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TD Bank Northbank fees and minimum deposits

1
M Review updated:

TDBank North switched free checking accounts to "convenience" checking accounts in April or May. Did you get the letter? It said, among other things, that there is now a requirement to keep $100 minimum balance or face a $15 fee. Well, today, the bank imposed the fee. And drew my account down below $100 by a little. That will create a second fee in July.

I voted with my feet and closed the account. But here's the question. If TD Bank North has say 100, 000 customers in MA or whatever and requires each of them to take $100 off the table are they not taking missions out of the economy at the worst possible moment? That just doesn't seem right.

Responses

  • M
      Jul 07, 2009

    Not "missions" but "millions" out of the economy

    0 Votes
  • Y
      Jul 15, 2009

    My fiance and I have 3 accounts with TD Banknorth and a car loan. We went and opened an account at a new bank and will be closing our accounts this saturday. Because we have 3 accounts that means we lose access to $300 since we need to keep a minimum of $100 in each. I called the Bank and the woman told me there are some changes going on since Commerce Bank bought them out and that I could change my account to an account that charges me a standard fee every month and allows a certain amount of checks I can write and blah blah... I'd had my original account since before it was TD Banknorth! I have direct deposit, which for lots of banks means no fee checking account! What? I agree with Mydogralph, what an AWESOME time to be keeping people from being able to use their own money??

    I'm closing all 3. I know I'm only a drop in the bucket to TD Banknorth and they really couldn't care less...too bad.

    0 Votes
  • T
      Jan 28, 2010

    Hello All,

    I am in the process of closing my account with TD BankNorth. It's a hassle but it would be foolish for me to keep paying them excessive fees. Here is the comment that I sent to their organization:

    My suggestion is that you stop charging $15 per month for a "Simply Free Checking Account" (that was the account's previous name) when a customer's account drops below $100. It is a shame that your organization is taking advantage of struggling people during a recession with your excessive fees. I hope that your image is affected by all of the negative reviews that I am reading about your organization.

    0 Votes
  • M
      Sep 11, 2011

    Somehow, I am being charged $25/mo. when my business checking falls below $1, 000 and $25/mo. what a personal checking falls below $100. Whining won't change their practices. We have to find a bank that behaves better. So who is that bank? I have gotten a copy of the Business Fee Schedule and Personal Fee Schedule from TD. Now I must do a comparison against other banks to find a better answer.

    What banks should I investigate?

    0 Votes

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