Personal Finance

Locked: Anyone used their TD Line of Credit ( LOC ) as a chequing account?

  • Last Updated:
  • May 15th, 2015 12:41 pm
Tags:
None
Locked
May 15th, 2015 9:52 am
alanbrenton [OP]
Deal Expert
User avatar
Apr 21, 2004
56486 posts
21536 upvotes

May 15th, 2015 9:52 am

Anyone used their TD Line of Credit ( LOC ) as a chequing account?

It seems, TD does offer LOC cheques:
http://www.td.com/to-our-customers/tdhe ... =e00ba32c1

http://www.tdcanadatrust.com/products-s ... redit.jsp#
Convenient access
Access your credit through your TD Access Card1, cheques and EasyWeb online banking.

For RBC, only the first two LOC cheques are free of charge with subsequent cheques drawn from the LOC incurring $2 each.


Any one use their TD LOC as a chequing account? I plan to close our dormant investment accounts as well as our primary TD chequing if I can just drawn from the LOC using LOC cheques.

Thank you.
3 replies
May 15th, 2015 11:30 am
mapleleafdave
Deal Addict
User avatar
Jun 22, 2007
1387 posts
725 upvotes
London, ON

May 15th, 2015 11:30 am

banks-loc-account-can-best-used-free-ch ... t-1463101/

I havn't officially closed my TD chequing (minimum $3.95) account but I do transfer money into my LOC and pay all my bills from there to save transactions. Basically do it this way just in case I need in branch service. I have my Tangerine bank account set up so I can pull from the TD LOC as well. LOC is set up as 'savings' on my debit card for ATM access.

Only question I have. If I make a withdrawal from an ATM out of country on my LOC 'savings', is there a transaction fee charged on TD's end?
May 15th, 2015 12:29 pm
ToniCipriani
Deal Fanatic
User avatar
Jun 3, 2006
8661 posts
3834 upvotes
12 days north of Hop…

May 15th, 2015 12:29 pm

Me. No issues with mine, but I only used the cheques to set up the preauthorized debit for my condo fees and mortgage. All the other transactions are just bill payments.
May 15th, 2015 12:41 pm
angel_wing0
Moderator
User avatar
Mar 23, 2004
47193 posts
13373 upvotes
Markham

May 15th, 2015 12:41 pm

As it was posted above, there is already a thread on this. Therefore I will close this thread.

And yes, I do use my TD LOC as a chequing account after I closed AI.

Locked
Back to top
Top

Thread Information

There is currently 1 user viewing this thread. (0 members and 1 guest)

Trending Hot Deals