I have been a victim of TD Bank as well. I signed up for free checking w/ no minimum balance, and then lo and behold they change the rules. That is not the contract I signed up for. If they had at least informed me I would have closed out the account before I had fees that I had no knowledge of put me in the negative on this account I hardly ever use. It is used for specific purposes. I have also had money stolen for OD fees when there was actually a balance to cover any activity. I have had quite enough.
I did not realize and should have, that TD Banknorth is a Canadian Corporation. I have a practice of only doing business with American companies and corporations – not that they are any better these days. The American consumer has become so complacent and apathetic, allowing these companies to treat us a door mats. This consumer says not anymore. Banknorth lost a lawsuit back in April, costing them $50 million; perhaps this is why they have begun these predatory practices. They would have been far better off to not conduct business in such a way that it put them in the position to lose such a lawsuit.
For all of you complaining on this and other boards – do more. Email everyone on your contact list; tell everyone you know to beware. Complain to the FDIC, BBB and AG if applicable. Bad word of mouth can be very damning to a company. Email everyone in the company that you can. Call everyone in the company that you can. Do not take no for an answer – you can and should fight back. By calling executives and the like you are costing the bank money. These people are highly paid and the time spent with dissatisfied customers is time away from what they consider more important business, business that generates high revenue for the bank.
Below are email addresses for executives of TD Bank. I will be posting some Blackberry and office numbers of these executives in a few days. Call them, bother them, cost them money – after all they are taking yours. Stop being a victim! **. I will be more than happy to post their blackberry and office phone numbers in the next few days - check back.
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, excellent 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 questionnaires.
They knew this on the 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 questionnaire until the 20th. Very disappointed, 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.
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 filing 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.
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.
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:
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.
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.
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...
TORONTO, ALABAMA -- Do not ever do any business with ** - Telephone: **. 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 paperwork 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 paperwork 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.
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.
CHERRY HILL, NEW JERSEY -- My mortgage on a secondary home in Ocean City, NJ was declined because the condo association did not have guaranteed cost replacement coverage and the two units (I owned only one) were rented out for the summer. While TD's decision is fine, my consider is that they had this information from day 1.
So why do we continue the process if these two items were not going to change. Instead for 90 days they ask me for additional information, we get an appraisal, I follow up, etc. Just trying to get a hold of a "live" person was painful. Note the original mortgage on this home was provided by Commerce Insurance who TD purchased. The insurance piece was funny as well because the insurance is with TD Insurance and they could not provide this coverage. Overall a very difficult process, which lead me nowhere.