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I continued to spend without checking, and the echeck has now started being processed to my account. But i don't have enough to cover it. What are my options, and what fees will be incurred. I have student checking.
Ilya, new york
October 16, 2017 04:58:24 PM
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In reply to Ilya, new york
Hi Ilya. Thanks for coming to TD Helps with your question today.
It sounds like you've begun using our Bill Pay service. It's a great service that can make paying your bills so easy! We'd be glad to go over how it works to make it easy for you going forward.
Payments go out one of two ways. The first is by electronic ACH payment if the company is set up to receive those kinds of payments. In that case the funds are generally taken out of your account in 1-2 business days prior to the due date and sent directly to the account of your payee.
Some companies are not set up for this service. In that case, a check is issued and mailed so that they should receive it by the due date that you set. The funds for these payments are not deducted from your account until the payee actually deposits the check into their account. This is especially helpful because then you know that the payment was received and credited to your account with them.
If the funds are no longer available in your account for the check or ACH you've issued, it may not be paid. TD Bank will sometimes pay items as a courtesy to our Customers, even when the balance is not sufficient, but there is no way to guarantee this will occur. For this reason, we recommend making a cash deposit as soon as possible.
If the check is presented against the account and it causes an overdraft, the account may be subject to an overdraft fee. You can find information about overdraft fees by reviewing the Personal Fee Schedule here: https://go.td.com/2kFZ5mK.
We'd be glad to take a look at your account and best advise if we believe the check might be paid. Please give us a call 24/7 at 888-751-9000 or stop in to see us at any of our Stores. To find one near you, please click here: https://go.td.com/1nq31dc.
We hope this info helps, Ilya. If you have any additional questions, please don't hesitate to reach out to us here or at the number above.
Have a great day!
Candice A, Mount Laurel
October 16, 2017 04:58:39 PM