TD Bank Settlement 2024: What You Need to Know

Juilia Ruskin
3 Min Read

If you’re a TD Bank customer, you might be eligible for some money back due to a class action lawsuit. This settlement is happening because TD Bank was accused of charging customers unfair fees. Here’s everything you need to know about the TD Bank Settlement 2024, including who is eligible, how much you can get, and how to claim your share.

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Understanding the TD Bank Class Action Settlement

A class action lawsuit was filed against TD Bank in 2021. The complaint said that TD Bank charged multiple non-sufficient funds (NSF) fees on a single check or payment without properly notifying customers. NSF fees are charged when a bank account doesn’t have enough money to cover a transaction.

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Settlement Details

To settle this lawsuit, TD Bank has agreed to pay $15.9 million. This settlement is still waiting for court approval, which is scheduled for February 13, 2024. If approved, TD Bank will directly deposit money into the bank accounts of eligible customers.

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Eligibility for the Settlement

You might be eligible for a part of the settlement if you:

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  • Are a Canadian resident.
  • Have or had a personal deposit account at TD Bank.
  • Were charged NSF fees on pre-authorized debit transactions between February 2, 2019, and November 27, 2023.
  • Have an open account during the settlement distribution period.

How Much Will You Get?

If the court approves the settlement, each eligible customer will receive approximately $88. This money will be directly deposited into the bank accounts of those who qualify.

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Key Dates

  • Class Action Hearing Date: February 13, 2024
  • Deadline to Object to the Settlement: January 26, 2024

How to Claim Your Share

If you meet the eligibility criteria, you don’t need to do much. TD Bank will automatically deposit the settlement amount into your bank account if the settlement is approved.

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The TD Bank Settlement 2024 is a significant event for many TD Bank customers who were unfairly charged NSF fees. If you think you qualify, make sure to stay informed about the settlement approval and look out for the deposit in your bank account.

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1. What is the TD Bank Settlement about?

The settlement is about TD Bank charging multiple NSF fees on a single payment without proper notification to customers.

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2. How much is the settlement amount?

The total settlement amount is $15.9 million.

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3. Who is eligible for the settlement?

Canadian residents who had personal deposit accounts at TD Bank and were charged NSF fees between February 2, 2019, and November 27, 2023.

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4. How much money will eligible customers receive?

Eligible customers will receive around $88.

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5. When will the settlement be finalized?

The court hearing to approve the settlement is scheduled for February 13, 2024.

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