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I am trying to make an electronic payment to a TD Bank business account and am having problems.
I tried sending the payment from BofA. BofA - Bill Pay will only send the payment via mailed check. Two of the mailed checks were returned to BofA and marked as "undeliverable". I verified with both the TD Bank branch and BofA that the mailing address and account# were correct and no errors were found. For reference, the address is:
210-212 Prospect Park Southwest,
Brooklyn, NY 11218
Also, there was one check that was successfully delivered and deposited, which suggests the info is correct and the checks were returned for a different reason.
I am not confident in the mailed check approach and would prefer to only use an electronic payment option. The only other option from BofA is a wire transfer but there is a fee.
I am now trying to use Capital One for the same transaction. They claim the payment will be sent electronically if TD Bank will accept electronic payments. Can you please confirm if I can make an electronic payment from Capital One to a TD Bank Business Account?
April 1, 2015 10:21:16 PM
In reply to Erik, Brooklyn
Thanks for reaching out to us on TD Helps, Erik. We apologize for any trouble you've had but would be glad to clear this up.
Here at TD Bank we do accept payments or transfers electronically from any source; however, please know that how the transaction is processed and sent depends on the financial institution initiating it. As you mentioned your first institution confirmed that they were only able to send a paper check, we recommend confirming with the second institution how they would be able to process the transaction as well.
Also, please keep in mind that it is up to the financial institution and person(s) initiating the transaction to send the payment using the correct information (Routing number, Account number, and account type) to be received successfully. If you continue to experience any trouble, we recommend contacting one of the Authorized Signers on the TD Bank Business account so that they may confirm other options for you to submit your payment.
If it's your own TD Bank Business account that you are trying to send money to, please feel free to contact our 24/7 Banking Specialists at 888-751-9000 as some additional options may be available.
Hope this helps Erik and have a nice night.
Justin B, Mount Laurel
April 1, 2015 10:46:12 PM