Complain about a product or service

TD Ameritrade

Virginia of Williamstown, NJ February 27, 2010

I had an overdrawn 50+ checking account for about a month and was notified by letter 2/23/10 the Recovery Dept. would take further collection action if I did not bring the account to a positive. I was laid off from my work over a year ago and this difficulty with my account began in January due to an emergency at my home. I have been collecting unemployment for over a year and have been seeking employment and paying my bills regularly.

Additionally, I have a second 50+ checking account which I had used to pay my bills until I was able to bring the first 50+ checking account to a positive. I made a deposit from my unemployment claim to the 2nd 50+ checking account and TD Bank, WITHOUT NOTICE, withdrew half the amount due on the first checking account, which incidentally did not bring the account to a positive, leaving BOTH 50+ checking accounts in the negative. I literally have no money for food or to seek employment since both accounts are now in the negative.

I telephoned their online banking and was told they have a right to take whatever amount of money, at any time, from any accounts you may have WITHOUT authorization to recover the funds due on any account. The problem is the funds were taken WITHOUT NOTICE, and I, the consumer telephoned the the main branch in Lewiston, Maine and made arrangements to make payments on the first overdrawn account. I have banked with TD Bank/Commerce Bank for over 15 years and never encountered any problems until the merger in November, 2009.

Krista of Midland Park, NJ February 25, 2010

My advice to anyone with a a TD Bank debit card is to use the card as seldom as you can, particularly when your balance is running low. While many banks utilize the unethical (but still legal, to my knowledge) practice of "staggering" your charges so that the largest one will clear first, thus setting up your account to go into overdraft status so that you end up paying a 35 fee for, say, a 5 dollar cup of coffee, I find that this bank does it more than others I have patronized.

I have sent their Customer Service Reps a couple of emails stating that I take screen shots of my account activity (which I do) and can prove that they reorganized my charges in their favor. Both time, I received a standard reply that some charges take longer to clear, and they credited my account for some of the overdraft fees. Since I've let them know I'm on to them, I haven't had many problems.

Lots of banks are coming under fire for this practice and I'm sure they don't want to rock the boat. I really don't want to change banks, as my direct deposit and some bill payments are set up with TD Bank, and I figure most other banks would just try to rob me in the same way. Still, I try to withdraw and use cash as much as possible and limit use of my debit card, probably a smart practice to employ with a debit card from any bank.

Michelle of Collingswood, NJ February 1, 2010

In November my pocketbook got stolen I immediately closed all my accounts but they were able to use my debit card and charged 252.20 and then they tried to use it at a mac machine and was denied because they did not have the correct pin number. they sent my case to the fraud department of TD Bank and I did have a police report. within two weeks TD Bank refunded my money to my account

now 90 days later they decided that Im responsible for the 252.20 because they said the person had showed my license and the signatures matched. I asked if I could see the signature and I was told sorry we don't have it but this what the merchant said. So they said the only thing we can tell you is you have to get your money back from the merchant.

In December I received a phone call from the police department telling me they picked up two people that had my debit card on them. TD Bank is aware of this but they say I made the charge and Im responsible for it. how much more evidence do you need that it was not me, and so much for the banks standing behind you.

On top of everything else TD Bank had the nerve to deduct the 252.00 out of my new account without any notice which overdrew my account and then charged me a 35.00 overdraft fee which I did get back after I called and complained about the overdraft fee. I have been under a lot of stress since the whole situation started and still under a lot of stress because the only found my debit card so these people could still have my license and other charges that was not found even though my charges was closed but they still have my information.

Arleen of Warrington, PA January 16, 2010

TDBank repeatedly accepted electronic bill payments, immediately deducted the funds from my account and then created paper checks which they mailed to my credit card company, Bank of America which did not accept electronic fund transfers from TDBank due to "insufficient numbers of transactions". TDBank profited from the float this created. Bank of America profited from the the delay as well since my credit card account still could accrue interest during the delay in time of 6 to 10 days before posting.

I have been defrauded since my funds, have not provided me benefit during the time delay. I am not collecting interest on my money nor is my credit card balance being reduced. Both TDBank and Bank of America have use of my money and I do not. The damage individually is less signaficant than the damage to the group of depositors of TDBank and the credit card holders of Bank of America

April of Asbury Park, NJ December 22, 2009

I used to have accounts with commerce bank who recently merged with TD Bank. Ever since the merger I've had nothing but problems. First, they bounced a check, which they should have, and reported it as such. I paid the fee. 30 days later they realized they actually paid the check so they took my automatic payment for november and applied it to my "mysterious" bounced check. They basically cleared a check 30 days later and bounced my good check. THEN the federal reserve submitted for my now bad november payment 3x more and td bank assessed fees that they made me inccur! Now, they are letting me use my atm card past my limit and assessing 35 dollar fee for a 2 dollar charge. They also will also put a check through first and let that clear instead of letting 20 atm charges clear and bouncing the check (that came in later that day) so they can have over 600 dollars of fees assessed to my account instead of 35.

Raeann of Bensalem, PA December 17, 2009

On December 15, 2009 @ midnight TD Bank transfered money from a joint account with my husband into a personal account in my name to cover a negative balance I had incurred due to outrageous fees without any notice to us. When they transfered this money to cover the negative balance in my personal account they left my joint account now in the negative. Transactions that were made on the 14th and 15th of Dec. when I had money in my account didn't post to my account until the 16th and 17th of Dec. after they already left this account in the negative. They view on their computer when the transactions were done but still charged me with over draft fees. Now for every transaction I have been charged a 35.00 fee. Just for today alone I have been hit with 140.00 dollars in fees.

My local brank manager couldn't do anything, recovery dept transferred me to direct banking customer service who was rude and hung up on me. I have outstanding checks written against this account in the amount of 636.00 that were sent out before they transferred my money and left me with a negative balance. Now my balance is continuing to escalate in the negative because of these fees and their transfer. The transfer was approximately 400.00 which made my account negative and now I have approximately 200.00 in fees because of this.

Mary of Stone Harbor, NJ December 9, 2009

These gift bank card have an expiration date but that is NOT the real expiration datw. After a year, the card starts decreasing by 2,50 per month. This is written very tiny on the back of the card. It is only readable with magnifier glasses. Also, there are no directions listed on using the card. You must first pay the difference in the amount spent from the value of the card. So if you buy a 300 item with a 100 gift card, you first have to have the merchant charge you 200 and then run the card through.

So if the card is run through first, the card is denied if the amount is greater than the card value. No where on the information provided or online does it state this. Also, if it is a "Gift" card, how are you suppose to know when the 1 year period of no fees being deducted stops? The card wil start auto matically deducting 2.50 per month when the card is 1 year old. But no where on the card does it state this date. Card is now worth a lot less! Also , ALL the TD Bank customer service people are all rude!

Kenya of Hillburn, NY December 1, 2009

For the last few months, TD Bank has been charging my account 35 overdraft charges for money that my account is telling me was available. This is a debit card if my funds aren't there I can't use it. I can't understand how the money is available then a purchase is made and a few days later I am charged 35 and it's down hill from there. The way I understand it if I have 200 in a account I spend 50 I should have 150 rather it be in pending or whatever.

I spend 150 on bills and then the 50 is taken from my account a week later after I have been charged 35 then the 50 is in question. They fixed it before but now they don't want to and I know that I checked my account online to make sure I had money in the bank before using.

Eva of Bronx, NY November 30, 2009

At home reward had charged my account that I have with T D Bank in the amount of 19.95. The account had 0.00 balance on account of that I was charged an overdraft fee. I contacted T D Bank about the statement that they sent to me in reference to that amount. They gave me a number to contact the company I called and spoke to Lisa . The company refunded me the 19.95 but not the overdraft fee.

T D Bank had billed me again for the overdraft fee. I called the 800 at T D Bank you inform me I had to go to the bank to have them sort out the overdraft. I went to TD Bank on Williamsbridge Road who inform me that I had to go to the TD Bank at Fordham Road and send a copy of the statement to At home Reward I called At home Reward and they asked me to fax a copy of the statement to the compliance Dept., I did and they refused to pay. I called Fordham road branch of TD Bank they told me I have to come and file a complain. When I went to Fordham road they told me that I have to call the collection department they cannot do anything about it because my account is closed and in collection

Debbie of West Berlin, NJ November 20, 2009

I have a checking account at TD Bank. I received 3 consecutive charges for overdrawing my account. When I saw my account, I did not have a negative balance. The customer service agent that I spoke with said that she could not help me because I was not at my regular branch. I called my original branch and they would not put me through to the bank manager. I was diverted to csr and told that because I qualify to use my account into the negative, I have to encur these charges. I said that I was never advised about this policy and they said that did not matter. When I looked at my account, it was not negative. TD Bank did not update my account for a couple of days and then updated it with the charges to go into the negative. I just want the 105.00 because this is my grocery money and I was not informed of this policy. Why would a bank ever allow someone to overdraw their account?

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