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IT IS DEPOSITED TODAY, AND WE ARE MAKING SETTLEMENT NEXT FRIDAY THE 29TH WILL THE FUNDS BE AVAILABLE FOR A CASHIERS CHECK FOR SETTLEMENT? HELLO. MY FIANCE HAS AN ACCOUNT WITH TD AND HAS FOR YEARS. HE IS RECEIVING A CASHIERS CHECK FOR ABOUT $XXXX WE ARE PURCHASING A HOUSE. IF IT IS DEPOSITED TODAY, AND WE ARE MAKING SETTLEMENT NEXT FRIDAY THE 29TH WILL THE FUNDS BE AVAILABLE FOR A CASHIERS CHECK FOR SETTLEMENT?
December 23, 2017 06:54:26 AM
In reply to BIANCA, ABINGTON
Congratulations to both you and your fiancé on your home purchase, Bianca!
We know how important it can be to ensure that funds are available for such a large purchase, and we'll be more than happy to help.
Generally speaking, when a deposit is performed to a deposit account, such as a Checking of Savings, the availability of funds can vary depending on the amount, as well as how the deposit was initiated. So that you and your fiancé can avoid any confusion with this deposit, we'll be happy to go over TD Bank's funds availability in further detail.
Direct deposits are available on the same business day that they are credited to an account, even while they are in a pending status. Similarly, cash deposits made with a Teller are also made available on the same business day.
Check deposits; however, work a little differently. When a check is deposited, the first $100 is made available right way, while the remainder of the funds are typically available on the following business day. If your fiancé is a new account holder, and his account has not been open for 30 consecutive days, check deposits can be held for 7-10 business days for verification purposes. This extended hold can also occur for checks larger than $1,500.
If a deposit is made through the ATM, either cash or check, the first $100 dollars is credited immediately while the remainder of the deposit may be applied to the balance on the following business day. Unlike the ATM, the Mobile Deposit feature does not credit any funds initially, and the funds will be credited on the following business day.
If you'd like, you and your fiancé are more than welcome to check out our Personal Deposit Account Agreement to learn more. The agreement can be found here: https://go.td.com/1kb17UQ, and on pages 40-44 you can find our Funds Availability Policy.
If you or your fiancé have any additional questions or concerns, we're here to help. Banking Specialists can be reached by simply dialing 1-888-751-9000, 24 hours a day, 7 days a week, or you may also visit a TD Store location to speak with a Customer Service Representative, during lobby hours. To take a look at Store locations and their hours, please visit http://go.td.com/1f9DSJR.
We hope this cleared up any confusion, Bianca, and that you and your fiancé enjoy your new home!
Have an amazing holiday weekend!
Brittany M, Mount Laurel
December 23, 2017 06:55:18 AM