Canada TD Bank Class Action Settlement: Customers who were charged overdraft fees for transaction that were approved when they had a positive balance and later paid when they had an insufficient balance.bThe TD Bank Class Action Settlement offers consumers who were wrongfully assessed overdraft fee a vital chance to obtain reimbursement. Your portion of the $32.2 million settlement can be claimed by submitting a claim form for former customers or by automatic deposit (for current customers) if you meet the eligibility requirements.
Know about the Class Action Settlement for TD Bank
The claims that TD Bank incorrectly assessed overdraft fees are at the heart of the class action lawsuit. Customers were specifically charged fees for transactions that were approved when their account balance was positive but were subsequently processed when it was not enough to cover the transaction.Overdraft fees can mount up quickly, putting people in needless financial hardship, especially those with limited resources.
- Customers impacted by these unfair practices will receive compensation from TD Bank as a result of the settlement of this case.
- It’s a big win for customers and emphasizes how crucial it is that banking fees be transparent.
- Additionally, the settlement makes it abundantly evident to other financial institutions how important transparent and equitable fee policies are.
Eligibility Requirements: How Can You Tell Whether You Qualify for Compensation?
You must fulfill the following requirements in order to be eligible for the TD Bank class action settlement:
- From June 27, 2019 to September 30, 2022, you had a personal checking account with TD Bank.
- Debit card transactions that were approved when your account’s available balance was positive but settled when it became insufficient resulted in one or more overdraft fees.
What Does the Settlement Cover?
All eligible claimants will receive a portion of the $32,225,000 settlement. How long you were affected by the practice, how many legitimate claims you filed, and the overdraft fees you incurred will all affect your compensation. If you’re a current TD Bank customer and you qualify, you’ll get paid without having to file a claim. You must fill out a claim form if you were a customer of TD Bank in the past in order to guarantee that you get paid.
Procedureto File a Claim for the Class Action Settlement at TD Bank
Step 1: First of all, you must have to verify your eligibility.
Step 2: There is no need for a claim form if you are an existing TD Bank customer. Your TD Bank account will receive a direct deposit of the settlement sum.
Step 3: After that, you must submit a claim form if you were a customer of TD Bank in the past. Make sure your information is current by filling out the form on the official class action settlement website.
Step 4: Then, you have to monitor your payment status.
Step 5: After that, you have to visit the official website of the TD Bank Class Action Settlement for more information or for latest updates.
