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today | 2023-05-26

Taking the money out of the bank is a pain.

  • ACH push to a different bank takes 3 business days.
  • Transfer limits from TD Bank checking
    • per transfer - $2,500
    • daily - $3,000
    • rolling 30-day limit - $5,000
  • Transfer limits from TD Bank savings
    • per transfer - $2,500
    • daily - $3,000
    • rolling 30-day limit - $5,000

From the customer service reps → tech department:

  • It is not possible to override these limits.
  • TD bank uses Fiserv to do the external transfers.
  • Fiserv is not same as ACH.
  • You cannot do ACH transfers from their website.

today | 2023-07-26

Depositing money into the account is also painful.

  • Deposited a check on 7/20 (Thu). It was pending asof 7/27 (Thu) and got cleared on 7/28 (Fri). Apparently, they hold the funds for 6 business days.
  • Compare this with Capitalone where it takes 1-2 business days for the funds to be fully available. Deposited a check on 7/17 (Mon) and it was fully available on 7/19 (Wed).

today | 2023-09-13

Receiving money via Zelle is very restrictive.

  • My friend tried to transfer $3,500 via Zelle from a BofA account to my TD Bank checking account. It failed. We are not sure why.

The restrictions on the TD Bank side are

  • outgoing transfer limits: \$1,000 same day transfer (\$5000 per month), \$2,500 next day transfer (\$10,000 per month).
  • incoming transfer limits: None.

source: TD Bank customer service reps

The restrictions on the BofA side are

td_bank_notes.txt · Last modified: 2023/09/13 16:19 by raju