjustments before 11am

Tuesday; payroll is batched

Wednesday; funds in my account as opposed to Friday.

Two extra days of waiting for what 🤷🏽‍♂️

Re: TD Early Pay

FicoMike0 — Tue, 02 Apr 2024 14:47:31 GMT

I too like being paid sooner rather than later. Here's citizens offer

https://www.citizensbank.com/promo/checking/special-offer-2024-a2.aspx

Showing my age, I remember being paid through Saturday, in cash, on Saturday. I worked in a grocery store no one heard of in most of the country these days. Those in the North east may know it. Hint, they were once the largest grocery chain in the US and the largest retailer in the world.

Re: TD Early Pay

Horseshoez — Tue, 02 Apr 2024 16:42:01 GMT

A&P?

Re: TD Early Pay

FicoMike0 — Tue, 02 Apr 2024 22:01:19 GMT

You got it! How the mighty have fallen. I remember once the Folgers rep pointed out what it said in the fine print on the a&p instant coffee, "a&p tea co importer, roaster, manufacturer, retailer". Talk about vertically integrated. He said Folgers bought most of their beans from a&p.