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I put a check into my savings on Saturday and it says that it has been pending. My available balance has not changed because it is still pending. What does pending mean in this case? Has the check not been cleared?
June 8, 2015 05:08:09 PM
In reply to Sara, Boonton
Hi there Sara,
Thanks for getting in touch with us and sorry to hear about any confusion with your deposit. We understand that can be frustrating and we're sure you'd like to use your funds. We'll be glad to explain.
You mentioned that you made your deposit on Saturday. A business day is every day except Saturdays, Sundays, and Federal holidays. When making a deposit on a non-business day such as a Saturday, we will consider that deposit to have been made for the following business day. For weekend deposits, this usually means that the deposit will be considered Monday's deposit and will post to your account Tuesday. Because we have not yet closed Monday's business day, your deposit is currently listed as "Pending." The funds should become available for withdrawal on Tuesday, and you are more than welcome to verify this with one of our Representatives. We're available by phone 24/7 at 888-751-9000, or at any of our Stores: http://bit.ly/TDStores.
Exceptions can also occur which can cause delays in funds availability. For example, if you are a new account holder and your account has not been open for 30 consecutive days, check deposits can be held for up to 7 business days for verification purposes. We invite you to look at our Personal Deposit Account Agreement here: http://bit.ly/1kb17UQ. On pages 38-41 you can find our Funds Availability Policy along with information about when you'll have access to deposits.
We hope this helps a bit in clearing this up, Sara.
Hoping you have a wonderful night.
Kristen P, Mount Laurel
June 8, 2015 05:11:33 PM