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draft me a cashier's (or certified) check to take that $38,000 back out, how long do I have to wait between making the deposit and drafting the check?
Michael, Jersey City
October 29, 2015 07:22:21 AM
In reply to Michael, Jersey City
We appreciate the visit this morning, Michael. We'd be glad to provide you with the funds availability information.
In most instances, when you deposit a check at TD Bank with a Teller, the first $100 is made available immediately. The rest of the funds are generally credited to your account on the following business day. Please note, when you are a new account holder and your account has not yet been open for 30 consecutive days, check deposits can be held for up to seven business days for verification purposes. After these thirty days, you can expect that your account will be provided the standard funds availability as mentioned.
If you made a check deposit and you have had your account open longer than 90 days, the first $100 dollars is credited immediately while the remainder of your deposit will be applied to the balance on the following business day. If your account has been open less than 90 days there will be nothing available immediately. Unlike the ATM, the Mobile Deposit feature does not credit any funds initially. The funds will be credited on the following business day.
Please keep in mind, if you make a deposit at TD Bank before 8:00 PM on a business day, it would be considered a deposit on that business day. A business day is every day except Saturdays, Sundays, and federal holidays. For weekend deposits, this usually means that the deposit will be considered Monday's deposit and will post to your account at the earliest on Tuesday.
We invite you to look at our Personal Deposit Account Agreement here: http://bit.ly/1kb17UQ, which can explain our deposit availability policy in full detail for you. Please see pages 39-42, where you can find our Funds Availability Policy specifically the Special Rules for New Accounts along with information about when you'll have access to deposits.
Please know that we'd like to assist you directly, however, we do not have access to your personal information since this is considered an unsecured forum. We invite you to contact us at your convenience 24/7 at 888-751-9000 if you have any further questions. Or, you're more than welcome at any local TD Bank Store; please see http://bit.ly/TDStores to find a location near you.
We hope this was helpful information, Michael. Please let us know if you have any other questions.
Yen D, Mount Laurel
October 29, 2015 07:26:28 AM
In reply to Yen, Mount Laurel
Thanks Yen, I did look at the policy but it doesn't mention if depositing a bank check was any quicker than depositing a personal check. The account has been open much longer than 90 days, so it sounds like the full $38,000 would be available the next business day, which means I could draft a bank check that very next business day using those same funds, right? I ask because your use of the word "generally" leaves me weary that it's not guaranteed. I would need a guarantee, or an understanding of precisely what circumstances may result in invoking the bad side of "generally".
Michael, Jersey City
October 29, 2015 12:06:08 PM
We appreciate your question, Michael.
We'd like to inform you that even though this is a bank check you deposited, it is treated as a check and the funds availability is the same.
Typically the deposit will be available the next business day; however, as mentioned in our previous response, there are exceptions. Please our Personal Deposit Account Agreement, provided above or here: http://bit.ly/1kb17UQ, please see page 40, specifically under "Longer Delays May Apply." We invite you to connect with our Banking Specialist directly at 888-751-9000, 24/7, and once connected and after account verification, we'd be glad to look into your account and provide more details information regarding your deposit.
As always, you may also visit us during lobby hours by checking out our Store Locator above.
We hope this helps, Michael. Have a good day!
Yen D, Mount Laurel
October 29, 2015 12:09:36 PM