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Will td bank pay a bank draft for my mortgage if there is insuffient funds even though a direct deposit will go through in three days?
pam, lake city
October 31, 2017 09:42:46 AM
In reply to pam, lake city
Hi Pam. Thanks for reaching out to us.
TD Bank will sometimes approve check and ACH payments even if the balance is insufficient to cover the transaction. We do this as a courtesy to our Customers because we know how important bills such as mortgage payments and utility bills are and want to help make sure they're approved whenever we can.
Please know that the decision to approve these payments is made at the time they are received and is at the discretion of the bank. Because of this, we cannot guarantee that a payment will be approved if the balance is insufficient to cover it. There may also be an overdraft fee charged for each transaction that leaves the balance overdrawn more than $5.00. For up-to-date info on overdraft fees, we recommend reviewing the Personal Fee Schedule here: https://go.td.com/2kFZ5mK.
We want to make you are aware of a way to avoid overdrafts. TD Bank offers Savings Overdraft Protections. With this, you can link your checking account to an active savings account to serve as a form of overdraft protection. Available funds would be drawn from your savings account in the event that your checking account balance fell below $0.00. While we do not charge a fee for this service, there may be a fee charged when it is used. You can find more information about that fee using the link above. If you're interested in opening a savings account for this purpose or linking an existing account, please give us a call at 888-751-9000 or stop in to see us at a local TD Bank Store. There is a form that needs to be signed which we can provide to you in person or have mailed to you.
If you have any additional questions, please don't hesitate to give us a call 24/7 at 888-751-9000 or stop in to see us at any of our Stores. To find one near you, please click here: https://go.td.com/1nq31dc.
We hope you have a great day, Pam!
Candice A, Mount Laurel
October 31, 2017 09:43:11 AM