TD Cardholders Get More Payment Options
TD Bank Group announced the launch of TD Payment Plans, a new credit card feature that gives eligible TD Cardholders the option to pay for eligible purchases of $100 or more in six, 12 or 18 equal monthly installments , according to a Tuesday (June 14) press release.
“We know our customers are looking for convenience and flexibility, especially when it comes to managing their monthly expenses,” said Meg McKee, Senior Vice President, Canadian Card Payments, Loyalty and Personal Lending, in the company’s press release. “With the launch of TD Payment Plans, we are excited to offer more choice in how customers pay for their purchases and more control over their budgets.
“Whether they’re looking to buy a big-ticket item or just looking for another option to help control cash flow, this new feature is designed to make payments more manageable,” she said.
The new program helps cardholders manage their cash flow by allowing scheduled payments for credit card purchases for a fee or lower interest rate. Cardholders can also continue to use existing credit card benefits for their purchases, such as rewards and insurance, and can redeem a plan at any time without penalties, the press release said.
TD Payment Plans are available now on TD EasyWeb Online Banking and will be added to the TD Mobile App in the coming months.
Related: TD launches real-time payments for car dealerships as contracts are signed
In March, TD Auto Finance became the first indirect lender and the first major auto lender to offer nationwide real-time payment options to its network of auto dealerships. This capability has allowed TD Auto Finance to make payments to dealers throughout the day as contracts are booked and avoid the nightly process of sending batch payments using Automated Clearing Houses (ACH).