What does a TD Savings Account offer?
The multi currency Savings Account from TD Direct Investing is an instant access deposit account, which will earn you a rate of interest on your savings that are not being used for funding investments.
Access four major currencies (Sterling, Euro, US Dollars and Canadian Dollars) so you can perform transactions in multiple currencies from a single online account.
Please note that money will not be automatically taken from your savings account to pay for trades, but don’t worry it is quick and easy to transfer your savings to your Cash Management Services Account so you can react quickly to trading opportunities or pay for transactions that are due to settle.
Savings Account Benefits
- Interest is accrued daily and paid quarterly (View Rates & Charges for more information).
- Access to four major currencies
- No minimum balance required.
- Instant access to your cash.
- Online or telephone banking facilities.
Savings Account changes
From 6th April 2016, most UK taxpayers will receive savings income free of tax (up to a certain limit); known as the new Personal Savings Allowance (PSA). Basic rate tax-payer will receive up to £1,000 of savings income tax free, higher rate tax-payers £500 and there is no PSA for additional rate tax-payer. We currently take basic rate tax from your savings income and from 6th April we will cease doing so.
There is no action for most customers to take. If your savings income is below the new PSA you will have no tax to pay. If your savings income is above your respective PSA, any tax payable will be automatically collected by HMRC, through a change to your tax code - based on information provided by banks and building societies. If you currently complete a Self-Assessment tax return you should continue to do so. For further information about these changes, go to: www.gov.uk/hmrc/savingsallowance.
Open a TD Savings Account
If you're new to TD you can add a linked Savings Account when you apply for a Trading Account.
Lines are open Monday to Friday 7.30am to 9pm and Saturdays 9am to 3pm