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I want to deposit a check from a friend to cover my overdraft. Will the fund be available the next day? What would happen if the check bounces?
June 10, 2017 12:17:46 PM
In reply to Tucker, Boston
Welcome to TD Helps, Tucker.
The type of deposit you make determines when the funds will be available. As you have stated that you want to make a check deposit, we'll be happy to provide you with specific details for this type of deposit.
When you deposit a check with a Teller, the first $100 is made available right way. If you are a new account holder, and your account has not been open for 30 consecutive days, please note that your check can be held for 7-10 business days for verification purposes. After this grace period, not only will the first $100 be made available at the time of deposit, but the rest of the funds may credit to your account the following business day.
Should you decide to make your check deposit through the ATM, the first $100 dollars is also credited immediately, while the remainder of your deposit will be applied to the balance on the following business day, should no other holds be applied. You also have the option of performing a Mobile Deposit using your mobile app. Please note that this feature, unlike a deposit with a teller or at an ATM, does not credit any funds initially. The funds may be credited on the following business day.
We invite you to read up on our Funds Availability Policy and other important details by visiting the link here https://go.td.com/1kb17UQ (pages 40-44).
In the event that the check you deposit gets returned, the funds would be debited from your account, and a Returned Deposited Item (RDI) fee may be assessed. We recommend checking out https://go.td.com/2lbbfGg for more information regarding this fee.
Have a great rest of your day, Tucker, and enjoy your weekend!
Customer Service Team, Mount Laurel
June 10, 2017 12:18:06 PM