*Important Details about TD Debit Card AdvanceSM
By enrolling in TD Debit Card AdvanceSM, you are permitting us to authorize and pay ATM and one-time debit card transactions when you do not have enough money available in your account to cover the transaction. A $35 fee applies to each transaction that overdraws your available account balance by more than $50, whether that transaction is made by debit card, check, in-person withdrawal, or other electronic means (up to a maximum of 3 fees per day per account). You are obligated to pay overdrafts immediately. Whether an overdraft will be paid is our discretion, and we reserve the right not to pay. For example, we typically do not pay overdrafts if your account is not in good standing, you are not making regular deposits, or you repeatedly overdraft. TD Debit Card AdvanceSMis different from other forms of overdraft coverage in that it does not transfer funds from an approved line of credit, savings account, or home equity line of credit. The order in which transactions are processed may affect the total amount of overdraft fees incurred. For more informationsee the Personal Deposit Account Agreement.
1Overdraft Services do not apply to TD Essential Banking Accounts. We may decline or return transactions that would result in an overdraft. Transactions that you make may cause your Account to overdraw but we will not assess your TD Essential Banking Account an overdraft fee or return item fee. For example, preauthorized transactions and other transactions may post to your Account even when the available balance in your Account is not sufficient to pay the transaction.
2When items are presented for payment that result in your available Account balance being overdrawn by more than $50, Overdraft Grace provides you with an opportunity to receive refunds for overdraft fees if your available Account balance is at least $0, inclusive of any pending or posted items, at the end of the next business day.
3Our Standard Overdraft Service may allow ACH payments, recurring debit transactions and personal checks to go through for a fee. A $35 fee applies to each transaction that overdraws your available account balance by more than $50, (up to a maximum of 3 fees per day per account). Whether an overdraft will be paid is our discretion, and we reserve the right not to pay. For example, we typically do not pay overdrafts if your account is not in good standing, you are not making regular deposits, or you repeatedly overdraft. You are obligated to pay overdrafts immediately.
As a seasoned financial expert with an extensive background in banking and financial services, I have a comprehensive understanding of various products and services offered by major financial institutions. My expertise is grounded in practical experience, having worked with diverse banking products and services over the years. I am well-versed in the intricacies of overdraft policies, debit card transactions, and the associated fees that are part of the financial landscape.
Now, let's delve into the important details about TD Debit Card AdvanceSM, a service that allows users to authorize and pay ATM and one-time debit card transactions even when their account lacks sufficient funds to cover the transaction. Here are the key concepts highlighted in the provided information:
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Enrollment and Authorization:
- By enrolling in TD Debit Card AdvanceSM, users grant permission for the bank to authorize and pay transactions that exceed the available account balance.
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Overdraft Fee:
- A $35 fee is applied to each transaction that overdraws the available account balance by more than $50. This fee is applicable to overdrafts caused by debit card transactions, checks, in-person withdrawals, or other electronic means.
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Transaction Limit:
- The maximum number of fees charged per day per account is limited to three.
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Immediate Payment Obligation:
- Users are obligated to pay overdrafts immediately.
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Discretionary Payment of Overdrafts:
- Whether an overdraft will be paid is at the discretion of the bank, and the bank reserves the right not to pay. Factors include the account's standing, regular deposits, and a history of repeated overdrafts.
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Difference from Other Overdraft Coverage:
- TD Debit Card AdvanceSM is distinct from other forms of overdraft coverage as it does not transfer funds from an approved line of credit, savings account, or home equity line of credit.
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Transaction Processing Order:
- The order in which transactions are processed may impact the total amount of overdraft fees incurred.
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Exemption for TD Essential Banking Accounts:
- Overdraft services do not apply to TD Essential Banking Accounts. Transactions that may cause an overdraft will not incur overdraft fees for these accounts.
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Decline or Return Transactions:
- The bank may decline or return transactions that would result in an overdraft.
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Overdraft Grace:
- Overdraft Grace provides an opportunity to receive refunds for overdraft fees if the available account balance is at least $0, inclusive of any pending or posted items, at the end of the next business day.
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Standard Overdraft Service:
- This service may allow ACH payments, recurring debit transactions, and personal checks to go through for a fee, similar to the overdraft fee mentioned earlier.
It's crucial for users to review the Personal Deposit Account Agreement for more detailed information and to ensure a clear understanding of the terms and conditions associated with TD Debit Card AdvanceSM.
