CHERRY HILL, N.J., Nov. 3 (UPI) -- TD Bank has announced a new fee for savings accounts, one already charged by other large U.S. banks, and is increasing four existing fees.
The move comes at a time when several banks have backed off plans to charge fees to customers who use their debit cards to make purchases. The changes at TD Bank will be effective in December, CNN reported Wednesday.
Under the new fee schedule, savings account customers who make more than six withdrawals or transfers from their savings accounts in a billing cycle will pay $9 thereafter for each online transfer from savings to other accounts, and for phone and debit card withdrawals.
The bank is increasing the charge for incoming wire transfers from $10 to $15. Certified check fees will double to $8, the cost of money orders will rise from $4 to $5 and stop-payment orders, now $25, will rise to $30.
A spokeswoman, Rebecca Acevedo, said TD considered customer feedback before deciding on the changes.
"With that, we modified peripheral fees that small groups of customers pay infrequently and we are educating them on how to avoid the fee," she said.
