TD Banknorthoutrageous overdraft fees

1
Review updated:

In the past, I have done business with other banks, but I have never experienced anything like what this bank is doing.

I know that if you overdraw your account, there is a $35. fee. This bank charges the fee every five days until you make a deposit.

I've spoken to these cold hearted cut throats and have gotten nowhere with them. I'm a senior citizen, and if I'm not mistaken, it is against federal law to charge overdraft fees on direct deposit Social Security checks. It fell on deaf ears with these people. Since us seniors only get paid once a month, I think this is a rip off on a grand scale and should be stopped. We're talking anywhere between $100. and $200. for the month just in fees if you overdraw your account.

I want every cent this bank stole from me in fees.

  • Updated by Lawrence Rueter · May 05, 2020

    Need to update error 47, 000, 000.00!

Responses

  • Fr
    Frank Apr 14, 2008

    ok . . . 3 days ag0 i bought gas and 3 days later i need oil, i had $34 then $25 toward gas then i thought it already went through, i check the ATM wich tells me $10, so i buy oil and do all of that and i go home to check my account and im under $11 and i beleive thats a $20 extra fee and hopfully they give me 24 hours to pay it before a fee is added. if they dont ( i dont know if they do) i will be happy and have paid it back if not i dunno if i cna pay back +$30 right now. i really hope there is a 24 hour notice.
    but probably there is not.

    0 Votes
  • We
    WeAreMarines Jul 01, 2008

    I realized that for my account with them for a washer and dryer i bought from Maytag, that the late fee is 10%! I was blown away that i paid my $10 (that is TEN DOLLARS) when I got home from work on the day it was due, and got charged a late fee. It was 5:30pm, so they said it wouldn't process until the next business day, and they have NO grace period! The late fee for paying my $10 bill 30 minutes too late was $50!!! So $10 turned into $60 for them in a matter of minutes. I was appalled. Not only that, but the phone number for payments is hard to locate on the bill, and they dont offer online payments. You can pay by check or make a payment by phone and pay a fee. This company is ridiculous.

    0 Votes
  • Jo
    Joel Aug 15, 2008

    I was really short on funds recently down to my last $5 and I checked in with my online banking and it said i had $5 exactly in my account i called the bank to confirm and i hadn't purchased anything for a week after that and it said the same. At work I purchased a $3 pretzel for lunch and got home to discover I was $1 overdrawn... amazed I called the bank to report the discrepancy and guess if they cared. They made one excuse or another and passed me around till I got so fed up I said goodbye and hung up. So I thought whatever $35 sucks... but i'll pay it and be done with it. Well... I lost my job and the employer promised he would send me my last check on that friday... he didn't send it to me for 5 weeks, and by the time he did send it my $1 that i had gone over miraculously, had become a $280 fee... I picked up another job thankfully and sold some items to supplement my check from my last job. Checked last night how much I owed after 1 am. Checked online banking to verify and there was a system issue... so I rushed over to the bank at 10:30 am. With my deposit in hand to put myself out of the red and what do you expect should I find? My account was closed sometime between 1am this morning and 10:30 am THIS morning. How this happened and I wasn't able to make my deposit I have no idea. Now I have to find another bank and to be honest it's good riddance.

    0 Votes
  • Ma
    Mary Sep 15, 2008

    TD Bank North when we opened our accounts was a great bank to deal with. Now it has turned into a bank that does not care about it customers. They are out to make money off people who cannot afford it. Overdraft fees are ridiculous. Everyone makes mistakes here and there. I have my mistakes and admit it. I check my account frequently and when it tells you that you have $50 in your account and you go out and spend $40 which you think you are ok cause there is still $10 there. You look at your account again and you are charged and overdraft because they have things in pending and when they post all of a sudden you balance is different and they bounce 4 or 5 items. How can a bank accept a charge or debit aganist your account and then all of a sudden bounce it. It is unfair to charge $35 on a $10.67 charge. When you call customer service they are rude and will not help you in any way. I am changing banks to a bank that actually cares about their customers not robs them.

    0 Votes
  • Ja
    Jack Oct 15, 2008

    What you other BankNorth customers may not realize, because TD BN doesn't want us to know, is that thousands of customers are getting hit with overdraft fees because of a deliberate change in the bank's information infrastructure whose only purpose was to generate more income for the bank by tricking customers into overdrawing their debit and/or checking accounts.

    Earlier this year (check your monthly statements) debit card policy was changed so that all debit purchases (at a store where you use your PIN instead of signature) and all ATM withdrawals would affect your account as of the day you made the purchase or withdrawal, even if you did it after business hours or on a Sunday or holiday.

    BUT THIS PART IS EVEN WORSE: According to the manager at my local branch -- I think she let this slip, because it didn't come out until 20 minutes into my meeting with her and only after I made a sarcastic comment about the system malfunctioning to a 3rd person -- NEITHER THE AUTOMATED TELEPHONE SYSTEM NOR ONLINE BANKING REPORT CUSTOMER ACCOUNT BALANCES ACCURATELY ANYMORE. She claimed customers were notified by mail, I have yet to find written notice.

    If you're a BN debit-card customer you probably know you can use online banking or call the 24/7 800 number (1 800 428 7000) to check your balance, and like most debit card users, you probably check your balance before (or at least the same day as) making any significant purchase, to double-check how much you have available. DON'T TRUST THESE BALANCE REPORTS ANYMORE!

    My local bank's merger into BankNorth was completed in 2002, over 6 years ago. Prior to this year, and going back to when my current accounts were opened at a literal hometown bank (where my first account dated back to the 70s), calling the 800 number to check account balances reflected pending credit transactions (where you use your card and sign at a store, or in most cases if you buy online or by phone) no later than the day after you made the purchase, even if the amount of a purchase didn't actually come out of your account until days or even up to a couple of weeks later. You couldn't get info about the amount of any specific pending transaction with the phone system, but you at least knew from your balance that that amount was already set aside for the pending purchase.

    It used to be, if on Day 1 your balance was $500 and on Day 2 you made a $100 purchase, on Day 3 your balance would be reported to you as $400 even if that Day 2 purchase didn't actually "post" (meaning the money actually went out and the info about it became available to you and bank tellers looking at your account) until Day 9.

    Now, you could make a $100 purchase every day from Day 2 to Day 5 and when you check your balance on Day 17 you might still be told you had a $400 or even $500 balance when really you only had $100 due to the "pending" purchases!

    Why in the world would they take a system which had been working so well and make it so it now works worse than when debit cards were first introduced? Simple -- to cheat trusting customers out of overdraft fees.

    I am looking into whether this practice is illegal or just unethical. Either way, I'm getting the fees they charged me via this SCAM refunded even if I have to take them to small claims... and then I'm switching banks.

    In the meantime I'm taking the majority of my money out of my direct deposit account in cash at the beginning of every month so at least they aren't getting much interest out of me. This is seriously dangerous for me though -- I'm disabled and in a wheelchair, and used to depending on the safety of a debit card (where I'm not responsible for unauthorized purchases in case I'm robbed) rather than cash.

    FIGHT BANKNORTH! Make them refund your overdraft fees if you have any due to their deceptive business practices, and then take your business to another bank. They used to be trustworthy and have decent customer service, but clearly have had a change in corporate philosophy to pull a stunt like this. DON'T TRUST THEM.

    0 Votes
  • Er
    Erik Shifflett Oct 17, 2008

    I'm suing TD Banknorth in small claims court - and encourage others to do the same. Feef free to contact me at [email protected] if you feel you may have information that could help my case.

    Details:

    I am filing this lawsuit against TD Banknorth (headquartered in Portland ME) in an attempt to retrieve money which was unlawfully deducted from my accounts. TD Banknorth attempts to justify these deductions by stating existing policies which I believe were created for the sole purpose of generating revenue for the bank by encouraging accidental overdrafts. I also believe that TD Banknorth’s business practices are deceptive because they intentionally provide account holders with misinformation. I have identified four deceptive practices which I believe have been implemented by TD Banknorth with an intent to defraud the consumer.

    Examples of these deceptive practices include:

    1. ATM printouts do not reflect the actual available balance on the account. TD calculates account balances by taking into account pending transactions that have not yet posted to an account. However, ATM printouts state an account balance that does NOT take into account these pending transactions. The result is that consumers are intentionally led to believe that their available balance for withdrawals is higher than it actually is. TD has stated that the reason for this is simply that the information is not available, but this is not the case. Any account holder can view account activity online and instantly see all pending transactions without delay. In summary, TD possesses the correct information but chooses to provide the consumer with misinformation at the point of sale in an attempt to generate overdrafts.

    2. TD applies overdraft charges to accounts for transactions that have not posted to the account. For example, if a merchant places an authorization on an account which could result in a negative balance, the overdraft fee is applied even if a deposit is made to the account prior to the merchant batching out and actually applying the charges. In summary, TD applies overdraft charges in anticipation of a future negative balance which has not yet occurred – and may not occur if a deposit is made (see documentation attached for an example of this).

    3. TD does not process merchant charges to accounts in chronological order of when purchases were made. Instead, TD process charges according to the dollar amount from largest to smallest (largest purchases are applied first regardless of transaction date). This results in unjustified fees under the following scenario: On Monday a consumer purchases three five-dollar items, which their account balance easily covers at the time of purchase. On Tuesday the consumer purchases a larger item, resulting in a negative balance. On Wednesday all four transactions are applied to the account with the most recent transaction applied first for the sole reason that it is of the largest dollar amount. The result is four overdraft charges instead of one, despite the fact that the larger purchase was made after the other smaller purchases. This example would cost a consumer $120.00 or more.

    4. TD has a policy of refusing to honor requests to disallow card authorizations that would result in a negative balance. Historically, debit cards were declined if the available account balance could not cover the attempted authorization amount. TD has a policy of allowing all transactions to go through despite account balances, while providing misinformation via ATM machines so that consumers have no way of knowing that a $5.00 purchase can cost $35.00 thanks to the resultant overdraft fees. Furthermore, TD charges for overdraft protection. TD should honor requests for the card to be declined if an attempt is made to make a purchase that would result in a negative balance.

    5. TD refuses to close accounts that have a negative balance. Meanwhile, accounts with a negative balance are charged additional overdraft fees every five days ad-infinitum. For consumers who have a dispute about their negative balance, withholding deposits until the dispute is resolved is discouraged due to an ever-increasing negative balance. In my case, after repeated requests to close my account and TD Banknorth’s refusal to do so, TD eventually transferred $450 from a joint account that I share with my wife to cover the negative balance consisting solely of fees. Not one dollar of the negative balance in my account was due to a purchase I had made. After transferring the money without our consent or knowledge, TD still neglected to close the account, and overdraft charges again began to accumulate after monthly account fees were applied.

    6. Account Holder Agreements are not available online – only via branch locations


    In bringing this lawsuit I request the following resolution:
    1. TD Banknorth is to refund me $480 for previously applied and unjustified overdraft fees
    2. TD Banknorth is to reflect actual account balances on ATM statements
    3. TD Banknorth is to cease applying overdraft fees for transactions that have not posted to accounts
    4. TD Banknorth shall honor requests to limit transaction approvals to actual account balances
    5. TD Banknorth shall honor requests to close accounts instantly – regardless of account balances


    Thanks everyone!

    0 Votes
  • Ki
    kim comeau Nov 15, 2008

    http://www.egov.nh.gov/consumercomplaint/step4.asp

    This is the web address for complaints with the attorney generals office in NH but in your area everyone with problems with this bank as I have had should submit a complaint to the attorney general. What they are doing is wrong and we should all do something about it because most people don't read these complaints unless it has already happened to them. If everyone who goes on this page reports a complaint with the attorney general and BBB than just maybe things will change.

    0 Votes
  • Fa
    fad4507 Dec 16, 2008

    TD Bank North is the worst bank ever. I have had ALL of those incidents happen to me and currently I am in -$325 overdraft fees for a check that THEY messed up. I want to take legal action as well but do not know how to carry it about.

    0 Votes
  • Cl
    closer123 Feb 05, 2009

    I have been a customer of TD Banknorth for over a year, with a steady income of more than $70, 000 deposited weekly in my checking account, a small loan, and a CD purchased from them as well.

    Recently, I transferred money from my account to my sharebuilder savings account at the same time an automatic withdrawl was taken out of my checking, thus overdrawling my account by approximatley $150. Despide having overdraft protection on my accoutn, and a savings account balance of $120, no money was withdrawn from my savings, and I was charged an overdraft fee of $210, $35 per transaction that had occured that day. The following day I was charged another $210. I called the customer service number, spoke to a nice woman who refunded me $300, and told me that my account would be in the positive, and that I would not recieve any additional charges.

    At close of business I recieved another $210 overdraft fee, and during the following week, a total of $735 of overdraft charges.

    So at this point, they have charged me $1155 in a span of 10 days. I spoke calmly with the highest supervisor they would allow me to talk to, who informed me that it is bank policy, and nothing will be done about it.

    Small claims court, here I come.

    0 Votes
  • De
    debra Feb 14, 2009

    I feel the same way and am closing my account. They are crooks and hopefully they will have to pay for their actions. I hope I have better luck joining DCU credit union. I have been doing banking with TDBanknorth since 1998 and the overcharge fees are outrageous. It is wrong how they don't give you an accurate balance information. I spoke with their Customer Support today and was told don't go by what is said on the phone. Bazarre - Current balance is $154.00 Avaliable balance is $154, make purchases and then I have 1 overdraft fee after another. I'm done with them. I also deposited my Department of Treasury check through the drive-up and got $44.00 back but the $200 I had deposited was noted as a check and needed to clear. A government check needs to clear, so more charges once again. She told me that the government still needs to clear like any other check in case I owed someone else. Which I believe is not ture because the Government does their search before they cut the check. I am done fighing and going round and round with TDBanknorth. I think all customers should leave them, then who will be crying last.

    0 Votes
  • Da
    Dan B Mar 04, 2009

    outrageous unexplainable fees and charges. TD banknorth is raping there clients of our money during these hard times. I also want every cent back that they have stolen from me. getting charged a 3$35 overdraft fee when your debit card is swiped for approval, and then another $35 fee when that same transaction post to your account. that's a $70 fee for one overdraft, and just the tip of the iceburg.

    0 Votes
  • Li
    linda noel Mar 10, 2009

    td bank north used to take my deposit and i could use my card while the deposit was clearing. no more and with no notice. i was charged over 200.00 today and my account likely to stay negative over 5 days i think this is a sin. first we give them our tax money they they pork their customers for more. how nice. credit unions are the way to go!!!

    0 Votes
  • Zs
    z.s Mar 17, 2009

    TD Banknorth are pirates! Daylight robbers! I just got charged $230 in overdraft fees as I deposited a cheque on Saturday and it did not clear until Monday. What is the point of being open 7 days a week?

    0 Votes
  • Ca
    cass Mar 27, 2009

    i typed in the words td north screwed me and that is how i found u my story is nothing compared to yours but it hurts just as deeply because it is all i have there bank fees are just wrong i can understand if i make mistake but they are the ones who did the wrong and i have to pay, because my social securty check is direct deposit i wonder how much of this dirty buisness is done right before direct desposit days when thee is nothing you can do to stop it, well they got one more chance to make it right with me and i am taking my little buisness such as it is else and i will foreve speak bad of this bank they are on my list with vonage and dish network
    avoid them vontage is also pure evil

    0 Votes
  • To
    Tooder Apr 21, 2009

    My daughter just experienced similar $35 every 5 days overdraft fees for going $14.00 in the negative from a $14.95 charge that was unauthorized. First they told her they could do nothing about the unauthorized charge to her account and also refused to waive the $35 fee, they also charged her again 5 days later. This poor girl is unemployed with $60 a week income and they were plugging her $35 every 5 days until she brought the account back to the positive. To me this is compounding fees. Needless to say I gave her the money to pay it and close her account...then they say it will be "pending" for 24 hours? Stay away from these crooks!

    0 Votes
  • Pa
    Patricia Apr 22, 2009

    I'm with you FrequentFlyer95! Let's get this started! I'm sick and tired of the way they stick it up our [email protected]*!!! You can't win with them. I think I'm gonna report them to the NH Banking Dept. like I with Countrywide. They are all a bunch of thiefs! Maybe we'll start a bank 'teaparty'! LOL

    0 Votes
  • Fr
    FrequentFlyer95 Apr 23, 2009

    I filed a complaint with the Federal Reserve which has since forwarded to the investigating agency Office of the Comptroller of the Currency (OCC). I suggest you ALL do the same. This needs to stop!

    OCC Customer Assistance Group
    1301 McKinney Street, Suite 3450
    Houston, TX 77010-9050

    Email address: [email protected]
    Website: www.helpwithmybank.gov

    0 Votes
  • Mi
    Mike I Jun 11, 2009

    I agree that TD Banknorth's practices are deciptive and Illegal. I will be closing my account and spreading the news to the thousands of people I know to avoid them at all costs. They hold your money until transactons arrive against the lower balance then charge $35.00 for each overdraft even it it's under $10.00 for Dunkin Donuts. They will continue to loose thousands of customers until they either go under, or change their ways. I believe they will not exist in the near future and that's fine with me. The so called human beings that run this bank should be ashamed of themselves and know that all of their ill gotten gains will be cursed in the long run.

    0 Votes
  • Le
    Lee Jun 17, 2009

    The company is making money off of people who cannot afford it. They charged me 450.00+ dollars for overdraft fees that happened to post all in one day. I deposited a check on Friday for 600.00. This check took 3 days to deposit when it normally takes one day. In the same day I purchased 45.00 worth of products. They charged me 35.00 per purchase on 5.00 items.

    STAY AWAY FROM THEM!!!

    0 Votes
  • Do
    DONGIMP Jul 23, 2009

    I recently have a $280.00 overdrat fee .i cashed my check(which is a adp payroll check) they put a hold on my account for aroud &250. this wasnt the first time.As soon as all my checks are in im closing it.

    0 Votes
  • Kc
    kcarpenter Jul 23, 2009

    I closed all of my accounts with TD Banknorth at another branch. As I did the person I closed them with said 'between you and me, because I wouldn't want this to get out that I told you, the bank IS aware that there is a problem. They just updated the ebanking system last month and are doing a complete software upgrade in September". Of course I said that knowing there is a problem and allowing it to continue until September is not a good answer. Nothing they could do. So, this 13 year customer (before they were ever TD Bank) took her money elsewhere and has not had a problem since! -K

    0 Votes
  • Ni
    Nicole Jul 27, 2009

    They accept charges from your debit card and then bounce them and charge you $35 for each one. Their online banking is a joke and they are not a customer friendly bank anymore as they were when I opened the account 4 years ago. They rob their customers. Many others feel the same way.

    0 Votes
  • Ve
    VegasDealer Jul 27, 2009

    The only one who is overcharging is you by spending more money than you have in your account.

    0 Votes
  • Li
    Lili05 Aug 03, 2009

    I agree with every personal complain regarding TD Banknorth.
    They do overcharge their customers. Also, they came out with a new rule for savings account few months ago that they supposedly mailed to their customers. The new savings account rule is that you have to remain your account with $250 and no less than that. If your account goes low than $250 you will be charged $35 fee after 5 days. I believe this is ridiculous. Economy is not that great and not everyone can afford to keep $250 in the savings account. I have been a customer for more than 7 years and never had to deal with these issues.
    I closed my savings account right after I found out that my account went into negative balance because of their new rules. They only notified by mail. I never received a message in my account box or by phone call. I believe if they have such dramatic change to the accounts they should notify their customers by phone, mail and message in the account box. So everyone would be prepared to make a change. I am sure there are many individuals who got screwed by such change.

    0 Votes
  • 25
    2547 Aug 29, 2009

    I ususally keep track of my account on line. Apparently the banks view of you account looks different then the one you are looking at. The bank charged me 210 in one day for pending charges that never showed. I feel like they just ripped me off

    0 Votes
  • Nh
    NHParalegal Sep 01, 2009

    This has been happening all year to me as well. Same as above. What I noticed this weekend was:

    Pending transactions deducted leaving a $17.00 balance.
    Another transaction came thru (that I forgot about) and overdrew my account by $1.75.

    The bank then charged me a $35.00 fee on ALL of the pending transactions. There was 5 or 6 in all - going back to school shopping.

    If it's already deducted from my account, how can they then go and charge a fee for every pending transaction that had not yet posted!!

    I am livid. To top it off - they charged me ANOTHER $35 this morning because my account was overdrawn.

    I cannot even add up the hundreds of dollars they've taken from me. And, as many of you have said, the online banking account or the ATM printouts constantly change accordingly to benefit them. It's never the same way. I was also told by a manager at the TD Bank in Keene, NH that all charges are deducted as they come in or authorized or whatever, but deposits may or may not be credited to your account that same day. His answer was, and I quote: "Once the teller closes out, it could be anytime up until 11 pm that evening before a deposit shows on your account."

    This cannot possibly be a legal practice.

    0 Votes
  • Sa
    sambx Sep 02, 2009

    I have been a victim of TD Bank as well. I signed up for free checking w/ no minimum balance, and then low and behold they change the rules. That is not the contract I signed up for. If they had at least informed me I would have closed out the account before I had fees that I had no knowledge of put me in the negative on this account I hardly ever use. It is used for specific purposes. I have also had money stolen for OD fees when there was actually a balance to cover any activity. I have had quite enough.

    I did not realize and should have, that TD Banknorth is a Canadian Corporation. I have a practice of only doing business with American companies and corporations – not that they are any better these days. The American consumer has become so complacent and apathetic, allowing these companies to treat us a door mats. This consumer says not anymore.

    Banknorth lost a lawsuit back in April, costing them $50 million; perhaps this is why they have begun these predatory practices. They would have been far better off to not conduct business in such a way that it put them in the position to lose such a lawsuit.

    For all of you complaining on this and other boards – do more. Email everyone on your contact list; tell everyone you know to beware. Complain to the FDIC, BBB and AG if applicable. Bad word of mouth can be very damning to a company. Email everyone in the company that you can. Call everyone in the company that you can. Do not take no for an answer – you can and should fight back. By calling executives and the like you are costing the bank money. These people are highly paid and the time spent with dissatisfied customers is time away from what they consider more important business, business that generates high revenue for the bank.

    Below are email addresses for executives of TD Bank. I will be posting some Blackberry and office numbers of these executives in a few days. Call them, bother them, cost them money – after all they are taking yours. Stop being a victim!

    Bharat Masrani <[email protected]>; cheryl cornish <[email protected]>; Cheryl Cornish <[email protected]>; fred graziano <[email protected]>; kathy brown <[email protected]>; robert falese <[email protected]>; stephen boyle <[email protected]>; william ryan <[email protected]>

    0 Votes
  • Ba
    Banker75 Sep 19, 2009

    I work in banking. I think all of the problem stems form the fact that nobody keeps a checkbook register anymore. People write checks on anticipated funds and use their debit card when they have no money. What about personal responsibility? The fee of 35.00 per wack is a stiff penalty but if you kept your check register your fee would be zero because this would not happen. People go by their balance on online banking when the bank cant anticipate a check that you have written or auto payments you have set up with other companies. Stop acting like victims and take some responsibility!

    0 Votes
  • Ca
    cambjk Oct 19, 2009

    My wife and I are moving to the Sanford me area, tbb is out after reading all these complaints so any suggestions? we would like to use a local bank. thanks J&d

    0 Votes
  • Es
    e-squire Oct 28, 2009

    I am an attorney investigating the following situation:

    TD BANK INCLUDES YOUR OVERDRAFT CREDIT LINE IN
    YOUR "AVAILABLE BALANCE" ON ATM SLIPS!

    Even though your credit line is subject to a 14% interest charge.

    THEY DO NOT TELL YOU THIS!

    They do not tell you that your "Available Balance" includes the amount of your overdraft credit limit (usually $500) and if you withdraw that amount (from an ATM machine or bank) you will be charged 14% interest!

    They do not tell you that the difference between your "Available Balance" and your "Current Balance" is the amount of your overdraft limit (usually $500) and if you withdraw that amount (from an ATM machine or bank) you will be charged 14% interest!

    INVESTIGATION - If you have inadvertently withdrawn money from your overdraft credit line, and were charged interest complete the form at http://e-squire.net/tdbankwarning.html or contact:

    Steven G. Tyson, Esq.
    610-876-1482
    [email protected]

    0 Votes
  • Gj
    GJW Nov 23, 2009

    TD Bank is playing funny games here. Commerce Bank was so good, I cannot believe they sold out to these shiesters.

    Here's what TD bank does, even after correcting their system, and claiming all is well once again:

    (1) Let's say you use your debit card, and the charge is run as a credit card charge instead of a debit. They take three entire business days to post, when Commerce posted immediately or the next day.

    (2) Let's say you share a card with a family member, you live apart, and you do not communicate about who took what money out of the shared account. This is exactly the scenario TD bank hopes for, because they let the charges go through even on insufficient positive funds, they add the charges all together three days later, and charge you $35 for every overdraft.

    (3) Try this experiment: Try to use your card as a credit card when there is a negative balance. I did this several times, out of curiosity. It is impossible to overdraft when your card has a negative balance. yet it is possible to overdraft if you have a positive $1 balance. This means, from a software transaction perspective, they are checking for negative balances, but not checking for sufficient balances, when they easily could.

    THIS IS PREDATORY. Some fat executive thought this would be a great scam to rake in more fees, and supposedly "punish" the poor, or "irresponsible". THIS IS PREDATORY. BYE BYE JD POWER AWARD. Let's get a class action suit going, and start blogging about it everywhere.

    0 Votes
  • Gr
    Grr pissed off Nov 30, 2009

    Not true...I made a deposit the other day and used only in my means. They charged me an overdraft protection fee that I never authorized and that made me over draft. I am closing my account Friday.

    0 Votes
  • Ba
    babybird7615 Jan 23, 2010

    TD Banknorth continues to rip off my boyfriend and I. After discovering that we had 200 dollars in overdraft fees at our bank despite having had enough money in our account to cover our spending, my bf went to our local branch and had them print out his transactions. Even the workers thought the charges were fraudulent. Our account never went into the negative until they charged us overdraft fees. So what exactly did they do to deserve those funds? I mean, to collect overdraft fees the bank should legally have to pay on an overdraft. We had the money in our account to cover every charge we made. Grrrr... This bank is frustrating the crap out of me.

    1 Votes
  • Fe
    feesrthem Mar 30, 2010

    Just need to add my latest checking account rip off. On March 18th I deposited $300.00 cash at their ATM, in their parking lot, to cover charges against my balance. This deposit left me with a positive balance. So, why was I still charged an overdraft fee of $35.00? I thought I had covered all my bases, made a CASH deposit, made it before 2PM and kept a receipt.

    But alas! I am told that the bank has a rule that if I didn't actually go INTO the bank, only $100.00 of my deposit would be available to cover incoming charges. Since I in fact did use their ATM, which by the way is for their convenience in order to hire less tellers, they were entitled to help themselves to my money. I was told by a supervisor that "it's our bank" and those are the rules of our bank. So, I said, because you create a rule that gives you the right to take my money, you have the right to take my money? And this is legal? Why can't I then make a rule that every time my ### aches, I charge them a fee? I think I will. And its aching right now. $35.00, please! What, you don't have it in your account? $35.00 please! What, now you're overdrawn? $35.00 please!

    The next time I make a deposit, I'll probably be wearing sneakers. I hope that I don't incur a fee for this. I better check the itsy bitsy print on the multipage contract I signed..oh wait a minute... I can't, cause they've changed it since then..and quite a lot.

    I guess the only safe way to keep from being robbed is just not make any deposit at all. So, that's what I'm gonna do. Banknorth, , , , , BuhBye!

    0 Votes
  • Co
    concerned citizin Mar 31, 2010

    hun look at my post they did the smae to me find more people!!!

    0 Votes
  • Co
    concerned citizin Mar 31, 2010

    same to me i meant to say sorry I know exactly what happened trust me! they are awful and need to be held responsible for theft!

    0 Votes
  • No
    Nobs21 Apr 15, 2010

    TD BANKNORTH= CROOKS

    It is nice to know that other individuals are as fury as I am about this. Here's my issue:

    I made a transaction online with a baseball bat company on 2/20/10 with my debit card for the amount of $136.00. At the time, I had a balance of $255.71 in my checking. The bat company ended up not having the product in stock at the time, so no transactions were made until 3/8 when the company sent over a "pending transaction". Apparently, the product was still not in stock so the pending transaction was dropped off with no money charged to my checking. However, on this date (3/8) I did not have $136.00 in the account, so I was charged a $35 overdraft fee. This ended up occurring a total of 3 times throughout the months of May and April, all pending transactions that dropped off, until the product was shipped on 4/2 when I was finally charged the $136.

    On 3/8, 3/10, and 3/23, the bat company held a "pending" transaction on my account which ended up dropping off and charged me nothing-- but for some reason, I was charged an overdraft fee from TD Banknorth twice for $35 and once for $70 . What puzzles me is how is it fair that a bank charges me an overdraft fee for a "pending" transaction that never took out any money? From a banks standpoint, isn't the reason for charging overdrafts due to the fact that they have to pay companies (whom you did business with) money that you don't have? In my case, no money was physically taken out for any of these "pendings". Therefore, I believe I shouldn't have been charged these overdrafts totaling $350 that I didn't have a hand in.

    To make things worse, none of these transactions were shown online (where I primarily look at my statements because I'm at college), all I received were overdraft statements in the mail. I went to a local TD branch to talk with a customer service rep and she replied that all they could do for me is meet me halfway on the overdrafts and reimburse me for $140. Due to my unknowing of these transactions, every time I swiped my card the overdrafts multiplied sending me further into negatives. With my account presently sitting at $-330, I take the offer of $140 as a slap in the face.

    Being a college student, I don't know what to do about this. I am speaking with the manager of the local branch in the next couple days, but I feel their response will be similar to the first. Anyone else think this is ridiculous?

    0 Votes
  • Le
    LemonZest Apr 30, 2010

    Everything everyone is saying is true. My direct deposit paycheck used to appear as "pending" in my account every other Friday, like clockwork, and by Monday, it would be all set. Recently, I got divorced and have less money in my account. One day, I made some purchases on a Monday, thinking my paycheck, WHICH WAS SENT TO BANKNORTH ON FRIDAY by the way, would be there as it always was. I was charged an overdraft $35 for every stinking small purchase I made that day. I started noticing that every time my account was low, they'd hold onto my direct deposit - not even showing it as pending - for a couple of business days. (Is this even legal?) This happened a few weeks in a row - holding my paycheck hostage, not the overdrafts. Funny, this past week, I had several hundred dollars in my account and no pending transactions, and guess what? My paycheck posted as it used to, on Friday morning. So, low account, they hold onto MY money. High account, they release MY money to me. But if you look back in my account history, they show the deposits are all in on Fridays, even though the money was NOT available to me when I had a low bank account/high risk for overdraft fees.

    0 Votes
  • Nh
    NHParalegal May 04, 2010

    Yes, me too. When I have a low balance my "pending" transactions sit there - whether it's a deposit or charge - for days just to see if they can scam me for more money. What I've been doing is printing everything - the pending transactions and the regular balance page - then printing it again once they go thru just to be able and show this to someone someday. You must print it as you see these transactions take place because TD Bank will "rerrange" the order to their liking and tell you it's how the transaction came in. But notice, it's in largest amount deducted first, so they can charge you for each "smaller" transaction. It is NOT how they are "completed" by the merchant as they say...

    I'm a paralegal and I swear I am going to find an attorney to help us. So everyone, keep a copy of all of this.

    Diana Banish
    203 Court St
    Keene, NH 03431
    [email protected]

    0 Votes
  • Nh
    NHParalegal May 04, 2010

    Oh, one more thing on the "pending" direct deposit...

    I just started direct deposit in January 2010. My deposit has never been "pending" until I was overdrawn. Then, and only then, was the "pending" held that way for days so that they could continue charging me $35 fees. Only problem for them was there were no other charges - and, once I called about it - suddenly - oh so suddenly - it was "completed."

    B.S. I tell ya.
    DB

    0 Votes

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