If I have TD Moneyline Overdraft Protection, do I still need TD Debit Card Advance SM ?
TD Moneyline Overdraft Protection allows us to automatically transfer funds from your line of credit to your linked checking account in order to cover transactions that would otherwise overdraw your checking account. However, if you don't have sufficient funds available in your line of credit, your ATM transactions and one-time debit card purchases may be declined. TD Debit Card Advance allows us to approve these transactions at our discretion, if you don't have enough money available in your TD Moneyline Overdraft Protection and linked checking account. Please read this Important Information about TD Debit Card Advance.
| Fixed rate interest charge | 18% APR 1 |
|---|---|
| Transfer fee | $10 per day 2 |
| Annual Fee | $25 3 |
1 Rate subject to change. A daily percentage rate of interest is assessed on advances from the date of the advance until the account is paid in full.
2 $10 Overdraft Protection Transfer Fee charged to the linked checking account each day funds are automatically transferred from TD Moneyline Overdraft Protection when an overdraft occurs. The transfer fee is waived on TD Student SM and TD Relationship SM Checking accounts.
3 Annual fee applies after the first year to new accounts opened after October 10, 2012. For additional information about fees, including transfer fees, please see our current Fee Schedule.
How much is automatically transferred from my TD Moneyline Overdraft Protection to cover overdrawn item(s) posted to my checking account?
TD Moneyline Overdraft Protection transfers to your linked checking account are made in the exact amount of the overdraft, plus the transfer fee.
If you do not have sufficient funds in your Moneyline Overdraft Protection account to cover the entire overdrawn balance plus the transfer fee, all available funds from your Moneyline Overdraft Protection account will still be transferred.
The transfer fee will be assessed to the linked checking account on the same day that the transfer is completed. Please see our current Fee Schedule.
Will I get a bill for TD Moneyline Overdraft Protection?
Yes. You will receive a TD Moneyline Overdraft Protection monthly statement and payment coupon in the mail.
Can I use my TD Moneyline Overdraft Protection account to make a purchase?
This account is for overdraft protection only - the line of credit cannot be used to make purchases directly. It's to cover overdrafts of your linked checking account, up to your available credit limit.