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William, Long Beach
July 6, 2015 01:09:00 PM
In reply to William, Long Beach
Good day, William,
Thank you for getting in touch with us here on TD Helps! Welcome to the community.
If you will be initiating the payment you mentioned via your credit card company, and you'd like to have the funds withdrawn from your savings account, you are more than welcome to do so. We would not assess a fee for this type of transaction if it is initiated elsewhere.
Please kindly keep in mind that savings accounts are subject to Regulation D, which is a government regulation that places limitations on the number of monthly transactions that can be made from a money market and/or savings account. You would be limited to six total electronic debit transactions from these types of accounts per statement cycle, which would include ACH debits or payments as mentioned in your message.
Please note, if more than six of these transactions are made during the statement cycle, your account will be charged $9.00 for the seventh transaction and for each subsequent transaction at this time (subject to change). Here is our Personal Deposit Account Agreement http://bit.ly/1kb17UQ for you to view for more information (pg. 7). For more information on our fee schedule, please take a look here: http://bit.ly/1cTejgt.
The limitations on money market and savings accounts include:
1. Pre-authorized ACH – Automated Clearing House debits (health club fees, insurance premiums, car payments, mortgage payments, etc.).
2. Pre-authorized transfers (for example, overdraft protection, transfers to Holiday Club, transfers to checking account).
3. TD Bank Online Banking and Telephone Banking transfers (debited from the money market or savings account).
4. Request made by phone or fax for transfer
5. Wire transfers
Additionally, we recommend reviewing the dates of your savings or money market statement cycle with a Banking Specialist, to ensure you're aware of the period during which you have six allowable transfers. Please call us anytime 24/7 at 888-751-9000, or stop in at a TD Bank Store near you. Check out http://bit.ly/TDStores for your nearest Store location.
If you have other questions, William then please reply to us here using the button in the top right corner. Or reach us as above, and we'll be glad to assist.
Wishing you the best and hope this has been helpful.
Enjoy your week ahead!
Kristen P, Mount Laurel
July 6, 2015 01:10:34 PM