TD Bank — excessive fees
We've had our accounts at TD Bank since it was Commerce Bank, and since the Tribeca branch opened. We moved because the Bank of New York was just not as pleasant as Irving Trust had been (before the merger...). While some of the staff were inept, a few of them really stood out as can-do people.
When we joined with others to form Wildlife in Tribeca, a group engaged in urban wildlife rehabilitation, incorporated under the New York State Education Law and operated by state-licensed wildlife rehabilitators, opening the corporate checking account at (now) TD Bank seemed appropriate. WiT does not have a great deal of money; it is organized so that it never will (a matter of preserving tax-exempt status under IRC 501(c)3 and 508(c)1(b)); what's there is to pay the costs of medicines and related supplies, and to manage funds for support of animals — mostly birds — sent to sanctuary upstate.
Recently, we have noticed that the way in which the minimum deposit is calculated for this small account seems to have changed in ways that are effectively punitive. Consequently, we are now finding substantial maintenance fee charges even when we have maintained balances well above the minimum required, except for a day or two, during any given month.
We are looking for a different bank — one that doesn't consider it necessary to deplete funds of small charities, the kind where 100 percent of gifts (mostly from trustees...) are used for the charitable purpose.
As for TD Bank: It is a shameful organization.
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