TD Bank / posting practices
I hope someone is investigating TD Bank's posting practices. I wrote a check and placed it in the RENT DROP box of my apt. complex office on Tuesday morning. As of late Tuesday night, the check had not been presented (as you would expect). Every Wednesday morning, my direct deposit goes in. The rule for direct deposit is: funds are available at the opening of business that day.
When I next checked my account, the rent check had been posted prior to the direct depost, and I was charged 35 dollars, which caused another overdraft and another 35 dollar charge, and a third...
How can a paper check presented at another financial instituion (I confirmed w/the rental office) hit my account on the same day and before my direct deposit, when it was not showing that night? How can they post debits BEFORE credits? Why do online payments go though when there is not suffcient funds and hit me for 35 bucks, instead of generating a no-cost message that my payment did not go?
Customers should be closing their account and fleeing these financial pirates in large numbers.
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