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

• https://www.bankofamerica.com/online-banking/zelle-transfer-limits/