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I take RESPONSIBILITY for my actions.
Posted by on
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 I've banked with them for a while. If not, I'm not going to be upset, I'll deal with the consequences. It was MY fault, no one elses. People need to realize this.
     
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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 I've made on that day.
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!
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!
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.
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.
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!"
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.
Anonymous on 2010-01-27:
It'll always be Boston Gardens to me, GD
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!
Slimjim on 2010-01-27:
What a refreshing review. Someone who gets it.
PepperElf on 2010-01-27:
VH review!!

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

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

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

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. :-)
Anonymous on 2010-01-27:
Tenn, would a "fannypack" help?
*joking* (VH)
Anonymous on 2010-01-27:
oh god no.
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 receipt and put it in your reg. book when you get home.
Anonymous on 2010-01-27:
I just LOVE it when people take responsibility for their own actions.
Anonymous on 2010-01-27:
So do I and I REALLY LOVE people that respect other people's opinions besides their twisted ones!!!!
Anonymous on 2010-01-27:
Gratz on the Green, TB
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!
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.
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.
goduke on 2010-01-27:
We're all actually missing the biggest question of all:

Which game did you buy?

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, I've 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.
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/
Anonymous on 2010-01-27:
Stew, don't 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.
MRM on 2010-01-27:
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).
Anonymous on 2010-01-27:
Yeah its pretty good.
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.
Anonymous on 2010-01-27:
hmmm....I'm definitely going to look into that, thanks Stew.
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.
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
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.
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.
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.
Skye on 2010-01-27:
We use 1st Bank, of Colorado, and for 10 years I have never ever had one problem.

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 that's so bogus.
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?
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.
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.
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.
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. Whereas, 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 a while 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.
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.
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.
Anonymous on 2010-01-27:
Ken, I know that but obviously some don't.

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.
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
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 got to recount!

On my last ship I was so disgusted with it, I didn't even apply for the account. I used checks.
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.
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.
Anonymous on 2010-01-27:
I did not really see where Ken was rude..

DebtorBasher on 2010-01-27:
MissM vs. MissM ! ! !
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 didn't 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.
Talk360 on 2010-02-15:
Tennyboy I wish life was as simple as don't overdraft your bank account & you won't go though this mess. Truth is we can do everything right all threw out our life but there will always be someone 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 don't 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.
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.
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.
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...
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!!!!
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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TD BankNorth: What A Nightmare
Posted by on
NORTH ADAMS, MASSACHUSETTS -- I had an account with TD BankNorth for several months. There were times I went into the negative and paid the ridiculous overdraft fees. This one time however I just cannot get over.

I had $220 (about) in my account and I went to an ATM Machine to take out $200. The ATM sat there for about 5 minutes before saying that it was not able to complete the transaction. I thought maybe there was a communications error while the ATM was talking to my bank. I tried again, I got the same issue. I said OK and went on my way without any money. I just used the card as Debit at the cash register when checking out.

The next day I found myself about $500 in the negative and was wondering how. I looked at my statement to see that the ATM did in fact take $400 out of my account, along with 2 $1.75 fee's. I called my bank to immediately dispute the charges.

I also used an ATM at another location trying to take out $20 and it would not let me, I then tried again and it let me. It charged me for both $20 transactions when all I received was 1 transaction.

I immediately stopped my direct deposit on the account as I could not just watch my paychecks vanish into this banks fee's.

I spoke with a customer service agent and he said don't worry when they get all of this fixed they will correct my account.

A few weeks went by which caused other things that were still outstanding to hit my account, be returned and access more fee's.

A few weeks later they finally credit my account $400 plus the 2 ATM fees. This is all fine and dandy but what about the fees that they have accessed on my account to date? They stated that they were not going to remove those because had I had funds in the account to cover those items I would not have those fees... So wait you mean I should put money into the account to cover all these outrageous fees that were not supposed to happen in the first place.... They said if I did not stop my direct deposit the fees would not be in place. I stated if I did not stop direct deposit I would not have money to provide for my family.

By the end of everything (last statement I saw) the account was $900 overdrawn. The bank called me asking me to resolve the issue and I told them point blank. "I have no problem paying for the items that were processed through my account which are valid. I am not however going to pay for all of these overdraft fees that were put there due to this issue." They said that was not good enough, I had to pay it all to put the account back to a 0 balance.

It has been awhile now and they have an entry in Chex systems for this. They also assigned it to a collection agency who tells me the balance is now $1200 (estimated). I laughed and he asked what I was laughing about. I said it was $900 when they froze the account. Where did the rest come from. He said probably fees. I told him to stuff it just as I had TD BankNorth. I am not going to hand them money just because they say I should. It is outrageous!

This issue has still not resolved. But how nice I got a call from the collection agency again stating oh we'll settle for $900. I again stated no you will settle for no more than went out on the account which I am liable for. I admit things did hit the account which TD BankNorth did pay out. I will cover that without a problem what I will not cover is all the fees they accessed on the account while they were doing their investigation. I could not use my account so why should they access fees?
     
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Anonymous on 2008-10-06:
Two things you should do immediately: first, make sure that you send the bank the money that you legitimately owe. Don't give them any legal grounds to go after you. Second, file a small claim suit. Ask for triple damages (which is allowed in Massachusetts under a 93A claim) for unfair or deceptive business practices. This should get them off your back quickly.
yoke on 2008-10-06:
That is scary that a bank can do that to you and then put all the blame on you. I know when I had a similar problem with my CU it was taken care of within hours. The ATM was empty of cash, but I got a receipt stating I had gotten my funds. When I contacted the CU they knew immediately what had happened.
DigitalCommando on 2008-10-06:
Ken, good advice as always.
yoke, ever since I switched to a credit union a year ago, I just can't say enough good about them. No charges for practically anything, immediate rectification of problems without all the corporate policy bs, and if that were not enough, they actually remember my name when I enter! All of the reasons which I stayed away from credit unions is now all the reasons I stay there. The difference is night and day.
yoke on 2008-10-06:
DC, I agree. I love my CU and the service is great. My sons high school finance class is getting a tour of the CU this week. The big banks in the area did not want to be bothered.
Anonymous on 2008-10-06:
Any future communications you have with any bank should be followed up with a letter, whether it be a disbute or a summery of a telephone conversation and what was agreed to with as much detail as possible. Don't rely on the CS agent making any notations on your account. More often than not it won't happen. You have to create your owm CYA paper trail.
By placing your disbutes in writing, certain regulations kick in and the bank has a certain time frame to resolve the issue and you, as the customer, can reserve your rights against the bank
Anonymous on 2008-10-06:
Why thank you DC! :{)
jcrawford on 2008-10-08:
I would love to send them the money I in-fact do owe them aside from the fee's however they have closed my account, I cannot get the online statements and that will not give me an amount aside from that including fee's, they won't give me a break down just the total $1236 or whatever it is.
jcrawford on 2008-10-08:
Ken,

I've never had to file small claims, can you tell me who I need to talk to about doing this? Any attorney or do I do it myself?
jcrawford on 2008-10-08:
I have found some instructions. Do you think it is worth sending a letter to the President, Treasurer, Secretary and Director before filing small claims? I have no idea what I would sue for as I do owe them some money just not the amounts that they state. They have also entered this on my credit report and into Chex systems. I could sue for it to be removed from those and the collection terminated but how do I put a value on that to triple? Also MA states small claims is only up to $2000 and they state I owe $1200 so...
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Unreasonable Overdraft Policy Equivalent To Theft
Posted by on
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 its 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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yoke on 2008-07-29:
What did the bank do wrong?
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.
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?
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.
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.
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.
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.
Anonymous on 2008-07-29:
National banks.....A bad idea! (an excerpt from an ad here in Colorado from like 25 years ago against national banks)
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.
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!
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.
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.
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.
yoke on 2008-07-29:
Then who's obligation is it to pay the bank?
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.
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.
Anonymous on 2008-07-29:
A week? That is a long time. Like you said those days are long gone.
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.
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!
Anonymous on 2008-07-29:
My brother was at Treasure Island for a while. Talk about prime real estate. To bad the bridge cuts through it.
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!
CrazyRedHead on 2008-07-29:
Have you ever gone into a check writing establishment? There is a 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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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 what's 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?
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, even though 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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Harassed by TD Bank by Phone
Posted by on
Rating: 1/51
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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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 due 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.
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.
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 on
Rating: 1/51
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 supposed 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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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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TD Bank Decision to Eliminate Quicken Caused Me to Leave
Posted by on
Rating: 2/51
TINTON FALLS, NEW JERSEY -- I've been with TD Bank for 10 years. I use Quicken to pay my bills. In May TD Bank decided to block Quicken access in favor of their bill pay, which just doesn't work for me. I have 3 checking accounts and one savings account.

- It doesn't show my FUTURE balance, so I have to re-enter in Quicken to determine how much money I need to provide in each account.
- It doesn't track my expense categories (for taxes), Quicken does.
- Since I have to continue to use Quicken to track expenses, I have to re-enter all transactions in Quicken (2nd time is undesired extra work)
- When it updates, TD bank doesn't match all my Quicken transactions, so I often have to correct the TD entry in Quicken (a 3rd time dealing with the same transaction - certainly not desirable)
- It doesn't allow enough time to make notes, I get logged off and have to re-start the entire TD session (Quicken doesn't log me off)
- I have to pay all TD bills in one account, then the 2nd account, and then the 3rd. (Quicken allows me to pay bills from any account in any order)

After trying to get satisfaction, the net result is that both local and regional TD Bank management didn't/couldn't/wouldn't do anything.

Chase Bank allows the use of Quicken direct connect and I'm moving all my accounts over there!!! They were very pleased I'm joining them.
     
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Overdraft
Posted by on
Rating: 1/51
PORTLAND, MAINE -- Upon review of my account, I saw that I had a pending charge that would over draw my account, so I went to the local branch at 8 am and deposited enough cash to cover plus a bit more. Before leaving the branch office, I got a printed receipt showing a positive balance. The next day, I checked my balance to find a $70.00 overdraft fee had been posted, putting me in the negative again.

I called customer service, and was told they would not reverse the fee. I said that was totally unfair as it was in pending charges, I had a paper receipt, etc. Still no. I asked to speak with a supervisor. Who told me she would not reverse the fee, even though I deposited cash, she also informed me that if the account remained negative for 10 days more, they would post another $20.00 fee. I was LIVID.

My employer doesn't offer direct deposit and it will be about 9 days before I'm paid again. I'm looking for another bank...
     
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Old Timer on 2013-06-20:
See if you can find a nice local credit union. They actually appreciate their members and go out of their way to help them.
CU on 2013-06-20:
Once you can see the item, you are already overdrawn. The fact that it is pending only means that the transaction has not finalized. The bank is still obligated to pay the item.

There are very few instances when you can cover the item after it has hit the bank. You have to have the money in the account BEFORE you spend it.

You will probably find a credit union to be a bit more flexible in this, but even there you have to plan on only drawing against the available balance in your account... better yet, in your check register.
Jeff on 2013-06-20:
Do yourself a favor...if you change banks or not, go to your bank and tell them you want to OPT OUT of overdraft "protection". I find it interesting they call it protection when they rape you with those kind of ridiculous fees.....If you opt out, if you use your card and theres no money, it will be declined. Simple. No need to worry about it then. to me, Id rather be embarrassed that my card is declined, and use another form of payment, rather than pay somewhere of almost 40 dollars.
Susan on 2013-06-20:
If you kept an old fashioned check register you would have known before your made the pending transaction that it would result in a overdraft.
Tezrien on 2013-06-20:
I wish more people knew about that little get out of overdraft hell Jeff.
Weedwhacked on 2013-06-21:
The bank is right. The pending charge came before the cash deposit so it gets posted first. You tried the "float" game and lost as many people do.
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TD Mortgage
Posted by on
Rating: 1/51
TORONTO, ALABAMA -- Do not ever do any business with Calvin Chan - Telephone: (416) 567-8198

He is very unprofessional and unorganized. I purchased a house and contacted him right away for a mortgage, He assured me that everything was in good order and he was getting my paper work ready. It dragged on for over a month. Every time I called him or emailed him, he would never respond. When he did, he would assure me everything was fine. Week after week he said the same thing. Still I have not signed any documents. I even offered to stop by his office to sign if he was too busy to come by to my house. He then emailed me and said the paperwork was ready and he would come by next week and have me sign the documents. It is now Wednesday of next week and still have not heard from him. I emailed him and he did not reply. He then called me and said "what paperwork?" he did not have any paper work ready for us, nor did he do anything yet for our mortgage. This is 3 weeks before my closing date. He was making up excuses saying he has other clients to serve that have an earlier closing date than I do. Meanwhile, I contacted him almost 3 months ago and he assured me everything was fine. BEWARE OF HIM. DO NOT DO ANY BUSINESS WITH HIM.
     
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Another unhappy TD Bank customer on 2012-05-06:
I too made the mistake of using TD Bank for my mortgage and also had a problem with the person overseeing my loan.

After Multiple unreturned calls and the run-around I went to the manager and told them to get their employee in line or I would take my business to another bank.

I came to realize after speaking to others who had similar issues that they are a good bank for general everyday banking but are clueless when it comes to mortgages.
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Bank is incompetent
Posted by on
This is the first time I ever used TD Bank, I applied for a Yard Card which is owned by TD Bank, they sent out my first statement to the wrong address so I never received it, I knew to expect it but I was never informed when to expect it.

Called them up to inquire when I can expect my first statement, they then figured out they had the wrong address and claimed they sent it there... but that didn't sway them from reversing a huge interest rate increase on my card which is still costing me hundreds of dollars.
     
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Incompetence
Posted by on
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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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, incompetent, and unqualified.
MF on 2013-06-03:
The worst bank ever, definitely NOT AMERICA'S MOST CONVENIENT BANK at all. Inexperienced personnel and uncaring.
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.
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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