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.
A individual/business wants to hire me for a job, but they are only willing to pay via bank transfer. If I give out my account and routing numbers, they can use this information to create checks or steal from my account in other ways, correct? Is there a safe way for them to transfer money from their account (I don't think their account is with TD) to mine without putting me at risk in any way?
Lydia, North Haven
July 26, 2017 03:02:56 PM
In reply to Lydia, North Haven
Hi Lydia! Thanks for reaching out to us first.
It is always best to be safe if you're unfamiliar with the person or company requesting your account information.
Most companies are able to issue paychecks if their employees are not set up for direct deposit, or you can simply choose not to use that service. In fact, if an employee does opt for direct deposits, it can take some time for direct deposit to be set up and the employee is usually issued paper checks for at least 1-2 pay cycles.
You've mentioned account transfers, which are different than the direct deposits that are considered standard for payroll. While personal accounts offer account transfers to outside banks, even instantaneously, business accounts are generally not able to enroll in this service.
If you're uncomfortable providing your account information to the person or company that has requested that info, we recommend discussing the option of payment in check form until you're confident in setting up a direct deposit.
If you have any other questions, please don't hesitate to 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 wish you the best of luck with your new role. Have a great day, Lydia!
Candice A, Mount Laurel
July 26, 2017 03:03:18 PM