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I have a paycheck from work, was wondering if I deposit it if the funds will be available right away or if I have to wait?
Tyler, Bolton Landing, NY
December 9, 2014 07:42:03 PM
In reply to Tyler, Bolton Landing, NY
Thank you for joining us on TD Helps, Tyler. We'd be happy to go over when your check will clear.
Knowing when your funds will be available is very important for account management.
The type of deposit you make determines when the funds will be available. Direct Deposits are available on the same business day that they are credited to your account, even while they are in a pending status. Similarly, Cash Deposits made with a Teller are also made available the same business day for your use.
Check Deposits work a little differently, when you deposit a check, the first $100 is made available right way. If you are a new account holder and your account has not been open for 30 consecutive days, Check Deposits can be held for 7-10 business days for verification purposes. After this grace period, not only will the first $100 be made available at the time of deposit but the rest of the funds will credit to your account the following business day.
If you make a deposit through the ATM, either cash or check, the first $100 dollars is credited immediately while the remainder of your deposit will be applied to the balance on the following business day. Unlike the ATM, the Mobile Deposit feature does not credit any funds initially. The funds will be credited on the following business day.
To read the Funds Availability Policy and other important details, please visit http://bit.ly/1kb17UQ (page 38-41).
If you have any questions about your specific deposit, we ask that you contact us directly either by calling us 24/7 at 888-751-9000 or by visiting a TD Store during lobby hours. For hours and locations near you please visit http://bit.ly/TDStores.
We hope this helps, Tyler and have a great day.
Megan K, Mount Laurel
December 9, 2014 07:42:48 PM