CUSTOMERS have saved heaps of cash on their TD Bank deposits by making some simple cost-cutting moves.
TD Bank, the 11th largest US bank by assets, charges depositors monthly if their account doesn’t exceed a certain amount.
TD Bank customers with Convenience Checking accounts can easily avoid a monthly $15 charge.
Customers can open a zero-interest Convenience Checking account without depositing any money in the bank – but they may want to put some cash in before month’s end.
The bank charges customers with less than $100 worth of deposits in their account at the end of each month.
The company calls it a “monthly maintenance fee.”
Customers who keep more than $100 in their account will not be charged.
Customers between ages 17 through 23 can also waive the fee.
A TD Bank representative did not immediately respond to a request for comment.
OTHER TD WAYS TO SAVE
TD Bank customers have several ways they can transfer money for free.
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The bank does not charge for standard online transfers to other accounts – including other TD accounts, external bank accounts, or Zelle payments.
TD charges Convenience Checking customers for ATM withdrawals, transfers, and balance inquiries at non-TD ATMs.
Each transaction on another bank’s ATM will set depositors back an additional $3.
“Additionally, the institution that owns the terminal
(or network) may assess a fee (surcharge) at the time of your
transaction, including balance inquiries,” the company wrote.
TD also charges Convenience Checking customers overdraft fees whenever depositors overdraw $50.
Each overdraw transaction over $50 will cost depositors $35 extra.
“If your available account balance is overdrawn by $50 or less, you
will not be charged overdraft fees,” TD wrote.
“If you overdraw your available account balance by more than $50,
and you make a deposit to bring your available account balance
back to at least $0 by 11pm ET the next business day, we will
refund the overdraft fees that were assessed to your account for
those items.”
OTHER BANK SURCHARGES
Bank maintenance fees are common across the US banking industry.
Bank of America charges a similar $25 a month surcharge for customers with combined balances less than $10,000 each month.
The bank also charges checking account customers a $30 fee to stop a payment.
Citibank charges customers who fail to pay their monthly credit card bills on time.
The bank will tack on an extra $41 for late fees.
The U.S. Sun reports on other surcharges – here is one that banks are trying to eliminate for consumers.
Also, here are four cards that refund pesky ATM charges.
Source: the-sun.com
