TD Bank announces new fee and is hiking four of the fees it already charges

NEW YORK (CNNMoney) -- As other banks recoil from the customer wrath they faced after attempting to introduce debit card fees, TD Bank is rolling out a brand new fee and hiking others.

Starting in December, TD Bank savings account customers who exceed six transactions in a billing cycle will pay a $9 fee each time they take money out of their account. Transactions include online transfers from their savings account to other accounts, as well as phone and debit card withdrawals.

Citing a federal rule known as Regulation D, which limits the number of transactions customers can make from their savings accounts to six, other banks including Bank of America and Wells Fargo already have similar fees in place.

According to the regulation, after six savings account transactions it begins to costs the banks money. So TD Bank says it will begin charging customers instead of eating the cost itself, a spokeswoman said.

But some customers look at the new fee as just another way banks are trying to gouge them.

"With everyone these days having to dip into their savings on a regular basis to transfer money to their checking to pay the bills - this is another way the Big Banks are making money," wrote one CNNMoney reader, who received a notice about the fee in the mail from TD Bank on Tuesday. "Credit Unions and Local Banks are looking more and more attractive these days."

At the same time, TD is hiking four of the fees it already charges -- all of which will also take effect in December. Receiving a wire transfer will now cost $15, up from $10. Getting a certified check will come with an $8 fee, up from the current $4 charge. Money orders will cost $5, instead of $4, and stop-payment fees will run $30, up from $25.

"Customers have shared with us what matters most to them when choosing a bank and given their feedback and the current environment, we took careful consideration when deciding to change certain fees," said TD spokeswoman Rebecca Acevedo. "With that, we modified peripheral fees that small groups of customers pay infrequently and we are educating them on how to avoid the fee."

While big banks like Bank of America, Chase and Wells Fargo may pause before announcing new fees after the debit-fee debacle, it's likely only a matter of time before they will be following in TD Bank's footsteps and trying out new fees again.

You may begin seeing new costs pop up early next year but in subtler ways: watch out for higher existing fees (as TD Bank is doing), slightly lower deposit rates and higher credit card interest rates, says John Ulzheimer, credit specialist and president of consumer education at

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