1) What is Simply Save?
The Simply Save program gives you an easier way to save money. When you sign up for Simply Save, you can customize your plan and save money without changing your spending habits. What could be simpler than that??
2) How does Simply Save work?
Simply Save transfers a set amount of money from your chequing account to a savings account when you use your TD Canada Trust Access Card. And you get complete flexibility to choose:
- How much to transfer per transaction (from $0.50 to $5.00)
- What kind of transactions to include (debit purchase, ATM withdrawal or both)
- What kind of TD Canada Trust account your savings go into, including a High Interest TFSA Savings Account, your savings account, or even someone else’s savings account
- How often savings will be transferred from your chequing account to the savings account you choose (daily, weekly or biweekly)
- How many transactions count toward your savings (for example, the first five every week)
3) What if I don’t have enough funds in my chequing account to cover a transfer at any point in time?
We won’t make the Simply Save transfer if there isn’t enough money in your chequing account to cover it.
4) What do I need to sign up for Simply Save?
In order to take advantage of Simply Save, you will need:
- A TD Canada Trust Chequing Account
- A TD Canada Trust Savings Account
- A TD Canada Trust Access card
If you already have a TD Canada Trust Chequing Account or a TD Canada Trust Savings Account, and are registered for EasyWeb Internet Banking, all you have to do is open the account you don’t have. You can do it online in minutes.
5) What accounts are eligible for Simply Save?
All personal Canadian dollar TD Canada Trust chequing accounts, and all Canadian dollar personal TD Canada Trust savings accounts and TFSA High Interest savings accounts. Please note: The Daily Interest Savings Account (DISA) RSP is eligible for Simply Save but is not eligible for the Bonus Offer. Locked-in RSPs are not eligible for Simply Save transfers or the Bonus Offer.
6) Can I set up Simply Save from a Chequing Account to another Chequing Account, or from a Savings Account to another Savings Account, OR from a Savings Account to a Chequing Account?
Simply Save can only be set up from an eligible TD Canada Trust Chequing Account to an eligible TD Canada Trust Savings Account. If you don’t have a TD Canada Trust Chequing or Savings Account, check out www.tdcanadatrust.com/accounts or visit your nearest TD Canada Trust branch.
7)If my original debit card purchase is later returned, will that result in my Simply Save transfer amount being adjusted?
No, the original IDP transaction will still be counted as an eligible Simply Save transaction when calculating the transfer amount and no adjustment will be made.
8) Is Simply Save eligible on joint accounts?
Yes, all eligible transactions conducted on the joint account by all account holders count towards the calculation of the transfer amount.
9) When do Simply Save transfers occur?
Simply Save transfers accumulate and occur once daily, weekly or biweekly, depending on the frequency you chose. It will appear as a single transaction on your account history. |
