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Bill Payment Processing Times

Description

These payments are processed as follows:

TD Canada Trust

Current dated Payment Processing

Date of Transaction	Posted to Account	Payment Preparation by TD Canada Trust begins	Payments Transmitted to Bill Company (or Designate)
Monday - Friday before 11:59 pm ET, (before 8:59 pm Pacific Time)	Immediately, dated the same business day.	Same business day after 11:59 pm ET	Next business day
Saturday- Sunday before 11:59 pm ET Sunday	Immediately, dated the next business day.	Sunday, after 11:59 pm ET	Next business day¹
Statutory holiday before 11:59 pm ET	Immediately, dated the next business day.	Same day, after 11:59 pm ET	Next business day¹

¹Visa payments posted between 11:59 p.m. ET Friday and 11:59 p.m. ET Sunday, or on Statutory holidays, are delivered with the next business day's payments, after the next business day's 11:59 p.m. ET cutoff.

Examples

1. If you pay your company's cable bill via Web Business Banking on a Thursday before 11:59 p.m. ET, (before 8:59 p.m. PT) the funds will be withdrawn from your company's account immediately, and the statement date will be Thursday's date, prepared for processing after the 11:59 p.m. ET cutoff, and forwarded to the cable company (or their designate) on Friday.


2. If you make the same payment on a Friday at or after 11:59 p.m. ET (8:59 p.m. PT), the funds will be withdrawn from your company's account immediately, and the statement date will be the next business day (Monday), prepared for processing after the Sunday evening 11:59 p.m. cutoff, and forwarded to the cable company (or their designate) on Monday.

Posted dated Payment Processing

You may postdate your company's Bill Payments, either 'one-time' or 'recurring', up to one year into the future. Postdated payments are subject to regular payment processing times outlined above.

To cancel a postdated payment, click on the 'View Pending Payments' tab on the left navigation bar, under 'Payments'. Click 'Cancel' next to the pending payment you wish to cancel.

Bill Payment Companies

Depending upon the bill company's payment processing system, most companies will update your company's account within two or three business days of receiving the payment from TD Canada Trust. However, regardless of when they update their system, most companies will recognize the transaction date recorded in your company's statement as the payment date for interest and/or penalty purposes. Other companies (like most credit card type companies) will use the business day they receive the payment from TD Canada Trust (i.e. the business day following the withdrawal date recorded in your company's account) as the payment date.

To minimize issues processing payments:

1. Always refer and adhere to the specific payment instructions outlined on your bill company's statement to you.
2. Paying bills at least one or two business days prior to the "due date" greatly assists billing companies by avoiding their high-volume processing days.