How to Pay Your TD Mortgage with Chexy

Quick Summary

Updating your TD mortgage payment account can typically be completed over the phone in about 10 minutes. Before calling, have your institution number, transit number, account number, and Chexy void cheque (if requested) ready. Once you've provided your updated banking information and verbal authorization, TD will begin processing your request, which generally takes between 2 and 10 business days. Completing the update before your next scheduled payment can help ensure a smooth transition.

Overview

Your mortgage payment is one of the largest recurring expenses you'll make each month. If you have a TD mortgage and want to start paying through Chexy, the first step is updating the bank account linked to your mortgage payments.

Fortunately, TD makes this process relatively straightforward. In most cases, you can update your mortgage payment account over the phone without needing to visit a branch. Once your new banking information has been verified, TD can begin processing the change so future mortgage payments are withdrawn from your updated account.

Whether you're switching bank accounts, updating your pre-authorized debit information, or setting up your TD mortgage to be paid through Chexy, preparing ahead of time can help make the process faster and easier.

This guide covers everything you need to know about updating your TD mortgage payment account, including the information you'll need before calling, how to contact the correct team, what to expect during the phone call, processing timelines, and helpful tips to ensure your banking information is updated before your next mortgage payment.

Understanding the TD Mortgage Payment Update Process

TD mortgages are typically paid through a pre-authorized debit (PAD), meaning your mortgage payment is automatically withdrawn from the bank account you've authorized on your scheduled payment date.

If you decide to change the account used for your mortgage payments, you'll need to update your banking information with TD so future payments are withdrawn from your new account. This helps ensure your mortgage payments continue without interruption and reduces the risk of missed or returned payments.

Unlike some mortgage lenders that require homeowners to visit a branch, TD generally allows mortgage payment account updates to be completed over the phone. Once your banking information has been verified and you've provided the required authorization, TD can begin processing your request.

Although the phone call itself is usually quite short, it's important to allow enough time before your next mortgage payment, as processing may take several business days before the updated account becomes active.

Before You Contact TD

Taking a few minutes to prepare before calling can help make the process much smoother. Having your banking information readily available allows the representative to verify your new payment account without unnecessary delays.

Before contacting TD, gather all of the information you'll need to complete the update.

Required Information

Have the following ready before calling:

• Your institution number
• Your transit number
• Your account number
• Your Chexy void cheque (if requested)

Keeping this information nearby will help ensure your request can be completed during a single phone call.

Why This Information Is Required

Institution Number

The institution number identifies your financial institution and tells TD where your future mortgage payments should be withdrawn.

Before calling, double-check that you've copied the correct institution number from your Chexy banking information to help avoid delays.

Transit Number

Your transit number identifies the specific branch associated with your account.

Providing the correct transit number ensures your mortgage payments are directed to the correct account.

Account Number

Your account number identifies the exact account that will be used for future mortgage payments.

Before providing this information over the phone, take a moment to verify that each digit is accurate. Even a small error can delay the processing of your request.

Chexy Void Cheque

In some cases, TD may request a Chexy void cheque to verify your banking information.

Having it ready before you call can help prevent additional follow-up requests and keep the process moving efficiently.

What's the Best Way to Contact TD?

While you can call TD directly, many homeowners find that using the TD Banking App is one of the easiest ways to reach the Mortgage Payment Changes team.

To contact TD through the app:

• Open the TD Banking App.
• Tap More.
• Select Contact Us.
• Tap Call Us, then Account.
• Select Payment Changes under Mortgage & FlexLine.

Alternatively, you can call TD's Mortgage Payment Changes line directly at:

1 (844) 760-0258

Calling the correct department from the beginning can help reduce transfers and get your request started more quickly.

How to Update Your TD Mortgage Payment Account

Once you've gathered your banking information, you're ready to update the account linked to your mortgage.

The process can typically be completed during a single phone call, making it one of the more convenient mortgage payment update experiences.

Step 1: Contact TD

Begin by contacting the Mortgage Payment Changes team through the TD Banking App or by calling the dedicated mortgage support number.

When you're connected with a representative, let them know you'd like to update the bank account used for your mortgage payments.

The representative will first verify your identity before collecting your updated banking information.

Step 2: Provide Your Updated Banking Information

During the call, you'll typically be asked to provide:

• Institution number
• Transit number
• Account number
• Your Chexy void cheque (if requested)
• Verbal authorization to complete the change

Once your banking information has been verified, TD will begin processing the request.

Before ending the call, it's always a good idea to confirm that your banking information has been entered correctly and ask when the changes are expected to take effect.

How Long Does the Process Take?

One of the biggest advantages of updating your TD mortgage payment account is how quickly the request can be submitted.

The phone call itself typically takes around 10 minutes, assuming you have your banking information ready before contacting TD. During the call, the representative will verify your identity, collect your updated banking information, and obtain any required authorization before submitting the request.

Although the request itself is completed quickly, the account update is not always immediate.

In most cases, TD advises that processing can take anywhere from 2 to 10 business days before the updated banking information becomes active. Processing times may vary depending on your mortgage and when the request is submitted.

To help avoid any interruptions to your mortgage payments, it's recommended to complete the update several business days before your next scheduled payment date. Allowing extra time helps ensure future payments are withdrawn from your updated account without delays.

Tips Before Updating Your Mortgage Payment Account

Preparing before you call can help make the process faster and reduce the likelihood of follow-up requests.

1. Call Through the TD Banking App

If possible, contact TD through the TD Banking App.

Using the app can help connect you directly with the Mortgage Payment Changes team, reducing the chances of being transferred between departments. Starting with the correct team can help make the entire process more efficient.

2. Have Your Banking Information Ready

Before placing the call, make sure you have your institution number, transit number, account number, and Chexy void cheque (if requested) readily available.

Providing your banking information accurately during the initial call helps avoid delays and ensures your request can be processed as quickly as possible.

3. Don't Worry if Peoples Trust Company Doesn't Appear

In some situations, "Peoples Trust Company" may not immediately appear in the representative's system when entering your banking information.

If this happens, don't panic. The representative may still be able to manually enter the required information and complete your request. If you have any questions during the process, simply ask the representative to confirm that your updated banking details have been entered correctly before ending the call.

4. Allow Enough Time Before Your Next Mortgage Payment

Even though the phone call itself is relatively short, processing may take up to 10 business days.

Submitting your request well before your next mortgage payment helps reduce the risk of your payment being withdrawn from your previous account.

Common Questions Before Updating Your Mortgage Payment Account

Changing the bank account linked to your mortgage is a routine request, but many homeowners have questions before getting started.

Below are a few things worth knowing before contacting TD.

Will My Mortgage Payment Date Change?

Updating your banking information changes the account your mortgage payments are withdrawn from, but it does not typically change your existing payment schedule.

Unless you've made other arrangements with TD, your payment frequency and payment dates should remain the same after the account update has been processed.

Should I Keep My Previous Account Open?

If your next mortgage payment is approaching, it's generally a good idea to keep your previous payment account active until you've confirmed that future mortgage payments are being withdrawn from your updated account.

Doing so can help prevent missed or returned payments while your banking information is being updated.

What If I Need to Make Changes Again?

If you ever switch bank accounts in the future, you'll need to repeat the mortgage payment account update process with TD to ensure future payments continue without interruption.

Keeping your mortgage payment information up to date helps prevent avoidable payment issues and ensures your payments continue to be withdrawn from the correct account.

Frequently Asked Questions

Can I update my TD mortgage payment account online?

Mortgage payment account updates are typically completed over the phone. Calling through the TD Banking App can also help you reach the appropriate Mortgage Payment Changes team more quickly.

How long does the process take?

The phone call itself usually takes around 10 minutes.

After your request has been submitted, processing typically takes between 2 and 10 business days, depending on your mortgage.

What information should I have ready?

Before contacting TD, have your:

• Institution number
• Transit number
• Account number
• Chexy void cheque (if requested)

available so the representative can complete your request efficiently.

Will I need to provide authorization?

Yes.

During the call, you'll typically be asked to provide verbal authorization before TD processes the account update.

What happens after my request is submitted?

Once TD has processed your request, future mortgage payments will begin withdrawing from your updated bank account.

If you're unsure when the changes will become effective, ask the representative for the expected processing timeline before ending your call.

What if Peoples Trust Company doesn't appear?

If Peoples Trust Company doesn't appear in the representative's system, they may still be able to manually complete the request using your banking information.

If you have any concerns, ask the representative to verify your account details before finishing the call.

Can I update my banking information close to my payment date?

While it's possible, it's generally recommended to complete the update several business days before your next scheduled mortgage payment. This allows enough time for processing and helps avoid any interruptions to your automatic mortgage payments.

Conclusion

Updating the bank account linked to your TD mortgage is a simple process that can typically be completed over the phone in just a few minutes. By preparing your banking information ahead of time, contacting the correct Mortgage Payment Changes team, and allowing enough time for processing, you can help ensure the transition is completed smoothly.

If you're planning to pay your mortgage through Chexy, updating your banking information is the first step toward earning rewards on one of your largest monthly expenses. Once your request has been processed, future mortgage payments can be withdrawn from your updated account, making it easy to start paying your mortgage through Chexy.

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