Your Saving Grace: Overdraft Protection From TD Bank

This post is sponsored and contributed by TD.
Member FDIC, TD Bank N.A.

Overdrafts can happen to even the most careful of us. That’s why it’s so important to have a bank that wants to protect you and your money, and help you avoid fees.

TD Bank offers overdraft relief, including extra time to fix the overdraft and additional services to help avoid fees.

What Is TD Overdraft Relief?

An overdraft occurs when the money available in your account is too low to cover a transaction. Some financial institutions, like TD Bank, offer overdraft services that give you until 11 p.m. ET the next business day to transfer money into your account. When life happens, a little extra time can mean a lot of extra relief.

TD Overdraft Relief, which is available for most TD checking accounts, guarantees no fee if you overdraw by $50 or less. It also deposits your money before any withdrawals are made that day, limits the number of overdraft fees in a day to three.

How Does TD Bank’s Overdraft Grace Period Work?

If your TD Bank Checking account is overdrawn by more than $50 by the end of the business day, you’ll enter a grace period. If you can bring your available balance back to zero by 11:00 p.m. ET the next business day, you can get the overdraft fee refunded.

You can use the TD Bank app, visit a local branch, use direct deposits or make an in-store deposit to bring your negative balance back to zero and have the overdraft fee refunded. In some cases, TD will not make all the funds that you deposit by check available at the times shown in this Policy. Depending on the type of check you deposit, funds may not be available until the second (2nd) Business Day after the day of your deposit. Unless there is a hold placed by Fraud, the first $225 of your deposit will be available no later than the first (1st) Business Day after the day of your deposit.

TD Bank’s Policies To Avoid Overdraft Fees

TD Overdraft Relief gives customers more flexibility to ensure they can reach their financial goals and build confidence in banking. Discover the ways TD Bank’s services help customers avoid overdraft fees:

No fees for non-sufficient funds. TD Bank won’t charge customers a fee for non-sufficient or insufficient fund transactions — for example, if someone cashes a check you’ve written them but there’s not enough in your personal checking account to cover it.
Credits before debits on the same business day. TD Bank will apply deposits to customers’ account balances before any withdrawals are made, enabling better money management and potentially avoiding overdrafts.
No fees for additional overdraft protection. If customers opt to add Savings Overdraft Protection (which automatically transfers cash from a linked savings account to cover an overdrawn checking balance), TD Bank won’t charge a transfer fee.
Only three overdraft charges a day. TD Bank limits its daily overdraft charges to three overdraft fees per day per account.

Overdraft Options

Life is about balance, and TD Bank knows one solution won’t work for every customer. TD Bank customers have multiple overdraft options, including:

Additional overdraft options. In addition to TD Overdraft Relief, TD Bank offers other solutions like TD Debit Card Advance, which allows the bank to authorize and pay a one-time debit card or ATM transaction when you opt into the service. You can also take advantage of Savings Overdraft Protection by linking your checking account with your savings account to cover transactions up to your combined available balance.
TD Bank’s online tool. If you’re not sure what overdraft solution will fit your bank account and spending habits, try TD Bank’s product selector. It walks customers through an easily understandable suite of benefits to help you choose which makes the most sense for your life.

TD Bank’s Overdraft Protection: Unexpectedly Human

TD Bank treats overdrafts in an Unexpectedly Human way for a financial institution. Its policies realize that people have overdrafts — and instead of “nickel and diming” customers, TD Bank affords extra time to fix the mistake and avoid fees.