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I was hit with multiple overdraft fees on my checking account, totaling some $240. At $35 dollars per transaction.
My account balance showed a positive $17 dollars after I had transferred cash out. My online account showed NO pending transactions.
However, there where pending transactions that only the Bank could see on there system. And so I was not aware that I was about to get hit with multiple debit related purchases, that took upwards of 5 days to get through the system.
The complaint has been investigated and resolved to the customer’s satisfaction.
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TD bank is the worst bank I ever dealt with I just came from there and filing a compliant with Dept of banking . They gave me a over draft fee for 1.08 ok then 20$ for not having the 5$ in my acct . Fine I went to go pay the 66.04 my new job only does direct deposit so I go in and they tell meI owe the 70$ from 2009 now I remember this like yesterday I know what branch I went to and what the lady looked like and I paid the 70$ they said no an would not! Give me the rest of my money unless I made the 136$ am a single mom with two kids struggling and I depend on my checks.mind you my frist check from a new job .. I had to pay it now have to go to LI and look for the recipt I hope I still have it.. I want to know if I can sue them ? I really had break down in the bank ..
I have the same problem after i read all those complaints! TD bank is a bunch of thieves! I know there was a class action against them and TD had to pay. I wish i knew! http://www.topclassactions.com/lawsuit-settlements/lawsuit-news/3749-court-approves-62m-td-bank-overdraft-class-action-settlement#
TD bank is a scam with their " pending transactions ". I just sat down with a branch manager for over and hour trying to figure out exactly what they are up to.. Basically, when you make a purchase with available funds. They remove those funds and " withhold them " to ensure the amount gets processed some days later when it " hard posts " to your account. If your account is negitive at the time of the " hard posting " then you will get hit with an overdraft fee. Even though those funds have already been "withheld" to ensure they will process at the Point of sale.
In the words of my local branch manager " The way TD bank operates is very deceiving, you can get overdraft charges twice on the same transaction if it made your account negitive at the point of sale, and at the time of the ' hard posting', a 'double whammy'. You should always keep money in your account."
It's very confusing but if it has happens to you then it makes perfect sense. Complete scam. When your bank tells you they are " deceiving " and overdraft twice on the same charge. It's time to get a new bank.
Example, make a purchase at subway for 10$ on a tuesday when you only have 4$ and your bank will " pend" the funds for a couple days. They take the funds immediately and hold them, so you ARE spending the $ at the time. Your bank will be $6 negative. You will get charged a 35$ OD few for this. The subway 10$ transaction will show as " pending " on your account
Bank balance is now negative 39$.
Don't make any more purchases, leave your bank negative for a few days, until the 10$ you spent " hard posts" to your account.
You get charged another 35$ OD fee at the time of the "hard posting"
Bank balance is now negative 74$ from the same 10$ purchase
If you don't believe it I encourage you to try it.
I've never seen any bank practice like this, and I've had several of them. They actually refunded me 70$ on the spot because of this deceiving tactic.
If your like me and live paycheck to paycheck. Avoid TD bank. I closed my account immediately after I found out about this nonsense.
Here's my issue with keeping a register...it's the millenium - it is the information era - everything you need to know is at your fingertips with up to the minute updates - but yet our banking system is unable to show you all of the pending transactions they have at any particular moment? NO - they want you to overdraw your account - they make billions of dollars every year from these fees. Just yesterday my account showed an available balance of over $500, that was the balance they showed after deducting my pending charges. Well lo & behold - today - they overdrew me on about 6 of those charges because they had 2 other pending items that they didn't show on the internet. How can they show 80% of the pending transactions & hold back the other 20%? How is that not illegal? We are a family that lives paycheck to paycheck as I am sure a lot of Americans are doing these days. It is very frustrating to log on & see that I will be charged 100's of dollars that I simply don't have. And PLEASE knock off this nonsense about keeping a register - this is highway robbery & we all know it!
It is crazy.
I am so sick of you people saying: Register your checkbook. I am so to the point with my account register that i know when something will clear. Td bank made a big mistake, because everyone I know that has banked with them has closed their account. I had a checking account with another bank for 10 years and NEVER withdrew my account, TD Bank has taken 100's and 100's to 1000's of dollars from me. Unfortunately what TD does is legal, but it is WRONG and they will most likely go out of business because of it. Way to treat your customers TD BANK.
Yes listen to Tired of being Stupid she threatens people on the phone all day long. That because she and Harry Keane have been coning people on the web. Please check out complaint board, [redacted] and laze.net then put in Harry Keane and Perisiion and Becky Purcell. People they have ripped her off have positively identified her as Tired of being stupid so now she is commenting on other people's boards to stop people from suspecting she is Becky Purcell and not just haunting CMALONE post. Pathetic and funny.
Make copies of your account and the amount available and pending. I keep getting zonked with these overdraft fees also .Well I am going to fight back and send copies to the federal trade and banking authorities
This is robbery! Plain and simple. This never happened before they changed their online systems with the buyout from Commerce. We should get together and get a lawyer involved.
To Maggie:
But KanT55's was not overdrawn. He/she still had money in the acct. TD overdrafts your acct even if you hav $99.99. Anything below $100 - they everdraft you. This is BS