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What is a cheap bank account?

What is a better choice, Ally bank link to TD Ameritrade account, or just ING bank account with sharebuilder?

  • I am wondering if I should go with ING banking account with a share builder account linked to it. If I do this, I would assume that transferring funds to my brokerage account would take less time, granted their rates are second best to Ally Bank. Or, just go with Ally Bank, where they have very exceptional rates, and link it to a TD Ameritrade account, but I believe by doing this option, it will take time for my funds to transfer back and forth. Thank you for taking the time to read this.

  • Answer:

    You are right, it will take more time to transfer the funds from the Ally Bank to the TD Ameritrade account, unless the latter has a protocol for automatic funds transfer. But if you only invest small amounts, say $100 per month, then you are better off with the sharebuilder account, due to lower commissions.

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