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New And Higher Fees At TD Bank

Thursday, November 3, 2011 - 5:39 AMTD Bank, National Association - Details
TD Bank informed customers of new and higher bank fees. This CNNMoney.com article reports on these fees that take effect in December:
Receiving a wire transfer will now cost $15, up from $10. Getting a certified check will come with an $8 fee, up from the current $4 charge. Money orders will cost $5, instead of $4, and stop-payment fees will run $30, up from $25.

There's also a new $9 fee when customers exceed 6 withdrawals per statement cycle from savings accounts. This 6-per-month limit on savings and money market accounts is imposed by Regulation D (see post).
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Ken TuminKen Tumin5,469 posts since
Nov 29, 2009
Rep Points: 125,077
1. Monday, November 7, 2011 - 6:26 AM
TD Bank has issued a news release in response to this CNNMoney article about its new Savings Account/Money Market Excess Withdraw/Transfer Fee that takes effect in December. Here are some important excerpts from the news release:
  • This fee does not apply to any TD Checking accounts.
  • Federal Regulation (Regulation D) limits the number of electronic withdrawals or transfers from a Savings or Money Market account to six per month to discourage Consumers from using a Savings or Money Market account like a Checking account.
  • Customers who exceed six electronic transfers or withdrawals from a Savings/Money Market account will incur the fee with the seventh transaction. The transactions under this limitation include: online, phone, check, automatic transfers and bill payments.  Again, ATM or Teller transfers or withdrawals do not count towards this limit, nor do any deposits.
  • Most banks and credit unions already charge a fee after six transactions to discourage Consumers from using a Savings or Money Market as the main transaction account. If a customer continues to violate the limit, after bank notification, the bank is required by law to close the account or reclassify it as a Checking account.
1
Ken TuminKen Tumin5,469 posts since
Nov 29, 2009
Rep Points: 125,077
2. Wednesday, May 30, 2012 - 8:56 AM
good I like it ..............
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andreanackandreanack1 posts since
May 30, 2012
Rep Points: 1
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