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I have a savings account. I occasionally take money out, but now im being alerted that if i make a transfer to use the money i would be charge. I mean i have to use that money because its the saving for my wedding. Is there another way to use my savings without making a transfer?
May 21, 2015 04:04:33 PM
In reply to Kiara, Hartford
Welcome to TD Helps, Kiara. We'd be happy to review.
It sounds like the fee you're noticing is the "Excess TX Fee." This fee is assessed when your Savings or Money Market account exceeds six (6) withdrawals during a statement cycle. Please note, there are ways in which you're able to make withdrawals without exceeding this limit. We invite you to visit http://bit.ly/1cTejgt to view our fee schedule.
The transactions which are limited for Money Markets and Savings accounts are:
- Pre-authorized ACH – Automated Clearing House debits (health club fees, insurance premiums, car payments and mortgage payments).
- Pre-authorized transfers (Overdraft protection, transfers to Holiday Club and transfers to a checking account).
- TD Bank Online Banking and Telephone Banking transfers (transfers that are debited from the Money Market or Savings account).
- Request made via phone or fax for transfers (a request made by phone falls in the unlimited category if a check is mailed to the depositor as a result of the phone transaction)
- A check drawn on the account to any payee (this type of transaction is limited to checking accounts and MMDA accounts)
- Debit Card purchases (this type of transaction is limited to checking accounts)
- Wire transfers
Transactions that will not incur the Excess TX Fee are Over-the-Counter (OTC) withdrawals, ATM withdrawals, ATM transfers, transfers for paying TD Bank loans and transfers originated in person, by messenger or by mail.
For more information please take a look at our Personal Deposit Account Agreement here: http://bit.ly/1kb17UQ (pages 6-7).
If you would like to review your concerns with a Representative, feel free to call us 24/7 by dialing 888-751-9000 or by visiting a TD Store during lobby hours. To take a look at TD Stores near you please visit http://bit.ly/TDStores.
We hope this helps, Kiara and have a good day.
Megan K, Mount Laurel
May 21, 2015 04:05:10 PM