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.
July 16, 2015 10:04:17 AM
In reply to Pat, Philadelphia
Thanks for submitting your question today, Pat. We're happy to provide more details on the TD Growth Money Market account…
TD Growth Money Market account is a Savings account that allows Customers to earn more as they save more, with the added convenience of checks! For more information regarding this specific account please check out: http://bit.ly/1vrMLtb.
Additionally, Savings & Money Market accounts are regulated by the governmental Regulation D, a restriction which limits the amount of pre-authorized debits per statement cycle. This regulation does not restrict any deposits made into a Savings account, only debits or transfers out of the account. The limitations on Money Market and Savings accounts include up to 6 debits per statement period of the following transaction types:
- Pre-authorized ACH – Automated Clearing House debits (health club fees, insurance premiums, car payments, and mortgage payments).
- Pre-authorized transfers (overdraft protection, transfer to Holiday Club, and transfer to checking account).
- TD Bank Online Banking and Telephone Banking transfers (debited from the money market or savings account).
- Request made by phone or fax for transfer (a request made my phone falls in the unlimited category if a check is mailed to the depositor as a result of the phone transaction)
- A check drawn on the account to any payee other than the depositor (applies to Money Market accounts)
- Wire transfers
Please review pages 6 & 7 of the Personal Deposit Account Agreement here: http://bit.ly/1kb17UQ for more information about this regulation.
If you happen to exceed the transaction limit during a statement period, you will be notified on the first two occurrences by letter via mail. Please note, on the third occurrence, Personal Savings are automatically converted to a transaction Savings account and you will be informed in writing of the changes. Depending on the original account type, this change may reduce the interest rate and earnings. Also, a fee may also be assessed if the transaction limit is exceeded; please see our current Fee Schedule at http://bit.ly/1cTejgt for more information.
We recommend contacting our 24/7 Banking Specialist at 888-751-9000 or visit your local TD Bank Store during lobby hours for additional information and assistance. To find a TD Store location near you, please visit: http://bit.ly/TDStores.
Hope this helps and please let us know if you have any additional questions. Have a nice day!
Colleen B, Mount Laurel
July 16, 2015 10:04:53 AM