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• Oct 11, 2022

CHERRY HILL, N.J., October 11, 2022TD Bank, America's Most Convenient Bank®, announced additional enhancements to its overdraft policies and services. These changes will offer even greater value to customers and help them better manage their accounts and avoid potential overdraft fees. The latest enhancements come after TD Bank, earlier this year, introduced TD Overdraft Relief, increasing the overdraft fee threshold from -$10 to -$50 and decreasing the number of possible overdraft fees per day from five to three for personal customers.

The new round of enhancements includes the following benefits:

  • TD Grace Period provides flexibility for customers after overdrawing their checking accounts. If a customer's available balance is overdrawn by more than $50, they now have until 11 p.m. ET the next business day to bring their balance back to $0 or above to avoid overdraft fees.
  • Elimination of transfer fee for overdraft protection services.
  • Elimination of non-sufficient funds (NSF) fees for personal customers.
  • Deposits are applied to a personal customer's available account balance before any withdrawals made the same business day.

"These enhancements to TD Overdraft Relief are the next step in evolving our product offerings," said Matt Boss, Head of Consumer Product, TD Bank. "They provide our customers with greater value, as well as flexibility to help them better manage and potentially avoid overdrawing their accounts. We continue to listen to our customers and look for opportunities to improve our product and service offerings, as we also evolve and expand our educational resources. A more informed and empowered customer makes for a happier customer, especially when provided with the type of value signified by these changes."

Last August, TD also introduced TD Essential Banking, a low-cost, no-overdraft-fee deposit account that is helping nearly 40,000 customers establish a more secure, inclusive, and sustainable financial future.

In addition, TD provides customers with financial education-based messaging across email, text, and push for new-to-bank and existing customers who have overdrawn their account. These education resources, services and tools are designed to help customers take full advantage of their accounts and avoid future potential fees. TD continues to build out financial education resources and plans to roll them out more broadly in 2023.

"Acting on the insights we've gathered from our customers, we've found that providing timely financial information and resources to our customers is helping them adopt better financial habits, which should help to reduce the likelihood of overdraft activity in the future," Boss said. "These insights are helping us to validate our approach of implementing meaningful enhancements in our overdraft policies and services that are based on data and direct feedback from our customers."

About TD Bank, America's Most Convenient Bank®

TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing over 9.8 million customers with a full range of retail, small business and commercial banking products and services at more than 1,100 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Auto Finance, a division of TD Bank, N.A., offers vehicle financing and dealer commercial services. TD Bank and its subsidiaries also offer customized private banking and wealth management services through TD Wealth®. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit Find TD Bank on Facebook at and on Twitter at and  

TD Bank, America's Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD". To learn more, visit

Media Contact:
Catherine Achey
(443) 682-2309

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