Overdraft Protection

Overdraft Protection Options

Prepare for the unexpected. Here are your Overdraft Protection options if you have a TD chequing account or decide to open one. Fees are based on the type of overdraft protection service you add to your chequing account. The Overdraft Protection service prevents Non-Sufficient Funds (NSF) charges from occurring and is generally less than a Non-Sufficient Funds fee (NSF).

Monthly Overdraft Protection

$4 per month
One low monthly fee regardless of how often you use overdraft (plus 21% interest per year on overdrawn amount)

Pay As You Go Overdraft Protection

(Not available on chequing accounts in the province of Quebec)
$5 per use
Only pay when you use overdraft. The most you’ll pay in one day is $5, plus 21% interest per year on overdrawn amount

How does the Overdraft Protection service work?

Overdraft Protection can help you avoid declined transactions, late payment charges on your statements and bills, and non-sufficient funds fees. It helps you manage your finances by allowing you to complete a transaction.

If you withdraw more than you have in your account, within your overdraft limit, the account incurs a negative balance. You can pay your outstanding overdraft balance by making a deposit into your account with the Overdraft Protection service.

Overdraft protection interest rates

Overdraft protection is subject to approval and approved limits, interest rates and repayment conditions.
  • First, you need to be approved for overdraft protection. Apply now – it only takes a few minutes
  • Overdrafts are subject to an interest rate of 21% per annum
  • Deposits are immediately and automatically applied against the overdrawn balance
  • Overdrawn balances must be paid within 89 days
  • Overdraft interest rates are subject to change
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