TD Bank Settlement 2024, Claim Form, Deadline, Eligibility and Amount!

On Feb 13, 2024, an Ontario judge greenlit a $15.9 million settlement in a class-action suit against TD Bank. The claims revolved around alleged improper multiple NSF fees in a single transaction. The deadline to file claims is May 13, 2024.

TD Bank Settlement 2024

TD Bank has reached a $15.9 million settlement in a class-action lawsuit regarding non-sufficient funds (NSF) fees. The lawsuit, filed in 2021, alleged that TD Bank unlawfully charged customers multiple NSF fees on a single payment or cheque. 

Canada Carbon Rebate

State Pension Age Waspi Female Payout

The settlement, approved by the Ontario Superior Court of Justice, will provide eligible customers with approximately $88 per account.

The class action includes Canadian residents who held personal deposit accounts with TD Bank and were assessed NSF fees on pre-authorized debit transactions between February 2, 2019, and November 27, 2023.

TD Bank Settlement 2024 Eligibility 

To receive TD Bank canada shareholder settlement, the following eligibility criteria needs to be met:

Potentially Eligible:

  • Canadians who currently hold or previously held a personal deposit account with TD Bank.
  • Customers who were charged Non-Sufficient Funds (NSF) fees on a pre-authorized debit transaction between February 2, 2019, and November 27, 2023. This includes situations where:
    • A merchant re-presented a declined pre-authorized debit, leading to a second NSF fee.
    • You paid multiple NSF fees on a single pre-authorized debit transaction that was processed multiple times due to system errors or other technical issues.
  • Customers who facilitated a TD Cash Secured Credit Card on or after 2015, but before January 18, 2022, may also be eligible for rewards from the class action settlement

Uncertain Eligibility:

  • It’s unclear if customers with closed accounts or who switched banks will be eligible.
  • The specific circumstances leading to double-charged NSF fees might influence eligibility.

Claiming TD Bank Settlement 2024  

To file a claim for the TD Bank Canadian

Shareholder Settlement, follow these steps:

  • Visit the official website of the settlement at https://www.tdbankcanadianshareholdersettlement.com/in-ca/Claimant/ClaimForm.
  • Complete the claim form provided on the website.
  • Ensure all the required information is accurately filled out.
  • Submit the claim form as per the instructions provided on the website.

Additionally, for the TD Bank Canadian Shareholder Settlement, the claim deadline is May 13, 2024.

Eligible individuals can complete the claim form and upload the supporting documentation on the Administrator’s website at https://www.tdbankcanadianshareholdersettlement.com/ or by contacting the Administrator directly.

What is the amount of payment that each eligible class member will receive from the TD bank settlement 2024?

Eligible customers for the TD Bank settlement 2024 will receive approximately $88 per account if the court approves the settlement on February 13, 2024. 

  • The settlement fund is $15.9 million, and TD Bank will directly deposit the compensation into eligible customers’ bank accounts if the court approves the settlement. 
  • The exact amount of the payment will depend on the number of Participating Settlement Class Members and the amount of additional NSF fees they incurred. 
  • The minimum award will be $2, with a possible additional amount for each Participating Settlement Class Member who incurred more than one NSF fee. 
  • The settlement requires TD Bank to pay money to the Settlement Class, as well as settlement administration expenses, attorneys’ fees, costs to Class Counsel, and a service award of up to $7,500 for each Class Representative.
  • The settlement is part of a broader effort to address predatory banking practices and reduce or eliminate NSF fees. 

Many banks have already moved to eliminate the fees due to pressure from regulators, while advocates are also pushing to reduce them or do away with them entirely.

How long does it take to receive TD bank canadian shareholder settlement after filing a claim ?

After filing a claim for the TD Bank Canadian Shareholder Settlement 2024, it typically takes 13 months for eligible claimants to receive their compensation. 

  • The TD Bank Canadian Shareholder Settlement 2024 does not explicitly provide a specific timeline for payment receipt after the settlement approval. 
  • However, the receipt of compensation after filing a claim and meeting the approval of the settlement is expected to take 13 months for eligible claimants to receive their settlement payment after the settlement approval. 
  • The claim form is expected to be submitted for the TD Bank Canadian Shareholder Settlement 2024 by May 13, 2024. 
  • The settlement is directed to all persons and entities, other than Excluded Persons, who during the Class Period (December 3, 2015, to March 9, 2017), acquired TD Securities on the secondary market other than a United States exchange, and held some or all of those Securities until the close of trading on March 9, 2017 (or thereafter).
  • The TD Bank Canadian Shareholder Settlement 2024 does not explicitly provide a timeline for compensation receipt after the settlement approval.

 Go to investbihar Homepage To Get Relevant Content.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top