TD Bank Complaint - Mismanagement and Mishandling of Financial Accounts
LEXINGTON, MASSACHUSETTS -- Experience with Td Bank Lexington branch---- staff very deceptive and misleading business practices; refusal to turn bank records and statements to me after they created a major problem by deliberately manipulating money transferred into bank from an insurance contract coming from another financial institution. Someone in the bank altered the account structures and caused tax problems by transferring the funds into a money market account. I had made two large deposits into the bank and had hired financial people-- attorney and an accountant -- to structure the accounts and to also set up business banking. Not one business account was set up. The second branch manager lied and covered up for the first. I could not get a straight answer from them as to what they did with the money and a lot of lying and coverup went on. They have refused to turn over the bank records to me andthe new bank manager in Lexington came up with three pages of statements, not including the large deposits and what happened to the money. They clearly were manipulating the truth and refused to sit down to correct this costing me more money for the lawyer who they refused to communicate with. I then discovered that the lawyer had the bank records as well a sthe accountant and that the branch manager then made a statement that no one subpoened the records. There was q lot of money missing from the accounts. The branch managers seem fairly uneducated with very little financial or business experience. The branch manager blatently lied about this and will not produce the check from the annuity company. I believe that there was collusion going on and that one month after I had deposited another check for 69k into the bank; I was told by the second branch manager that there was 72k in the bank. They have caused a lot of problems with the IRS after the branch manager would not speak with my accountant to resolve this. I also asked her why no business accounts were set up after they were paid to do this-- lawyer and the accountant-- and the response was I don't have an answer for that. Y were avoiding the issue and seem very much concerned with protecting themselves rather than engaging in ethical business practices and serving their customers in an honest way. I have found bank employees to be not qualified, mediocre education, none of them business owners or experience with dealing with high net worth people. They then twist this and refuse to release the bank records. I think that the banks have come under a lot of scrutiny for good reason and have been causing business owners and other individuals a lot of problems. This bank screwed my money up and also my business costing me money with a lawyer and an accountant and seem very unwilling to take responsibility for their actions. They are also very rude and unaccomodating to fix problems caused by them.