TD Bank review: bank account 27

I have been employee of Td Banknorth for over 3 years. In order to provide customers with a more accurate balance we will hold the pending transactions against your balance, the remaining balance is used for anything that will post that night against your account . Td banknorth does not charge overdraft fees for pending items .Its important to remember that the bank will post your deposits and credits first and then largest to smallest debit items. Merchants sometimes will authorize more than one transactions for the same amount as a result of computer problems or by error. If this happens the only way to remove these transactions is by a merchant release that must be done by the merchant by contacting the bank or if the item is a an electronic check or ach an stop payment may be placed on the items. If all else fails then a customer may file a dispute. Td Banknorth has many customers who are able to manage thier accounts without every recieving overdraft fees. No matter what bank you plan to use please keep a check register and use tools such as online banking as reference only. I truly am sorry for the stress that you've have had as result of overdrafts, its very important that we all are proactive in managing our money because others will not do it for us .

When I am doing a good deal of spending on my debit card I make sure to watch my online banking statement. TD banknorth has been doing this for a long time with juggling around transactions. As of this morning I am looking at my bankstatement and there is a transaction in pending and I'm being charged $105 for charges that they claim went against a balance that was not sufficient enough to cover them. YET... if you look at the banking statement it looks like there was more than enough to cover all of the transactions EXCEPT the pending transaction. So now on top of getting wacked for three overdrafts, I will get hit with a fourth one. When they originally presented the now pending transaction everything was perfectly fine and APPROVED and now all of a sudden I'm overdrafted. I have to start taking screen caps of my account through out the day to prove that I'm not going crazy and that things are getting moved around blatantly. This is a total scam.

OH and yes bankchick there are people who have no problems balancing their checking accounts when they have a cushion of money in their accounts. Some of us are trying to recover from hundreds and hundreds of dollars that banknorth has drained us of and a failing economy. There are also senior citizens who live on a fixed income such as another complaint against the bank states on this site.

I had the same thing happen to me. Around a month ago TD Banknorth charged me overdraft fees on transactions that were "pending" but my online balance was in the positive. I had to fight and fight with them to get my money back. Finally they did reverse the charges. Now they did it to me again and this time they are refusing to refund me. As soon as I can I am transferring my money to DCU Credit Union. I have only heard good things about DCU and suggest everyone to close out and find another bank other than TD Banknorth!

They have done the same thing to me several times. The most recent being Jan. 21. I had a roughly $600 balance in the positive, and just above it on the online statement there is a $140 overdraft fee. I can not find anywhere in the past 8 months where I overdrafted.

And on top of that, they are very quick to charge an overdraft, but they sure take their time processing your deposit. It took nearly a week for my last deposit to go through. These people are criminals.

The same thing happened to me this week. I had a $12.oo and a $10.00 pending charge, and they counted these as unavailable funds, so I had an overdraft fee on a $3.00 item and a $16.oo item. They slapped a $70.oo overdraft fee on me. The the next day when the 12 and 10 dollar charges were paid out, of course there was not enough to cover them, because of the $70 fee, so I incurred another $70 fee. I feel this is double dipping. The pending charges were already counted once, contributing to my overdraft, then they were counted again when they were actually posted. I will be taking this to a higher up.

I would be interested in being part of any class action lawsuit. I have had the exact same thing happen to me. Over the last 6 months I have been charged over $500 in OD fees. I went to the bank today, for about the fifth time, armed with the print out from my online banking that showed positive available, positive balances everywhere and a ‘pending’ $70 fee for that day. The woman I spoke with simply didn’t even look at my documentation. She was really hostile. When I told her that I wanted to know if the online banking was ‘inaccurate’ and the ATM avail. Balance was inaccurate as well so that I could prevent this from happening again, she went and got her manager who was even more hostile. She stood there, with a bank full of people, and stated that I had a ‘history’ of this. I said I didn’t have a history but that I have been trying to identifying whatever the problem is with the bank for several months, and they keep blowing me off. I pointed to my print out and asked her to show me where my account was negative or overdrawn here, she simply stated ‘the funds weren’t available’. I said where is that posted here? She stated, well its your responsibility its your account. I am in the process of closing ALL of my accounts. When I went to my new bank, in speaking with a teller there, she said that her boyfriend had the exact problem around Christmas time, and they blamed him as well.

Now I see that many, many people are being ripped off by TD Banknorth (a Canadian company BTW) and it needs to stop. I’m collecting info and am looking for any class action or any lawsuits currently being filed. If you have any information about any suits please let me know.

They have done the same exact thing to do about 5 times now. They always find a way to charge you with some kind of outrageous "service fee" or overdraft fee and nobody explains it. I always find myself fighting with them and all they have to say is "the funds were unavailable". They scam you! They will get you for anything and everything. I am in the process of transferring to DCU credit union. That is, after I fight for my $160.00 in fee's they're pushing on me, when I had the money!

This is unreal. After reading all of these complaints I can't help but feel that something should be done to get the word out about these unfair charges. I recently had $210.00 in fees assessed against my account in between two visits on two consecutive days, one in which I made a cash deposit from a check from a client of mine ( from td banknorth, no less ) and another deposit made the next morning. Both receipts from my deposits showed a positive available balance, but when I got home in the afternoon of the 2nd day, I was hit w/ $210.00 in fees, because my deposit was in pending along with the pending debits. They all went through on the same day, but TDBN decided to process the debits first, hit me with the fees, and then process my deposits. Now I am going to assess more fees because my latest deposit that night won't clear in time to cover the purchases I made during the day when I assumed I had a positive balance. This is the second month in a row they have done this to me, and they act like it's my fault for not keeping better track of my account. Well, I am very diligent about keeping track and I write down everything in my register the minute after I make any transaction. In the state of the economy today, business practices like this need to be shouted from the rooftops. It's a shame that the government can bail out the banks and encourage them all to lend again, but instead they continue to treat their customers like second class citizens and screw them evry chance they get. I am closing my TDBN account as soon as the dust clears.

Hi, I just filed a complaint, too.
bankchick, you are so rude. So, what are you saying? That us folks who are complaining can't do math? Maybe we should add that to the lawsuit. I bet TDBanknorth will be happy with you for that. You know, you are supposed to act in good faith on behalf of the company that you work for, and that means protect them from other suits for saying rude things to customers! Well, good for them people who don't get OD fees. We did not bounce the ones that they just did! They just charged us over $500 in less than 24 hours! Dear God, someone must stop this madness. We call the bank and nothing gets done. We e-mail from online and get snobby remarks and short rude answers and no one does a thing. Now they will, with the attorney we hire. Of course, someone from the bank will defend the bank. Hey, good for you! But when you say things like that to insinuate that we are not keeping good records, how dare you!
I hope everyone gets their problems solved with this bank. We are never going to use them again. As a matter of fact, we will not use any bank. Keep our money just for us and then the bank cannot make extra from us. It seems like there is a problem with TDBanknorth every time we turn our head. Unbelievable. And they are never wrong, oh no, it must be the customer, huh? Well, TD, see you in court. God bless!

I am trying to get a response from them as to why they charge and OD fee, return the check to the payee, charge me another $35 for a returned check. They are sure quick to answer with some evasive explanation as stated by many comments above but it now 4 days and I haven't heard anything. I am going to contact the State Attorney General (MA), the FTC and lodge a complaint with the BBB. This is absolutely criminal. I have had the same problems as many above. You see a positive balance. Then the next day things miraculously cleared over night, they reorder your transactions and start slapping on the fees. I am afraid to look at my account online sometimes because I am afraid of how much they have taken from me. You can never go back with a printout and try to figure out what happened. I need to let a few things clear and then I am getting out of there.

Please, I switched over to DCU after I got out of my mess with TD Bank and I AM SO MUCH HAPPIER. TD Bank advertises as "americas most convenient bank" BULL! all they do is rip off and take advantage of their customers. they have HORRIBLE customer service, and they scam you! but they're so powerful as a company and a bank that it's impossible to fight, giving many customers no option but to give up and pay the fees. well it's ridiculous! I wish we could bring them down for good.

I was wondering the new ad changing TD Banknorth to just TD Bank with Regis and Kelly from the today show. How much of the bailout money was paid back before paying out millions on this new advertistment changing name? As a former customer of TD this irks me even more as it shows they really don't care about the small people they profess to care about and yes they got me for about $235 and they never even acknowledge my letters to Maine either.

bankchick, I'd love to know what branch you work at it. Iam hoping you could help me with the $210 charge I just received for pending transactions.

Banknorth are thieves. They have done the same things to me. Since July 2009, they have robbed me of $1, 100. Complaints are filed. If anyone knows of class actions lawsuits being litigated. Please contact me at oats123@comcast.net. By the way...bankchick. YOUR AN IDIOT!

TDBanknorth and the new name they have TD Bank, all are crooks. They do not listen to their customers. We asked them several times to close our account and they said they could not close it for 60 days. Meanwhile, they add fees to an account that is already negative. The thing is, we have a printed copy of the screen shot where WE KNEW our account was in the positive when they charged fees, for NO reason, and now they want over $1000! Never! We do not owe a dime to them. They made the errors and we will continue to fight this. We ALL need to fight this, because they DO make errors, HUGE ones! TD Bank will not make it. The customer service is very poor and one of them called us stupid, in so many words. Nice, huh? We know that we did not bounce anything and they charged fees which caused something to bounce. We went and drew out what WE KNEW was ours and have not talked to them since then. We are waiting for their corporate office to answer the latest letter. They need to be advertised a lot more. There is another site called ripoff.com. People should make blogs, too, and tell others and warn them NOT to use this bank. Good luck, everyone!

Are you kidding me, Maggie. Are you reading correctly. I DID NOT OVER DRAW!

TD is charging people OD's when they DO NOT OVERDRAW. I really wish that people would read the comments before making inconsiderate remarks, and acting like they are superior or better than us who have legit comments and problems with this bank. Thank you!

And it is quite obvious that Maggie went through and gave us ALL a vote down. I returned the favor for you, Maggie, and voted you down, then I voted everyone esle back up, except for bankchick. Have a wonderful day and if you do not have a complaint with this bank, you should not be making comments. MYOB

LMBO maggie. Please spare us the moral royalties. You missed the main point I wrote. You should MYOB. You do not have a complaint about TD bank, right? So, if you understand this, what are you doing here? Hello! It is a complaint board, not a blog. lol And..Maggie? You were the only other one in here, recently, besides me, and I don't vote myself down. Anyhoooo... I have better things to do, too, like work, pay bills, act like the adult that I am, live life, care for my family, and so on.

Thanks, Principissa. :o)

I thank the Lord that I am not perfect, as it would be a miserable world to live in if I bit off everyone's heads that were not perfect, huh? Oh, like TD Bank. They are perfect, you know? They are good thieves, too, and they never have to pay for it. But...I have an excellent attorney and she is handling them now. Good luck everyone who has had troubles with TD. Take them to court, for real. It works. :o)
good luck to all who feel the need to fill that void in their own hearts and souls (God works well for that) and they have to butt in where they do not belong. Maggie, you should start a blog on blogger.com. You will meet firends, chat, have fun, and can earn money while you are at it, and it will fill that empty void so you will not have to come to a complaint board and write when you are not complaining. Huh? Hope I could be of service to you. I really do care about people. That is why I say it how it is. We all learn new things and it does not hurt us to learn when to leave things alone, walk away, MYOB, Mind My Own Business, etc. :o)
As for TD Bank, I hope they go away, and I hope that everyone sues them and wins. They truly are crooks and the people who are making the errors should be fined, too, in court, and then fired. Take care all! :o)

Has anyone tried actually filing a police report? If you can show you had a positive balance, and they still took an OD fee, isn't that theft?

LadyRaven, Good idea, but it can't be done. We have to go through the small claims courts.

LOL maggie. The old saying goes, the innocent remain quiet, as they know their innocence is already proven, the guilty make a lot of noise, as they are nervous and ridden with guilt and panic under pressure. lol

Principissa, Good one. :o) Later all, gotta work and study. :o)

Maggie, you need to GET oveR y o u r s e l f!, You sanctimonious prig.

BANKCHICK IS A LIAR or maybe "just" ignorant! THAT GOES FOR MAGGIE, TOO.

bankchick's comment claimed "In order to provide customers with a more accurate balance we will hold the pending transactions against your balance, the remaining balance is used for anything that will post that night against your account" which USED TO BE how they handled pending transactions but NO LONGER IS.

Maggie said "using online or phone balances is financial suicide -- there may be checks/debits that haven't gone to the bank yet" but in fact BANKNORTH IS PERFECTLY ABLE TO PROVIDE ACCURATE AND UP-TO-DATE BALANCES TO CUSTOMERS VIA PHONE OR ONLINE. They CHOSE to stop doing it -- any Banknorth customer who's been with them more than a couple of years will remember, though they may be doubting their own memory given the bank's new "party line" that if the customer doesn't keep a paper register it's our own fault.

Think about it: Every time you use a debit card, for either a debit or credit transaction, you have to wait while the charge "goes through" -- TO THE BANK. It is virtually IMPOSSIBLE for there to be debit-card transactions which "haven't" gone to the bank yet, and even paper checks, nowadays, are sometimes verified by merchants before they agree to accept them. A store would have to be crazy NOT to confirm debit/credit transactions, even if they have to use the old-fashioned card "swiper" where an impression of the card is taken on carbon paper and phone in to verify the card hasn't been reported stolen or otherwise deactivated, since if they DON'T confirm with their credit/debit-processing service and the transaction turns out to be fraudulent, they're out the amount of the transaction and probably face fees from the processing service, too!

How I know "bankchick" and "Maggie" are wrong:
My fiancee has been a Banknorth customer since her hometown bank merged with them back in 2000, and the quote from bankchick accurately describes how pending transactions USED TO BE handled both before and after the merger, but NO LONGER IS as of at least the spring of 2008. Not 2009, 2008! Jackie (my fiancee) couldn't figure out why she kept getting hit with overdrafts when she always checked her balance via the toll-free number (or at the latest, later the same day as the transaction so she could transfer funds from her direct deposit account to her debit account to cover the charge if necessary) and her balance had seemed more than robust enough to cover the charges.

She went down to the local branch to find out what was going on and get the OD fees corrected and, after explaining three or four times how she checked her balance before transactions and not getting an answer from the manager explaining how that could happen... the manager suddenly dropped the bombshell that the automated system customers access with the bank's toll-free number (as well as online banking, which we don't use) NO LONGER ACCURATELY REFLECTS THE CURRENT ACCOUNT BALANCE, that the bank is aware of this and, not only do they not consider it a problem to be fixed, they DID IT ON PURPOSE. That's right, a TD manager ADMITTED that the bank is DELIBERATELY MISLEADING CUSTOMERS in order to trick them into overdrafts.

The manager then claimed that customers had been notified of the change by mail, but we went back through 6 months of statements and found nothing about this change, though other changes to how accounts are handled are of course noted on (mailed) monthly account statements. The manager claimed that it was customers' responsibility to keep a check register for their debit accounts -- but what's the point of providing the automated phone system, online banking and/or ATM balance inquiry "services" if the bank is KNOWINGLY giving the customer false and misleading account info with them?

And IT GETS WORSE -- the next time she got hit with an OD charge, Jackie again went to the local branch to find out what was going on, since as far as she'd been able to tell she had been leaving a cushion of at least $200 in her account! Well, Banknorth apparently "got wise" to cautious customers, and had kept a substantial pending transaction IN PENDING STATUS until Jackie finally made another debit purchase -- they can and will do this for not just two but THREE OR EVEN FOUR WEEKS so that they can have the outstanding charge post without warning when the customer has every reason to expect it had already posted.

BUT -- WAIT FOR IT -- Jackie agreed to pay that fee, and prepared to transfer funds from the DD account into the debit account to prevent further fees & regain a positive balance, but only after the bank personnel checked THE BANK'S SYSTEM for any other pending transactions, so that she could be sure to deposit enough to cover everything that was coming. THE BANK TOLD HER THERE WERE NO MORE OUTSTANDING TRANSACTIONS according to the bank's own system -- the one that's kept up to date while customers are kept in the dark via the phone system, online and ATM inquiries. She transferred more than enough funds anyway, right there in the bank, after confirming with the teller that this type of transaction (between two Banknorth accounts solely owned by the same customer) would not experience any sort of "posting delay" that might cause her to be charged another fee for letting the balance remain negative another day. They told her it would be posted that same day (or at worst first thing the next day, but before any fees would be deducted). BUT THE VERY NEXT DAY A PENDING TRANSACTION HIT THE ACCOUNT AND TOOK IT NEGATIVE AGAIN!

At that point, Jackie, fed up, decided she just wouldn't do business with them anymore until they stopped lying to her face and restored her balance to what it should have been without the manufactured overdrafts. (She's always been willing to pay OD fees when it's her own mistake, and has never written a check that bounced.) Instead, Banknorth just kept racking up charges for the next 5 months, for an eventual total of over $800, at which point they closed the account and sent it to collections.

Ironically, Jackie still has the DD account -- which, since what gets direct-deposited is her SSDI checks (Jackie has MS and NMH, among other things) the bank cannot seize funds from to pay charges they claim she owes on the other account -- which she's hoping to use as leverage to get them to try to keep her as a customer.

But using that account (which, remember, is where the disability check that's her only income goes) has become increasingly problematic logistically, because the bank NEVER ISSUED HER A SEPARATE ATM CARD for the DD account, bundling it in with the debit card from the other account instead... YET EVEN THOUGH BOTH ACCOUNTS WERE ON THE SAME DEBIT CARD she couldn't transfer funds between them via ATM, and THEY PERSISTENTLY REFUSED TO USE THE SECOND ACCOUNT TO COVER OVERDRAFTS because it was checking, not savings. That's right: because she was NOT costing the bank anything in interest paid out on the DD account, and in fact ensuring them a tidy interest profit on the majority of each month's SSDI check, they REFUSED TO LET HER COVER THE OVERDRAFTS AUTOMATICALLY.

And, of course, when she asked -- on numerous occasions, just as she asked to link the two accounts already sharing one ATM/debit card several times -- why the bank didn't just decline transactions for amounts less than the OD fee, she was NEVER ALLOWED TO OPT OUT OF OVERDRAFT "PROTECTION." It's a "protection" racket! No wonder Senator Dodd and others in Congress are (finally!) stepping in.

Here's a post that I used to welcome a new branch of TD Bank:

Hello Residents of (List town)

If you decide to choose TD Bank you may experience Excessive Fees as I have. I had a Simply Free Checking account that the bank switched to a Convenince Checking. I was notified by letter that there was an account change about to happen. In my busyness with work & school I did not take the time to read the letter. Page 6 mentioned an account balance minimum requirement change. TD Bank began automatically charging me $15 per month. In my loyalty I stayed with them (my mistake). As money got tighter I began to have car problems. I transferred money from another account. It cleared the other account a day earlier & yet TD Bank had it listed as pending. They then charged me $140 (35 x 4). I do not want this to happen to you if you go through a tough time financially. My suggestion to you is do yourself a favor & choose Citizens bank they will actually pay you to bank with them with transaction incentives & they have a no mimimum requirement free checking or choose a credit union where you will also not be taken advantage of.

well I was going to switch to a TDbank debit since I have an account there for several different things but I think I will stay with citizens they are great and have had an account with them for a long time with no problems...I was looking to have everything in 1 bank but I guess each bank has its strong and weak points maybe they changed their name so they could hide from their own greedy actions against people

they are thieves and take advantage of young and diabled people convincing them to sign up for things they don't understand and then rape the crap out of them in OD fees for little more than 2 cents over! and if you ask to put a hault on your account so you can pay them when you notice the infraction GOOD LUCK snowball effect! NOT A GOOOD BANK go somewhere lece its just better than even take a chance on your credit or actually trying to have a friggin life here Isn't this world bad enough! hard enough! whatever take your own risk and make your own choice but i'm telling you better to know than get so unpleasantly supprised!

Whoever starts the suit against TD North, I'd like to be added. They did the exact thing to me and my account which I had no choice but to close because they took my entire Unemployment check and wouldn't listen or cared about the error. Don't do business with TD Banknorth! By the way, I'm sure all of those over draft charges paid for Regis and his co-host to do their commercials. How much do you think that cost? Who paid for it? TD wouldn't have to have exorbitant charges to their customers if they didn't run these stupid commercials.