TD Bank raises fees on checking account services

NEW YORK - TD Bank is raising a variety of service fees on its checking accounts.

The bank said Thursday that the higher fees on wire transfers, certified checks, money orders and stop-payment fees will take effect next month. TD Bank will also start charging $9 after the sixth withdrawal from select savings accounts.

TD is the Philadelphia region's second biggest bank, behind Wells Fargo, based on deposits ($16.71 billion) as of June 30.

The fee hikes are just the latest unwelcome changes for bank customers. The industry over the last year has cited new regulations in imposing higher fees and scaling back perks on checking accounts.

Customers of TD Bank, for example, already saw their checking account terms change earlier this year. In March, the bank increased the monthly fee on its basic checking account to $3.99, up from $3. But the bank offered a $1 discount to customers who opted for online statements. TD Bank also stopped reimbursing customers for fees they incurred at out-of-network ATMs.

The latest changes to take effect Dec. 3 at TD Bank are:

* Wire transfers will cost $15, up from $10

* Certified checks will cost $8, up from $4

* Money orders will cost $5, up from $4

* Stop-payment fees will cost $30, up from $25

Despite the onslaught of higher bank fees in the last year, consumers scored a rare victory this week when Bank of America backpedaled on its plan to charge $5 a month for debit card purchases. The announcement came after competitors JPMorgan Chase & Co. and Wells Fargo & Co. said they were canceling trial runs of their own debit card fees.

The banks all said customer feedback played a role in their decisions to scrap the fees.

TD Bank, a unit of Canada's Toronto-Dominion Bank, has more than 1,200 locations in 15 states and the District of Columbia and is one of the 10 largest banks in the country.