Frequently Asked Questions about
Savings Overdraft Protection

Savings Overdraft Protection allows you to link your statement savings or money market account to your checking account to protect you from overdrawing your checking account. If your checking account would become overdrawn, and provided that you have sufficient funds available in your savings or money market account, the funds will be automatically transferred to your checking account. This will ensure that your checks are paid, and it saves you overdraft charges. No credit approval is required.

Savings Overdraft Protection transfers from a statement savings or money market account count toward the Regulation D limit of a total of 6 pre-authorized, automatic or telephone transfers or payments per statement month.

There is no annual fee for Savings Overdraft Protection. There is a fee of $10 each time money is automatically transferred to your linked checking account to prevent an overdraft.

To see the latest fees for all overdraft services, please see our current Fee Schedule.

To qualify, you must have a TD checking account plus a statement savings or money market account.

Passbook Savings, Health Savings and IRA accounts do not qualify and cannot be used for Savings Overdraft Protection.

Joint Accounts – If your accounts are jointly held, you and your co-owner must both accept the Savings Overdraft Protection agreement.

Minors – Savings Overdraft Protection may be offered on checking and savings accounts that are jointly held with a minor, provided that you, as the adult on the accounts, supply the bank with a written statement that you accept full responsibility for all fees, whether activated by you or the minor.

You must visit your local TD Bank location in order to add Savings Overdraft Protection.

Savings Overdraft Protection allows for the automatic transfer of available funds from your savings or money market account to your linked checking account in order to prevent checking overdrafts.

TD Debit Card Advance is a discretionary overdraft service that may help you avoid ATM and one-time debit card declines when Savings Overdraft Protection is not enough to cover a potential overdraft plus fee. Read important information about TD Debit Card Advance.

Savings Overdraft Protection transfers to your linked checking account are made in the exact amount of the overdraft, plus the transfer fee.

If you do not have sufficient funds in your Savings Overdraft Protection account to cover the entire overdrawn balance plus the transfer fee, NO funds will be transferred.

The transfer fee will be assessed to your checking account on the same day that the transfer is completed. Please see our current Fee Schedule.