Personal Credit

Overdraft Protection

Get Peace of Mind with TD Canada Trust Overdraft Protection

From time to time, even the most careful people may have a transaction declined or a cheque returned because they don't have sufficient funds available in their account. Overdraft Protection is convenient, affordable, and one of the easiest and most reliable ways to ensure that funds are always available to cover cheques and automated banking machine (ABM) transactions or Interac Direct Payment purchases*.

Overdraft Protection makes funds available if and when you need them, like a financial safety net. Once you have been approved, and subject to the terms of the Overdraft Protection Agreement, if you run short of funds, Overdraft Protection will be there to cover you up to your approved limit, which could be as high as $5,000.

You can avoid the inconvenience and cost of dealing with NSF charges by choosing one of the following Overdraft Protection options.

TD Canada Trust Overdraft Protection

Security and peace of mind for a low monthly banking overdraft fee^**

• Our most popular option, this protection costs just $3 a month. A full year’s coverage costs less than the fee for just one NSF cheque.
• If you write a lot of cheques and frequently maintain a low balance in your account, this solution may be best for you.

TD Canada Trust Pay-As-You-Go Overdraft Protection

For occasional users

• If you don't anticipate more than an occasional need for overdraft protection, this solution may be best for you. The most you'll ever pay in one day for banking overdraft fees is $5, regardless of the number of transactions covered by your overdraft that day.

Please note that all overdrafts must be paid within 89 days, are subject to an interest rate of 21% per annum on the overdrawn amount, and subsequent deposits to your account will automatically be applied to pay off the overdraft.

Another financial tool to consider to ensure that you always have the flexibility to access additional funds is a Line of Credit. Once you've qualified to use a line of credit and subject to the terms of the Line of Credit Agreement, you are provided with a credit limit and are free to access the funds at any time and for any purpose.

TD Canada Trust Line of Credit

Our Line of Credit gives you automatic access to cash whenever and wherever you want it, at competitive interest rates. If you don't have what you need in your regular bank account, simply access any amount you want (up to your credit limit), any time you want.

It's easy to access

• Write a Line of Credit cheque
• Make cash withdrawals at TD Canada Trust branches
• Add your Line of Credit to your TD Canada Trust Access Card and use it at merchants and ABMs worldwide
• Transfer funds from your Line of Credit using EasyLine telephone banking or EasyWeb Internet banking

A TD Canada Trust Line of Credit can also help you take advantage of life's opportunities. Once you open your Line of Credit, the funds are available to you for any other opportunity. So when you want credit for a major purchase, a vacation, a home renovation, or any other purpose, you don't have to reapply.