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Trying to find out how long will a draft in USD deposited into my business checking account take to clear
February 2, 2018 09:00:24 AM
In reply to Colin, Somerset
Welcome to TD Helps, Colin.
This is a great question, and we'll be more than happy to review TD Bank's funds availability with you in further detail!
We'd first like to mention that the type of deposit you make, as well as the amount of your deposit or the items it consist of, may determine when the funds will be available in your account, personal or business.
Direct deposits are available on the same business day that they are credited to your account, even while they are in a pending status. Similarly, cash deposits made with a Teller are also made available the same business day for your use.
Check deposits; however, work a little differently. When you deposit a check, the first $100 is made available right way. If you are a new account holder and your account has not been open for 30 consecutive days, please know that check deposits can be held for 7-10 business days for verification purposes.
If you make a deposit through the ATM, either cash or check, the first $100 dollars is credited immediately, while the remainder of your deposit will be applied to the balance on the following business day. Unlike the ATM, TD Bank's Mobile Deposit feature does not credit any funds initially. The funds will be credited on the following business day.
If you would prefer to learn more about TD Bank's Funds Availability Policy for business accounts, we invite you to check out the link here: https://go.td.com/2lg0QHF. After finding the account type specific to your business account, simply click 'View account guide.' On page 3, under the 'Processing Policies', you can locate our Funds Availability Policy.
Additionally, if you would prefer to review your deposit or our funds availability with one of our Small Business Banking Specialist, you're more than welcome to do so. Specialists are here 24 hours a day, 7 days a week, and can be reached by simply dialing 800-493-7562, option 2.
We sincerely hope you found this information helpful, Colin, and please let us know if we can answer any additional questions or concerns you may have.
Take care, and have a good weekend!
Brittany M, Mount Laurel
February 2, 2018 09:01:57 AM