TD Banknorth online statements reflect incorrect balances, monies available, finding ways to collect more fee's Hartford, Connecticut

Two easy ways to prevent fees...

1) do not spend more then you have, only depend on your own records, not the banks

2) opt out of overdraft coverage...

The problem is, the banks encourage us to depend on the online statements as a reliable way to 'manage' our accounts. Just read ANY bank literature and you will notice this.

Of course many find out too late..that the 'available' balance as posted is not real time, transactions are held, come and go at will, are time re-sequenced and manipulated, and,,, if you trust the "available" balance as accurate, you will most likely overdraft.

Now you stated something in the report that is not true..and I quote..."Then you get the penalties, fee's that they thrive on, but they do say they're sorry!

Banks are big business and there's not much that probably can be done to stop this nonsense..."

There is something being done. Due to all the complaints regarding this..which was the banks "allowing" debit card transaction to be approved when the account was insufficient and giving customers a loan whether they wanted it or not, has not only landed most of the larger banks in a class action lawsuit, but required the feds to step in. ..

"Starting this summer (July 1st for new cards and August 15th for existing accounts) customers will have to opt-in to get overdraft protection on their account. So rather than getting charged $35 for that Snickers bar, your card will be declined. Some people will still prefer not to have their card declined, but you can bet that people are going to save a lot of money (and banks will lose a lot of money) without the automatic opt-in that many banks currently have."