Published
August 31, 2024
Updated
August 1, 2026
The $32.225 million TD Bank APSN overdraft settlement paid eligible account holders automatically. Checks and account credits began going out in March 2025, with no claim form required.
Current Status
There was no claim form to file. The administrator calculated awards from TD Bank records and began mailing checks to former account holders on March 12, 2025. Credits were posted to active eligible accounts on March 17 and 18, 2025. The public site confirms those initial disbursements but does not label all later administration complete.StatusChecks and Account Credits Issued
Initial DisbursementMarch 12–18, 2025
Total Value$32.225 Million
Proof RequiredAutomatic Payment — No Claim Form
What Changed After Final Approval?
The settlement administrator completed the award calculation and moved into distribution. Former TD Bank account holders were sent award checks beginning March 12, 2025. Eligible people with active TD Bank accounts received credits on March 17 or March 18, 2025. Those dates replace the page's old prediction that payment might occur roughly 60 days after approval; the official site now confirms that payment issuance actually began.What Are APSN Overdraft Fees?
APSN means authorize positive, settle negative. A debit-card purchase may be authorized while the account's available balance is positive, but other activity can reduce the balance before the merchant transaction settles. The bank then pays the transaction when the balance is insufficient and assesses an overdraft fee. The lawsuit challenged TD Bank's practice of charging that fee even though the account showed enough available money when the transaction was authorized.What Did the Lawsuit Allege?
Plaintiffs alleged that TD Bank's personal deposit account agreement did not authorize the challenged APSN fees and that collecting them breached the bank's contractual obligations. TD Bank disputed that interpretation and denied wrongdoing. The settlement resolved the disagreement without the court deciding which side was right.Who Was Included?
The settlement generally covered people who had a TD Bank personal checking account and were charged one or more overdraft fees on debit-card transactions that were authorized when the available balance was positive but paid when the available balance was insufficient. The relevant fee period ran from June 27, 2019, through September 30, 2022. Eligibility and individual fee history came from TD Bank's records.How Was the $32.225 Million Value Structured?
The total settlement value consisted of a $21.975 million settlement-payment amount and $10.25 million in overdraft forgiveness. The cash portion funded awards after approved deductions under the agreement. The forgiveness component reduced qualifying outstanding balances on certain closed accounts. These were different forms of relief, so a class member was not necessarily entitled to both or to an equal share of the headline total.How Were Individual Awards Calculated?
Awards were based on the number and amount of eligible APSN fees reflected in TD Bank's data and the allocation rules in the settlement agreement. The net cash fund was distributed across eligible class members rather than paying everyone a fixed advertised amount. Active customers received an account credit; former customers were sent a check. Closed accounts with qualifying balances could also receive the settlement's debt-forgiveness treatment.Why Was No Claim Form Required?
TD Bank supplied the records needed to identify class members and calculate payments, so doing nothing was the payment option. This is an automatic-payment settlement, not a proof-free claim process. The administrator did not ask the public to submit receipts or account statements to OpenClassActions, and a notice identifier was not needed to create eligibility.What Should a Class Member Check?
A current customer can review account history around March 17 and 18, 2025, for a settlement credit. A former customer can review records for a check mailed beginning March 12, 2025. Anyone who believes an issued check needs attention should use the official site's procedures rather than sending account numbers or banking documents to OpenClassActions.Official Information
Review the latest information on the official TD Bank APSN settlement website website.
Case
Burns v. TD Bank, N.A.
Case Number
1:21-cv-18194-KMW-AMD
Court
U.S. District Court, District of New Jersey
Settlement Payment
$21.975 million
Overdraft Forgiveness
$10.25 million
Fee Period
June 27, 2019–September 30, 2022
Initial Disbursement
March 12, 2025
Official Website
official TD Bank APSN settlement website
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