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what form do i fill out to have a payment go from my business checking account to a vendors account at the end of each month
October 29, 2014 11:31:03 AM
In reply to mark, philadelphid
Thanks for reaching out to us Mark and we hope your day is going well. You came to the right place to ask about automatic payments!
Setting up an automatic payment from your TD Bank account can be done through our Online Banking services.
Just in case you're not already enrolled for Online Banking, you can enroll here http://bit.ly/1dl2HX6 or if you have a Retail/Small Business Account with us you may enroll in BusinessDirect here http://bit.ly/1dl2HX6. Just follow the steps to enroll and you'll be online in no time! Just have your ATM/ Visa debit card, account number, Social Security/Tax Identification number and email address. You'll be able to create a username and password that you can use to access both the website and the TD Mobile App.
Setting up an automatic payment can depend on how your business account was setup with us. If your account was setup as a TD Bank BusinessDirect Account then your can setup a reoccurring payment through our Online Banking services two ways – either as an automatic bill payment or an ach transfer.
To set up a bill payment, you'll first have to enroll in our TD Bank Bill Pay service if you haven't already by logging in here http://bit.ly/1rvBmq8 and clicking on the "Bill Pay" tab on the top. Just follow the prompts and review and accept the Terms & Conditions to get started.
Once you're logged in, access the "Bill Pay" tab on the top left again. You'll have to setup the new company you wish to pay by entering the name of the company in the search bar that appears or by clicking on the "Add a New Payee" button on the top. Just follow the prompts and enter in the company's information and you'll be ready to schedule payments to the biller you've just created in just a few more steps.
Once you've setup your new biller, you'll want to setup the payment to come out of your account automatically by following the steps below:
1. Click on the “Bill Pay” tab located at the top of your screen.
2. Click on the “Manage Your Bills” tab.
3. Select the appropriate biller from the “Biller Name” list.
4. Select the option “Add an automatic payment” from the “What would you like to do?” list.
5. Fill out all of the required information and then click on the “Set Up Payment” Button.
To setup an automatic payment as an ACH transfer, first log into your TD Bank BusinessDirect account and click on the "ACH" tab at the top. You can initiate ACH payments online with just a few quick steps and pay your suppliers and/or other business partners electronically without having to mail out paper checks.
You'll need to answer a couple simple questions and review the ACH Terms & Conditions and you'll be able to setup an automatic ACH transfer in moments. The process is very similar to setting up a TD Bank Bill Pay. Please reach out to a Digital Banking Specialist 1-800-493-7562 (option #2) if you have any specific questions about setting up a new ACH.
If your account was setup as a Retail/Small Business account, then you have the option to setup a reoccurring bill payment to your vendor just like a BusinessDirect account.
You can log in to your account here http://bit.ly/1eaISlq and access the "Bill Pay" tab and follow the same instructions above to enroll and setup a new payee. After your payee is setup, just setup the bill payment and you're set!
Hope these instructions are helpful and please connect with us if you have any other questions! You can reach a Digital Banking Specialist anytime day or night, 365 days/year, at 1-800-493-7562.
Have a great day Mark!
Sandy D, Mount Laurel
October 29, 2014 11:33:52 AM