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I get a payroll check from my employer, does TD put a hold on the funds or because it is a payroll check does it get immediately deposited.
September 21, 2015 10:47:49 AM
1 person recommended this |
In reply to Anne, Boonton
Thanks for joining us on TD Helps today, Anne. Let's get started on your question.
When you deposit a check with a Teller, the first $100 is usually available immediately. In general, the rest of the funds will be credited to your account on the following business day, when the deposit is made with us prior to 8:00 pm. Kindly note that we do not provide same-day availability for check deposits and we apologize for any inconvenience this may cause.
To detail this a bit more for you, if you make your deposit with one of our Tellers or via the ATM before 8:00 pm on a business day, it would be considered a deposit on that business day. A business day is every day except Saturdays, Sundays, and federal holidays. Funds become available the business day following the date of deposit. For weekend deposits, this usually means that the deposit will be considered Monday's date and will post to your account Tuesday.
Exceptions can also occur which can cause delays in funds availability. For example, if you are a new account holder and your account has not been open for 30 consecutive days, check deposits can be held for up to 7 business days for verification purposes.
For direct deposits, funds are available to you on the date designated by your depositor. These types of deposits are processed overnight at varying times and will be available for use once processing is complete. We invite you to look at our Personal Deposit Account Agreement here: http://bit.ly/1kb17UQ. On pages 38-41 you can find our Funds Availability Policy along with information about when you'll have access to deposits.
Please note, if you've just started your direct deposit with your employer and haven't received a deposit yet, please keep in mind that direct deposits generally take 1-2 payment cycles to begin. Usually, employers will test the account first with a zero dollar deposit to make sure all your account information is correct.
If you've already been receiving your deposit and it wasn't made as expected, you're welcome to give a Customer Service Representative a call at 888-751-9000. After account verification, our Banking Specialist can contact our ACH Department for more information on your direct deposit. Please keep in mind, our ACH Department is open Monday – Friday between 8:30 AM – 5:00 PM. Or if you'd like, feel free to visit at any nearby TD Bank store to have one of our Representatives look into it for you. Please see: http://bit.ly/TDStores to find your nearest location. Please note, as we would like to assist you directly, we do not have access to your information as this is considered an unsecured site.
We hope this information is helpful, Anne and have a great day.
Alara B, Mount Laurel
September 21, 2015 10:50:03 AM
1 person recommended this