• Report: #461778
Complaint Review:

TD Banknorth

  • Submitted: Mon, June 15, 2009
  • Updated: Tue, June 16, 2009

  • Reported By:Bangor, ME Maine
TD Banknorth
www.tdbanknorth.com Bangor, Maine U.S.A.
  • Phone: 207-947-0211
  • Web:
  • Category: Banks

TD Banknorth I was charged over $600 in fees, without a good explanation! Bangor Maine

*Consumer Comment: A couple of considerations

*Consumer Comment: Bad Management Has Nothing to do With Your Situation

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I have been banking with TD Banknorth for about 10 years now. For the most part I have been pleased with the service that I have received. However in the past year I have been discusted with them.

When anyone has a checking account, or a debit card. There is a clear understanding that, if you are spending money, that it needs to be in your account. If not you will either be declined or charged a fee. I have no problem with this.

My current problem with TD Banknorth started one week ago today. I began that buisness day with a balance of $7.23.. I know not much but as a single dad with 3 jobs, I do what I can. I made a deposit of $150, I then bought groceries, and gas. The total that I spent was $94.32. Basic math says I had $157.23 in the account and I spent $94.32. One would think my balance should have been 62.91. That would be wrong. According to them my balance was $-7.09. And the following day I was charged $175.00 in fees.

In the past week I have been charged over $630.00 in fees!!

I went into my local branch to speak with someone about it. The woman that actually spoke to me was very pleasant, and kind. And, out of her control. The branch manager, who wouldn't even speak to me, offered to reverse $70. worth of charges. Thats it. And then wanted the woman that actually was talking to me mention that I was about to be charged an additional $105.

I would love to see every account holder in the bank close their accounts and see TD on the news begging for a bailout from the government to keep their doors open, and getting denied, before going out of buisness.

In the world where I live when you do buisness. You have to treat your coustomers well and if not, don't expect to have a buisness for long. The company has made some poor choices, bad investments, hired the wrong upper management, etc etc. It is not my place as an account holder to be paying for the companies mistakes.

Philip S
Bangor, ME, Maine

This report was posted on Ripoff Report on 06/15/2009 01:17 PM and is a permanent record located here: http://www.ripoffreport.com/reports/td-banknorth/bangor-maine-04401/td-banknorth-i-was-charged-over-600-in-fees-without-a-good-explanation-bangor-maine-461778. 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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#1 Consumer Comment

A couple of considerations

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

When you make a deposit, it isn't available until it posts, which is usually at night. If you deposited a check, there could potentially be a check hold involved.

Assuming that TDBN posts debits before credits, you still had a balance of $7.23 when you went out and used your card, and all those debits will hit before the deposit, causing overdrafts. The short story is that you cannot draw out the funds that you just deposited, youhave to give them time to post.

Echoing what Jim said, if you are running that tight, ditch the debit card. It isn't your friend. In the case you described, if you had written checks (or used the cash) instead of using the debit card, you would have avoided all those fees.

Good luck
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#2 Consumer Comment

Bad Management Has Nothing to do With Your Situation

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

Your situation is actually caused by your own mismanagement. The balance you indicated of $7.23 may not have been your balance - the available balance in the account was probably far less (in fact it was already negative by that point) for the simple reason that you had pending transactions that had yet to post to your account. The real balance in your account can only be found in your check register and if you don't keep a check register (which is clear because if the $7.23 were the balance in your account, this would not be much of an issue). The amount of your pending transactions = $70.00. When you consider the pending transactions, the balance in your account is exactly as the bank indicated.

If you want to stop this insanity, please stop using a debit card and stick to cash and checks. That should stop some of this..... Best of luck to you.
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