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Incompetency
Posted by Wemove on 02/25/2011
Having closed on two-dozen+ mortgages/home equity/refinances over the past 20 years, with a dozen+ different firms, I have never experienced such incompetent, unorganized, and unresponsive service. For a relatively routine refinance of a simple mortgage, to be strung along for 3+ months is absurd and excruciatingly frustrating.

No matter what the rate, I will never submit an application to this company again.
     
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Posted by cartier on 2012-03-29:
I have had the same issues with them.. they have covered up some investment fraud in the bank and bounce you around. after a year and a half, i have been unable to obtain my bank records from them., They have refused to release them toa MASS. Senator's office and to a lwyer. they took statements out and are in cahoots with their coverup. I don't know how they are in business. The people that they hire are rude, incompetant, and unqualified.
Posted by MF on 2013-06-03:
The worst bank ever, definitely NOT AMERICA'S MOST CONVENIENT BANK at all. Inexperienced personnel and uncaring.
Posted by unhappy mortgage customer on 2013-07-02:
This bank used to be good with their mortgage process. They are terrible now. Rude staff that are clueless and have no idea what they are doing. They give you false promises and lie about closign on time. Worst experience. If you want you house closed on time, go with another bank.
Posted by BHotchkiss on 2013-07-23:
Absolutely the worst mortgage lending bank to work with. Incompetent employees who do not communicate with the underwriters, insurance co. etc. it's been 2 months and we have had to change the closing three times because they lose the documents we send or decide at the last minute that more information is needed. You can't understand their verbal or written communication and we have had to do all of the communication with other parties to get what documents the bank needed. Extremely frustrated and we still haven't closed. This bank is one to stay away from for any type of banking especially if you want to close on a home in a timely manner. It's almost criminal that they can operate with such unqualified employees.
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Unreasonable fees - Where to file complaints to
Posted by Mbacan on 08/12/2007
NEW HAMPSHIRE -- If any of you have issues with any bank, file a compliant with the Attorney General for that part of the state - Banks do not want negative marks with the AG. Also, banks are regulated by the Fed Reserve. also file a complaint here:

http://www.federalreserve.gov/pubs/complaints/

Both of the above organizations are very helpful. One of the things I'm working on is: I am filing complaints w/ both organizations about TD Banknorth. Issues: I checked available balance and took money out. They charged me $25 for a "draw on uncollected" fee. This means the check I deposited did not clear, but my online statement and ATM balance made available 1/2 the money, so I did an ATM withdrawal with plenty of money left over "available".

They did not want to work with me on this, so I am filing.
     
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Posted by Super CCS on 2007-08-12:
Try keeping a checkbook! That is your only true available balance. It is a felony in some states to write a check if the funds are not available or to post date a check.
Posted by Anonymous on 2007-08-12:
i agree that one should always keep a checkbook register and keep it updated daily, but the poster wouldn't have known that the check he/she had deposited was not going to clear. This is why many banks now put a hold on the entire amount deposited until it has cleared. I bank with US Bank and they only authorize $100 and hold the rest for any checks I deposit, other than my payroll check which is direct deposited.
I would think the bank would reverse the charges though, since you were not aware the deposited check was not going to clear, have you made any headway with them yet?
Posted by *Brenda* on 2007-08-12:
Super CCS, your rude comments are making bank reps look bad.
Posted by Anonymous on 2007-08-12:
Brenda, it could probably have been said more nicely, but it undeniably true. Online and ATM balances, by their very nature, cannot be accurate. If one chooses not to keep a check register, then large fees become a fact of life.
Posted by jktshff1 on 2007-08-12:
You need an accountant, not an attorney.
Posted by *Brenda* on 2007-08-12:
Ok, in most complaints his comment would fit but read the complaint. He deposited a check from another person into his account. If he put it in his check register he would have had MORE money than the ATM said considering the ATM only allowed 1/2 of the check to be "available". I know when I enter a deposit in my check book I don't wait a month until I get my bank statement to make sure it cleared, I do it right away!

This isn't a case of the OP writing a check for more than they had as they didn't have a clue that that check they deposited bounced. Super didn't even READ the complaint, he spouted off about writing checks for funds that aren't there is illegal. The OP didn't even write a check!
Posted by Anonymous on 2007-08-12:
Good catch Brenda!
Posted by mbacan on 2007-08-17:
Thanks Brenda... It's a bit puzzling how some folks just throw opinions out there while not understanding the real issue. My main reason for posting this was to make consumers aware that there are options. Although I have not gotten anywhere w/ these people, I am tired of them putting the burden back onto the consumer - once again, both the ATM nd onine available balance was enough for me to withdraw what I did. Their response was a check could take 1, 2 or up to 11 days. I will keep this thread posted as things progress. How am I as a comsdumer supposed to know - check the available balance maybe!
Posted by watch dog on 2010-01-12:
SHAME ON TD BANK for its misuse of power over its depositers it is a shame. It started out as community savings and was bought out by Andover savings them I call a hostile take over by td bank north and its heirs. What was once a friendly home town Banks till greedy corperate ceos and directors took it and stole the working class deposits by using unfair fees and shady policies that levied unfair fees on the customers and customer service reps cant help they can only follow the czars rules or be terminated. My great grandparents and my grandparents and my parents and myself and my children were there when the original banks started and it was not for the purpose of this it was working class depositing there money and loaning it to neighbors and so for not so some corperate big shots could have bonuses at the expense of the original depositers its a shame and I hope washington slaps there faces not there hands I hope they levy all there bonuses and mandate they open fee policy
SHAME TD and all the other banking bigs like bank of america
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Unreasonable Overdraft Policy Equivalent To Theft
Posted by Dskessler on 07/29/2008
PHILADELPHIA, PENNSYLVANIA -- As a user pointed out above, TD's overdraft fees are unfair and unreasonable. I'll try to keep this rant short. I agree that I should be aware of what is in my bank account at all times but it's going to happen that a person will make a mistake every now and again. In this case an automatic payment to my account that had always been reliable in the past was not deposited and I neglected to check before I made several business purchases through my debit card. Not only did TD allow every purchase to go through, their only notice that I had overdrawn my account was in the form of a letter in the mail. I bank solely online. I check my email about 100 times a day. My only guess as to why a bank would encourage online banking but fail to send online notices is to deliberately try to trip up it's customers into unknowingly making over-drafted payments in the time it takes to receive the mail and recognize that it is not the usual junk mail that one gets everyday.

Over the span of only 4 days, TD Banknorth charged me, I kid you not, $540 in overdraft fees (!) which kept appearing on a daily basis for over a week.

I'm a single person working freelance in a failing economy. I'm sure I don't have to tell you how much that money meant to me and how much not having it sent me into a panic.
The person at the TD branch closest to me was condescending and unhelpful. Basically, he just said that this was my fault and I should have known better.

I was later referred to a manager at the branch that I opened the account at, who himself had no authority to help me but became the middle man to his manager who took about 2 weeks to give me a response. As I was writing this I was informed that the bank will reimburse $200. Appreciated, but that still means that TD Banknorth gets away with $340 of my money for a mistake.

I'm powerless except to write this review here and wherever else it might have the slightest effect and to close my account and join a credit union, who I am told will treat me like a human being.
It's hard to not be cynical in a world where I have to feel that I am falling into somebody's plot every time I sign a contract. It's so hard to keep my head above water as it is, the last thing I need is for my own bank to make it impossible for me to pay my rent.
thanks for listening.
     
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Posted by yoke on 2008-07-29:
What did the bank do wrong?
Posted by msnanny on 2008-07-29:
You are NOT powerless. YOU can make sure that you have money in your account BEFORE you spend it. Problem solved.
Posted by dskessler on 2008-07-29:
thanks for your sympathy. I'm simply saying that the bank's policies are designed to take unfair advantage of it's customers mistakes. maybe nothing they did was illegal but that doesn't mean that they are not wrong and unreasonable. Maybe it's too much to ask that an institution that is making money off of me should treat me with a little respect and have policies that reflect that. How's about less crippling overdraft fees and better notification?
Posted by yoke on 2008-07-29:
Do you really expect the banks to e-mail every person that overdrafts there account? It is your job to make sure the funds were there, not tha banks.
The bank did nothing illegal, but you did.
Posted by Principissa on 2008-07-29:
I always thought it was the customer's responsibility to adequately keep track of their funds. I guess I was wrong. Maybe spending money that you didn't have wouldn't have put you in this situation. It's not the banks job to e-mail and call every customer who is overdrawn? It's common sense, don't spend it if you don't have it.
Posted by dskessler on 2008-07-29:
no Yoke, i did nothing illegal. I think you should look up that word. I do expect banks in 2008 to notify me by email. that is the point of paperless banking. i get automatic email notifications for everything else. If they can automatically print out a piece of paper and have it mailed to me, they can automatically send an email. And I admit fully to my mistake but still feel that the charge was way too high and unwarranted. Obviously you have no issue with bending over for your corporate masters.
Posted by Anonymous on 2008-07-29:
The magnitude of these overdraft fees is ridiculous. Overdraft protection is nothing more than a short term loan yet these national banks who exists on the public trough via the federal reserve and fractional banking are allowed to charge fees/interest that would shame the Soprano family. A while back when BoA found it's self a little short covering it's reserve requirement the Fed relaxed the rules and there was no FEE or even admonishment yet when good hard working Americans make a mistake they get slammed and slammed hard. It is unbelievable the people take this and heck even defend it. Go figure.
Posted by Anonymous on 2008-07-29:
National banks.....A bad idea! (an exerpt from an ad here in Colorado from like 25 years ago against national banks)
Posted by Anonymous on 2008-07-29:
The bank cannot send e-mails to overdrawn customers for the same reason your debits clear almost intantly, yet you cannot access your deposits for up to seven days. Fees, not services, run the banking industry. When our 'failing economy' sputters to a stop fairly soon, I predict that predatory bankers will find themselves festooning the streetlights around their banks.
Posted by jenjenn on 2008-07-29:
I do think bank fees are ridiculous, but you were the one who made the mistake here. Responsibility and accountability - what concepts!
Posted by Anonymous on 2008-07-29:
Dskessler, try to remember a couple of things. One, most banks now process debits before credits to maximize OD fee's. Two, they will almost always authorize a debit card purchase without the funds in the account, again to maximize the OD fee's. There have been people on here that over drew their account by a couple of dollars using their debit card and were hit with a $35 OD fee on a $5 purchase. I know you don't want to hear it but keep a positive available balance and get some over draft protection linking the account to a savings account or something.

The banks are in this to make as much as they can, not to be your friend.
Posted by yoke on 2008-07-29:
dsklessler, yes you did do something illegal. It is illegal to write checks/use debit cards when the funds are not available.
I make sure I have the funds avaialable in my account, so I don't have a problem with overdrafts. You are expecting to much out of your bank to notify you via e-mail that you are overdrawn. That is not their job, it is your job to make sure you are not.
Posted by Anonymous on 2008-07-29:
Yoke -- It is not illegal to write checks/use debit cards in excess of your account balance so long as the obligations are paid by the bank as in this case.
Posted by yoke on 2008-07-29:
Then who's obligation is it to pay the bank?
Posted by Anonymous on 2008-07-29:
The only time when it is illegal is when they can prove that you did it maliciously and or with criminal intent.
Writing a check from a now closed account for example.
Posted by Anonymous on 2008-07-29:
People used to "float" between accounts but those days are long gone with same day processing now. My wife used to work at a bank many moons ago and said they would catch people running a float for a whole week sometimes.
Posted by Anonymous on 2008-07-29:
A week? That is a long time. Like you said those days are long gone.
Posted by Principissa on 2008-07-29:
We actually know a guy from hubby's command who floated a check once, the navy found out about it and the captain tore him six ways from Sunday. He almost went to jail over this. Way I see it is, if you don't got it don't spend it. I'd rather go without then spend hundreds in overdraft fees.
Posted by yoke on 2008-07-29:
Commands were known to "handle" bounced checks. A neighbor in Treasure Island wrote a bad check to the Exchange. He got extra duty for it!
Posted by Anonymous on 2008-07-29:
My brother was at Treasure Island for awhile. Talk about prime real estate. To bad the bridge cuts thru it.
Posted by yoke on 2008-07-29:
That is when the bridge wasn't down! We were on TI during the earthquake. That was a joy not being able to get off for a while!
Posted by CrazyRedHead on 2008-07-29:
Have you ever gone into a check writing establishment? There is a an official looking document on the wall that states that they (check cashing places) cannot press charges or the check writer cannot have charges pressed against him for writing cold checks. There is actually a law somewhere in the books that say that it is illegal to write checks or use a debit card if the funds are not available. I will try to find it and post a link. I hate quoting something if there is nothing to back me up, but I really do believe there is a law against it.
Posted by Anonymous on 2008-07-30:
Does you online banking offer email alerts that you have to sign up for?
My bank does. However the email alert isn't sent out until after the day's transactions have been processed the next day.
Posted by Anonymous on 2008-07-30:
The credit union I belong to just takes money from my savings to cover me screwing up with my debit card, which I've done twice in my life. I wonder why banks don't do this. It has to be pretty easy to transfer funds from one account to another. They charged me $2.00, end of story.
Posted by yoke on 2008-07-30:
My CU does not send out e-mails, but when you log into online banking they do have an area for messages. I don't know if they leave messages for NSF since I make sure I don't overspend my account. They will leave messages reminding when the CU is closed or if the system will be down for a certain time frame.
Posted by jenjenn on 2008-07-30:
Sherdy - banks do have the capability of doing the transfer from the savings if your account is set up that way.
Posted by Anonymous on 2008-07-30:
Hey Jen-then why the charges? Banks lose customers this way and I just can't see why banks won't show a little gratiousness. Why the charges for over draw when someone has more than enough to cover the amount in the savings. It's not that hard to make people happy. I mourn for the loss of good customer service.
Posted by Ponie on 2008-07-30:
sherdy, is 'good customer service' having the bank float you a loan at no cost when you're overdrawn? :)

To the poster: Would you like a little cheese with your whine? 'I'm a single person working freelance...' So what? I've been doing that for years. You sound like a teenager. You've got a little growing up to do. I'll bet your credit cards are maxed out, too.
Posted by MyDogsMom on 2008-07-30:
To clarify bounced check illegality....if a check is intentionally bounced, you can be prosecuted. How do they clarify if you did this intentionally? By whether a check is paid immediately when notified of the bounce. So...if you make a mistake in math and a check bounces but you work your magic and cover it, you have fees to pay and shame to be covered with but no law broken. No harm, no foul. Second scenario, same check bounces and you say "Sorry dude...I am unable to cover it. Not my problem." That's illegal. I have personally worked with our county bounced check dept. Those who don't pay up and get prosecuted pay a hefty fine and are required to take a class for the first offense. (In CA, this episode will cost them about $700.)

MDM
Posted by yoke on 2008-07-30:
mydogsmom, thanks for the info. I knew that if you did not pay it in a certain time frame you would be prosecuted for it.
Posted by Anonymous on 2008-07-31:
Ponie, dearest, how is it the bank's money when they are taking it out of my account? Last summer, because of a hail storm, I spent $17,000 of insurance money and $3,000 of my own repairing my home. Between paying the roofer, siders, window folks, siding folks and door folks, I screwed up and withdrew too much with debit purchase. The bank just moved MY money from one of MY accounts to another. $2.00 charge.
Posted by Anonymous on 2008-07-31:
I think everyone missed the author's point here which was that she admitted to making a mistake but had her bank immediately notifed her rather than send out a notice by postal mail, the overdraft fees would have been far less, which she probably would have happily paid since she did admit it was her fault to begin with.
Posted by thensider on 2008-07-31:
FYI PEOPLE, some banks DO notify you when you overdract, including B of A. They also notify me when I spend over $100 online and many other things that I have stipulated.
In general, i agree with the whole " know whats in your account thing", but I too have made mistakes causing overdrafts. A mistake as small as an error in subtraction cost me and entire paycheck a while back. I was off by $2. Yeah, i know, i have never seen my checking account that low on purpose, but times are tight, what can I say?
Posted by ditchqueen on 2009-03-02:
In defense of poster since he is getting beating up on here. I too had a simliar issue with Banknorth, over $5.00 overdraft, eventhough I ran down to the bank to deposit money before it went through. Here is the issue and how I got my money refunded.

1. TD banknorth does not ask your permission to enroll you in the overdraft protection (with fee), the minute you open a checking account you are enrolled. You have to write a request that you would rather bounce a check or deny a debit charge then have them "cover it" for you.

2. Banknorth removes charges first, then adds deposits. so this may cause someone to over draw, which is what they hope so they can charge you $25 bounce and $30 to cover it.

3. Banknorth removes higher charges first, then the smaller amounts. This also will cause some people to bounce several items over just one.

4. debit and credit purchases are debited from the account the minute they are made, but not updated in your balance history until the next day or several working days. This may also cause someone to bounce items.

These policy's were made so that consumers would bounce items and they hope a lot. They will also bounce and charge over $50 even if you are over by $0.01
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TD Bank - Inept and Unethical
Posted by Scary Feet on 10/24/2010
BEAR, DELAWARE -- I have a home equity loan with Commerce Bank. When TD Bank bought Commerce, my nightmare began.

I had my loan set up for biweekly automatic payments. This was fine under Commerce but shortly after TD Bank took over, I started getting late notices. I couldn't figure this out since the payments were being deducted from my account every two weeks.

I contacted TD Bank and was told that my payments had been incorrectly posted as principle only, showing as no intereste paid. They admitted this was their mistake, but had not explanation for how it happened. They said they would fix it but by the time they did, they had reported me as delinquent to the credit bureau.

I called back to tell them they needed to rectify this and they said they would turn it over to the person who handles errors with the credit bureau. Imagine, they have an employee assigned full-time to fix information they've erroneously reported on their customer's credit bureau file.

I was supposed to receive a call back in a few days but never did. Of course they would not give me the contact info for the person who handles rectifying the erroneous info being sent. After speaking to several more people at TD Bank over several months, I got nowwhere.

The next thing that happened was they just stopped deducting my loan payment from my account. When I called to ask why they said TD cannot process biweekly payments, only monthly automatic payments. I said it would have been nice if I had been told this. They said they had mailed notices out but I read every piece of mail from my bank and I never received this notification.

When I spoke to someone in the loan dept she said that it was because in the computer switch over (remember when the bank couldn't process anything for 3 days???) from Commerce to TD, several loans were just "dropped off" and mine was one of them. So the whole "we notified you" was a load of crap.

At this point I cancelled my automatic payments and said I would just make the payment myself each month. So each month I go online and pay my loan electronically. However I suddenly start getting notices that I'm a month behind. I look at all my payments which are current, call TD again, and they can't explain it. So in order to not have my loan looking like it's behind, I make an extra payment.

For 6 months I have been doing this. Each month I go online and my loan shows "no payment due" for the current month and the next payment due the following month. But I make a payment anyway, just to be safe.

Then in October, I suddenly see almost $800 deducted from my savings account. Under the column that describes what it's for it just says my name. I immediately call TD Bank and no one can figure out why this money was deducted from my account. The CSR gets her supervisor and they still can't figure it out. So they call my local branch.

The local brank says it's for my home equity loan!! I tell them I am not set up for automatic payments, the amount they deducted isn't my loan amount, and my next payment isn't even due until November! Their answer is they will "research" it and it will take 10-15 days. In the meantime, they won't put my money back in my account. I am freaking out at this point.

So they transfer me to the loan dept and I speak to Matthew. He promises to expedite the research and have the money back in my account in 2-3 days but says I should call on Wednesday to make sure it's there.

I check online on Wednesday and the money isn't there. I call the loan dept and speak to Kelly who is rude, condescending and totally unhelpful. She says all she can do is put it in for researach and it will take 10-15 days. I reiterate that TD has taken my money with no authorization and I want it back. Kelly said no. I told her that Matthew said I would have the money back that day and she didn't even want to look up the notes on my account to verify this. She finally did and said Matthew only put in the notes that he would expedite the research process.

So I said "then Matthew basically lied to me." She refused to comment and just kept repeating that she would put it in for reserach and it would take 10-15 days. I was ready to scream. But instead I asked to speak to a manager. She just keep repeating her mantra "I'll put this in for research. It will take 10-15 days." She said this about 5 times ignoring everything I was saying.

I kept insisting on talking to a manager and she finally put me on hold. After a very long wait a manager, Nick, came on the line, apologized and said I would have the money back in my account that afternoon. Amazing! However, he said I would need to write a letter saying I no longer wanted automatic payments deducted from my account, and I would have to fax or drop it off since they needed my signature.

I repeated several times that I did not have automatic payments and hadn't for almost a year. He said he understood but said it was showing in their records that I was set up for automatic payment since January 2010. I then asked why, if that was the case, in 10 months, a payment had never before been deducted from my account. I also asked why they would deduct a totally different amount that my loan payment amount, and take it out a month before it was due. He couldn't explain but said I would need to drop the letter off in order to prevent this from happening again.

I replied that it was amazing that they hadn't needed my signature to set me up for automatic payments that I never requested, and could take random amounts of money out of my account with no explaination, but they needed my signature to stop doing something they did without my authorization in the first place!!

I also told him that my very next step would be to transfer this loan to another lender and close all of my TD Bank accounts.

But the story doesn't end here.

The money wasn't in my account that afternoon, or the next morning. I called TD Bank again and was told that it had to be in the "overnight run" and it hadn't been submitted in time the previous day. Funny, since I spoke to them at 10:30 am!

The woman I spoke to, Marie, was very nice, helpful and professional. She is an anomaly in the TD Bank world but I am grateful for her help. The money finally went back into my account. I gave them the letter with my signature. Even though it aggravated me to have to write a letter to ask them to stop something I never asked them to do, it was easier to just write the letter and (hopefully) avoid another problem.

And by the way, now they're telling me my Oct loan payment is due, even though their online system says a payment isn't due until November.

Do the Three Stooges own this bank? Commerce was bad, but TD is ridiculous.
     
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Posted by tnchuck100 on 2010-10-24:
Yep, it's time to do whatever it takes to divorce yourself from these incompetent bozos. Your story is about as bad as it can get. Good luck.
Posted by Venice09 on 2010-10-24:
I was thinking Three Stooges even before I read it in your last paragraph. The lack of competency is really frightening. These banks have to realize that the customers suffer consequences when mistakes are made and no one can seem to fix them. It's dreadful.
Posted by ok4now on 2010-10-25:
Dump these toads now!! What a poor excuse for a bank treating a good paying customer like this. It's a shame that you can't contact the credit bureau and lower their rating for such horrendous treatment. With the current low interest rates you shouldn't have a problem getting another loan where they appreciate your business. Good luck.
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I take RESPONSIBILITY for my actions.
Posted by on 01/27/2010
I've been on this site for a little over 2 months now and have seen complaint after complaint about people moaning about banks and their insufficient funds fees and trying to blame the bank for their own mistakes.

I am a single guy, and use my debit card every once in a while. Unlike women who can carry around a huge purse around and can hold their whole life in their purse, I do not. So I do not keep a register on me to write down every single transaction, nor go I have the time, or the energy to even try.

Every morning, I log onto my bank site and check my balances in my accounts. Well, a few days a go, I transferred a large amount of money from my td bank account to my ING direct account. As some of you know, ING had a higher interest rate on their savings accounts.

I was doing some shopping yesterday, and through my shopping, the recent withdrawal of the funds to ING slipped my mind. I found an X Box game that I really really wanted, and thought I would treat myself to it. After I made the purchase and was on my way home, BING! The ING transfer popped in my head. DOH!

I get home and saw I was in a negative balance. My direct deposit was going in the next day so I just crossed my fingers and hoped it would go through before the insufficient funds fee popped in. Of course I checked this morning and although the direct deposit came in, the fee was there too.....

Do you hear me complaining to TD bank? No. Its not their fault, its mine. I'm thinking about calling TD bank today just to see if I could try to get the fee waived since Ive banked with them for a while. If not, I'm not going to be upset, Ill deal with the consequences. It was MY fault, no one elses. People need to realize this.
     
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Posted by MRM on 2010-01-27:
Tenn, I applaud you for being very responsible financial person.

PS. When I get home, I would quickly write down every purchases that Ive made on that day.
Posted by memoryx57 on 2010-01-27:
Tennboy, I agree 100%. However in all honesty I've never seen anyone on this site complain about getting a legitimate overdraft. The complaint is, and has always been when the bank turns 1 legitimate overdraft into 4, and do it just because they can. I feel that if you have enough in your account to cover 3 of the checks with no problem, then the bank should pay those 3 and overdraft the 4th. And I realize some people don't see it this way, but fairness and reason should always win out regardless of the situation. IMO..good post!
Posted by Anonymous on 2010-01-27:
Tenn, if you hear a motorcycle roar, beat it out the back door. It'll be Chuck coming to exact retribution for your taking responsibility and not blaming the bank!
Posted by Anonymous on 2010-01-27:
"....So I do not keep a register on me to write down every single transaction, nor go I have the time, or the energy to even try...."

There lies the problem.
Posted by goduke on 2010-01-27:
The Boston Celtics thank you for the donation to the fund for their lovely arena. They will use it well, and hopefully get a championship ring, which you'll be able to view....online.
Posted by Anonymous on 2010-01-27:
ZZ, yeah you may be right. I normally and pretty good at keeping my register tucked away in my head. I always keep my receipts in a box, so in case a problem surfaces. My register is my head and my computer.

Goduke, I hope they take care of my arena. If I ever go, I can point at one of the thousands of seats and say "I BOUGHT THAT!"
Posted by Anonymous on 2010-01-27:
When I had a checking account, I was pretty good about keeping track of my balance in my head. All I have now is a reloadable Visa Debit Card and now I don't have to worry about overdraft fees or anything else. When the money is gone the card is declined.
Posted by Anonymous on 2010-01-27:
It'll always be Boston Gardens to me, GD
Posted by Hugh_Jorgen on 2010-01-27:
We need to place the blame here where it really belongs.....Microsoft. If they hadn't developed the X Box, none of this would have happened. We need to start a class-action lawsuit!
Posted by Slimjim on 2010-01-27:
What a refreshing review. Someone who gets it.
Posted by PepperElf on 2010-01-27:
VH review!!

personal responsibility for the win!
Posted by Anonymous on 2010-01-27:
Nice review.

Reminder to self: Never walk by MRM with my big purse.

Posted by MRM on 2010-01-27:
So you carry a big purse? Hmmm...
Posted by Anonymous on 2010-01-27:
MRM, yes I do. Amazingly enough, I don't carry *any* of the items you listed above.

Posted by Anonymous on 2010-01-27:
"Unlike women who can carry around a huge purse around and can hold their whole life in their purse."

Not all women do that. I have a tiny purse that carries my wallet, check register, and cell phone. Oh, and keys when I don't need them. :-)
Posted by Anonymous on 2010-01-27:
Tenn, would a "fannypack" help?
*joking* (VH)
Posted by Anonymous on 2010-01-27:
oh god no.
Posted by DebtorBasher on 2010-01-27:
You don't have to carry the reg. book with you. When you use the ATM for deposits/transaction, you always have the option for a receipt to print out. Print the reciept and put it in your reg. book when you get home.
Posted by Anonymous on 2010-01-27:
I just LOVE it when people take responsibility for their own actions.
Posted by Anonymous on 2010-01-27:
So do I and I REALLY LOVE people that respect other people's opinions besides their twisted ones!!!!
Posted by Anonymous on 2010-01-27:
Gratz on the Green, TB
Posted by Anonymous on 2010-01-27:
Tennboy1981, Your mistake wasn't poor book keeping but rather poor business decisions.

Consider that an ING orange savings account pays 1.25% interest which of course is taxable and lets assume a low ball tax rate of 20% which means after taxes you're netting 1% on your savings. That comes out to 10 dollars per thousand. My first question is why in the world wouldn't you at least leave yourself a thousand dollar buffer in your checking account seeing that it would only cost you 10 bucks in lost interest while at the same time provide considerable protection from $35 a pop overdraft fees. That just make sense.

My second question is why do you choose to stay with TD Bank? What is it that they offer that makes them a good choice? I bet if you look around you can find a local bank offering rewards checking which pays at least 3.5% on checking account balances up to $25 K which is far more than the Orange pays. This will allow you to maintain a healthy checking account balance without losing interest. People can obsessively fondle their check book register 24/7 but it by no means provides the OD protection that an average daily balance of $20,000 dollar does.

Like I always say, Today with so many better options available to handle your banking needs why in the world would anybody RISK doing business with the likes of one of these big corporate banks. It makes-a-no sense.

Very good review!
Posted by MissMae on 2010-01-27:
This is a great review that captures personal responsibility when one makes an error...but is quite different then a lot of the complaints on here about banks reordering debits, delaying cash deposits, etc..in order to maximize fees from customers. Most of those consumers don't deny that THEY made an error, their complaint is around how the bank decided to penalize them.
Posted by Anonymous on 2010-01-27:
Just for the record: Cash deposits are never delayed, at any bank anywhere, at any time, notwithstanding a human error. Fed regulations specify immediate availability for cash deposited with a teller.
Posted by goduke on 2010-01-27:
We're all actually missing the biggest question of all:

Which game did you buy?

Posted by Anonymous on 2010-01-27:
oh agreed Stew. It was an honest mistake. You are right, I ended up paing 35 dollars to probably make about 10 dollars a month. Stew, Ive shopped around for high interest checking accounts. I really can't find any checking account offering 3.5%. What bank is paying 3.5% these days? I can't even find a CD that offers more than 1.5%.

The reason I bank with TD, is because I liked their hours. They are open 7 days a week, and have the most flexible hours. They were also located everywhere in the Norheast PA area, where I used to live. I no longer live in the PA area, I moved to Myrtle Beach. THe only reason I still use them now, is because I have a direct deposit that goes in weekly and didn;t really want to go through the hassle of trying to change it around to my new account down here, taking the chance to have a huge headache on my hands. So I just kept that account open.
Posted by Anonymous on 2010-01-27:
TennBoy, South Carolina Bank and Trust has a rewards checking account that pays 3.25% interest on the first 25K. Check it out.

http://www.scbtonline.com/
Posted by Anonymous on 2010-01-27:
Stew, dont quite have that much saved up yet, which is probably why I can't find interest rates like that. SOme day though :) Goduke, I bought the game Left4dead 2.
Posted by MRM on 2010-01-27:
Posted by MRM on 2010-01-27:
That an awesome game! I tried to download that game from torrent but the file is too large to download (6.0 gigs).
Posted by Anonymous on 2010-01-27:
Yeah its pretty good.
Posted by Anonymous on 2010-01-27:
Tenn -- You get paid 3.25% on the first 25K that is on any balance between $0.01 and $25,000. Any balance in excess of 25K you get less than 1%. All you need to open the account is fifty bucks.

These rewards checking accounts are awesome deals. Far better deals than offered by any of the big corporate banks. People need to check them out.

I love my rewards checking not just for the interest but also because I get ATM fees refunded up to $25. I hate ATM fees. There's really good choices out there to handle people's banking needs if one would take a second to shop around.
Posted by Anonymous on 2010-01-27:
hmmm....Im definitely going to look into that, thanks Stew.
Posted by Anonymous on 2010-01-27:
I am not trying to take away from your experience, but I hardly see how this is an informative company review. The bank didn't do anything extraordinary for you.

"I take RESPONSIBILITY for my actions. - Insufficient funds fee" This is a review on you and what you did.
Posted by PepperElf on 2010-01-27:
it's informative because it shows that indeed most issues of NSF do arise from mismanagement of personal funds


and yes many people chalk their NSF issues up to a "small mistake" on their part and that the bank should just ignore it.
while if the bank made a "small mistake" with their funds ... well you know there'd be screaming rants here about how evil the banks are etc.

people want all the pleasures of finances and unchecked spending
without the responsibility of managing them
and without having to acknowledge that there are consequences of not managing your own money
Posted by Anonymous on 2010-01-27:
Okay, so we're saying the bank did what their policy states and he is not complaining about it. I guess I am the "Chuck" of this review. The bank enforced the policy, he got charged for overdrawing, which according to the bank and everyone is what should have happened. I don't see this as informative. I see it as the OP giving himself a pat on the back for paying the fee. That's My3Cents and no one has to agree with it but I am voicing my opinion.
Posted by MissMae on 2010-01-27:
I'm with you on that ProC...my response was similar. I still stand by the ones that post complaints because some banks play dirty...and yes, I've read reviews where banks delay a cash deposit. It might be federal law that they can't, but obviously it's been done.
Posted by Anonymous on 2010-01-27:
"I've read reviews where banks delay a cash deposit."

The only time there might be a "delay" is if the customer did a cash deposit after cutover. Cash is immediate, but if you make a cash deposit after cutover, it won't cover anything nor post until the next business day. Cutover, meaning the bank cutover to the next day. So, while it's Wednesday to the world, banks are now on Thursday's business day. So, it would be like a customer went in Thursday and made the deposit.
Posted by Skye on 2010-01-27:
We use 1st Bank, of Colorado, and for 10 years I have never ever had one problem.

Posted by Anonymous on 2010-01-27:
I never understood that cutover stuff. Why did they do that? The cutover date should be after the bank closes for the day. Not half way through. I think thats so bogus.
Posted by Anonymous on 2010-01-27:
"I've read reviews where banks delay a cash deposit. It might be federal law that they can't, but obviously it's been done." Just because you read it doesn't make it true. Have you never seen the National Enquirer?
Posted by Anonymous on 2010-01-27:
If you make a cash deposit after that business day's cutoff it won't post until the following business day.
Posted by Anonymous on 2010-01-27:
Agreed, ZZ. I've had a bank hold a cash deposit made after their cut-off time. They considered it the end of their business day. Pretty shady if you ask me.
Posted by Anonymous on 2010-01-27:
I always check to make sure that it will be posted that day and they always have this procedure clearly posted in the banks.
Posted by Anonymous on 2010-01-27:
"The cutover date should be after the bank closes for the day."

There was a time when banks closed when it was cut off time. But, too many people griped and moaned about it because they weren't able to get to banks on time because of work. Therefore, banks stay open later now, even after cut over. And the cut-over time isn't the same in every state. Like, Texas, for example is at 4pm. Where as, somewhere up North is 2pm.
Not only do banks cut over to the next business day, but so do merchants.
All banks have their cut off times in the disclosures you receive when you open a bank account. Not only that, but receipts you receive from making deposits should also tell you when a deposit will be available.
Cut off times aren't some new fandangled thing. It's been around for awhile now.
If banks didn't have paperwork to send to processing, the cut over times would be at the end of the operational hours. But, the paperwork has to make it to processing at a certain time, the couriers have to have it on the plane to make it to processing by that certain time... hence why there's cutovers in the middle of the day instead of at the end of the bank's business hours. Though, Bank of America, is the only one that I know of that closes their doors when cutover happens. At least, it does here. I don't know about the rest of the world.
Posted by Anonymous on 2010-01-27:
Zz that's because you didn't deposit it until the next business day. It is immediately available on the day of deposit, the fact that it was after cutover doesn't make it 'held'.

As BKK notes, there has to be a cutover because banks are no longer 9 - 3 businesses. There is a very specific window in which clearing work has to be at the Fed, and it takes a certain amount of processing time to get it ready and delivered. Back in the old days, when there was no cutover, the bank would have closed at 3 and your deposit wouldn't have been made until the next day anyway, or maybe longer if you have a problem getting to the bank before 3.

In many banks, even after cutover, you can request that they memopost the cash deposit. Doing so will make it immediately available at POS and ATMs. It is an extra step though, and they won't do it unless you request it.
Posted by Anonymous on 2010-01-27:
Not all banks operate that way. If you make deposit at my bank when they are open then the deposit is immediately available unless there's a hold placed on the deposit which they've never once done to me. I guess my bank is special in that they have them there fancy computers that allow such things since them early cut-over times are a throwback to the days of manual ledger posting. I wonder when them big ole national banks will modernize their equipment as to catch up with the local guys.
Posted by Anonymous on 2010-01-27:
Ken, I know that but obviously some don't.

Posted by Anonymous on 2010-01-27:
My interpretation is clearly wrong, but if I deposit cash and I don't have access to it via my atm or debit card or a check cannot clear using those funds, then my cash deposit is being held by someone and it isn't me.
Posted by PepperElf on 2010-01-27:
i know it usually takes about a day to see the funds online at my bank

but you know what... i just budget my spending with that in mind

an ounce of prevention really is worth more than a pound of cure
Posted by PepperElf on 2010-01-27:
now if you want to see a TRULY crappy ATM system try using the "Shipboard ATMs" in the Navy.

Minimum of $5 to put into the account and you can have split-pay where a specific amount of your paycheck is diverted into your account on the ship. (a bonus for married personnel w/ financial planning).

The problem is, on my second ship, whenever they miscounted or couldn't balance the cash inventory they had to re-count it. So in order to do this they would shut the system down. Only ONCE dd I convince them to let me have some of my money when the system was shut down.

So the money is legally yours but because someone there couldn't get the inventory right you're now allowed to access your money until they get the count right.

It got to the point where it was happening every payday. The money would be there for a day and WOOPS gotta recount!

On my last ship I was so disgusted with it, I didn't even apply for the account. I used checks.
Posted by Anonymous on 2010-01-27:
I totally get your point Pepper, proper budgeting, proper care and so on... but I am sure you get where I am coming from.
Posted by MissMae on 2010-01-27:
Whoa! No reason to be rude, KenPopcorn, just because someone disagrees with you...clearly you can see by posts following mine that cash deposits do get delayed. And clearly you can see by Stew's comment, that some banks do post cash deposits immediately, even if it's after "cut off" time. I know I know, it's written out in the terms and conditions of which banks do and don't hold on to cash deposits made after "cut off" time. The point is, and I will stand by it, cuz I read it in the NE of all mags (sarcasm intended)...big banks are practicing shady business practices in an effort to maximize the amount of fees they can squeeze out of their customers.
Posted by Anonymous on 2010-01-27:
I did not really see where Ken was rude..

Posted by DebtorBasher on 2010-01-27:
MissM vs. MissM ! ! !
Posted by Anonymous on 2010-01-28:
oh, I wanted to update about my TD Bank experience. So today I check my account and low and behold, ANOTHER 35 dollar charge was being put on my account. I thought to myself. WOAH now wait.......I understand now why people write complaints on here about these fees. I called the customer service line and spoke to a nice young woman who explained to me that all the debits are taken out from largest to smallest, regardless of which one was debited first.

This is a bit deceptive since if they take out the largest debit first, then the subsequent debits will each be deducted and cause another overdraft fee.

I bought a 4 dollar shirt ad goodwill first, and then went to sears to buy my game. So The game took me over my limit, and THEN the shirt was deducted causing ANOTHER fee.

I politely explained to her mt situation and that I didnt think it was fair that I got 2 charges. I politely asked her if she would take one of the fees off, and she said no problem. She took one of the fees off as a courtesy. No argument. I was not hostile. I was polite and courteous as she was to me.

So the lesson learned is simple. Don't overdraw your account and you don't have to go through this mess.
Posted by Talk360 on 2010-02-15:
Tennyboy i wish life was as simple as dont overdraft your bank account & you wont go though this mess. Truth is we can do everything right all through out our life but there will always be some one else on the other end playen tug a war with you. If people are going to complain about an overdraft fee than let them know that they learned what not to do next time. Honestly i dont think people complain about overdrafting (they know,they did it)that makes them mad, but the fact that the charges amplied are so high. Most people want to pay there bill & move on.
Posted by Anonymous on 2010-02-15:
Talk360...you are mistaken when you say they know they did it. Read a few of them and you will get the theme of them all that the reviewers believe they are not in the wrong at all.
Posted by DebtorBasher on 2010-02-15:
Agreed Judge, also they are aware of how much they are charged for the fees when they open their account, and are notified if it changes.
Posted by TDBankRippedMeOff on 2010-07-11:
It's not about irresponsible customers of TD Bank. TD Bank complaints are about excessive fees compared to other banks or credit unions. Does TD Bank offer an interest bearing, free checking account, that has a $500 line of credit available? My bank offers this account. Can TD Bank compete with that?...crickets...
Posted by octoberraain12 on 2010-07-18:
TD Bank offers a free checking account if you keep 100 dollars in it, and you can tie overdraft protection to it. Does not bear interest but at .05% who cares!!!!
Posted by Michelle on 2013-12-04:
While I respect you're "perfect" way of thinking...you missed the point entirely. Nobody is trying to blame TD Bank for their own mistakes. TD Bank continues to use shady unethical systems to get more and more money from hard working people. And I can tell you they will NOT care about you or how long you have been with them. But good luck.
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Poor poor service
Posted by Tickedoffinmassachusetts on 01/21/2010
My husband and I are in the process of buying 2 condo units directly across the street from our restaurant in Newburyport Ma. TD was ready willing and able. Being a homeowner for over 30 years, excellant credit,
pay extra on first principal and putting 50% down. After 20 days of loan processing between Maine and Massachusetts TD locations the loan was turned down because the condo assoc. does not according to its attorney fill out bank questionaire's, they knew this on th 7th of Jan and told me on the 15 that all I needed was a letter confirming my child support and the down payment, nothing more was said about the questionaire until the20th. Very dissappointed, branch level untrained, miscommunication between receiving, processing etc. Stay clear of TD Bank. Terrible TErrible service to someone who has done business with them for 15 years.
     
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Posted by Anonymous on 2010-01-21:
Shouldn't your complaint be against the condo association, who seems to have shot you down by not submitting a questionnaire? If a bank can't get the requisite paperwork, they can't write the loan.
Posted by jktshff1 on 2010-01-21:
Just a question, but why would the bank need a questionnaire filled out by the condo assoc unless they are on the loan?
Posted by Anonymous on 2010-01-21:
Things like: how many units, how many are owner occupied, how many are in foreclosure, things like that. In other words, the bank needs to determine that they aren't about to finance property that may not have the value to cover their investment. It's pretty standard.
Posted by jktshff1 on 2010-01-21:
Would not an appraisal from a third party cover that?
Posted by Anonymous on 2010-01-21:
Yeah seems like this complaint should be against the condo association. I've never tried getting a loan with them, but I bank with them and never had a problem. I love TD. Their hours are awsome.
Posted by moneybags on 2010-01-21:
I am a realtor and have sold many condos. This is very standard. Condo associations are required by mortgage underwriters to provide information regarding construction, roof and age, condo fee and what they cover, insurance coverage on the buildings, etc. This is to protect themselves as well as the customer.

Try to reapply for the mortgage and make an appointement with either the association president and/or manager. The form will either have to be mailed, emailed or faxed to the mortgage company. It's just part of the process and the denial of the loan was the fault of the condo assocation, NOT the bank!
Posted by jktshff1 on 2010-01-21:
Thanks
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Debit Card Fraud
Posted by Banker on 11/25/2009
My son and I have a joint checking account at TD Bank. My son's debit card was compromised. He filed a complaint, that was denied by TD Bank. They advised him to hire a private detective. Obviously, this was their way of brushing him off. He did everything they asked him to do, including filine a police report. They declined his case, implying that someone who knows him must have compromised his accounts. I plan to file a complaint with the OCC, but feel that will not make a difference with TD Bank. Is there any other agencies I can file a complaint? My son is willing to take this matter as far as he can, including legal actions, if he can get free legal assistance.
     
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Posted by goduke on 2009-11-25:
Your local bar association may have a service where your son can get an initial consultation about a matter for free or at a very minimal cost. Many of the bar associations have such a service. Give them a call and ask about it.
Posted by Anonymous on 2009-11-25:
Banks are insured against this kind of loss, so for them to have denied the claim means that they had pretty good evidence that it was not a legitimate claim. You'd be amazed how many times someone will claim and rant and rave that they did not make a particular ATM withdrawal, until confronted with the photo that the machine takes each time a withdrawal is made. Before you get a lawyer involved, be absolutely sure that you are getting the whole story from your son.
Posted by misty13572002 on 2009-11-30:
It's so funny the same thing happened to me on november 21, 2009. Right now I'm still waiting to see what they say.
Posted by TamikoByrd on 2009-12-30:
This is horrible and I’m so upset and saddened by TD Bank that I want to scream. Banker it’s so strange that this is happening to you because almost the same exact thing is happening to me. I was the victim of Debit Card Fraud and after filing the Reg-E form on December 17 2009 I was assured by Bruce at the Fordham road branch that this type of fraud is easy to solve because they can pull the video from the ATM. I did everything they asked me to do including a police report. Yesterday I was told that my claim was denied because of some b.s guideline I spoke to Wendy Parent in the fraud department who basically told me that there is nothing they can do that they do not actually have the power to request the video from an ATM. That I would have to contact the precinct and the detective that filed my report and have them request to have the video pulled. I thought that was kind of strange but I trekked down to the Precinct again and was told that I was given misinformation that the people/institution investigating the claim has to be the one to request this because it would be a subpoena on the charges of grand larceny and it would have to go through the supreme court. I was floored I called back and left messages with Wendy Parent, M. Mooney (who’s on vacation) and Jenn Logan (also on vacation) I have gotten nothing. This is highly misleading to say the least. KenPopcorn they have nothing called evidence. It’s called screwing the general public into thinking that they actually give a rat’s ass what really happens to them. One would think it would be a fair practical resolution by having the video pulled and looking at it but as I was told if it was one of TD Banks own machine there would be no problem but since it is NOT it’s generally a hassle for them to go through and its time consuming and costly. If and when they look at the video they will see it wasn’t me and I would love to know who it was. Read this http://www.pirg.org/consumer/banks/debit/fact.htm
I’m filing a report with PIRG with the OCC and the Federal Reserve board. I’m also copying every single ceo and board member on my complaint starting with Stan Kadelski who is the vice president of debit card fraud investigation. If they can’t do anything to protect the consumer like look at a silly little video then what’s the point of having a Bank?
WHERE TO COMPLAIN: a) If you cannot resolve a debit-card related problem with your bank, you should write to:

Federal Reserve Board
Washington, DC 20551
b) In addition, send copies of your complaints to PIRG.
U.S. PIRG
218 D St. SE
Washington, DC 20003.
Phone 202-546-9707
E-mail: webmaster@pirg.org

Oh yeah read this it’s a letter from the OCC:
AL 2001-9
Advisory Letter
Subject: Electronic Fund Transfer Act--Investigations of
Unauthorized Transactions
Date: September 7, 2001

To: Chief Executive Officers and Compliance Officers
of National Banks and Federal Branches,
Department and Division Heads, and Examining
Personnel

This advisory letter reminds bank management of their
obligations under the Electronic Fund Transfer Act (EFTA)
and Regulation E. The OCC wishes to ensure that national
banks fully comply with the EFTA's error resolution
requirements and that they conduct adequate investigations
of claims of unauthorized transactions.

The purpose of this advisory letter is to assist banks in
addressing the compliance and reputation risks of
inadequate investigations under Regulation E. Regulation
E requires financial institutions to investigate promptly
errors that occur as a result of electronic fund transfers,
including unauthorized transactions (12 CFR 205.11).
Section 909(b) of the EFTA establishes that the burden of
proof is on the financial institution to show that the
transaction was authorized. Conducting good faith,
reasonable investigations can help national banks satisfy
this burden of proof. The OCC notes that the EFTA
provides for treble damages in legal actions filed by
consumers if certain factual circumstances are present.

The OCC is concerned that some banks may be rejecting
claims of unauthorized transactions solely because the
customer's Automated Teller Machine (ATM) card or debit
card and personal identification number (PIN) were used
in the transaction, and the customer supplied no
information indicating that the card or PIN was
misappropriated. These facts alone may be insufficient
to establish that a transaction was authorized because
fraudulent means may have been used to obtain the
customer's account number, card, or PIN. For instance,
the customer may have been a victim of "shoulder
surfing," a practice used by criminals to obtain account
or card numbers or PINs by observing customer transactions.
Therefore, banks cannot assume that they have satisfied
their duty to investigate simply by concluding that the
customer's debit card and PIN were used in the
transaction at issue. Rather, banks must take steps to
investigate whether there are indications that
unauthorized use occurred.

To assist national banks in complying with EFTA and
Regulation E error resolution procedures, the OCC has
compiled a list of actions banks may take to help
determine whether a transaction was authorized. A
reasonable investigation under Regulation E might include
review of one or more of the following items:

• Documentation or written, signed statements provided by
the customer.
• Historical information on the customer's pattern of use
(e.g., time, frequency, location, and types and amounts
of transactions).
• Location of the transaction in relation to the customer's
residence, place of business, or normal shopping
locations.
• Customer's location at the time of the unauthorized
transaction.
• Problems reported by other customers regarding the
access device or ATM.
• Signature information on point of sale transactions.
• Police reports, if available.
• Film from security cameras, if available.

A national bank's duty to investigate errors is triggered
by any oral or written notice from a consumer that
satisfies 12 CFR 205.11(b). This section requires the
consumer to report an error no later than 60 days after
the institution sends the periodic statement or provides
the passbook documentation on which the alleged error is
first reflected. Additionally, the consumer must give
the institution sufficient information to identify the
consumer's name and account number. The consumer must
also indicate why he or she believes an error occurred
and, to the extent possible, the type, date, and amount
of the error. The institution may request a written,
signed statement relating to a notice of error, but it
may not delay initiating or completing an investigation
pending receipt of the statement (12 CFR Part 205,
Supplement I, Official Staff Interpretations,
11(b)(1) -- 2). A national bank may request a customer's
reasonable cooperation in any such investigation.
However, it may not deny a claim of error based solely on
the cardholder's failure to comply with such a request.

The institution is generally required to determine whether
an error occurred within 10 business days and report to
the consumer within 3 business days of completing the
investigation. If the institution cannot complete the
investigation within 10 business days, it may take up to
45 days to complete its investigation if it provisionally
credits the account within 10 business days. The
institution has 1 business day after determining that an
error occurred to correct the error. If the institution
finds that no error occurred, it must give the consumer
a written explanation of its findings.

If you have any questions regarding this advisory letter,
you may contact your supervisory office or the Community
and Consumer Policy Division at 202-874-4428.




_______________________________
Ralph E. Sharpe
Deputy Comptroller
Community and Consumer Policy


Posted by Joe on 2013-09-24:
We have two different TD Bank Visa Debit cards in our home. The first was comprimised about one month ago by someone in Maryland. This week our second card was comprimised in Texas. TD handled the first card promptly, I'm waiting to see how they handle the latest before I take my business someplace else.
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TD Banknorth Shifts Your Transactions In Order To Charge More Overdraft Fees
Posted by Totally angrhy on 02/06/2009
CONCORD, NEW HAMPSHIRE -- For several months I have incurred approximately $2000 in overdraft fees. The bank insisted that I use my check register rather than rely on my online banking. Since then I have collected every receipt and kept a "register" on Quicken as well as balancing all check registers, and comparing to my account online. All has gone better, until today. Before I went to bed last night I checked my online account (knowing it agreed with my Quicken register. Five items had cleared leaving a balance of $519. I ordered online an item for $578 knowing it would not clear until today when my husband's direct deposit would clear. When I looked at my account online today I had "pending" transactions which included my item for $578, my husband's direct deposit for over $1000, and unbelievably an overdraft fee for $70. I screamed and then proceeded to call the bank. Speaking with a supervisor it was explained to me that even though the vendor had not received his $578 it was still promised to him and therefore shown as being taken out of the account, however, it was in PENDING. So, I continued to ask why the $70 overdraft fee when only one item was overdrawn. Her response was that bank policy states that the largest amount posted for that date gets deducted from the balance first. Now I am really outraged because they choose where to deduct the larger dollar amount resulting in more overdraft charges.

This is definitely a game they are playing with my money. It makes me wonder how many of the $2000 charges I received were because of the stealing they do by playing with our money. I am now looking for a new bank. We have six accounts with this bank.
     
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Posted by madconsumer on 2009-02-06:
"I ordered online an item for $578 knowing it would not clear until today when my husband's direct deposit would clear."

days of floating paymnets is over. all online transactions are secured immediately, not the next day when the direct deposit goes in.
Posted by yoke on 2009-02-06:
You knowingly charged something onto your account that you know you did not have the funds for and yet you want to blame the bank?
Posted by old fart on 2009-02-06:
The bank isn't "playing games" with your money... YOU ARE!
Posted by jesma42 on 2009-07-19:
And these are the things I have to deal with everyday!!!!!! I love my job!!!
Posted by watch dog on 2010-01-12:
my husband military direct deposit was floating yes floating it was suppose to go in imediatly and td floated and admit the see it and it is there its floating yet they bounced cks with the money in there bank I agree they are deceptive in there practices I asked at 7 am if there was a problem with the acct they said oh no and I added extra money just in case something came in so I had more then enough in acct they didnt post the transfer from one act to another they held it and bounce the acct and took all the money I deposited called it a dept authorization I called and they fixed it and called it a acct fee reinversment so they are playing fee games and they are unfair. I have had an acct for 40yrs with the original bank and my great grandparents were founding depositor's of Andover saving the community saving which TD hostile take over and the fees and shady policies so the persons right they are out to take your money
Posted by PepperElf on 2010-01-12:
yeah floating checks isn't good
these days you're more apt to have that practice bite you in the butt

cos if you're writing checks and actually floating them then you know you're writing a check without the immediate funds to cover the check.
Posted by Anonymous on 2010-01-12:
Your bank clears your direct deposit when the funds are released by the depositor. My DD goes in on Wednesday night, my payday is Thursday. I can not use my money until Thursday. It shows pending on Wednesday. If I use my card on Wednesday, I get a fee and rightly so.

STOP spending BEFORE your deposit clears and you will have no problem.
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Harassed by TD Bank by Phone
Posted by ResearchGuru111 on 09/21/2013
WINNIPEG, MASSACHUSETTS -- I've never had issues with paying for my TD Visa in the past, but this year has been difficult. My husband and I have actively been searching for work with no luck and had to use our credit cards to live on. I just received a letter from TD that I can no longer use my credit card and that a retailer has the right to cut it up in front of me, if I try and use it. I also have been plagued by TD calling our home at least 25+ times a month, and every Saturday between 7:30-8-30am! NOT COOL! I've had my TD Visa for over 10 years, and because I haven't been able to make a payment in a few months, this is how I'm being treated...despicable. Once my husband and I are back up on our feet, I will be switching banks because I don't deserve this crap their giving me.

I'm fed up. No compassion at all..If anything, they've heightened my stress level by +10 from their harassment. I hope that they loose every customer they have. They don't deserve to be in business, if this is the way they treat their long term customers.
     
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Posted by cmthru on 2013-09-24:
I sympathize with your financial situation. However, I cannot blame TD bank for harassing you. They have every right to demand payment as you have used their credit facilities and not made any payments. They are doing what any bank would do to recover the credit extended to you. If you had changed banks and made no payment them the same harassment would apply.

Not sure if you are in the US or Canada. If you are in the US you can write them a letter asking them to stop the phone calls and demanding all further contact via mail. A least the phone calls would stop.Canada probably has similar credit laws, you'll have to research that.

You could be proactive and call them to explain your situation and maybe work out some sort of payment plan.

I hope you and your husband will soon get back on your feet.
Posted by Logical Sense on 2013-09-24:
If you abide by their terms of service which you agreed too when you took on the credit card, they are not obligated to allow you to continue to use credit when you aren't paying it back.
Posted by CU on 2013-09-24:
Yes it sucks, and sorry about your job woes, but this is how it works. It will get worse if and when they charge you off, because the collection agencies will start, and they are merciless. If you can get them to work with you, it will be a lot less stressful, but you are going to have to have some give on your end too.
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Incompetent Loan Officers Abound at This Bank.
Posted by Jcromin32 on 08/23/2013
PUTNAM, NEW YORK -- Went for a loan at this bank in NYC. Lost all essential documents the first week. Asked us to resend. Got mad at them but did it anyway. Found out one of the loan officers took our confidential information home with them. Found out about this when she called us from her house to say she found the packet and heard a baby crying in the background. They talked about each other incessantly. Stuff customers are not suppose to hear. I don't like her, this one doesn't know what they are doing. For that alone, I would never bank here. It's too big. They just don't care.
     
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Posted by Soaring Consumer on 2013-08-24:
File a police report and file a complaint with all appropriate regulatory agencies, it is a serious breach of your rights for a bank employee to leak and or remove confidential information from the premises of their facilities.
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