• Report: #1075943

Complaint Review: TD BANK OF OYSTER BAY / EAST NORWICH NY

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  • Submitted: Wed, August 14, 2013
  • Updated: Thu, August 15, 2013

  • Reported By: paul — Oyster Bay New York
TD BANK OF OYSTER BAY / EAST NORWICH NY
6340 Northern Blvd, East Norwich, NY 11732 EAST NORWICH / OYSTER BAY, New York USA
  • Phone: (516) 922-2163
  • Web:
  • Category: Banks

TD BANK OF OYSTER BAY / EAST NORWICH NY TD BANK OF OYSTER BAY / EAST NORWICH NY TD BANK STOLE MONEY FROM ME & MY BANK ACCOUNT EAST NORWICH / OYSTER BAY New York

*Consumer Comment: Oh really...

*Author of original report: TD BANK Oyster bay / East Norwich

*Author of original report: TD Bank is the worst Bank, even in Canada They steal customers money

*General Comment: Also...

*Consumer Comment: Okay...

*Author of original report: http://www.lawyersandsettlements.com/blog/tag/td-bank

*Author of original report: not wrong

*Author of original report: Read the article about the 62 million TD bank just paid out for ripping off its customers genius

*Consumer Comment: Wrong...

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WARNING DO NOT USE THIS BANK EVER...TRUST ME IN 30 YEARS OF BANKING I HAVE NEVER HAD BANKERS OR ANY BANK HAVE SUCH SHADY UNETHICAL OPERATION AS THIS BANK.  AND IF YOU GOOGLE TD BANK YOU WILL SEE THEY JUST SETTELED A OVER 60 MILLION DOLLAR LAWSUIT FOR RIPPING OFF THERE CUSTOMERS ON A REGULAR BASIS.

TD BANK of Oyster Bay NY or East Norwich bank is the worst bank I have ever used in my 30 years of banking.  I opened a account less then a month ago & they basically stole 660.00 they illegally charged me in overdraft fees.

When i realized they changed me for 10 overdraft fees of 35.00 each total of 350.00 I 1 immediately deposited 2,000 cash that day.  Then they had the nerve to charge me for 7 more at 35.00 each the following day claiming they were from pending transactions even thiugh I deposited enough in cash to cover any new payments.  When I spoke to 

Robert Lashuk OF TD BANK IS the banks manager, he acted like a robot.  This man could care less about his customers at all.  I finally spoke to his supervisor SUSAN ANIMOV OF TD BANK who only offered to take off 2 of the payments for total of 70.00.  Outrageous that a bank thats supposed to protect your monmey can steal it right from your hands.  THEY TOOK 660.00 OR I CONSIDER STOLE IT FROM ME.  THIS WAS A HORRIBLE EXPERIENCE FOR ME TO LEARN OF TD BANKS DECEPTIVE PRACTICES DO NOT OPEN A ACCOUNT AT THIS BANK EVER.  BIGGEST MISTAKE I EVER MADE.


This report was posted on Ripoff Report on 08/14/2013 08:10 PM and is a permanent record located here: http://www.ripoffreport.com/r/TD-BANK-OF-OYSTER-BAY-EAST-NORWICH-NY/EAST-NORWICH-OYSTER-BAY-New-York-11732/TD-BANK-OF-OYSTER-BAY-EAST-NORWICH-NY-TD-BANK-OF-OYSTER-BAY-EAST-NORWICH-NY-TD-BANK-S-1075943. 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.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

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REBUTTALS & REPLIES:
5Author 4Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

Oh really...

AUTHOR: Robert - ()

You stated the following on 8/14 "I know & understand overdraft fees".  If that is the case then why on 8/16 did you write an update complaining about getting overdraft fees when you went negative?  After all if you "know and understand" them then you obviously know that you can even get a fee if you are $0.01 negative and that fee is a set amount.  Or is your "knowelege" limited to thinking that the overdraft rules only apply to other people?

I am also still waiting to show how the amounts I gave would cause you to go negative based on the different ways they could post the transactions.  As well as on the answer as to why if with all of your banking experience why you switched from what ever bank you had and went to them..why didn't you stay with one of your other banks that you have had a good experience with?

Oh and I totally expect for you to ignore everything in this post instead finding another link to another blog about how bad this bank is.  Perhaps you should start a RipOff report on other banks because there are probably just as many blogs on how bad they are as well.

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#2 Author of original report

TD BANK Oyster bay / East Norwich

AUTHOR: Unhappy Client - ()

I also was charged huge fees for overdraft even from several $2.00 & $3.50 purchases TD bank charged me 35.00 for each..70 dollars for 5.50 worth of goods & refused to take off the charges.  This bank is rotten to the core dont ever use this bank or branch unless you want to loose more then you make for a living.

Not to be trusted...

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#3 Author of original report

TD Bank is the worst Bank, even in Canada They steal customers money

AUTHOR: David Q - ()

TD Bank Canada Unfair Overdraft Charges

TD Bank Canada Unfair Overdraft Charges

Canadian customers of TD Bank who were unfairly charged overdraft fees after their transactions were rearranged may be able to participate in a potential lawsuit to seek compensation for these charges. It has been alleged that TD Bank and other banks in Canada have been processing their customers’ transactions in a highest-to-lowest order to maximize the number of overdraft fees they can charge. This practice causes the consumer's account to be drained more quickly, and allows the bank to collect more fees than they would have if they processed the transactions in the order in which they were made.

If you are a Canadian resident who was charged unfair overdrafts by TD or any other bank in Canada, you may have legal recourse to collect compensation for your unfair overdraft fees. To find out if you are eligible, fill out our free, no obligation case review form today.

Unfair Overdraft Bank Practices Lead to Multi-Million Dollar Settlements in States

The practices allegedly being carried out being TD Bank Canada and other Canadian banks have been cited in a number of U.S. class action lawsuits. The majority of the U.S. suits were consolidated to Miami, to allow for consistent rulings and to have the cases resolve in an efficient manner. The litigation surrounding unfair overdraft charges not only gave consumers a chance to recover compensation for these fees, but also gave light to these practices. As a result of the growing complaints regarding unfair overdraft bank practices, the Consumer Financial Protection Bureau launched an investigation into several major banks to examine transaction re-ordering; the impact of overdraft fees on low-income and young consumers; deceptive marketing materials; and confusing customer communications. 

Many of the U.S. lawsuits regarding overdraft fees have been resolved, resulting in the following settlement amounts:

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#4 General Comment

Also...

AUTHOR: Tyg - ()

You do realize that although it is a DEBIT system, sometime the very business that YOU went to doesnt send it out immediatly. I know from my own experiences that Dennys resturant will post a debit transaction as late as a week. Also depending on if you have a regignized holiday a debit may not hit until the next available business day. So given those parameters, you could have racked up a impressive amount of late fees. You are also forgetting that no matter how much you would have put in, it debits against WHAT YOU HAD AVAILABLE AT THE TIME THE DEBIT WAS SUBMITTED. So if you had a $300 dollar purchase but only had $250, the bank would pay that amount and give you a OD fee. Even if you put money in right after the purchase. You are confussing the day of putting something in against the time of the purchase.

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#5 Consumer Comment

Okay...

AUTHOR: Robert - ()

Did you even read it the suit or thought the "62 Million" would be an attention grabber and no one would go beyond that. 

Well if you did further research you would find that banks such as Bank of America settled for about 410 Million in 2012, Chase settled for about 110 Million, and Citizens settled for about 137 Million just a couple of months before...so in the banking world 62 Million is well "chump change".  Oh and what did these multi-million dollar settlements get each member of the "class".  Well it was about the equivalent of 2 that is TWO overdraft fees.

Not to even mention that the TD suit covered people from 2003 to August 2010..so you don't even qualify as it is now 3 years later. 

But this doesn't even cover the core issue.  If you manage your account correctly and never spend more than you have available.  Regardless of how they post transactions it is impossible for them to post them in such a way to make you negative...you want a test..Okay take the following amounts and with a $100 balance give me an order of posting that makes the final amount negative.  $43, $21, $3, $2, $1, $9, $20.

You say you know and understand about overdraft fees.  Well if that is the case then why are you complaining...oh let me guess.  You "thought" that you could intentionally spend more than you have available and could either "float" the funds for a day or so or thought that they would post the transactions in a different order and you would only be charged a couple of overdraft fees.  Well if you had read the terms of the account..and yes this policy is in there, you would have found how they post transactions. 

I still have noticed you failed to mention why you went to this bank?  After all with 30 years of banking experience you must have had at least a few other banks..why didn't you stay(or go back) to them? 

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#6 Author of original report

http://www.lawyersandsettlements.com/blog/tag/td-bank

AUTHOR: paul - ()

A federal judge in Miami preliminary approved two settlements in the excessive overdraft fees class action lawsuits against TD Bank. If approved,  Banks would be the first two of 14 banks to settle their cases. The settlement agreement was for TD to pay $62 million. Cha ching!

The lawsuit alleged the banks charged excessive overdraft fees on checking account customers. Specifically, the banks’ internal computer system re-sequenced the actual order of its customers’ debit card and ATM transactions, by posting them in highest-to-lowest dollar amount rather than in the actual order in which they were initiated by customers and authorized by the bank. The plaintiffs alleged that this practice resulted in bank customers being charged substantially more in overdraft fees than if the debit card and ATM transactions had been posted in the order in which they were initiated and authorized.

this article is on thos website!

 

http://www.lawyersandsettlements.com/blog/tag/td-bank

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#7 Author of original report

not wrong

AUTHOR: paul - ()

TD Bank of Oyster Bay are shady as can be....I have never been ripped off by a bank in my lifetime.  I know & understand overdraft fees but TD bank of Oyster Bay / East Norwich took it to a new level today.  I have never even fined a complaint in my 44 years on thos planet for anything until today.  I was absolutely disgusted by there scam & stealing my funds.  Thay have no disregard for there customers & practice deceptive behavior like no other Bank I have ever see.  If i had googled then prior I would have never opened a account with them there are thousands of Rip off reports of there unprofessional business practices & now I know why!  So sorry sir you are quite wrong...maybe you should take a job & work there yourself and join the other crooks that work there!

Good luck top you buddy...im sure if this happened to you you wouldnt have bothered posting your response..

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#8 Author of original report

Read the article about the 62 million TD bank just paid out for ripping off its customers genius

AUTHOR: paul - ()

Court Approves $62M TD Bank Overdraft Class Action Settlement

By Mike Holter

 

TD BankA federal court on Monday approved a $62 million class action settlement between TD Bank and customers who say they were improperly charged overdraft fees. Eligible TD customers can expect to see a payment or account credit within the next few weeks.


The TD Bank overdraft settlement resolves allegations the bank reordered debit card transactions in order to maximize the number of overdraft fees it assessed to customers. Plaintiffs claimed that instead of declining transactions when an account had insufficient funds to cover the purchase, TD Bank authorized the transactions and then posted them from highest to lowest dollar amount to increase overdraft fees.

TD Bank denies the allegations but has agreed to pay $62 million to settle its portion of the case, which involves more than 30 other banks accused of the same improper overdraft fee policies (In re: Checking Account Overdraft Litigation).

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#9 Consumer Comment

Wrong...

AUTHOR: Robert - ()

2013-08-14 BIGGEST MISTAKE I EVER MADE.

- Wrong..the biggest mistake was not managing your account, instead relying on the bank to tell you when you were out of money. 

If you are someone who has been banking for 30 years and "says" that they have never had issues before either got very..very lucky, is lying, or actually managed their account before.  Yes..had you kept a register and written down every transaction as you made it..and(this is the important part) NEVER spent any more than you show you had available it would have been just about impossible to get a single OD fee let alone 17 fees.   Now of course the question you are probably asking is when is my deposits available.  Well every bank has a "Funds Availability" policy that states this.  You can also look on-line to find out when the deposit has posted and is available.  If you are a person who tries to "float" funds for a day or so..you are just asking for trouble because there is in reality no float anymore, and even when you write a check..you have to figure it could be posted the same day.

Also, if you still say they stole the money from you, then go down to your local police station and file a report.  When you do I really hope you come back here and tell us what they said.  Then another interesting question is why all of the sudden did you switch from your other bank..and just how many banks have you used before you thought that they were a horrible bank as well?

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