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Is there a charge and/or a limit to how many electronic payments i can have on my account?
November 9, 2015 10:27:36 AM
1 person recommended this |
In reply to dave, turnersville
Fantastic question, Dave!
We're so glad you joined us today.
If you're referring to a Personal Checking account you might have with us, we're happy to let you know that there are no limits to the number of transactions you can conduct on these accounts at this time. You can learn more about these types of accounts on this page: http://bit.ly/1aDaRqd to see if this is what you currently have.
However, kindly note that due to Regulation D, which is a governmental regulation that places limitations on the number of monthly transactions that can be made from a Money Market and/or Savings account, you are limited to six total electronic debit transactions from these types of accounts per statement cycle. This number includes transfers initiated online.
Please note, if more than 6 of these transactions are made during the statement cycle, your account can be assessed a fee for the 7th transaction and for each subsequent transaction. 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 but may not be limited to:
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
Here is our Personal Deposit Account Agreement: http://bit.ly/1kb17UQ for you to view for more information about this, available on page 7.
If you have a savings or money market account, we recommend reviewing the dates of your this statement cycle with a Banking Specialist, to ensure you're aware of the period during which you have six allowable electronic transactions. Please call us anytime 24/7 at 888-751-9000, or you can stop in to a TD Bank Store near you. Feel free check out http://bit.ly/TDStores for your nearest Store location.
Dave, we hope we answered your question completely but if not, please chat with us again! Just click the 'Reply' button in the top right corner.
Wishing you a great Monday and take care!
Kristen P, Mount Laurel
November 9, 2015 10:28:25 AM