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Can I make up to 6 electronic transfers a month per each savings plans I have. If I have 3 savings plans can I make a total of 18 transfers 6 for each account into a checking account per month.
October 25, 2015 04:36:52 PM
In reply to Cheryl, Norfolk
Great question Cheryl,
We appreciate you asking about this regulation as we would like to help you avoid any fees.
The limit of six electronic debit transactions in a statement cycle for any Savings or Money Market accounts applies to each account individually. Each of your savings accountswould allow for six total debits of these types within a statement cycle. You can read more about this in our Personal Deposit Account Agreement at: http://bit.ly/1kb17UQ on pages 6-7.
Please note, if more than six (6) of these transactions are made during the statement cycle, your account will be charged $9.00 for the seventh (7) transaction and for each subsequent transaction.
The limitations on Savings and Money Market accounts include (but are not limited to):
1. Pre-authorized ACH – Automated Clearing House debits (health club fees, insurance premiums, car payments, mortgage payments, etc.).
2. Pre-authorized transfers (for example, overdraft protection, transfers to Holiday Club, transfers to checking account).
3. TD Bank Online Banking and Telephone Banking transfers (debited from the money market or savings account).
4. Request made by phone or fax for transfer
5. Wire transfers
Additionally, we recommend reviewing the dates of your Savings or Money Market statement cycle with a Banking Specialist, to ensure you're aware of the period during which you have six allowable transfers. Please call us anytime 24/7 at 888-751-9000, or you can stop in at a TD Bank Store near you. Feel free to check out http://bit.ly/TDStores for your nearest Store location.
We certainly hope this helps, Cheryl.
All the best to you and have a great evening!
Kristen P, Mount Laurel
October 25, 2015 04:40:09 PM