• Report: #690771

Complaint Review: TD Bank

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  • Submitted: Fri, February 04, 2011
  • Updated: Thu, February 17, 2011

  • Reported By: American Voice — New Jersey United States of America
TD Bank
Ryders Lane Internet United States of America

TD Bank, Commerce Bank TD Bank rips Americans, Internet

*Consumer Comment: Okay, the ARROGANT bank defenders need proof??

*Consumer Suggestion: My Experience

*Consumer Comment: Dumbest statement ever?

*Consumer Comment: Hey Ronny, nothing 'subjective" at all. Just the facts.

*Consumer Comment: The term "rip off" apparently is subjective...

*Consumer Comment: No, Tee333

*General Comment: Registers actually do work

*Consumer Comment: Check Registers Are Not Enough

*Consumer Comment: I agree

*Consumer Comment: Since there are computer programs that are used to 'rig' elections, then it's possible that the banks are doing it too! Anyone can 'Google' this- AMERICA: FREEDOM TO FASCISM, and watch.......

*Consumer Comment: Yup

*Consumer Comment: There is no substitute for a checkbook register!

*Consumer Comment: You'll be back

*Consumer Comment: maintain a check register

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Stay away from TD Bank, save your money.

Their online system is totally disengaged from reality.Sequence of transactions doesnt jive with reality, so your balance becomes negative and TD Bank will change you with overdraft fees.Customer service would not help you at all.They did agree in local branch and suggested not to use online tools to check account balance or look at my transactions, instead they suggested to use a registry book (a paper version of my balance).It is 2011 and I should be able to check my balance and it should be accurate.

One day I walked in local branch and asked for my balance; the teller said that they can only tell me what balance I had two day ago.Is this a bank institution or a joke?I think after they became TD Bank, they outsourced and modified transactions processing, because for many years with Commerce Bank I havent seen such discrepancy.Few month ago my balance went from $3000 to -$3000 (3k negative).They froze my account and also admitted that it was due to programming glitch.

It happened on Friday, so they suggested to wait till Monday till they resolve this issue.I could not use my hard earned money entire weekend, I could not buy anything for my wife and kids.This is ridiculous. Ive had a very disgusting and frustrating experience with TD Bank and just want to let you know what Ive been through, so you dont go through this like many people did including myself.

I paid over $300 in overdraft fees just to get out of this bank.TD Bank became a very sloppy American business.

I switched to (((competitor's name redacted))) bank and I really enjoy great online tools and awesome customer service.TD Bank will go out of business.

sorry, allowing you to give a competitors name would instigate others to just file against their competition, to only come back later to suggest their company, ..plus, if you post a competitors name more than likely they will show up on search engines as a Rip-off! - - your comments on this policy are welcome. CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report. In this case we removed an alleged competitors name

This report was posted on Ripoff Report on 02/04/2011 10:34 AM and is a permanent record located here: http://www.ripoffreport.com/r/TD-Bank/internet/TD-Bank-Commerce-Bank-TD-Bank-rips-Americans-Internet-690771. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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0Author 14Consumer 0Employee/Owner
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#1 Consumer Comment

Okay, the ARROGANT bank defenders need proof??

AUTHOR: Ronny g - (USA)

Wachovia..

View up-to-date balances and up to 90 days of activity on your checking, savings, and investment money market accounts, as well as installment loans, credit cards, CDs, and lines of credit.Access your accounts securely and conveniently through Wachovia Mobile®. (Learn More)View, print, and save up to seven years of your bank statements with Online Statements. (Learn More)Transfer funds between your eligible Wachovia accounts1 and your non-Wachovia accounts at U.S. financial institutions.2 (Learn More)Pay bills quickly and easily with Online BillPay—it’s faster than writing and mailing a check. (Learn More) Find, view, print, or save copies of posted checks.Get your account balances delivered to your email or wireless device with free Balance Alerts. (Learn More)Re-order checks, stop payment on checks, and send secure messages to and from Wachovia customer service.In addition to having free access to Online Banking with BillPay, you have the option to access account information directly through your Quicken® or QuickBooks® software for $5.95 per month after a free trial period.

Wells Fargo..


Wells Fargo OnlineSign Up Now Welcome! With this tour, you’ll see how easy it is to access your accounts online and take care of your everyday banking anytime anywhere it’s convenient for you. You can do everything from checking your balances and transferring money between accounts to viewing your monthly statements and receiving and paying bills online. Use the page links to the left or the Next links near the bottom of each page to get a preview of Wells Fargo Online®.On the Account Summary screen, you’ll see all your accounts broken out by account type.

Bank of America...

This is a great option for you if you want to save time, and are comfortable with banking online and using paperless statements.3,4 You can avoid the $8.95 monthly fee if you: Complete all of your deposits and withdrawals at the ATM ANDChoose online paperless statements, which are easy on the environment.

Chase...

Paperless Statements are a great way to stay organized while helping the environment. Instead of getting a paper statement in the mail, we'll send you an e-mail letting you know your statement is ready to be viewed – just visit Chase.com to see it. It's simple, fast and FREE.
Fast Access – Review and print up to six years of statements online Safe – You're protected by advanced encryption technology Green – Save trees and energy by saving paper Simple – Update your account settings anytime

US BANK...


Stay Secure, Save Paper and Save Time U.S. Bank is proud to offer a paperless option to managing your money. Our free online statements are a great way to help the environment and keep your financial information secure. There's no fee to enroll, and you'll significantly decrease the chances of being a victim of fraud or identity theft as a result of stolen documents from your mail. With Online Statements you can: Get automatic Account Alerts when your statement is readyDeter fraud and safeguard your financial data by removing the paper trailReduce clutter and save paper, eliminate excess paper on your deskConveniently manage your account online - anytime, anywhere View, print and save up to 18 months of statements Start enjoying all the great benefits of Online Statements. Enroll in U.S. Bank Internet Banking and sign up for Online Statements today!

Oh...and just for our good friend Steve..let's not forget First Premier...

Online Statements are a great way to organize your financial life. You can view your statements online eliminating the need to shuffle paper every month. Take a look at the advantages of going paperless: Easy online access of checking and savings statementsReceive your statement fasterReduce the risk of mail fraudOnline statements are official documents which you can use for taxes, record keeping, etc.Statements are viewed in pdf so you may access, save or print them at any timeThey are absolutely FREE!


So..I guess every customer who fell for this is an idiot according to Steve?..who BTW signed up with First Premier..Americas WORST SUB PRIME bank. Now why would such a banking expert and self proclaimed "advocate of personal responsibility" ever have needed to sign up with the inventor of the nearly 80% APR? I don't know?..someone educate me please?
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#2 Consumer Suggestion

My Experience

AUTHOR: Cory - (U.S.A.)

I've used a paper check register since I opened my first checking account 36 years ago. The one and ONLY NSF I ever had, is when I closed that account a year later and withdrew the money that was left in the account. One check hadn't cleared after 2 months, did and I got hit with that check and the NSF fee of $5. From that time on, I've maintained an accurate check register. A couple of years ago, my banks required that I get an ATM card for my business account and have access to online banking. I gotta tell you. Normally I could tell you within a couple of cents how much was in my account according to my register. It took me no more then a week to drop ONLINE banking. I had NO CLUE how much money was in my account. All the financial monkey business with holds and such. Monies going in and out. Deposits not showing up and then showing up days later. No rhyme or reason, no logical sequence to anything. No wonder none of thesev people can figure out their accounts and I've been doing it for 36 years. I haven't had a NSF in the following 36 years and don't plan to and it's because I use a check register. Banks hate people like us. We watch our money like hawks. I've caught the bank a number of times making errors IN THEIR FAVOR, at my expense, just call my bank officer and he straightens them out. If I hadn't kept such good records of entries, they might be able to argue, but they can't argue with someone with their ducks lined up and their facts straight. Watch your pennies and the dollars take care of themselves. I'll be damned if I'm gonna give one extra cent to a bank or other financial institutional.
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#3 Consumer Comment

Dumbest statement ever?

AUTHOR: Robert - (U.S.A.)

Many banks advertise and promote online banking as a "great" way to "manage" the account. And yes..many use a register, then realize it is useless as toilet paper since it does not jive with what the banks statements post...so they will then decide to rely on the online statement. And this is where the scam comes in, or a big part of it.

- Really Ronny?  So you are saying that someone actually uses a register where they KNOW what they have spent.  But because the On-Line banking may not have something post right away they no longer trust what THEY wrote?  So as a result they decide that the bank must be right, and they stop using their register. 

While we have a lot to choose from, this is probably one of the dumbest statements you have made.
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#4 Consumer Comment

Hey Ronny, nothing 'subjective" at all. Just the facts.

AUTHOR: Steve - (U.S.A.)

Ronny always defends the lazy and the stupid in these alleged banking "rip offs". 
It makes me wonder if he has the same problems with his checking account.

The fact of the matter is that no bank has ever advertised the fact that you can get your up to the minute balance with online banking. I have never seen that avdertised.

When a bank advertises online banking, it is doing so to HELP you manage your account, along with your checkbook register. Never did a bank ever advertise that you could use online banking for the total management of your account.

Anyone who thinks they can properly manage a checking account without some form of written register is a total moron.

I have never paid an NSF fee in over 30 years of having checking accounts.
That is because I properly manage my accounts with the use of a register.

>The OP tells the whole story. Stupid and lazy is the problem here. No rip off.>
>


Stay away from TD Bank, save your money. Their online system is totally disengaged from reality. Sequence of transactions doesn’t jive with reality, so your balance becomes negative and TD Bank will change you with overdraft fees.[NO, your balance becomes negative because you don't keep your own register] Customer service would not help you at all. They did agree in local branch and suggested not to use online tools to check account balance or look at my transactions, instead they suggested to use a registry book (a paper version of my balance). It is 2011 and I should be able to check my balance and it should be accurate.  One day I walked in local branch and asked for my balance; the teller said that they can only tell me what balance I had two day ago. Is this a bank institution or a joke? I think after they became TD Bank, they outsourced and modified transactions processing, because for many years with Commerce Bank I haven’t seen such discrepancy. Few month ago my balance went from $3000 to -$3000 (3k negative). They froze my account and also admitted that it was due to programming glitch.  It happened on Friday, so they suggested to wait till Monday till they resolve this issue. I could not use my hard earned money entire weekend, I could not buy anything for my wife and kids. This is ridiculous. I’ve had a very disgusting and frustrating experience with TD Bank and just want to let you know what I’ve been through, so you don’t go through this like many people did including myself.  I paid over $300 in overdraft fees just to get out of this bank. TD Bank became a very sloppy American business.[Really, what about your own sloppy and lazy account management practices?] I switched to (((competitor's name redacted))) bank and I really enjoy great online tools and awesome customer service. TD Bank will go out of business.>
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#5 Consumer Comment

The term "rip off" apparently is subjective...

AUTHOR: Ronny g - (USA)

There is no problem with anyone leaving advice as to the best way to avoid overdraft fees...but when someone like Steve replies with "No rip off here"...well perhaps he needs a little schooling himself.

Now granted, I nor anyone else can argue that if you do keep an accurate register and never spend more then is in the account, you can hedge you bets against an overdraft fee unless an unknown/unauthorized "hold" or fraudulent activity take place against the account, or check clearing times are falsified.

But, non of this "advice" seems to address the FACT that some banks have been and are continuing conducting scams and fraud against account holders and it certainly at the very least is unethical, which is why all the lawsuits and losses.

Many banks advertise and promote online banking as a "great" way to "manage" the account. And yes..many use a register, then realize it is useless as toilet paper since it does not jive with what the banks statements post...so they will then decide to rely on the online statement. And this is where the scam comes in, or a big part of it. The bank as a lot more in it's favor then any other US business...think about it... Direct access to our savings and checking accounts, our direct deposits, right of offset, tax payer bailouts (aka TARP funds), well the list goes on and on.

I see this as quite simple..yes, I agree that if you do not spend more then is in the account and keep better track, you may not ever get an overdraft fee...but at the same time I understand why all the lawsuits the banks lose and will continue to lose will occur..because what the banks are doing to sucker people in and manipulate postings for the SOLE intent of maximizing fees, is criminal. And no crime should go unpunished. Yes, making a mistake on the account should and does cost a fee, but there is no "crime" in making a mistake on the account...however as concluded in courts of LAW, taking ADVANTAGE (or violating trust/not acting in good faith which renders contracts void etc) of a mistake by gouging loyal customers is certainly CONCLUDED a crime..which is why the banks have been and will continue to lose lawsuits regarding these types of tactics.

If anyone is too thick skulled to understand how I stated this in a simple form..go here and read the courts order. I can not simplify it any more then this...

A copy of the Court's order can be found here.


http://www.bank-overdraft.com/pdf/20100810-wells-fargo-finding.pdf
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#6 Consumer Comment

No, Tee333

AUTHOR: coast - (USA)

Tee333,

Deposits made after 2pm were credited the following business day "back in the good old days" just as they are today. The order the transactions are processed is not a factor with a properly maintained check register.
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#7 General Comment

Registers actually do work

AUTHOR: Striderq - (U.S.A.)

Subtract your checks, debit card purchases and automated payments when authorized and add your deposits when available in your account. Keep your register balance above zero and no fees.
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#8 Consumer Comment

Check Registers Are Not Enough

AUTHOR: Tee333 - (United States of America)

In the good old days this was a sensible practice, but this is a new era in which credits and debits are handled at the whim of the institution.  A check register, for example, would show that you deposited cash on a Friday after work, and did your shopping and errands on Saturday, and bought coffee and donuts on Sunday, or whatever...essentially using your debit card all weekend, secure in the knowledge that your weekly pay was deposited and was available to use.  But is it?  Who knows - you have to know the particular practices of your institution, and keep in mind that these practices are designed to provide revenue (in the form of fees) back to the institution. 

TD Bank was named in a class-action lawsuit (in MA) for practices that are said to be unfair, deceptive, and injurious to its own customers, due to the company allegedly not handling transactions in a typical check register process.  They, along with other banks, are said to process transactions in a manner that will reduce your bank balance the most, first, and credit monies received later, in any given business-day window.  The customer service reps will sound much like the comments above mine - maintain a register! keep track! - which is somewhat unhelpful for reasons already mentioned.  A company, or industry, that so vigorously seeks fees from its customers, especially by stacking the deck in its own favor and relying on their customers not seeing the fine print, should not be trusted.  It's that simple.

Lastly, the fact that it is an "American" business as stated in your report is debatable - it's parent company is based in Toronto.          
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#9 Consumer Comment

I agree

AUTHOR: Stacey - (U.S.A.)

The ONLY way to maintain a correct checking account balance is to keep a check register/log of all your debits and credits. Online banking, phone and atm balances are NOT correct.

Take responsibility for your own actions and stop blaming the bank for YOUR mistakes.
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that documentary on the web where people were testifying that election machines can be 'rigged' in order for the outcome to be different, correct?

Make sure to watch the entire documentary on the web.

Thank You

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*Make sure to type in the following at this site and read all of the Ripoff Reports for valuable information-
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#11 Consumer Comment

Yup

AUTHOR: coast - (USA)

Lazy & stupid do NOT= "rip off".

Lazy & stupid does= $300 in overdraft fees

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#12 Consumer Comment

There is no substitute for a checkbook register!

AUTHOR: Steve - (U.S.A.)

There is no substitute for a checkbook register.

Online banking and telephone banking are there for your convenience, but were never intended to replace the checkbook register.

It makes no difference what bank you are with, you will have the same problems there too if you do not keep an accuratecheckbook register.

Just plain old common sense would tell you that there would be no way a bank could tell you your real time accurate balance. How could they know if you have outstanding checks or scheduled transactions, etc??

No "rip off" here.

Just another irresponsible person who is too lazy to maintain an accurate checkbook register. Lazy & stupid do NOT= "rip off".

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#13 Consumer Comment

You'll be back

AUTHOR: Robert - (U.S.A.)

Yes you will be back writting a report on your new bank for the same thing.

Why..because nothing in this report shows you learned and are taking responsibility for your account. You were(and probably still are)relying on On-Line banking and the tellers to let you know what your balance is.

They were right..you MUST use a written register.

It is 2011 and I should be able to check my balance and it should be accurate.

WRONG. On-line banking was never meant to take the place of a written register. There are several cases,most totally outside of the control of the bank, where your balance will not represent exactly what you have spent. One's that would of course be in the bank's control is an error on their part. If they truly took a $3,000 balance to -$3,000 and it was their mistake then you have a valid complaint. If that "glitch" caused the overdraft fees then they need to make good on those.

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#14 Consumer Comment

maintain a check register

AUTHOR: coast - (USA)

"It is 2011 and I should be able to check my balance and it should be accurate."

The online info does not include outstanding transactions that have not been presented to the bank.

"I paid over $300 in overdraft fees"

That is why you need to maintain a check register.

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