TD Class Action Lawsuit Is Giving Out Money To Canadians & Here's How You Can Get Paid

The TD class action lawsuit in Canada has now been settled and approved which means money is being paid to Canadians.

You could receive a payout from this class action lawsuit so here's what you need to know — including who is eligible, how much money is available and when payments are going out.

On February 15, 2024, the $15.9 million settlement was approved by the Ontario Superior Court of Justice.

Class members are every person residing in Canada who was a personal deposit account holder with TD Bank and whose personal deposit account was charged a non-sufficient funds fee on a re-presented pre-authorized debit transaction from February 2, 2019, to November 27, 2023.

However, to get money from the TD Bank duplicative NSF fees class action settlement, you need to be an eligible class member.

Koskie Minsky, the law firm representing this class action, shared that eligible class members are class members who meet all of the following:

• was or is a personal deposit account holder with TD Bank
• was charged an NSF fee by TD Bank to their personal deposit account on a re-presented pre-authorized debit transaction from February 2, 2019, to November 27, 2023
• has an open personal deposit account with TD at the time of distribution

If you're an eligible class member, you'll receive a notice directly from TD Bank through EasyWeb letting you know that the settlement has been approved and you're eligible to receive compensation.

All eligible class members will receive an automatic direct deposit of around CA$88 to their TD personal deposit account.

Since the money is going to be given through a direct deposit, you don't need to submit a claim online to receive compensation.

While there isn't an exact TD class action lawsuit payout date, money from the settlement is expected to be sent to eligible class members starting in early April, according to Koskie Minsky.

This article's cover image was used for illustrative purposes only.