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I was charged an overdraft fee after my student loan payment was withdrawn unexpectedly. However, I had multiple pending transactions. It is my understanding that overdraft fees cannot be deducted when the transactions in question are still PENDING.
I used to be able to replenish the insufficient funds before the end of the day to avoid an overdraft fee. Now TD Bank says you must have the money for coverage BEFORE you overdraw from your account. This was not possible as my student loan payment was not scheduled to be taken out when it was. Please help? I can't find any answers and it seems extremely unfair to me that I am being charged an unavoidable overdraft fee when there was literally nothing I could do to prevent it.
Please help? I would really like to get this taken care of.
Karleigh, Greenwich, NY
April 27, 2017 07:09:05 AM
Saving & Managing Your Money
In reply to Karleigh, Greenwich, NY
Thank you for reaching out to us on TD Helps, Karleigh. We understand how confusing fees can be and we are happy to help you in avoiding them!
At this time, TD Bank will assess an Overdraft fee for each posted transaction which overdraws the account up to 5 items per day if the account becomes overdrawn. While you will not get charged for a pending item specifically, please know that pending items do affect your available balance for other items that are posting. Additionally, fees are subject to change. Please see our current Fee Schedule at http://go.td.com/1cTejgt and the Deposit Account Agreement at http://go.td.com/1kb17UQ (pgs. 9-10) for additional information. Please note: In order to avoid overdraft fees from occurring on your account, you must have the funds in your account before funds are removed.
If you need additional assistance or have any concerns about overdraft fees on your account, we encourage you to give us a call at 888-751-9000 and a Banking Specialist will be more than happy to review your account with you to help you avoid fees in the future. For your convenience, we're available 24/7. You're also welcome at any TD Bank Store, and please see http://go.td.com/TDStores to find a location nearest you. As we would like to assist you directly, unfortunately, we do not have access to your personal information since this is considered an unsecured forum.
Also, if you are enrolled for online banking, you may send a secure message using www.tdbank.com. To send a secure message you must first logon to your TD Bank online profile. You can do so by clicking here: http://go.td.com/1eaISlq. On the left hand side, you should see an option to "Send a secure message" located in the “Message Center." If you have not enrolled, please call us 24/7 at the number listed above to speak with our Banking Specialists. If you are enrolled for our BusinessDirect online banking, you may use this link to logon http://go.td.com/1rvBmq8 and send a secure message.
We are always here to help, Karleigh. Feel free to reach out to us with any additional questions.
Kris M, Mt. Laurel
April 27, 2017 07:09:20 AM