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can I remove money from my money marketing account
February 1, 2016 12:12:18 PM
In reply to Anthony, Westfield
Thanks for your question, Anthony. We'd be glad to discuss money market accounts.
Money Market accounts are Savings accounts that allows Customers to earn more as they save more, with the added convenience of checks! For more information in regards to Savings and Money Market accounts please check out: http://bit.ly/1vrMLtb.
Additionally, Savings & Money Market accounts are regulated by the governmental Regulation D, a restriction which limits the amount of pre-authorized debits per statement cycle. This regulation does not restrict any deposits made into a Savings account, only debits or transfers out of the account. The limitations on Money Market and Savings accounts include up to 6 debits per statement period of the following transaction types:
- Pre-authorized ACH
– Automated Clearing House debits (health club fees, insurance premiums, car payments, and mortgage payments).
- Pre-authorized transfers (overdraft protection, transfer to Holiday Club, and transfer to checking account).
- TD Bank Online Banking and Telephone Banking transfers (debited from the money market or savings account).
- Request made by phone or fax for transfer (a request made my 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 other than the depositor (applies to Money Market accounts)
- Wire transfers
Please know that ATM and withdrawals from a Teller do not count towards your limit of 6 transactions per month.
Please review pages 6 & 7 of the Personal Deposit Account Agreement here: http://bit.ly/1kb17UQ for more information about this regulation.
If you happen to exceed the transaction limit during a statement period, you will be notified on the first two occurrences by letter via mail. Please note, on the third occurrence, Personal Savings are automatically converted to a transaction Savings account and you will be informed in writing of the changes. Depending on the original account type, this change may reduce the interest rate and earnings. Also, a fee may also be assessed if the transaction limit is exceeded; please see our current Fee Schedule at http://bit.ly/1cTejgt for more information.
We recommend contacting our 24/7 Banking Specialist at 888-751-9000 or visit your local TD Bank Store during lobby hours for additional information and assistance. To find a TD Store location near you, please visit: http://bit.ly/TDStores.
We hope this helps you manage your account, Anthony and have a good day.
Megan K, Mount Laurel
February 1, 2016 12:13:23 PM