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• Mar 13, 2023

CHERRY HILL, N.J., March 13, 2023TD Bank, America's Most Convenient Bank®, today announced additional enhancements to its overdraft policies and services that are planned to be rolled out in the second half of 2023.

Over the last two years, TD has made significant adjustments to its overdraft policies, TD Overdraft Relief. During that period, TD reduced the maximum number of overdraft fees charged per day from five (5) to three (3), increased the overdraft threshold to $50, updated posting order to prioritize credits before debits, eliminated both non-sufficient fund fees and savings overdraft protection transfer fees, and introduced a next-day grace period providing customers extra time to bring their account back to positive. In 2021, the bank launched TD Essential Banking, a low-cost, no-overdraft-fee deposit account certified by BankOn to provide even greater flexibility to customers by allowing them the option to avoid incurring any overdraft fees.

"TD is committed to evolving and delivering products and services that provide our customers with greater value, flexibility, and control in helping them to better manage and potentially avoid overdrawing their accounts," said Matt Boss, Head of Consumer Product, TD Bank. "We continue to act on the insights and feedback from our customers to introduce enhancements to our policies that matter most to them. We're proud of the progress we’ve made to date."

The new round of enhancements planned for the second half of 2023 will include the following benefits:

  • Real-time balance threshold as well as our overdraft grace period alerts for our customers to help them better manage their money.
  • Elimination of returned deposit items and additional fees for consumer savings accounts.
  • Update our transaction processing to help avoid additional overdraft fees due to timing.
  • Introduce new solutions to support customer's liquidity needs including early access to pay.

TD data shows that these policy changes to date are having a positive impact for millions of customers. Each month more than 500,000 TD customers avoid one or more overdraft fees due to TD Overdraft Relief. TD distributed nearly 2,000,000 communications to customers in the past 18 months, helping customers take full advantage of their accounts by avoiding potential fees. And it's working, as TD customers have saved more than $420 million in overdraft fees since August 2021.

"We're pleased to see the positive customer impacts that these overdraft policy changes and enhancements are already having and will always continue to identify opportunities to improve our product and service offerings to provide greater value to our customers," added Boss.

In addition to new enhancements for 2023, TD continues to build out financial education resources, services and tools are designed to help customers take full advantage of their accounts and avoid future potential fees.

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 9.9 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:

PJ Brovak
(609) 647-4417

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