Canada TD Bank Class Action Settlement: The TD Bank Class Action Lawsuit Settlement addresses allegations of charging numerous non-sufficient funds (NSF) fees on one transaction, which raised concerns about financial practices.
The Ontario Superior Court of Justice has approved a significant settlement to compensate affected customers and uphold fair banking practices. The lawsuit targeted the bank’s policy regarding NSF fees for transactions surpassing the account balance.
Canada TD Bank Class Action Settlement 2025
Allegations were made that TD Bank incorrectly imposed additional NSF fees for each instance of a payment or check exceeding the balance, leading to numerous charges for a single transaction. This conduct sparked concerns about potential breaches of consumer confidence and financial regulations.
The TD Bank Canada NSF Fee Settlement has been completed, and eligible class members have received their compensation. Through a simple online claim process, customers who were incorrectly charged multiple NSF fees from February 2019 to November 2023 received approximately C$150 per account. This outcome supports fair banking practices.
Canada TD Bank Class Action Settlement Details
| Post Name | TD Bank Class Action Settlement Claim 2025 |
| Bank Name | Toronto Dominion Bank |
| Country | Canada |
| Settlement Name | TD Bank Class Action Settlement 2025 |
| Settlement Type | Class Action |
| Lawsuit in the year | 2021 |
| Eligibility | Those affected by the money laundering case |
| Payment process | Online |
| Payment Amount | Around $16 million |
| Legal proceedings | Settlement reached after the action |
| Category | Canada |
| Official Website | Click here |
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TD Bank Class Action Lawsuit
Following a sequence of legal processes that commenced with the submission of a Statement of Claim on February 4, 2021, the lawsuit progressed through various significant phases such as the bank’s Statement of Defence, a summary judgment motion, and culminated in the acceptance of a proposed settlement. The legal dispute conclude upon the approval of the settlement on February 15, 2025.
The settlement terms specify that eligible class members, mostly individuals who held personal deposit accounts at TD Bank during the specified period and incurred NSF fees on re-presented pre-authorized debit transactions, will be compensated. Each eligible account is expected to receive around C$150 as compensation, but this amount may differ based on the number of claimants and the details of their fees.
Canada TD Bank Class Action Lawsuit Settlement Eligibility
Individuals must meet the main criteria to qualify for compensation from the TD Bank Class Action Lawsuit Settlement.
- Residency: Claimants must reside in Canada, as this requirement is essential since the lawsuit concerns TD Bank’s activities within Canada’s jurisdiction.
- Account Holder Status: You must have maintained a personal deposit account with TD Bank within the stated period. The account must have incurred at least one NSF fee from TD Bank.
- Incidence of NSF Fee: You must have incurred an NSF fee from TD Bank for a re-presented pre-authorized debit transaction.
- Transaction Period: The NSF fee should have been imposed from February 2, 2019, to November 27, 2023, which aligns with the period of the alleged improper fee-charging practices.
- Account Status: The account for your money needs to be open when the payment is made.
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TD Bank Canada Class Action Lawsuit Payment Amount
The eligible class members involved in the TD Bank Canada Class Action Lawsuit Settlement can receive around C$150 per account, but the final payment may differ depending on various factors.
The final amount per individual may adjust depending on the total number of claimants participating in the settlement.
If the claimants incurred additional NSF fees beyond the typical scenario the lawsuit covers, this might influence the final payment amount.
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The allocated settlement amount for each claimant includes deductions like settlement administration costs, lawyers’ fees, and potentially a service award for the Class Representatives.
Claim Process for the TD Bank Canada Class Action Lawsuit Settlement
The deadline for submitting the claim form has expired. The final day to make a claim for the TD Bank Settlement was May 13, 2025. Below is the procedure that individuals could follow to submit a claim:
- Those who qualify were instruct to use a specialized Settlement Website created specifically for handling claims associated with the legal case.
- When claimants visited the settlement website, they were required to thoroughly review all instructions provided to grasp the eligibility criteria, necessary documentation, and the process to fill out the claim form.
- The website featured an online claim form that claimants could fill out electronically.
- Claimants were required to accurately complete the claim form, making sure that all details were thorough and honest.
- After completing the form, claimants submitted it through the online portal provided on the settlement website.
- After submitting the claim form, claimants would receive either a confirmation email or a notification on the website.
- It was important for claimants to keep a copy of this confirmation for their records.
- The settlement website assisted claimants who had inquiries or faced challenges while applying.
The claim process has conclude, with numerous victims having submitted applications for the settlement funds. Which have not yet been deposited into their bank accounts. It could be several months before the claim payments are received. We will share any further updates on this platform.
Canada TD Bank Class Action Settlement FAQ’S
What was the breach under the TD Bank Class Action Settlement Claim 2025?
The breach was that Toronto Dominion Bank has been involved in a money laundering case where they forced the customers to buy unnecessary products.
How much will be provided to the customers under the TD Bank Class Action 2025?
The customers will be provided with the amount approximately $16 million under the settlement claim.
How will the Class Action Settlement be done against the lawsuit?
Beneficiaries who purchased shares between August 26, 2021, and June 3, 2025, will receive the funds directly in their bank accounts.
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