• Report: #843074

Complaint Review: TD Bank

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  • Submitted: Wed, February 22, 2012
  • Updated: Wed, February 22, 2012

  • Reported By: robin — jersey city New Jersey United States of America
TD Bank
47 newark st hoboken, New Jersey United States of America

TD Bank Misrepressented online statement and charged multiple overdraft fees without ever indecating a lack of funds. hoboken, New Jersey

*Consumer Comment: question

*Consumer Suggestion: It's obvious you don't keep an up to date check register or this likely wouldn't happen.

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Leading up to 2/14, I was monitoring my account very closely. I had over $800 in my account that morning, I deposited a check for $1400 from my employer (a NJ school district) that afternoon and verified with the teller that this check would clear before any new charges would post to my account. As it was valentines day I went and did some shopping. When I got home that night (well after banking hours) I checked my account again. I still had a posative balence that exceeded the two pending charges that had appeared on my account. The next day there were several new charges, but I still had a posative balence. two days later I recieved a letter saying that my account had been overdrawn 4 times and I was charged $35 for each. To this day there is still no indecation on my account statement that I was overdrawn, but appearently I was over drawn for the night of the 14th and then my funds cleared on the 15th. Because the bank decucts charges at the end of the day, starting with the lagest amont first, I ended up with 4 overdrafts instead of one, and two of those charges were less than half the fee that was charged for them.

I find this misinformation and deliberate targeting of financially disadvantaged customers amoral, unethical, and if it is not illegal it should be!

This report was posted on Ripoff Report on 02/22/2012 05:35 PM and is a permanent record located here: http://www.ripoffreport.com/r/TD-Bank/hoboken-New-Jersey-07030/TD-Bank-Misrepressented-online-statement-and-charged-multiple-overdraft-fees-without-ever-843074. 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 2Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

question

AUTHOR: coast - (USA)

What do you do for the school district? I hope you drive a bus or mow lawns and that you're not an educator.
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#2 Consumer Suggestion

It's obvious you don't keep an up to date check register or this likely wouldn't happen.

AUTHOR: Ken - (USA)

"Leading up to 2/14, I was monitoring my account very closely. I had over $800 in my account that morning, I deposited a check for $1400 from my employer (a NJ school district) that afternoon and verified with the teller that this check would clear before any new charges would post to my account..."
I would bet you were looking at your balance online or asking the teller.  NONE will keep you out of trouble with NSF's.
Your minimum wage teller has no way of knowing what transactions will process and when.

You MUST maintain an accurate, up to date check register and then check online, or with the teller, to see if your deposit(s) funds are available yet.  My credit union's online account information shows everything including a separate area of funds currently available.

If you continue to do business the way you currently do, you'll find this will continue to happen.
You must track ALL forms of activity in your account, including debit cards and any auto-pays you may have.
Ask someone at the bank for some help with tracking your account.

BTW, under your current means of checking your account, this will happen at ANY bank you would do business with.
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