Small Business Banking
Private Client Group
Personal Financial Services
For the quickest answer, search previously asked questions below. Chances are, others have asked a similar question and there's already an answer waiting for you. If you can't find a match, ask a new question and our team members will answer.
i sent a check to a friend in kentucky and she recieved it few days ago but she said it will take up to seven days to clear so i want to know how true this is.
November 8, 2014 04:11:28 PM
In reply to kennedy, Connecticut
Good day, Kennedy! We're glad to have you on TD Helps today and hope you're doing well.
As you mentioned that your friend lives in Kentucky, if he or she does not use TD Bank as their financial institution, it would be necessary to check with that bank to determine their check-clearing policies. You may note that all checks are cleared via the Federal Reserve Bank, and the location can affect the clearing time, as well as other factors.
Please note that here at TD Bank, as a courtesy to our Customers we try to make the funds from a check deposit available on the business day after the deposit; however, this does not necessarily mean that we have collected the funds from the originating bank. This process may take up to 10 business days and depends on the banks involved, the check, and the person's depositing account. There may be a similar policy at your friend's bank, and you may wish to check there for additional info.
If your friend does bank with TD, if the check was deposited with a Teller, the first $100 should be made available immediately. The rest of the funds are usually credited to the account on the following business day.
Please note if he or she is a new TD account holder, and the account has not been open for 30 consecutive days, check deposits can be held for up to 7 business days for verification purposes.
Additionally, check deposits made at a TD Bank ATM may have the same hold placed as above if they are a new account holder; and please keep in mind that via the ATM, the first $100 of check deposits may not be available right away for the first 90 days of the account.
Because there are other exceptions that may cause delays in funds availability, 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 an account will have access to deposits.
We hope this clarifies your question, Kennedy! Thanks again and have a great weekend.
Yen D, Mount Laurel
November 8, 2014 04:13:09 PM