Why did Scottrade sell my brokerage account(s) to TD Ameritrade and my bank account(s) to TD Bank, N.A., rather than sell both accounts to TD Ameritrade?
TD Ameritrade is an industry leading brokerage firm and does not offer bank accounts. This means they could not purchase Scottrade Bank. TD Bank, N.A. is a retail bank. Together, TD Ameritrade and TD Bank, N.A. are working to ensure you receive the same services between your brokerage and bank accounts that you experience today.
Why did I receive a communication about my brokerage account(s) and a separate communication about my bank account(s)?
TD Ameritrade purchased Scottrade, Inc. including your brokerage account. TD Bank, N.A. purchased your Scottrade Bank account. Both TD Ameritrade and TD Bank, N.A. will keep you informed about any changes to your accounts.
Why did I receive a communication about my brokerage account(s) but haven’t received any communication about my bank account(s)?
Communications about the change in ownership of Scottrade Bank to TD Bank, N.A. have been mailed and emailed to account holders. Please check your email and mail for this notification from Scottrade Bank. In addition, information about the change has been posted to this website. At this time, it is business as usual and your Scottrade Bank account and access remains the same. You'll continue to receive communications about your bank account from Scottrade Bank. Rest assured, we'll notify you of any changes to your accounts in advance.
What does this mean for me?
For now, it’s business as usual. Nothing has changed and you should continue to use your account as you do today. Your Bank account number remains the same. You can continue to use your Scottrade Bank checks and ATM/debit card, and make the deposits the same way you now do. Rest assured, we'll notify you of any changes to your accounts in advance.
How do I access my bank account(s)?
Please continue to access your bank account just as you do today, online, by phone, at an ATM and at your Scottrade branch. There are no changes to your login ID, password, URL or phone number.
Will my bank account number change?
Your bank account and your account number remain the same. If there are any changes, we’ll notify you in advance.
Will any of my bank accounts and bank services change?
Your bank account and services remain the same. It's business as usual for now.
Can I still use my ATM/debit card and checks?
Yes. It's business as usual. Please continue to use your ATM/debit card and any checks you have on hand.
How can I make deposits to my bank account?
It’s business as usual which means you should continue to make bank deposits through our Mobile App on your smart phone or send checks into our remittance center at Scottrade Bank, PO Box 4545, Carol Stream, IL 60197-4545. You'll receive more information regarding your brokerage and bank accounts in the coming months. We'll advise you of any changes to your bank account or services in advance.
I have pre-authorized debits set up for my bills. Will my bills continue to be paid?
For now, it’s business as usual and there are no changes to your pre-authorized debits. Your bills will continue to be paid as long as you maintain your account in good standing.
Will I still have FDIC coverage for my accounts?
Yes. Your FDIC insurance coverage of up to $250,000 from Scottrade Bank will remain in place for the next six months, starting September 18, 2017. During this six-month period, your Scottrade Bank FDIC insurance coverage is separate from any FDIC insurance coverage provided by TD Bank, N.A. After the six-month period, your Scottrade Bank account(s) remains eligible for up to $250,000 FDIC insurance coverage from TD Bank, N.A. This coverage will encompass any former Scottrade Bank balances and those balances that you may have had at TD Bank, N.A.
If you maintain more than one bank account at TD Bank, N.A. and/or at Scottrade Bank, you are responsible for monitoring the amount of your deposits to determine the total amount of FDIC insurance available to you.
Where can I get additional information about FDIC insurance?
Additional information about FDIC insurance coverage is available by contacting the FDIC, by letter (550 17th St. N. W. Washington, D.C. 20429), by phone (877-275-3342, 800-925-4618 [TDD]) or 202-942-3100), by email (dcainternet@fdic.gov) or by visiting the FDIC website at www.fdic.gov.
Who do I call if I have questions about my bank account?
Call Bank Support at 855-265-2265 as you do today and they will help you with any questions you may have.
Will I get charged to use a TD Bank, N.A. ATM?
As always, any ATM fees that you get charged (including those at TD Bank, N.A. locations) will be reimbursed to you at the end of your statement cycle.
Is my bank account now a TD Bank, N.A. account?
While your account is now owned by TD Bank, N.A. you can keep using your bank account just as you do today, with your same Scottrade Bank ATM/debit card and Scottrade checks. Your account number remains the same as well. TD Bank, N.A. will notify you, in advance, with any updates that may impact you.
Can I go to a TD Bank, N.A. location to access my account?
No. At this time, you cannot access your account at a TD Bank, N.A. location. Please continue to access your account in the same way you do today. When there are any changes, we’ll notify you in advance.
Can I call TD Bank, N.A. for more information?
It is business as usual. For information about your Scottrade Bank account you should continue to call Bank Support at 855-265-2265.
Will all Scottrade branches remain open?
TD Ameritrade is committed to maintaining an extensive branch network with hundreds of locations and will be evaluating all locations. Some Scottrade and TD Ameritrade locations may be combined if they’re close to each other. Decisions about specific branch closures or mergers with nearby TD Ameritrade branches will be announced as decisions are made. In each case, TD Ameritrade will communicate with impacted clients first and will share information more broadly as appropriate.
I already have a TD Ameritrade account. Can I move money from my Scottrade Bank account into it?
Yes, you can move any of your bank funds at any time through an ACH or wire transfer. Also, your TD Ameritrade account offers cash management services, which you can enroll in, if you wish.
Do I need to change any of my direct deposits?
No. Your direct deposits will continue uninterrupted. We'll notify you in advance, with any updates that may impact you. For now, it’s business as usual.
Ask us.
Contact Scottrade Bank support at 855-265-2265
