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I have searched extensively on the TD Bank web site for an answer.What is a Bump Rate? Which account receives the increase or decrease in the rate?
If you have a written explanation, please send me the text of that explanation.
Matthew, Jamaica NY
April 2, 2015 06:52:10 AM
Saving & Managing Your Money
3 people recommended this |
In reply to Matthew, Jamaica NY
Hey Matthew, welcome to TD Helps. We'd be happy to clear this up for you.
Some accounts offer an opportunity to earn a higher than standard interest rate when linked with another eligible account; this is noted as a "Rate Bump." Please take a look here to view our current Checking accounts that may offer this benefit: http://bit.ly/Wczmq0. Or, you may view our Savings accounts that offer this benefit here: http://bit.ly/1l6nLQ7.
For an example of an account with this feature, please locate our TD Relationship Savings account through the link above. You can see that currently this account offers a "Rate Bump" when linked with a Mortgage Loan, Home Equity Loan, TD Credit Card, or active TD Checking Account that you have with us. If you have these accounts with TD and are eligible for this, you may reach out to a Banking Specialist 24/7 so that we may link the accounts and provide you with an extra Rate Bump. This would increase the rate of interest that you receive on the product that lists the "Rate Bump" as a benefit. In this example, you would earn more interest on the Relationship Savings account than would normally if it was not linked to another product that you have with TD.
To explain this in more detail or to review any accounts that you have with TD to determine if they are eligible for this Rate Bump, please connect with us 24/7 at 888-751-9000. After account verification, we'd be happy to help. You may also visit your local TD Store for additional assistance here: http://bit.ly/TDStores.
Please understand that although we would like to assist you directly, we do not have access to your account information as TD Helps is considered an unsecured forum.
Thank you and we hope this helps Matthew.
LiShu R, Mount Laurel
April 2, 2015 06:53:35 AM
In reply to LiShu, Mount Laurel
I realize this is an older question but are the tiered balances specific to the account receiving the rate or to the combined balance of both it AND the linked account? In other words, if the tier for a rate is $15k - $24,999 and there's $14k in the savings and $2k in the linked checking, would the rate associated with that tier be paid or would it be the tier below it?
August 17, 2017 09:03:01 AM
In reply to Casey, Beverly
Good morning, Casey, and thanks for joining in on the conversation today!
At this time, the specifics for each rate bump may vary based on the account you may be referring to, and because of this, we ask that you contact us directly so that we may better assist you with your questions and concerns.
Banking Specialist are available 24 hours a day, 7 days a week, at 1-888-751-9000, and they'll be more than happy to help! A Customer Service Representative will also be happy to answer any questions you may have at your local TD Store location, and we invite you to use the link here: http://go.td.com/1f9DSJR to find your nearest location.
If you already have an account with TD Bank, and are signed up for Online Banking, you may also send a Secure Message for further assistance with your concerns. To send a secure message, you will first want to log into your TD Bank online profile by clicking here: https://go.td.com/1eaISlq. Once you've successfully logged in, look for the 'Message Center' on the left hand side and select 'Send a secure message'.
If you have downloaded our mobile banking app for your smartphone, you may also use this method to send a secure message. From your Mobile Banking, log in and select 'Send a Secure Message' from the side Menu. We generally respond within 24 hours or less.
We hope this helps, Casey! Take care.
Brittany M, Mount Laurel
August 17, 2017 09:03:20 AM