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Hello. My husband and I run an electrical business and have a business account at a different bank. We were just paid by a customer for a very large project and tried to deposit it at our bank. They said that, because the check deposited exceeded $5000, the availability of the remaining would be delayed for 6 business days. Is this standard practice at all banks, including TD Bank? Do you have a certain policy in matters like this and what is it?
Leigh, Port Orange
October 22, 2014 08:11:14 AM
In reply to Leigh, Port Orange
Thanks for coming to us here on TD Helps, Leigh. We'll be certain to go over any questions you may have regarding deposits.
Typically, when you make a check deposit at TD Bank, the first $100 is made available immediately, however; 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. Please note, check deposits totaling more than $5,000.00, the first $200 will be made available no later than the first business day after your deposit. For more information on our funds availability, please see here: http://bit.ly/1kb17UQ to view our Personal Account Agreement (pages 35-37 for more details).
If you have any further questions, you are more than welcome to connect with us at 888-751-9000 to speak with a Banking Specialist or you may stop by any TD Bank location during lobby hours. Please visit: http://bit.ly/TDStores to find a TD Bank near you. You may also reply back if you have any additional questions.
We hope this helps, Leigh. Have a great one!
Elizabeth D, Mount Laurel
October 22, 2014 08:14:58 AM