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Hello! I opened a TD account this week and would like to start the process of switching over from my old bank. I did my primary deposit this morning, but now I was wondering if I could transfer more money over - electronically - from my old bank.
My old bank allows me to transfer money to another bank using online banking. Can I transfer money over to my new TD account this way? And if so, is there a fee?
Brandon, Staten Island
August 25, 2014 10:11:41 AM
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In reply to Brandon, Staten Island
Thanks for coming to TD Helps with your inquiry, Brandon.
Welcome to the TD family and we would be glad to provide you with information on transfers you can do to fund your account.
First we recommend signing up for our Online Banking. You can enjoy free online access to your accounts anytime with TD Bank Online Banking. If you have an ATM/Debit Card and Social Security number you may fill out the online application to access your personal account(s). Please visit http://bit.ly/1lU2qfY to enroll for TD Bank Online Banking. Once there, you will need to choose Personal from the drop down box. Signing up for TD Bank Online is quick and easy – allowing you to view your accounts in just three simple steps! First, you'll have to accept the Online Banking Agreement. Then, we'll ask you to enter in your personal information (Name, Social Security number, account number, etc.) and finally, you will have to set up three security questions. After those 3 steps are completed, you will have immediate access to your account(s) online.
If you are trying to transfer to one of your accounts at a different institution you can do so by using the "Transfers" tab. After selecting the "Transfers" tab you will then have to click "Transfer to Accounts Outside TD Bank." If you have not already done so, you would have to add your account at a different institution. To do so, select "Add a New Account." You will then be prompted to select the type of account followed by the account and routing numbers. Once you enter the required fields, the transfer service will then display whether or not you can make an immediate transfer. In some cases, a trial deposit is initiated at the receiving institution for verification purposes. External transfers can only be conducted to or from a U.S. account in U.S. currency only. External Transfers can only be made from an Eligible Transaction Account: for example, personal checking, money market or savings accounts are usually allowed, with you as a signer on the account. Please note, accounts excluded from using this service due to ACH restrictions include, but are not limited to: Passbook, IRA, Holiday Club, Club Saver, and CDs. You have two delivery options when sending an external transfer. There is the three business day option which has a cut-off time of 1:00am and a fee of $3.00. You also have the option to send the external transfer with next business day delivery, which has a cut-off time of 5:00pm. Please note, the next day delivery option is not available for savings accounts. To qualify for the next day delivery option, you must wait 90 days from your first successful 3-day transfer and must not have had any transactions which overdrew your account in the past 90 days. For the Terms and Conditions in addition to information on the payment methods and amounts, please check http://bit.ly/1pADlWD. As mentioned before, if you have any difficulties, please contact our Digital Banking Specialists for assistance. We recommend checking with the other financial institution to ensure no other additional information is required.
Have a spectacular Monday and let us know if you need anything else.
Brian M., Mount Laurel
August 25, 2014 10:12:41 AM
In reply to Brian, Mount Laurel
Thank you Brian. I'm afraid this doesn't answer my question. I'm not looking to transfer money out of my TD account. I'm looking to transfer money IN to my TD account (an incoming transfer from another bank). How is this done?
Brandon, Staten Island
August 25, 2014 11:27:55 AM
Sorry about the confusion, Brandon.
The "External Transfer" feature can be used to receive and send funds between financial institutions. Another option that you have is to get in contact with the other financial institution and set up a transfer via one of their platforms.
Again, our apologies about any confusion and have a great day!
Brian M., Mount Laurel
August 25, 2014 11:28:53 AM
The Transfers paragraph of TD's online banking site says information on transfer fees is easily available at this website. Neither Brandon nor I can find it and you haven't answered it yet. I thought I saw somewhere a $3 fee for external transfers into a small business account but cannot find it now. I ask Brandon's question as well because I made transfers from PNC into TD in 2011 and 2012 with no fee. question: are external transfers into td free?
October 15, 2014 09:19:49 PM
In reply to CRAIG, MERCHANTVILLE
Thanks for connecting with us here on TD Helps, Craig. We apologize for any confusion regarding External Transfers associated fees and would be happy to clarify this for you.
It is free of charge to receive funds when the transfer was initiated through a Financial Institution other than TD Bank. However; if you are initiating an External Transfer to receive funds from an account you have with a different Financial Institution into your TD Account by using your TD Online Banking, fees may apply depending on the delivery option you choose, next day or 3 day delivery. For more information, please click here: http://bit.ly/1cTejgt (located under "fees"). Please note, to qualify for the next day delivery option, you must wait 90 days from your first successful 3-day transfer and must not have had any transactions that overdrew your account in the past 90 days.
For the Terms and Conditions in addition to information on the payment methods and amounts, please check http://bit.ly/1pADlWD. If you have any difficulties, please contact our Digital Banking Specialists for assistance 24/7 at 800-493-7562. We recommend checking with the other Financial Institution to ensure no other additional information is required and to also discuss any fees that might be applied from their end.
Thanks for reaching out, Craig, and let us know of any other questions.
Cameron P, Mount Laurel
October 15, 2014 09:24:00 PM