This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

TD Bank Survey Reveals Many Hispanic Couples Maintain Separate Bank Accounts

Stocks in this article: TD

CHERRY HILL, N.J., May 5, 2014 /PRNewswire/ -- Fifty-two percent of those in relationships that have joint bank accounts also maintain individual accounts, according to research by TD Bank, America's Most Convenient Bank ®. The study, which is an extension of the TD Bank Checking Experience Index, surveyed more than 1,000 Americans, including 150 Hispanics, who are either married or living with a significant other to explore how couples of all ages structure their bank accounts.   

The survey revealed that couples who maintain individual accounts do so for a variety of reasons, ranging from independence (30 percent) to emergencies (21 percent), and use a wide range of account types (18 percent) such as savings, business and more. The survey also identified that Hispanics who opened their first joint account were married (76 percent) followed by Hispanics who lived together (20 percent).

"While the majority of Hispanic couples continue to maintain separate bank accounts, the role of their trusted financial partner is vital especially when saving for the future," said Lindsay Sacknoff, Senior Vice President, Head of Retail Deposit Products, TD Bank. "Hispanics are looking for a bank that best suits their everyday needs,  provides access to features and benefits associated with joint accounts to cover everyday household expenses and provides support and guidance on making large purchases like buying a first home."

Why Maintain Separate Accounts?

The TD Bank survey indicated that:

  • Thirty percent of Hispanics in relationships who maintain separate accounts said they do so for independence, making it the top reason for maintaining individual accounts.
  • Twenty-one percent of Hispanic respondents maintained separate accounts to ensure they had funds available for individual needs like emergencies and personal spending.
  • Eighteen percent of Hispanics noted the account type as a reason to keep separate accounts.
  • Sixteen percent of Hispanic respondents noted convenience and ease of budgeting and paying bills as reasons to keep separate accounts.
  • Only four percent of Hispanics cited privacy as a reason to maintain an individual account.

Domestic Expenses Lead to Increased Joint Account Usage

According to TD Bank's survey, everyday co-habitant expenses play a significant role in the use of joint accounts among Hispanic couples:

  • Eighty percent of Hispanics in relationships use their joint bank accounts for monthly utility bills.
  • Seventy-nine percent of Hispanics in relationships use their joint bank accounts for household purchases such as groceries, furniture, gas and more.
  • Seventy-eight percent of Hispanics in relationships use their joint bank accounts for direct deposit.
  • Seventy-one percent of Hispanics in relationships use their joint bank accounts for savings.
  • Sixty-eight percent of Hispanics in relationships use their joint bank accounts for personal purchases such as clothing, gadgets, gifts and more.

About Angus Reid Public Opinion Angus Reid Public Opinion is the Public Affairs practice of Vision Critical—a global research company. Vision Critical is a leader in the use of the Internet and rich media technology to collect high-quality, in-depth insights for a wide array of clients.

About TD Bank, America's Most Convenient Bank®TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 8 million customers with a full range of retail, small business and commercial banking products and services at approximately 1,300 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit Find TD Bank on Facebook at and on Twitter at

TD Bank, America's Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD." To learn more, visit  


Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs