TD Banknorth they are charging excessive bank fees Cherry Hill, New Jersey

From the OP:

"I HAVE A CHECKING ACCOUNT AT TD BANK. I RECEIVED 3 CONSECUTIVE CHARGES FOR OVERDRAWING MY ACCOUNT. WHEN I SAW MY ACCOUNT, I DID NOT HAVE A NEGATIVE BALANCE. THE CUSTOMER SERVICE AGENT THAT I SPOKE WITH SAID THAT SHE COULD NOT HELP ME BECAUSE I WAS NOT AT MY REGULAR BRANCH. I CALLED MY ORIGINAL BRANCH AND THEY WOULD NOT PUT ME THROUGH TO THE BANK MANAGER. I WAS DIVERTED TO CSR AND TOLD THAT BECAUSE I QUALIFY TO USE MY ACCOUNT INTO THE NEGATIVE, I HAVE TO ENCUR THESE CHARGES. I SAID THAT I WAS NEVER ADVISED ABOUT THIS POLICY AND THEY SAID THAT DID NOT MATTER."

Are you saying that the terms and condition for your account at this bank do not indicate that you will be charged an overdraft fee if you overdraft your checking account?

"WHEN I LOOKED AT MY ACCOUNT, IT WAS NOT NEGATIVE. TD BANK DID NOT UPDATE MY ACCOUNT FOR A COUPLE OF DAYS AND THEN UPDATED IT WITH THE CHARGES TO GO INTO THE NEGATIVE."

This strongly suggests that you are using online banking, phone banking or checking balances at the ATM machine. If that is the case, you should stop doing this. These systems were never intended to be used as a substitute for keeping an actual check register and they aren't accurate enough for that purpose.

"I JUST WANT THE $105.00 BECAUSE THIS IS MY GROCERY MONEY AND I WAS NOT INFORMED OF THIS POLICY. WHY WOULD A BANK EVER ALLOW SOMEONE TO OVERDRAW THEIR ACCOUNT?" 

Seriously?

Checking accounts require work and they are not for everybody. The account holder is ultimately responsible for the deposits, withdrawals and transactions that they authorize. It appears that you want somebody to save you from yourself and cut off your debit card if you spend too much. A prepaid debit card is probably a better product for you if you do not wish to manage your checking account.

UNFORTUNATELY THIS IS NOT JUST TD BANK, MOST BANKS CHARGE AN OVERDRAFT FEE IF YOU HAVE INSUFFICIENT FUNDS AND WILL ALLOW YOU TO STILL MAKE CHARGES WITH YOUR CREDIT CARD IF THE COMPUTERS STILL SHOW A POSITIVE BALANCE; TRUST ME FROM EXPERIENCE TD IS NOT THE ONLY BANK AND SOME OTHERS ARE EVEN WORSE THAN TD'S CHARGES.  THE BEST WAY TO KEEP THIS FROM HAPPENING IS IMMEDIATELY UPDATE YOUR ACCOUNT REGISTRY THAT YOU RECIEVED WHEN YOU OPENED YOU ACCOUNT.  DO NOT JUST POST CHECKS IN THERE BUT EVERYTHING FROM DEPOSITS, CREDIT PURCHASES; EVEN IF THEY ARE JUST SMALL PURCHASES AND YOUR ATM WITHDRAWLS AS WELL AND KEEP EVERY RECEIPT.  TOO OFTEN PEOPLE SAY "OH I'LL WRITE IT IN LATER AND THEN THEY LOSE THE RECEIPT AND FORGET THE AMOUNT, THEN THEY CHECK THEIR BALANCE ON THE ATM OR CALL THE 800 # OR WHAT HAVE YOU AND THEY ARE NEVER UPDATED CURRENTLY (AND THIS HAPPENS WITH ALL BANKS) BUT UNFORTUNATELY WE SEE THAT AMOUNT AND WE THINK IT AVAILABLE TO US.  WHAT I DO IS CARRY MY REGISTRY WITH ME ALL THE TIME BECAUSE IT IS RIGHT WITH MY CHECK BOOK AND EVERY TRANSACTION I MAKE FROM A CHECK WRITTEN, TO ATM WITHDRAWLS, CREDIT PURCHASES, DEPOSITS...EVERYTHING, I WRITE IN THE REGISTRY IMMEDIATELY; THIS WAY I KNOW EXACTLY HOW MUCH I HAVE IN MY ACCOUNT AND THOUGH THE ATM , OR THE 800# OR ONLINE BANKING MAY SAY I HAVE MORE I KNOW WHAT THE "TRUE" AMOUNT IS.  TRUST ME, AT FIRST IT SEEMS TEDIOUS, BUT WHEN YOU DO THIS YOU SHOULD NEVER WORRY ABOUT OVERDRAFT FEES BECAUSE YOU KEEP UP WITH THE ACCOUNT AND YOU WILL ALWAYS KNOW THE CORRECT BALANCE.

Consumer stated in report...

"I HAVE A CHECKING ACCOUNT AT TD BANK. I RECEIVED 3 CONSECUTIVE CHARGES FOR OVERDRAWING MY ACCOUNT. WHEN I SAW MY ACCOUNT, I DID NOT HAVE A NEGATIVE BALANCE. THE CUSTOMER SERVICE AGENT THAT I SPOKE WITH SAID THAT SHE COULD NOT HELP ME BECAUSE I WAS NOT AT MY REGULAR BRANCH. I CALLED MY ORIGINAL BRANCH AND THEY WOULD NOT PUT ME THROUGH TO THE BANK MANAGER. I WAS DIVERTED TO CSR AND TOLD THAT BECAUSE I QUALIFY TO USE MY ACCOUNT INTO THE NEGATIVE, I HAVE TO ENCUR THESE CHARGES. I SAID THAT I WAS NEVER ADVISED ABOUT THIS POLICY AND THEY SAID THAT DID NOT MATTER."

Edgeman replied...

"Are you saying that the terms and condition for your account at this bank do not indicate that you will be charged an overdraft fee if you overdraft your checking" account?

My reply...

Perhaps I should not have to speak for this customer...but what I think he is saying is that he could not see that his account had a negative balance..nor that he was aware he was enrolled in courtesy overdraft protection..which is the reason the account was allowed to be continually used when the balance was below zero.

Consumer stated in report...

"WHEN I LOOKED AT MY ACCOUNT, IT WAS NOT NEGATIVE. TD BANK DID NOT UPDATE MY ACCOUNT FOR A COUPLE OF DAYS AND THEN UPDATED IT WITH THE CHARGES TO GO INTO THE NEGATIVE."

Edgeman replied...

This strongly suggests that you are using online banking, phone banking or checking balances at the ATM machine. If that is the case, you should stop doing this. These systems were never intended to be used as a substitute for keeping an actual check register and they aren't accurate enough for that purpose.

My reply...

I agree with this statement...I just wonder if the bank informed him of this as well when signing up for online services...what are the odds the bank told him not to rely on the statement?


Consumer stated in report...

"I JUST WANT THE $105.00 BECAUSE THIS IS MY GROCERY MONEY AND I WAS NOT INFORMED OF THIS POLICY. WHY WOULD A BANK EVER ALLOW SOMEONE TO OVERDRAW THEIR ACCOUNT?" 

Edgeman replied...

Seriously?

Checking accounts require work and they are not for everybody. The account holder is ultimately responsible for the deposits, withdrawals and transactions that they authorize. It appears that you want somebody to save you from yourself and cut off your debit card if you spend too much. A prepaid debit card is probably a better product for you if you do not wish to manage your checking account.

My reply...

Perhaps a checking account does require some "work"....but how much work would it take for the bank to simply decline a transaction if the funds are unavailable? As a matter of fact.. perhaps this consumer is unaware that his bank will allow him to opt out of courtesy overdraft protection. I can understand from the banks point of view (greed, coruption, manipulation, lack of ethics etc) why the bank would not inform this customer that there are actually choices on how best to "protect" his account and money...but perhaps a visit to the bank and the simple request to opt out of courtesy overdraft protection can help prevent this from happening again.

Sure, it is everyone's responsibility to monitor their account balance...but when the bank ENCOURAGES using online banking..and the bank ENCOURAGES use of the debit card for everyday purchases...perhaps it could be in the realm of possibility that the bank can ENCOURAGE all possible ways to help their customers avoid overdrafting and knock off some of the Tom Foolery and shenanigans.