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 have been using my credit card a lot recently to build credit. In doing this, I have also been paying my balance by transferring money from my checking account. Is this kind of transfer considered different from the kind where I move money from checking to savings?
August 11, 2015 09:06:13 AM
In reply to Michael, Brookline
Hey Michael, welcome to TD Helps. We understand your concerns and would be happy to provide you with some clarification regarding transfer limits.
We'd like to take this opportunity to let you know that checking account to checking account transfers are unlimited. However, there is a limit to how many transfers that can be made from your savings account. You can make up to 6 electronic transfers a month without being assessed an excessive funds transfer fee. Electronic transfers include; pre-authorized, automatic or telephone transfers or payments. There is a fee for each transfer that exceeds the limit. For more information on the fee schedule, please take a look here: http://bit.ly/1cTejgt (listed under "Other").
We invite you to view the transactions which are limited for Money Markets and Savings accounts:
- Pre-authorized ACH – Automated Clearing House debits (health club fees, insurance premiums, car payments and mortgage payments).
- Pre-authorized transfers (Overdraft protection, transfers to Holiday Club and transfers to a checking account).
- TD Bank Online Banking and Telephone Banking transfers (transfers that are debited from the Money Market or Savings account).
- Request made via phone or fax for transfers (a request made by 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 (this type of transaction is limited to checking accounts and MMDA accounts)
- Debit Card purchases (this type of transaction is limited to checking accounts)
- Wire transfers
Transactions that will not incur the Excess TX Fee are Over-the-Counter (OTC) withdrawals, ATM withdrawals, ATM transfers, Transfers for paying TD Bank loans and Transfers originated in person, by messenger or by mail. For hours and locations near you, please check out: http://bit.ly/TDStores.
We hope the information provided was helpful, Michael. We are here to help so please do not hesitate to reach out to us again should you need anything else. Enjoy the rest of your day!
Yen D, Mount Laurel
August 11, 2015 09:08:42 AM