Complaint Review: TD Bank -
TD Bank Arbitrarily Refused Payment To My Vendors
*Consumer Comment: Emails?
A Cautionary Tale Of Using TD Bank As A Small Business Owner
I own a small business that relies on emailing approximately 90,000 subscribers two to three times a week. Failure to email in any given day can impact my monthly revenue by nearly 10% for every day missed so I use the autopay aspect of my debit/credit card with TD Bank so no payment could be missed by accident.
Unfortunately TD Bank has a policy of suspending payments through my card when they determine there to be “suspicious activity”. In November of 2019 they determined that the monthly charge from my email company, that had occurred every month for nearly two years, was suspicious and denied payment. This resulted in the email company failing to email to my subscribers for several days reducing my monthly revenue in November by nearly 20%.
Two issues: First, why is a regularly debited amount from a known vendor considered suspicious? (they say they can’t tell me why); and second, why am I not notified that such activity has caused an audit freezing activity on my card?
Their response is they can’t disclose the suspicious activity (it must be a TD Bank secret) and they have no idea why I wasn’t informed of the “audit freeze” but would take steps to rectify it.
Alas, now in January, 2020, just two months later, it happened again. With the same responses of “we can’t tell you why it happened” or why I wasn’t notified.
I am writing this to warn any small business owners that TD Bank cannot be trusted to perform the payments you authorize or to notify you when they halt activity on your business debit/credit card.
TD Bank has not been “small business friendly” to my business.
This report was posted on Ripoff Report on 01/29/2020 09:19 AM and is a permanent record located here: https://www.ripoffreport.com/report/td-bank/arbitrarily-refused-payment-1491031. 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. READ: Foreign websites steal our content
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