TD Bankhorrible bank

S
This review was posted by
a verified customer
Verified customer
Review updated:

I've been reading a lot of the complaints listed on here and see that 9 times out of 10 some random login will turn it around and blame it on the customer. Here is a situation I challenge anyone to say is my fault or a lack of responsibility on my part... instead of another example of poor business practices by TD Bank.

I have been a customer of TD Bank since Jan 11 and will be closing my account after my deposit clears and my account is reconciled. I have had numerous issues with this bank but the one that tips the iceberg is as follows. On a Monday evening, I used the ATM to deposit a government-issues child support check (the same exact check I deposit to the same exact branch every month at the same day/time). I deposit the check and within 1-3 business days the check clears so no one needs to explain pending transactions to me. Here is where the issue comes in. I have not used my account waiting for the check to clear (day one they release $100 and hold the other $700 until the check has been verified)... so usually I just don't touch my account until the deposit is shown as cleared which I did this time. Woke up this morning to find that my account was showing no pending transactions and my available balance the amount of the check and proceeded to pay my bills online. Everything was fine until I go to use my debit card for lunch and it is declined... why? Because TD Bank has arbitrarily decided to put an extended hold on the check AFTER it had already listed it as cleared. At this point, not even the first hundred is showing as available (which coincidentally will make anything that comes in from the bills I paid overdraw my account). I spent over an hour on the phone being switched from person to person to figure out what could be done to fix this since it was clearly an issue TD Bank caused. In the end I was lectured about pending transaction times... to which I clearly stated I understand that but if my account is showing that my deposit had cleared and 100% of my money is available... that is not an issue of not waiting out the hold check time. She then told me that the system changes over in the night so there will be fluctations in balances (ummm... from a check cleared to not cleared... umm that's a bit more than a fluctuation... and basically you are telling me not to trust the information the bank gives me). Next, I was told that my check had cleared but then was put on an extended hold by this mysterious "back office" as I'd never made an ATM deposit before... I stated to the Bank Manager (because I'd progressed that high at that point) that I was looking at my statements which clearly showed that I had made previous ATM deposits so again why was this check being held for this reason. After I pointed this out the woman got really nasty and said she wasn't going to argue with me. It wasn't an argument when the bank is holding my money for wrong reasons. She then refers me to some supervisor at another bank branch. I express to this woman... I'm not upset about the time it takes for my deposit to clear, I understand holds but what concerns me is that my account showed everything cleared with no pending transactions so I went ahead and paid bills... now I'm facing overdraft fees if the deposit is not removed from this hold before they come in... and no one has addressed this. To which she replied... well, it will be fine. Like I had no reason to be concerned. She then cut me off by saying is there anything else she could help me with today... I laughed and told her since she hadn't helped in the first place... no. So that wasn't very polite but after 60+ minutes on the phone being treated like I was stupid or wrong... I'd had enough. I should also point out that I wasn't even expecting the check to clear until tomorrow so never would have paid these bills had my account not stated that the checks had cleared. And because of the past inconsistencies in clearing times... I had no reason to suspect that this would happen.

Why did they not put a note on my account to not charge fees or return my payments should they come in because this was a bank "glitch"? Why did they not release my funds or say they'd release them by COB? How hard is it to verify a government-issued check?

I'll be switching banks because like I said this is the last straw in a long line of issues I've had with TD Bank. I will also ensure that EVERYONE I know knows about this to ensure no one makes the mistake of banking at TD Bank.

Responses

  • Cu
    Cuttothe May 20, 2020

    If you really want to witness TD's unprofessional nature, move to a State where they have no branches and then try to close a checking account. I did that. I called my former branch in Foxboro, MA and was told that I had to come in to close the account. I explained that I now lived 2100+ miles from that branch and couldn't come in. I was then told, next time I'm in Foxboro, stop by. Guess what? There won't be a next time I'm in Foxboro. I explained that and then was told to that a supervisor had to get involved. Back on the line the clerk told me to send a letter to the Foxboro Branch with details, having my signature notarized and the account would be closed with a check sent to my new address. I did that and received a letter from TD Foxboro saying that I should have sent the letter to a different address and that I now had to write a new letter, get it notarized and send it off to a TD address within 15 miles of Foxboro. Why couldn't that branch send my original letter to the other branch??? No answer. So I called an 800 number and asked what I could do? Answer, write a check to myself to withdraw all funds from the account. Once done call them back to confirm the account was empty and it would be closed. I wrote the check, deposited it in my new bank account and when cleared I called them. Guess what, account now should that I went negative as they charged me a $25 "Service Fee". Now I began to get very angry; about time. So I called. The woman immediately reversed the service charge but told me that I had to call the 800 number back again 24 hours from this call to again confirm my intention to close the account. I'll be calling them in about 45 minutes from now to do that.

    Never will I use TD Bank again and I also withdrew all my funds, well into the 6 figures, from TD Ameritrade as a result of this incredible run around that, I hope will finally end within the hour.

    E J Chase - Colorado Springs, Colorado

    0 Votes
  • Da
    DAVD PATTON Dec 07, 2011
    This comment was posted by
    a verified customer
    Verified customer

    The manager at TD Bank on 7th ave Johnny Pacheco is a ### and crook!~ TD bank steals money from you!! BEWARE!!!

    0 Votes
  • Se
    sen099 May 14, 2011
    This comment was posted by
    a verified customer
    Verified customer

    Hmmm... then I guess you really are mentally disturbed. You know... this makes me laugh. Obviously, your account has been deleted since it clearly states on your profile "Member since April 28, 2011".

    Thanks for swearing so I have a reason to report you. Love that.

    -1 Votes
  • Se
    sen099 May 14, 2011
    This comment was posted by
    a verified customer
    Verified customer

    @ Here we go again... Let's try this for credibility. You have been a member here since April 28, 2011... that is 16 days. In 16 days, you have not filed ONE complaint and yet, you have posted 194 comments on a number of complaints concerning the same companies over and over again.

    What does this tell me? Okay, so you don't work for TD Bank... I see that now... but you do probably work for whatever reputation management company contracts to those companies. And what is the purpose of those companies? To discredit valid complaints by good people so that it doesn't discourage people from no longer frequenting those establishments. And if you don't... then what career allows you to make an average of 12 counter-complaint comments a day and it would be a very sad existence (bordering on some sort of mental disorder) that this is what you do day after day.

    FYI... I'm a retired duty-connected disabled US service member who held a security clearance. As such, we weren't allowed to bounce checks or be irresponsible with our finances or we could lose our entire career. I was taught well through classes provided by the service component about investing, handling my check book and everything else to do with finances. I worked hard for my money and didn't spend crazily as a young adult... I was too busy defending this country. I also pay cash for everything I purchase. I don't have credit cards because I don't need them. When it comes to financial responsibility... I'm probably the poster child. Again, nice try. At least there will be one post on these boards you can't knock down.

    For feedback for your company... just let them know that for TD Bank... the simplest solution is typically the most beneficial... had, at any point, ANY of one of the five TD Bank employees that I spoke with simply APOLOGIZED for the inconvenience caused by what is clearly a flawed system... One which allowed a gap between the normal check hold (1-2 days) and the extended hold (erroneously attached to my account for never depositing through an ATM despite the fact that except for my opening deposit had been done month after month) as well as a note on my account stating what happened to avoid any charges caused by the situation... I would have been satisfied. Neither of these things would have caused the bank any money or hassle and I would have closed my account. This did not happen. Instead, I was argued with when I called, lectured for policies that had nothing to do with why I was calling (FYI... an irresponsible person would not have called as soon as the issue was noted and BEFORE any negative impact was seen in my account) and nothing was resolved to my satisfaction.

    -1 Votes
  • Se
    sen099 May 14, 2011
    This comment was posted by
    a verified customer
    Verified customer

    And shoot... sorry about the typos... Seeing those two yahoos posting negative when they don't know anything really made me angry. I mean really, who would take the time to go through and post IN FAVOR of TDBank on a complaint board. Oh, and I posted about this on facebook and EVERYONE that replied said they'd had issues with the bank (all over the country) and had switched. Lots of recommendations for Citizen bank... just in case anyone is looking for a new one.

    0 Votes
  • Se
    sen099 May 14, 2011
    This comment was posted by
    a verified customer
    Verified customer

    @gkenigmatic... Funny enough three of the people who I talked to on the phone were confused when I brought up their check cashing policy (which I looked up online while being on hold forever)... governement checks can be immediately credited. One lady actually asked me if it was a payroll check and if I worked for the other state's child support division. I wanted to ask if she was stupid and say I live like 80 billion miles away so I doubt that commute would work out for me. It clearly says the state and the issuing agency. LOL Apparently, something wasn't clicking with them that it was a governemnet issued check. It was one of the issues that was really frustrating me while on the phone.

    @Ellen67... I've had the same check every month for the duration of my daughter's life and never had issues cashing it like this at the last. No holds even on the rare occasions that my balance didn't cover the entire check. And tdbank told me it was for never having deposited from an atm before despite the fact I had. That's one of the main issues of my complaint.

    And as an update despite having called my payment did incur an astronomical overdraft fee... which I spent 40 minutes on the phone (at this point beyond being civil and polite) getting reversed. They did reverse it but I never should have had to go through it in the first place.

    Account closed on Monday.

    0 Votes
  • Se
    sen099 May 14, 2011
    This comment was posted by
    a verified customer
    Verified customer

    That should read I've had no overdrafts in the four month history of this account and I've only had three in the last 20+ years of banking. Just in case you want to get crazy with that comment since you are clearly looking to discredit the good people that post complaints here to cover a shoddy instituation.

    -1 Votes
  • Se
    sen099 May 14, 2011
    This comment was posted by
    a verified customer
    Verified customer

    @Gatortracks... actually no. I do not use checks and have had NO overdrafts in four months. I have had continuous "mistakes" with deposits and debits over the four month. And you also wrong with the "cleared" vs "posted". My available balance was the total amount of the check PLUS what was already in the account (so no the balance was NOT zero). Try again.

    @Here we go again... I am past the period of where they hold checks for new accounts. It was a typo that I said it was the amount of the check. I was angry at the tdbank who kept me on hold, transfered for over an hour. And this was NOT a normal hold... this was a hold AFTER the check hold... for never depositing through an ATM before which, as I stated above, I have done EVERY month for the last four months.

    @ Both of you two OBVIOUS tdbank lackies... I moved to a new state and only opened this account to deposit my child support into and to have a local bank for local banking services. Not that I have to explain my finances... but I have a main bank from a small chain in texas... which I LOVE and have banked with for years and years. I can pay all my utility bills, cell and other small non-essential bills out of this account which I do. This ensures that, again being RESPONSIBLE, that my savings money, my daily living money and my bill money are all in separate accounts with no overlap.


    Unfortunately, for the two of you. This isn't a time when you can say "Oh, this person is irresponsible". I retired at 38... I am that financially responsible... not rich but I invested well for my future starting young. I moved to a new state and only opened this account to deposit my child support into and to have a local bank. Not that I have to explain my finances... but I'm

    -2 Votes
  • Aw
    awful TD May 12, 2011
    This comment was posted by
    a verified customer
    Verified customer

    HERE'S MY "INTELLECTUAL" COMMENT: "TD BANK BLOWS!!!"
    CLOSE YOUR ACCOUNTS AS SOON AS YOU CAN. THEY WILL CONTINUE TO RIP YOU OFF AS LONG AS YOU BANK WITH THEM. THEY WILL EVENTUALLY GO BELLY UP.

    0 Votes

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