TD Bank review: overdraft fees?!? 52

I've been dealing with the TD Bank for over 20 years ... think your going to hear a story of a satisfied client, well believe me I"M NOT .. problem is what bank isn't a crook .. if the locksmith's could built a beet home lock I'd keep my money under the mattress ... just thinking about dealing with the bank makes my stomach turn !

I've had the same problem with the overdraft. They only charged me $70 though, for a $2 overdraft which wasn't even my fault, but we won't go there. I believe they shouldn't let you overdraft at all. Decline my card if you want, I just don't want to pay $35/day for a $2 overdraft! It's insane, I wouldn't be so mad if it was a $35 initial charge then $5/day after that.

Are you a simp Maggie? A debit card, in nature is based on the available funds. If the bank is not accounting the available funds correctly, then overdrafts should be on them. Do some research on the FDIC Funds Expediency Act before you open your ingnorant mouth.

Maggie, you clueless girl. NO THEY SHOULD NOT CHARGE OVERDRAFT FEES if there is no money in the account. THEY SHOULD REJECT THE TRANSACTION! I've been with Commerce Bank since 1996. I'm out of here now that it became TD Bank.

You can call call them as much as you want to get the overdraft protection off of your account and they won't take it off. I have never had so many problems with Commerce bank now that it is TD. When you call to settle the problem, they are rude and do not help. All i know is that I will never use this bank again. They do not keep their information up to date and they are not convenient if you ask me. All they've got going for them are their hours. I'll deal with shorter hours at a bank I can trust.

I DO NOT NEED OVERDRAFT PROTECTION. DECLINE MY CARD IF I DON'T HAVE THE MONEY. I EXPECT MY ACCOUNT BALANCE TO BE CORRECT WHEN I CHECK IT.

I do not have the time to jot down every purchase I make, if my account balance cannot be accurate when I call to check it, then this bank doesn't do me any good.

I've had the same problem with the "overdraft protection" I declined the overdraft protection last month yet they still passed a transaction which I had on an auto deduct, which is bad enough but I'll take the $35 charge for my error. What I can't except is that I use my card for parking and most charges are $1.50. So 7 of these $1.50 charges were "pending" for 2 days before the overdraft. All of a sudden I have $280 in overdraft charges. Of course when you go in, it's your fault for not keeping track of your account, but if they had declined the charge ( by me opting out) as they were supposed to, it would never have been a problem. I feel like creating a new Drive through window and driving through the front door!

Your an IDIOT Maggie. With the computer systems today your account should be CURRENT to the second. There system is NOT. Furthermore, its BS how there computer system posts.

I just incurred 210 Late Fees for (6) debit transacti0ns that TOTALED less than $25.00. I also had a $175 check hit on the same day. Was I overdrawn YES. Was it my fault YES. But there "computer system posts from smallest amount first to largest amount" So I have (6) debit transactions of $2.33, $2.61, $4.51, etc. and get banged for $210 instead of one $35 fee for just the one check.

Bottome Line: They are out to "F" people!

I agree with "Pissed On" wholeheartedly. I just incurred numerous overdraft fees for using my Mac card when the account went negative.
These transactions should have been declined when the account went negative. They allow them to go through so they can make their $35.00 per transaction fee off of you.
I called the customer service line. The person with whom I spoke too, said I could "OPT OUT." This means I could sign a paper that would stop my account from going negative when using my MAC card.
My response was why did they not offer this to me when I opened the account. They did not even mention this to me at all.
Why must I be charged an exuberant amount of money before they reveal this secret to me.
And to all of those people out there who tell me to keep track of my check book. Well, I check my account on line on a daily basis. The problem is I see something totally different then what they see or what their computer sees. If I make a deposit today, it may count today or it may count tomorrow. It depends on how much they can get from me in fees if it does not count right away.
For instances, I deposited my wifes pay check yesterday. Her paycheck is drawn on TD Bank. For some strange reason, today I find out that because I did not have enough in my account to cover this check, they have to hold it for one business day. Now, conveniently, I am charged more overdraft fees. And my on line statement does not show any negative balances even after they took their $70.00 fees. But the customer service team sees it differently then we do. And conveniently, it cost me more in overdraft fees.
So, basically shove your "Keep your checkbook balanced and this will not happen" BS up your *^S

This would be Bernie Madoff's dream ponzi bank. They are big on debit cards - not credit cards - and their ever shifting rules about how many DAYS it takes them to credit your account with a deposit versus how many SECONDS it takes them to debit your account are enough to bankrupt anyone with their ridiculous fees.

I have been to their local bank twice to tell them to stop paying anything that looks like an overdraft and yet they still keep doing it and if they occassionally (and randomly) stop payment, well they hit you with a fee for that "service." The only way to know what you balance really is is to go to their bank and get it printed out from one of those no human being machines. Their trick is to hold back deposits so you unknowingly get into a negative balance situation.

Today I visited to prepare to get the hell out of the Scam Bank of all time and found this out: if I withdrew my $5000 today, and if I had any outstanding credits due me in this post Christmas season, I wouldn't be getting the credit. They, even for a fee, wouldn't send me a check for said refund. So I am forced to stay there for yet another month though I will never again use their debit card or their checks. And soon I will be free at last.

And don't blame Canada. TD does not do business this way in Canada. Try blaming Barney Frank and friends who have made all of these slippery transactions legal in this country. He admits he is trying to bring capitalism to its knees and doesn't give a damn about how many just regular folks get wiped out along his march to communism.

The saddest part of this is Commerce Bank was such a people oriented enterprise that TD came in and just by manipulating computers has turn the honest Commerce into the Scam TD. It's so bad they are making mattresses look attractive!

I recently experienced the same issues as all of the above. I use my debit card exclusively and am credit card free. TD took it upon themselves to "as a courtesy" provide me with overdrafting with my debit card. I had already made up my mind to leave this bank after my retirement check was deposited on the first of the month which fell on a Saturday and had no access to it until Monday. Never with Commerce, your money was available on the first or the day before a holiday if it fell on the first.

After redirecting my payroll and retirement checks elsewhere, I started meticulously depleteing my TD account watching every dime making sure not to overdraw. Then I noticed the $10 under $100 fee. I called and asked them to waive the fee because I had been a customer for over 10 years and because I opened my account in DE, had never been charged a monthly fee. In NJ it had always been $10 so needless to say, I told others to go open their account in DE. I had an over 50 account where you got free money orders, safety deposit free for one year and half price after that which I enjoyed.
They then offered me the economy acct for $3 per month which I took knowing I was gonna close the account anyway.

The I went to the atm and withdrew $10 when I looked at the receipt it said $11 in the negative. By the time I checked the next day, I was $46 in the negative. Oh hellllll no.
I went to a branch and that is when I found out about the overdraft courtesy. I was like look, in the past if the money was not there I couldn't debit it. I want the fees off and I want them off now, I did not give you permission to put that on my account. They took it off and told me that another $35 was gonna hit but they could not take it off until it hit. I deposited $50 as a front cause I was getting the hell out of this bank cause they are crazy. A couple days later I withdrew $30 knowing that I had left enough for their $3 fee.

Today, something told me to call the bank and close my account. I called and checked my balance first, low and behold, it was negative $81. I flew downstairs to my computer cause I knew I had not written any checks. Well the $35 fee had hit, then they hit me for withdrawing the $30 another $35 and because I did not satisfy the $70 within 5 days they hit me with a $20 fee. OMG!

I called that bank and went through the roof. He agreed to clear the fees but I was not satisfied, I told them I was writing my Senators and Assemblymen because it was theft.
I asked to have the call escalated and when the gentleman got on the phone he went over my account meticulously all the way back to October. Guess what? TD had taken $140 out of my account in November for overdraft fees and I had completely overlooked it. It was for debit use. He was a nice gentleman and credited all of the money back and when I got off the phone, I had a $140 balance instead of -$81.

This bank is totally off kilter and that is why I got online and googled TD Bank complaints because I knew I was not the only one...TD will see me first thing in the morning and I will withdraw the whole $140 and gues what...I'M OUTTA HERE!

I EMPLORE EVERYONE TO JOIN A LOCAL OR DISTANT CREDIT UNION! Members own the credit union and make your voices heard when it comes to the fees.

The fact that the complaints I see here are exactly the hell I am going through with TD Bank makes me believe that it is not just them being inept, but they are actually being very successful at stealing from their own clients.
Commerce Bank was great. They posted transactions so quickly to your account that you could always rely on Online Banking for an up-to-the-minute balance. You never got overdraft fees because they would simply deny the transaction if there were no funds.

TD is terrible. The balance that they list cannot be trusted, so you must therefore break out a pen and paper and manually balance your account. Then they opt you in automatically for overdraft protection which hits you with a $35 fee every time that you make a $2 charge that puts you in the negative (often after they've taken days to process a deposit or previous transaction).
I've tried to opt out 5 times for the overdraft protection and then still find overdraft fees. On the sixth time to the bank the manager told me that the Opt out was only for checks, not debit transactions---which is completely contrary to what each of the five previous bank employees told me and also contrary to the letter sent out by TD to inform me of each overdraft.

Yet TD continues to promote their 3-time "Best Customer Service" award by JD Power & Associates which wasn't even won by them. It was won by Commerce Bank and TD has since undone everything that Commerce did to win those awards.

EVERYONE, WRITE TO JD POWER AND TELL THEM THAT TD BETTER NOT WIN ANY AWARDS THIS YEAR!

I've been with Commerce Bank since 2002, and thought it was bad then, now it is worse than ever. Give you an example. When my company Direct Deposit a payroll, it used to post at midnight, now, it posts at 7AM the next day or later. That's not the end. When I pay bills online, from the time that I enter the amounts to Payees, to actually processing them, take 3 days for some, which "disappears" into the Twilight Zone until when the funds are low (thinking the $ went out already from online checking) then voila! Overdraft. So now, when I purchase something with a debit card, I am hit with 2x overdraft. Nice. I swear to God, TD Bank is scammers, crooks, you name it. Yesterday was the last straw, I would sue them if I had the time and money. They allow my debit charges on low funds to go through, then screw you with $35. Not only that, they make it difficult for me to get regular checks because I opened an account in NY, and I live in NJ, they can't "link" my savings and checking, and not able to get checks for me. Rep on the phone saids that "I need to go into a branch." Where? NY? NJ? They don't know. They suck, I hope they go bankrupt and the government don't bail them out. They are no different extortionists, scammers, and the like.

I got hit with $430 in over draft fees on my DEBIT card, which shouldn't even be possible. $35 for every time you charge anything while you are overdrawn, plus over draft fees after that. With commerce (which was a bank I had no complaints with whatsoever) I had no overdraft ###, and I'm about to go to TD and close all my accounts. They are thieves; what they are doing should be ILLEGAL. It is not reasonable in the least to have overdraft on by default, it is not a service - it is a scam to steal money from their customers. They are also levy a poor tax on those with less then $100 in the bank account, $15 a month. I would never recommend anyone to sign up for TD, they are not even international, so when I lost my card overseas they were completely useless, they couldn't even mail me a new card, I had to have a relative come and pick it up and then mail it. They are ###.

They have all been 'coached' on what to say. Some people who work behind the desks even AGREE (sshhhhh) its wrong. The managers always take the corporate approach with their replies... "We are listening to you" But they are doing nothing about it! Its Thievery and they know it! They have cost me over $500 this past year! IM OUTTA HERE

Does anyone read their terms? I'm sure when Commerce became TD they sent you terms, a user agreement, etc. I GUARANTEE you that the overdraft service is listed in there, and if you didn't want it, you should have opted out immediately. Instead, you wait until you don't manage your own account and your own money correctly and get charged with a fee, that you would have known about had you actually read what you were agreeing to, to get mad about it. Seriously. Overdraft is a service. So if you're in a bind and you need to go negative, well, they let you. then LEND you that money. and, it costs you. that's what overdraft is. don't want it? OPT OUT.

Next. to the person whining about how quickly debits come out and how long credits take, you clearly don't understand the process of depositing a check, so i'll help you. You give your bank the check, then they package it up and mail it to the Federal Reserve who looks at it, makes sure its real and then packs it up and mails it to the bank it came from who looks at the persons account and then, if the money is there, sends it back to your bank. This process could take up to 14 days. FOURTEEN DAYS. Now. TD gives you $100 immediately, and the rest the next business day, in most cases. Seriously. They're giving you that money before they know that they are even gonna get it. It could take them 13 more days to find out if it cleared. But they gave it to you, because they trust your judgement of where the check you have came from.

Also, your direct deposit used to come at midnight, congrats. now it comes at 7am. well, that's how it's really supposed to be. you were the exception at midnight, now you're the rule. that's life.

Can you just be practical people. Now matter how you look at it, TD is a BUSINESS. Do any of you own businesses? Would you ever take a check from someone and give them the money for it without knowing if it was gonna clear? Cause that's what TD does when they credit your deposits within a day. Would you give someone extra money they didnt have because they absolutely needed it? Maybe once or twice. But what if EVERYONE always wanted EXTRA money they didn't have? That wouldnt be practical business wise. So, when you need to overdraft, they let you, but they charge you for it. I think that's perfectly fair. Manage your account better, or OPT OUT.

Does TD make mistakes? Absolutely. Because, believe it or not, theyre human. Like us. Have things been a little ridiculous with the merger and then the computer updating? Maybe, yea. But they arent theives or liars. They are a business, and their fees and services are all upfront and explained. Just read it. I personally think it's a great bank and if you do what you should with your money, you'd agree.

@ ohhhokayyyy

Hey buddy, let me first tell you I did and have been OPTED out for any type of overdraft fee and I have told TD a ton of times not to pay anything unless the money is there. I have gone into the bank and signed all their documents but just 2 days ago I was charged $140 in over draft fees because thier system takes the "largest" and post that to the smallest. I was charged $35 for a $3.74 charge at a wawa and also a $35 overdraft charge for a $10 ATM withdraw.

If I don't have the money why would they allow the ATM withdraw? Because they are thief's. My wife and I have been with them for the past 8 years and commerce was a great bank but not anymore. My wife works for Bank Of America and they don't do this ### with their accounts. This is the last straw and we have finally moved to BOFA and like I told the supervisor on the phone today, "You'll get your overdraft fees but I'll be paying them in pennies" so keep an eye out on the news in S Jersey for the next few weeks because I'll be walking in with $140 in pennies UNROLLED!

BTW ohhhokayyyy, It's apparent you work for TD. You can move on to another place to troll because you're not going to save any customers here. Oh and TDBank###ingSucks.com will be online soon enough.

ohahhkay,

TD Bank does NOT offer overdraft protection. They have excessive fee processing methods. A $35 charge per transaction is not protecting customers. Real overdraft protection involves, for example $500 available where you pay 7% interest while you are in the negative. There are banks that offer Real overdraft protection, Free Checking accounts with no minimum balance requirements. Bottom Line: TD Banks products are expensive compared to other banks & credit unions. Also, how do you explain TD Bank's decision to increase our minimum balance requirement by $100 during the recession that the US has had in decades? Was that convenient to the customers? I think it was unethical & predatory. I have never had such a freeing feeling as when I closed my TD Bank checking Account.

Ohh0hkay,

The recession that we are in is the WORST recession in decades. What is "Convenient" about the timing of a $100 increase to minimum balance requirements to customers during a recession? & don't give me the line about TD Bank sent you a letter. It was on page 6 & I was working full time & going to school part time. Even if I took the time to read the letter & go to the bank to change my account it would still be inconvenient & an inferior checking account compared to other banks & credit unions. I'm actually saving money now with interest & not spending money on fees now that I switched from TD Bank.

I bought a sweatshirt at a festival that somehow did not take the money out until almost a month after I bought it. My account went negative by $0.27. Then all the small amounts I withdrew for a soda and for Redbox started racking up the overdrafts. The notice that I would be charged came in the mail two days later. I do not check online every day, but I do check often. When I got this letter I checked my computer and had already racked up $315. WHAT! I went negative maybe 20 bucks and now have to give up almost half of my paycheck for overdraft fees. I could understand a $35 fee for the first over draw and then more for every week or even day that is overdrawn, but every transaction is absolutely ridicules. I am leaving TD Bank first thing tomorrow morning.

OMG we r having the same issues. our acct is positive and all of a sudden we will have nsf fees all over the place and dont kno y! this bank is horrible with horrible customer service!

Hi from Canada kick this bank out of the US I think they are now being controlled by aliens

TD BANK has unfair banking practices. although they could not show me a negative balance, "they assured" me that the $210 they charged me for overdrafts in April 2010 was appropriate. Both my bank statement and the print out the bank gave me showed NO NEGATIVE BALANCES!

Now, May 2010, here they go again, another $175 in overdraft fees that they say I was in the negative except THEY COULD NOT SHOW ME ANY NEGATIVE BALANCES.

This cannot be legal. They can just take $585 from my account in 2 months without showing any proof that I EVER had a negative balance. There really needs to be a CLASS ACTION.

S. Ballew
Davie Florida

hmmmm...lets think about this for a minute...first thing u said...tdbank allowed a credit card company to levy your acct? ITS A LEVY! do u know what that means? it means it was COURT ORDERED banks cant tell them no too bad! and hold on did u say levy? that means that u obviously owe someone else a HUGE amt of money that you have CLEARLY avoided for WAAAY too long for it to get to levy status. stop acting like a victim and get ur sht together!

I was a customer to TD and I always have problem with any transaction with them .When i applied to HELOC (Home equity line of credit), they took longer time than usual and was running credit checks again and again within that their delayed loan closing. And then when i was refinancing the property, i was needed the subordination on HELOC. The whole stroy is so bad. They tell you that it takes 5 to 7 businessdays. But, they will ask for new new document and each time they say the turn around time is 3 to 5 business days. It will more than a month and by the time the lender to refiance lock gets expired. You got to pay for the re-locks without knowing the subordination. This sucks. Please do not choose subordination from TD. Please do not go for any transactions with TD.

My issue with TD Bank is that they do not update their system in a timely manner. I had 5 debit card via paypal charges go through about 5 days after the fact.. I had thought these charges were already processed when in actuality they were not. My husband used my paypal debit card for gas an tolls an incidentals.. totaling about $50 in a matter of 4 days. I had thought these charges were already processed through TD.. turns out.. each charge (5 of them) when through last night putting me into the negative. I called and was told I'd be charged $35 per over draft plus the overdraft.. so now we're talking about $238 in fees.
I cannot believe that this is in any way legal to do this. In one night all 5 charges went through. If in one night I became overdrawn.. I should only be charged $35 ONCE not 5 frickin times. I am going to do some research and possibly file a complaint against this type of practice. It exudes nothing but greed on the part of the bank. Maybe a person could be more apt to keeping 'track' as some of the writers here say, if TD Bank would just have a current up to date system. I really does screw things up for many people and the reason behind it is so that TD bank can make a killing off the struggling people out there.

TD Bank North is a Joke. I have been watching my account closely now since the frequency of their so called NSF. Like just yesterday I checked online and I was neg, I called and asked if I made a deposit early am would my account get charged. I was assured that I would not get charged, and low and behold I was charged. I had to call again and get it reversed. This is an ongoing issue with them as I see above from all of the other comlaints. I do know how to balance my check book and resent them trying to belittle me over the phone and through email. This Bank is just out to get more money from its customers. I have made me formal complaint online to the BBB and hope you all will do the same. Also I am in search of a new bank...Any suggestions on a bank that treats customers like people not like a CASH COW.

TD Bank is running an interesting scam on the American public. Now that I've switched my account to a local credit union I notice that PayPal transfers, which typically took 5 days with TD, take one or two days with my credit union. PayPal would indicate that the transfer was "complete, " yet, oddly enough, TD Bank did not. Generally they wouldn't show the PP transfer as "complete" until after a debit had come in, allowing for an overdraft charge. Likewise with any deposited checks. Yet deposits of checks are available immediately with my credit union. Regis and Kelly should be ashamed of themselves for shilling for this crooked company. It's clear that TD is engaging in unethical procedures (probably not illegal since our own government is in on this scam).

I'm well aware of the overdraft fees but the bigger issue is deceptive posting practices. They deliberately wait to post the overdrafts several days later (all at once) in order to collect astronomical fees. Case in point, I made three separate overdrafts for small amounts (7 days apart). I typically keep track of all purchases but I had a family medical emergency and had a particulary 'off ' week. After 15 years of having the same account with NO problems, you would think the dingbats at TD bank would have considered forgiving the error considering my paycheck was direct deposited 12 HOURS after the 11pm overdraft post from the night before. 12 hours difference to incur a $105 fee? Really? Well banks come and go so there's no love lost when I close my account on Monday.

TD Bank is crooked and I'm sorry for the mindless robots that continue to post on their behalves. Suckers.

I checked my account tonight, and I was shocked to see an overdraft assessment of 140.00 to my account. On the 18th I was in the positive ending balance... The morning of the 19th my husbands check went in automatic deposit. They charged me the 140.00 for the pending transactions that CLEARED on the 19th AFTER his check went in. Someone explain how this is legal?

Let's sue these thieves, make them pay just like Wells Fargo, Wachovia did!

$175 charged in overdraft fees for a "service" I never willfully enrolled in, exasperating phone calls with several customer service representatives who refused to help...but a miraculous ending. Use the attached picture for the contact information that will actually make a difference. You may have to suffer through at least one pointless call to regular customer service before you can use the escalation information attached, but don't waste time asking for supervisors--they will all tell you the same thing. I used the attached information to send a fax and an email, and the situation was resolved within 24 hours. Good luck!

Hmmm...the picture didn't seem to take. Here's the information:
STEP 2
Elevate Your Concern
If you have contacted us and are not satisfied
with the resolution that has been suggested, your
concern can be referred to a representative of the
Senior Management Team by simply talking to
your branch. Alternatively, you can elevate your
concern using the contact information below.
For escalations, please contact us at:
Mail: TD Canada Trust Customer Feedback
Toronto-Dominion Centre
P.O. Box 193, Toronto, ON M5K 1H6
Fax: [protected]
Phone: [protected]
Email: customerfeedback@td.com

To make a long story short: Applied online and completed in person at a store. They lost my signature card (but of course not my deposit) and had to go back in to fill out another. Two weeks later, tried to use store-issued debit card for $50 purchase...declined. Tried to swipe again, cleared, but for only $48 dollars, had to fork over $2 in cash to vendor. Tried to use debit card again for second time this morning for $35 purchase...declined. Fuming, I return home to call them and they tell me there is a hold on my account from the authorization not having been put through from the SECOND signature card I had to fill out. This is three interactions and three issues with a completely new customer. I am cancelling my account here.

The Worst Bank EVEER!

New issue popping up... I was charged $100s of dollars in overdraft fees on PENDING AUTHORIZATIONS. I checked in to a hotel that authorized a large sum for security. When the actual charges came in the authorization was still on the account and they charged me overdraft fees. The next day the hold came off! They charged me fees on money I DIDN'T EVEN SPEND! Then the branch manager told me it was MY FAULT and that "pending authorization holds" count against my available balance regardless of if they're actual charges or not! Who wants to get in on a class action with me?

I depsoited a check in my bussiness checking acct on March 28th 2011, March 30th 2011, and April 3rd 2011 for some weird reason none of the checks are credited to my acct there still pending! So I went to the peolple that gave me the checks and they gave me copys of the cleared check I called the bank the bank tells me that I should have the issuing bank fax over to them the cleared check copy. This is suppose to be a bank this is their job not mine. Once these checks clear Im closing the accts. I had enough of a bank floating on my money. The only good thing they got going for them is that there open late. PS I filed a OCC complaint today as well.

commerce bank was a great back until td bank came along they have turned a great bank to total crap with not grandfather in accounts and overdraft fees and the way the pay checks so you get more overdraft fee, and customer service in general stinks they say one thing and in the bank they tell you something different on line balances are not right and then you get a fees stay clear of this bank if you have an account close it and run

Here is one everyone misses. The Federal Government has told banks to become more profitable to avoid future problems. The only way banks can make mpre money is to charge the customers more. So they either charge us more and icnur our wrath or do not make more profit and incur the Federal Government's wrath.

Glad I read your complaint. Will NOT be approaching TD bank for any of my banking needs after reading all this stuff.

I've been having numerous problems with them charging me fees "out of the blue".
It makes sense, each year as reported on their official Income Statement (that is RIGHT on their website) you can see that income from service charges is increasing every year. It's really sad that they are profiting from make-believe services such as fees, they're essentially stealing our money.
2008 = $1, 237, 000, 000.00
2009 = $1, 507, 000, 000.00
2010 = $1, 651, 000, 000.00

Its really astonishing that they can pull off $1.6 BILLION collectively from all of their clients.
Ladies and gentlemen, this is banking, at its finest.