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TD Bank hit with overdraft suit

A Massachusetts resident yesterday filed what she hopes will be a class-action lawsuit against TD Bank over the way it charges overdraft fees.

In her suit, filed in US District Court in Boston, Carly Dwyer alleges that not only did the bank fail to notify customers they could quickly rack up hundreds of dollars of fees in just a few days, but that it calculates those overdrafts in such a way as to maximize its revenue from them. She charged that the bank would order checks based on their amount, rather than the order in which they are received, meaning a customer could get hit for $35 fees for each transaction, even if it were only the last, largest check that pushed the account into negative numbers.

Dwyer said in her case, that meant $210 in fees on Sept. 14, 2009, when her actual account balance was only negative $100.49.

The lawsuit seeks damages of at least $5 million for Dwyer and other, as yet unidentified, TD customers.

Dwyer's complaint.

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Comments

Go Carly Dwyer! Many banks are doing it and they are unapologetic. Their motto seems to be, "Take whatever you can get from whoever you can get it." On the street it's called being mugged, in the bank, wait in line, it's customer service. And our legislators are either whipped or in their pockets.

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How about you people stop spending money that you don't have. Its called being responsible. If you read the information given at the time you sign up for your account you would realize that NOBODY IS GOING TO GIVE YOU FREE MONEY.

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Obviously has not happened to you. I wouldnt have used my debit card on a loaf of bread when i thopught it would cost 105.00. I had the five bucks in my pocket but was able to make the purchase for whatever strange reason. In other words shove your comment where the sun dont shine.

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It's not that simple. If you are gainfully employed and haven't been affected by the U.S. economy, it is simple to have enough to cover transactions. However, if your income has been affected by job loss, divorce, identity theft... that income is NOT there and you may come within dollars of your balance and go under by $1.50. Thereafter transactions of $5.00, $3.00, $10.00 are processed at $37.00 EACH. You'll get a notice about 4 days later.

The bank processes the SMALLEST amounts first. Obviously, to maximize transactions and their fees.

Why does the bank "approve" debit transactions if there are not sufficient funds? A couple years ago, your ATM would say "insufficient funds". Not any more. It will go through, letting you assume your balance is accurate. And every 5 days you'll incur another $35.00 fee for the OTHER fees.

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Obviously you are clueless. The banks now sort debits and checks from largest to smallest no matter what the date of the transaction is. It's criminal really. I will be joining a class action suit against TD Bank.

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The same exact thing has happened to me, only to the tune of $600 in fees and never once did my debit card get declined even though I had requested in writing there be a block on my account so once i got into the negative, the card will be declined, TD bank ignored that request allowing 5 charges a day to go through which ironically is all the fees they are allowed to charge in one day. I am currently fighting to get my money back. They have also done the re-ordering thing with me too to maximize fees. How can they get away with this? Can you tell me how to be a part of this law suit? Thanks so much.

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You're obviously a moron or a bank employee. Otherwise, you would know that the nature of the complaint is the fact that the bank is manipulating transactions so as to cause overdrafts. It's not a simply matter of poor checkbook management!

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Actually It really doesn't matter how responsible you are. When people are criminals, they will try to get you any way they can. Greed and theft shows no mercy.

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How about YOU do some research on TD Banks flagrant violations of the Funds Availability Act before you begin lecturing people on proper banking processes? Mouthing off like a moron, when you probably don't have two dimes to open an account to begin with, really isn't advisable.

For the rest of the people who have had troubles with TD: I had two business accounts with TD, one of which I deposited over 2700.00 in CASH, yet they waited four full business days to post to the account. Yet they allowed every vendor debit to clear, citing the so-called "Overdraft Protection", which I opted out of IN WRITING, months previous. Cash deposit, four days and NO reasonable explanation for why it did not post other than a "computer glitch."

They actually came off to me with a high-handed attitude as if they were doing me a favor in returning the overdraft fees initiated by their "computer glitch."

Needless to say, I no longer bank with them.

FYI - Many people are not aware of this, but each time you are hit with an overdraft, faultless or not, the banking institution immediately reports it to the three credit rating companies. You may want to figure in the implications of that into your civil suit.

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no, actually, they don't report it to the credit companies. Don't scare people.

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Hey genius, why don't you read the allegations before making such a stupid comment. It has nothing to do with free money. Maybe you are too dumb to read but anyway, here it is:

The complaint charges that TD Bank does not record charges and purchases on ATM or debit cards in the order they actually occurred. Instead, TD Bank reorders the charges and purchases so that the largest charge or purchase is the first one paid by the bank. This manipulative practice is intentionally designed, the complaints allege, to maximize overdraft fee revenue.

TD Bank's overdraft fee collection practices have impacted millions of Americans. In many instances, the overdraft fees cost customers hundreds of dollars in a matter of days, or even hours, when they may be overdrawn by only a few dollars. A series of small transactions over a weekend can result in hundreds of dollars in bank charges.

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Moron, these banks mislead you. Nobody is asking for free money. a negative balance must be paid but to asses fees over three times the amount for each day is robbery. They tell you it will be a 35 dollar fee but not how frequent. TD bank gives a money advance. The man misled me on the phone saying it be a 5 dollar fee and 35 for extended overdraw. I ended up with negative 400 dollars for borrowing a hundred. people with small paychecks cant afford that. Thats what they have to live on. I dont know what planet you live on, but in mine thats called INSANITY/DECEPTION/LEGAL THEFT. Dont comment if you really dont know what you are talking about.

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nice. they've gotten me a couple times this year. it's not right. i know people like to victim-blame with the overdraft fees, but it's ridiculously easy to do and it's so crippling when it happens - you're paying hundreds because of the way they order the transactions. plus, td bank used to cancel automatic bill pay if your account dipped too far down - then they changed their rules to allow it. i'm pretty unhappy with TD bank right now and will probably look to switch to a smaller bank closer to me, perhaps danversbank.

every bank does this, but that doesn't make it right. at all. e

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I had the same issue with bank of america. i should have filed a lawsuit. maybe it's not too late.

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I had a good one opened a acount and they overdraft me 150.00 . I called the main office cause i found the mistake .They agreed then sent me an atm for 150.00 back to me . Then they told me they made a mistake again and wanted the 150.00 back If thats not enough they black balled me on the check list so i cant open an account anywhere . Does any one know what i can do .Please help

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I think there is one going on for boa. Hearing is sometime in October.

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They already settled (BofA)

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My husband keeps having random charges to his account and the bank and the hotline for the corporate office haven't been able to help him. They always say they can't say why there is a hold on the account but can say for how much then he waits weeks for them to reverse their mistakes.

On another note I have DCU and they always screw me like TD Bank. Another thing they tend to do is have my direct deposit always go through right after the charges.

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When BayBank pulled something like this with me (then a 20 something college kid) -they cashed checks before crediting a deposit which I had put in over a day before the checks came in. I then moved to the small bank next door, Northern Bank and Trust Co; the one or two times I had insufficient funds to cash a check, they would call me on the phone to see if I wanted them to hold off on cashing a check I wrote until I could get down there to make a deposit. After that two family members moved their personal banking to them and two family businesses too (not on my advice, but because of the good reputation that the little bank built). After moving out of the area, I moved to Wainwright Bank and have had no complaints at all.

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My local branch manager calls me just like you described, early in the morning, whenever there's any problem with the account (which is rare, but they make the extra effort).

Credit Unions used to be universally better as well. But lately the larger ones have gone the way of banks in terms of service--the small ones are usually still good.

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I just had an incident that could have resulted in an overdraft. I deposited a big check, with a subsequent large fund transfer. I thought I had timed it sufficiently, but I was worried when a confirmation email about the transfer indicated that it was processed earlier than I expected.

Sure enough, when I checked my account online, the transfer was logged just before the deposit, with a negative balance showing between transactions. Worried that I'd be charged an overdraft, I went to a branch to inquire. i was told that it was too early to say, as the transactions were not final. I was relieved to see the next day that my deposit had been credited first. I don't know if there was any human interaction involved, or just a better transaction policy, but I appreciated it. Yay for a community bank.

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Good for her! They singed me $30 for a 25 cent overdraft (they reversed it when I complained but I never should have had to).

They also wouldn't put through charges as they arrived and one check that came in on a Monday triggered 3 overcharges for items that had been sitting in the pending folder all weekend.

The best trick? I did a transfer and reversed the accounts, and transferred $1000 from checking to savings when I meant to do the opposite. There was only about $200 in my checking account at the time. Instead of "failing" they happily let me have a -800 account and would have killed me with fees. Bastards.

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Considering td doesn't charge an overdraft fee unless you're negative more than 5 dollars...I call bullshit. Good luck getting any other bank to do that, even the little local bank I work at will charge you 35 for a penny if they can...little just means they need more ways to make money...

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This is why I switched from Citizen's bank years ago and never looked back. I'm with Liberty Bay Credit Union and I have never had a problem with large overdrafts. The structure their policies specifically to avoid having to charge an overdraft fee.

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Citzens bank is a big rip off I was with them for years I had good credit in the 700s I tried to get loans they always denied me I whent to other bank were I had no account they lent me the money so I got rid of Citizens Bank I also found all kids of hidden fees about 100.00 a month they also would hold check to get my account to over draft, plus there on line banking does not show recent activity on your account to make you overdraft. I changed over to bank of America they are ok every debit you make gets shown on your on line account so you know how much you have also they cash checks fast and into your account helps from overdrafting. Also TD BANK IS BAD NEWS they were bay bank fleet also they been ripping people off for years I had a friend got a car loan from them they charge 150 month late fee then add it to the loan charging more intrest he got only 2 months behind because he had a jeep with recall frontend probem could not get to work the bank repoed his jeep I gave my freind a loan to get the jeep back but TD bank would not let him get his jeep back he was only 2 months behind he now has an account at a small credit union at Southbridge bank in Mass and has been very happy, Small Banks better.

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They were Banknorth before TD took them over.

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to me. They seem to have a program that goes back and bounces debit transactions that cleared before the overdraft and then they assessed me over $600.00 in fees! I told them that I would pay the legitimate overdraft and the fee on the one item. They told me no, so I told them to f*ck themselves. I switched to BoA before they could put the word out and I have actually been happy with them. Stay away from Citizens!!

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I've got a Wainwright account for the purposes of depositing physical checks and having a relationship with a brick-and-mortar bank should I ever need such a thing. Wainwright gives you the choice to have no overdraft option, which is what I've chosen. If I swipe my card at CVS or something and don't have the money to cover it, it declines rather than overdrawing my account. This does get annoying when, say, I have $20 in my account, go to buy $10 of gas, but the gas pump insists on authorizing my card for $30 or $40 and won't let me get gas. But otherwise, it's a wonderful setup; I've been recommending Wainwright to people with disabilities who can't balance a checkbook but would rather not be paying fees to cash checks at a check-cashing place. They can take out cash to pay their bills in person or with a post office money order, have an ATM card for convenience, but won't be able to overdraw their account.

I also have a mortgage and an Electric Orange checkless checking account at ING, which is what I use for bill-paying. It allows me to overdraw my account up to $160, then just charges me interest on the overdraft "loan" instead of charging fees. So if I'm overdrawn a hundred bucks for three days, the interest is under a dollar, and the bank has no other fees, so I'm happy to pay this.

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How can I get named in this suit too? I have had a lot of theese overdraft fees as well. I went to the bank and they printed out a statment for me, from October 19th my account went negative exactly 2 times. In that time period I was hit 6 times with overdraft fees all ranging $35 to $175. this is absolutely horrible. I am the head of a single income family of 5 just trying to make ends meet and theese horrible, greedy people just keep pushing me under water. Don't know how much more I can take.

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...and i will do everything i can do tell people about how unbelievably horrible and unconscionable i belive their practices are. this is only the beginning.

they've ruined christmas for my family. one little mistake (based on the order in which they calculate deposits and withdrawls) has snowballed and they've charged me over $1000 in fees in approximately one month.

my girlfriend went to her branch and they refunded half of the fees. other friends have gotten up to $700 back from other branches -- with no bank errors involved whosoever.

I EVEN WENT TO A BRANCH IN-PERSON AND ASKED THEM TO REMOVE THE "FEATURE" THAT CAUSES THESE FEES AND I STILL CONTINUE TO ACCUMULATE THEM THANKS TO THIS "FEATURE".

this is only a tiny piece of the story too.

i visited the branch in warminster PA who called my branch in feasterville pa. the feasterville branch was curt in telling warminster that i had to call the 800 number (who had already sent me to a branch). i went to the feasterville branch and was very nice and spoke with the assistant manager, who spoke with the manager and said they spoke with the regional manager, Greg Ludwig and they would not refund a dime. They referred me to the "Charman's office" which is essentially a black-hole for complaints (the switchboard operator even implied this). After no response from the "Chariman's office", I contacted Greg Ludwig who said that he had heard nothing about my issues from anyone. i am now waiting for him to take it to his manager Kathy Geissel.

in my opinion, TD Bank is run by horrible, heartless, soulless human beings and with any luck and a little justice, the truth will come out and the company will be gone soon for treating people this way.

THANKS FOR RUINING MY HOLIDAYS, TD BANK. PLEASE PROVE ME WRONG. I WILL NOT STOP. THIS IS ONLY THE BEGINNING, I WILL BE EXTREMELY VOCAL IN TELLING EVERYONE I POSSIBLY CAN WHAT A HORRIBLE SOULLESS ORGANIZATION I THINK YOU ARE.

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Tim,

I am with you 100%. I had nothing but praise for Commerce/TD Bank. Until just recently, when I got slammed of a bunch of overdraft charges. When I opened my account with Commerce, I specifically stated that I did not want any overdraft protection. Once TD took over, they say that I should have received a booklet regarding TD Bank. Well, I did. It was 1/2 inch thick. Never did I think that they would just arbitralily put me on overdraft protection, or bank courtesy as they call it. I told them that I did not consider that a courtesty, especically since I had not requested it. $300.00 later, I am writing this.

I am totally fed up with these corps. taking advantage of the people that allow them to live the lives they live, with no consideration for the hardship they place on us, with these outrageous policies.

Thanks for listening.....I am looking into any class action suits.

celeste

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I have to say I hate TD Bank as well!!!!

They have made as much money off of my family as they possible can. We would make purchases such as fast food, food shopping, gas and so on, on a Monday and TD Bank would keep it in pending until Friday with money in the bank to cover and them knowing that we have set up an automatic insurance withdrawl that comes the same time every month as well as my paycheck.

TD Bank turned around and pushed the auto insurance through first knowing that there was all those things in pending sitting for a week, bounced the auto insurance because we were 20 shy, while leaving our paycheck which is automatic deposit from the Thursday night before sit in pending, turned around and bounced all the other checks so they could charge us the $35 NSF for each one and a $35 return fee to then turn around and then deposit the paycheck that has been sitting in pending to hit us with the NSF & Return charges first.

Now I ask you why would you leave all those other purchases in pending for a whole week when the money was in the account to cover (especially fast food, gas and food shopping. I mean I got the items) to turn around and push through a larger withdrawl, then turned around and then deposit a paycheck that was sent in the night before to then turn around and take NSF & Return Fee from me.

They have cost me so much money and trouble because they have done this to me several times (leaving things in pending for a week) and when I call or go to the lobby the staff can not answer me nor refund my money back for their mistakes.

If there is a class action law suit keep me informed because I'm in and have plenty of other evidence against them for this kind of NSF trick there trying to pull. They have done this on several occasions.

Sincerely,
Mother with children

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Each time costs $35 its obvious you are abusing the system and not wanting to take responsibility. How can I feel bad for you when you did this to yourself so many times. You are making a fool of yourself.

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Because we hear this same story over and over: the banks put in deposits after they take out all the withdrawls REGARDLESS of the official post dates, charge fees for each "overdraft" even though they sit on the deposits, and you think this is all made up or just one lamer?

Not!

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Well here i am another td bank customer that has had roughly 2,000 dollars over the last 1.5 years drained from my account. They kept telling me that it was my fault, and i would leave the bank confused, thinking i can do dumb things but i know how much money i have and when it is spent. I had one instance when even the people at the bank said that i was right, but they couldnt give me my 250 dollars back just then, they would have to send in the request to the main office. one month later i got a letter saying that i was denied. Im changing banks this week. td is a bad bad bank.

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I really thought Commerce Bank valued their customers . Td seems not to. I got socked for 100s of dollars in overdraft fees. I tried correcting a situation when a check came in which I had forgoten about. Then I used my ATM card thinking that there was enough money in my account, only to find that I could now take out of my account more money than is in it, resulting in more overdraft fees. Is it any wonder that banks are failing? If you need people to testify in a class action lawsuit I for one would be glad to and I am sure many others. Thank You for what you are doing!

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The banks have every right to charge a fee. You are the only one who has full control of your account. If you run a valid check register and deposit funds before you right out checks, then you would never receive a fee in your life. The bank does make money off of these fees. It is a corporation meant to make profit. They offer a service and in return you receive it for either a small monthly fee or free. When you break the rules of the contract they will charge you. It is just like running a red light or speeding. You pay a fee for breaking the rules.

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Yes, banks are entitled to earning fees for their services, but not blatantly. And you are incorrect in stating you will NEVER incur a fee if you use your register. I always use my register and recently I made a cash deposit into TD Bank. That same afternoon I wrote a check to make a payment on my credit card at my credit union. I also used my TD debit card for gas that evening. The following day I was accessed $70. in fees. Their response was the debit card transaction and check payment went through prior to my deposit since I made the deposit after 6pm. But the other transactions were after 6pm also! Apparently TD Bank processes all debits first, then applies deposits when they do their daily processing at 4-5am. So, if your account becomes ‘overdrawn’ after processing the debits, you will incur a fee. After complaining to the branch manager, they refunded my $70.

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I work for the bank and they hit me with these OD charges. They want us to explain it and justify these fess to customer but how. There is no justification it's just plain and simple theft. We ought to be able to file criminal charges against them. The posting highest charge to lowest is absolutely ridculous. Charges should be posted as they are present. To take out pending charges but then allow the customer to use the funds again for other charges, giving the customer the misconception that they still have funds in their account. Just so that they can charge fees. They allow customers to use their debit cards even when funds are not available but don't tell customers this. So for those of you, like me, who keep track of transactions by looking at the website in the morning are easily screwed. $35.00 a transaction adds up quick. Fees are returned, if you ask, depending on what representative you can talk to. Forget the branches they tell you to call Customer Service. Supposedly they were going to stop the $35.00 charges for debit card transactions, that was supposed to stop in January, but now its pushed off for a "little while" guess they haven't made enough money yet.

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You need to get your head out of where ever u have it.. banks are a coorparation made to serve the people and in return they make their profit. don't tell us to keep a a registry report..done that been there and still something goes wrong. as a police officer please don't compare us to the bank the laws there lack is a rich man no matter what u want to call it. keep ur head in the clouds maybe it does belong there with china

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You need to get your head out of where ever u have it.. banks are a coorparation made to serve the people and in return they make their profit. don't tell us to keep a a registry report..done that been there and still something goes wrong. as a police officer please don't compare us to the bank the laws there lack is a rich man no matter what u want to call it. keep ur head in the clouds maybe it does belong there with china

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Here is my exact experience with TD bank. I deposited cash in my account on Saturday morning. Later that day I went to Target and the grocery store. I went out to dinner with my wife later and bought some bagels the next day. I was hit with 4 overdraft fees for all these transactions! It was explained to me that their system is working on Monday's date on Saturday morning, but these outside systems were showing it as Saturday and Sunday when they toook the money out. Even though the CASH, not a check with a possible hold, was deposited hours before, they won't honor any of this. I originally opted for no overdrafts with Commerce, but TD changed this policy. What a bunch of crap!

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I read through several comments, and all I can say is:

1. Balance balance balance!!! Use a registry or excel or whatever is easy for you. Say you have a balance of $250 and you write out a check for $100. You should immediately be rebalancing your account to reflect a new balance of $150. You no longer have $250 when you send that check out. Same goes for debit transactions. Either keep a registry with your when you go to the stores and then deduct the purchases right there on the spot OR keep the receipts and then sit down immediately after getting home and rebalance your registry. If you have automatic transactions going out every month, do yourself a favor and reflect these transctions two weeks early in the registry.

2. Always read the fine print, including new papers that come in the mail periodically for new changes. Really, whether the larger and smaller transactions are reordered should NOT matter if you have been keeping an accurate registry that reflects current and incoming transactions

3. Don't rely on deposits to be available immediately. If a deposit takes three days, that's how long you don't have extra money in your account. Therefore, do yourself a favor and don't spend any of that extra money until it is posted. If you still have that $150 (remember, the $100 check doesn't count anymore even if it hasn't been cashed yet) and you have a deposit of $400, you still have $150 for a few more days before the $400 gets posted.

4. ATM fees are typically posted at the end of the month. So, remember to include these immediately in your registry instead of being *shock* suprised (not really) at the end of the month.

5. As for the other fees, like the minimum balance fees, you have a choice to keep or close the account for a new one elsewhere. If you keep the account, just watch your transactions and registry like a hawk. Don't rely on the ATM balance or online balance to look into the future to see how much you realistically have.

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.....or, give their business to a different bank that doesn't make it a matter of policy to screw their accountholders at every possible opportunity.

I choose the latter.

I do my banking with a smaller community-oriented bank that only has a few branches and has good policies about check holds and fees. To each their own.

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ya if you have to do all that its time to get an honest bank, time is money

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I kinda hafta second this because I've been a proponent of balancing your check book.

If you read most Bank's User Polices, you will see you are REQUIRED to balance a checkbook (trust me its in there) for your account. Most banks will ask you if you overdraft heavily.. "Do you keep a check register".

Most folks say no, because "they can't be bothered" or "Its too time consuming" or "I keep enough money in there at all times I don't need to worry about bouncing a check" OR the biggest mistake of all "I rely on Online Banking or my ATM slips for my balance".

Haven't ya all figured out that these numbers are SKEWED in favor of the bank?!? It is in your best interest to keep one. That's your ammo against your bank. But if you don't keep one, it becomes the banks word against yours.

I learned this lesson all to well with Citizens Bank many years ago. I was the overdraft king. I'd watch hundreds of dollars get sucked out of my account each month due to overdraft fees. So I started keeping a check register to help me keep track of charges.

First off, something amazing happened. about 95% of the overdraft fees went away. The other 5% didn't.. here's why.

At the Time (~2002) Citizens Bank charged an "maintenance fee" for the account of 17.50. Which I was fine with this at the time, however I noticed that it NEVER seemed to go thru on or the same day each month. Its not even a 30-day window or anything. After digging thru 2 years of bank statements (from when US Trust became Shitizens) I found that I was charged that fee when my account was at its lowest point of the month. It appeared that anytime my account was under 17.50 I would be charged that fee, so they could charge me a 35 dollar fee.. FOR THEIR ACCOUNT MAINTENANCE FEE. Then of course I was ding'd again for any other charges that came after. And again, it just seemed like they sent thru other charges AFTER I was already in the red.

And folks I kept a check register, so I know if I had 20 dollars in there and I spent 20 dollars. I'd have 20 dollars to spend, but because that fee never went thru on or near the same date I'd get dinged. So I got smarter than the Bank and just added 17.50 to the top of my check register for each month.

Well Citizens Bank caught onto that too. Then they started holding my payroll deposits till AFTER debits went thru. So they could charge me more fees.

After this I went into Citizens Bank @ Lechmere and complained. The branch manager swore up and down they did not do this, but by 2004 I had FOUR YEARS of documented proof they did this. She basically told me to go screw.

And I told them to go screw. And went to a TINY 3 branch bank. Wow what a difference. They dont fee you for being under 5 dollars. There's NO fee to have an account, and they actually pay ME to keep my money there (its interest checking). I get up to 20 dollars back each month in foreign ATM fees. Great online banking. And awesome personalized service.

The bank manager calls me if there's a problem or I am about to overdrawl. They call about fraud when its necessary. (Citizens did nothing about my debit card # being stolen except do the absolute state minimum). Sometimes he just calls to chat and see how I am doing. Trust me its a nice feeling to have a name and a face, not just Customer Account 011245678.

Whats funny is I go into that Citizens to cash my paycheck, which is a business check drawn off of Citizens bank.. and they charge me 7 dollars since I am not a Citizens customer (anymore). Oh I just find this mind bending WHY they charge you a FEE to cash THEIR OWN CHECK. Personal Checks fine, lots of liability there. But business checks, really? you are just flipping the finger at your business customers.

What is also is they *always* try to up sell me an account, and I say "No thanks, former Citizens Customer. You guys are the fee bank". Then I usually go into how great my new bank is and what services they offer that Citizens doesnt. Then They usually ask "which bank" LOLOL. The tellers know they are ripping people off.

Big banks will just eat themselves if they keep it up. It costs too much to keep all those branches open with customers leaving in droves.

Anyone remember what it was like to make a long distance call from Boston to San Francisco in 1980? Ok. Its going to cost you .25/min and 5 cent fee to connect. And then there's a carrier charge. Oh yeah dont forget the phone rental, and your other charges that Ma Bell might charge you for.

Now look at that same call today. One price. No Fees. No nothing. Seee the coloration? Banks are becoming MaBell.

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I've had the same problem with TD bank! I was charged over $1,600 of Overdraft PD Fees in the course of less than one year and they admitted to the problem, but can only offer partial funds. A class action suit sounds like the right course of action.

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There’s no sense making arguments with this kind of economy. Whatever it may be, as long as it will benefit our fellowmen, then go. It doesn’t matter if it is bipartisan or what. Recession hits hard and it will not only cost you money but it will also be a hassle. Anyone who has debit card knows it. The bank overdrafts can’t do anything about the economy and the people. It is not that good. The banks in the face of new regulations are going to be offering direct deposit advance products to head off overdrafts, called a checking advance. They'll put in enough money to cover the overdraft, and you'll pay that back plus a fee. What goes largely unreported is that banks derive over 50% of their income from overdraft products and fees.

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I had open a momey market account with TD bank. the next thing i knew i was minus $100 dollars. i was stunt because the money that was there was a lot. to this day i have no idea where my money went. Last time I looked at that account I had over 7,000 dollars, I don't know but these banks are scarring the heck out of me. In anothe incedent I used my debit card with no problem in various different places, Only to find out later that my account was overdrawn and the hit me with a 400 dollar bank fee. What is going on with our banks.. I know everyonbe is trying to make a buck these days.. But enough is enough.I also went to deposit a check that belongs to my partner. and they refuse me. I was told i couldn't deposit the check into my account because hes name was not in the account.. WHAT?..I couldn't believe what i was hearing.then i was humiliated by the bank manager when i aske her to close my account she said is sunday we don't do closing of account on sundays.I coul;d understand about the check if i wanted to cash his check.. But he signed it I signed it put my account number and my drivers license numbers.. and they know me at this bank. Is the branch in Brigantine where i opened my MM account with 91,000 dollars. can someone help me in understanding why someone can't deposit a check into their account with prove of identity and enough to cover any problems. i tell you all these un necessary bull is the reason why i know so many people that will not deposit any more in banks.. thats a shame..
Sincerly.. Mr Reinaldo Carmona
Brigantine Branch in south Jersey..08203

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Make sure you print out your statements on a daily bases. TDbank changes them. Today i was charge $175 in overdraft fees showing on my statement as DEBIT CARD AUTHORIZATION..

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Can I get in on this lawsuit. I have been slowly, discreetly getting screwed by this Bank and I am tired of it.

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My boyfriend and I have had accounts with TD Bank for about 2 1/2 years...in which we have direct deposits going through every week. We never had a problem with them until they merged together. Before we knew it, we were being hit with fees for things I didn't even think we were ever getting charged for. About a half a year ago, I had about $700 worth of fees posted to my account. I searched the account over and over looking for any mistakes on my behalf and couldn't find any so I immediately called and they gave me a run around, eventually giving me everything back. Three months later, we have the same problem with about $500 worth of fees. I am constantly checking my online checking and keep my own personal log of my purchases using my debit card. I called yet again arguing that this was out of control and there's definitely a gray area. She told me she "opted" me out which would save me from future problems in case I "happen" to go under again. Just yesterday, I look on my account which showed that we're negative almost $300. This seems like a pattern to me now. I called the online number which told me they can't give me back my money and that I need to learn how to manage my money better. I told her I had opted out and she told me there was nothing about that in my records and told me to go to my own branch. I went today and the associate herself took about 20 minutes looking over my account searching for something that said our account went under. There were a few purchases made under $10 that went through AFTER a gas charge came out dating from days earlier. If it had been the other way around, if the little fees were payed off, such as on there date posted, and the gas came out after, we would only have had ONE $35 fee charge for the gas. This is how they are cheating their customers out of money. We are fed up with this bank and I have already withdrawn my direct deposit and am closing this account. I would like to be apart of this. It's an absolute disgrace. We are in a recession because of banks, and I guess now there finding other wrong ways to get there money back.

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TD Bank through misinformation and negligence charged me over $2000 in overdraft fees in the corse of sixty days. I made many complaints and tried to get answers. Finally a branch manager took a closer look at my problem, realized I was being wrongly charged. The bank refunded me over $2000 and wrote a couple of letters to my vendors, too late. My business, which I put alot of blood sweat and tears into building could not weather 62 wrongley charged overdrafts and returned checks. I need to either individually find some way to sue or join a class action suit. Any advice anyone?

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How do you join in this class action suit, it's LONG overdue!

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This happened to me and my husband multiple times and I went into the bank every time so angry! One example: I used my card to purchase a few things over the weekend like lunch, gas, groceries, movies and all the charges were on Friday night and Saturday afternoon. Monday my mortgage check cleared and as I completely accept it is my fault I miscalculated and was slightly short on my mortgage check, they cleared the mortgage check and then posted all the other charges so I was charged $35 EACH for all the small transactions over the weekend which came to a total of 7 $35 charges! When I called TD Bank, their response was that they did it as a courtesy (favor) to me so I wouldn't bounce my mortgage check. They said they always clear the largest transactions first which is so unacceptable. Also, I found out, you are only allowed ONE $35 credit in a specific period of time (I apologize I do not remember the exact amount of months) and they will not grant you another even if it was THEIR fault!

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This nightmare is happening to me-I had money in a savings account that I transfered over-$850.00-and the bank has charged me $500.00 in fees, so I am in the negative -$300. TD Bank refuses to close my account and will continue to charge daily fees-$35 until it goes to collection 6 months from now. I don't know what legal help I can get to stop this unethical cycle Help

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I am also interested in finding out how to join in this class action suit or begin one. I've had very similar problems in the past 2 weeks with TD, they did acknowledge bank error (only after finally speaking with a different manager) and are refunding the fees, but until it goes through will continue to charge me an overdrawn account fee, as well as what they have put me through. I was never supposed to be enrolled in this new visa/debit card program, I expressed that on the phone when I was told I "had to activate" the new card because they closed my original card (with no notice, then told me the transactions must have been declined because I probably had no money!! I had over $700), yet they enrolled me anyway, so numerous charges should never have even gone through. The representative physically showed me him giving the commands within the TD system Wednesday, on his computer, and showed me when they approved the command to have me opted out. Yet when I checked my account online this morning, I was enrolled AGAIN! I have again fixed it, and the local manager was forced to refund me the fees, however I am furious. Last spring, they allowed a forged check to be cashed by my exhusband--they actually forced the lmoney available, it shows on the statement, I proved it was forged, yet they claim no fault because it was still a joint account. I complained to the Federal Banking Reserve, and because TD maintained it was not their fault, nothing happened.

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The real problem is people aren't responsible enough to keep track of their accounts. Don't spend money you don't have. Keep track of your balance. I don't have much money in my accounts and I have gotten one single fee from TD Bank because I know how to manage my bank account. Pay attention to your account and their policy and you won't have any problems. It really isn't that hard. People love to just make excuses because it is so easy to blame the bank for their irresponsbile actions. Grow up and take responsible for your actions all you complainers.

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Granted, you should be responsible in keeping track of your transactions. Mistakes, however are made. So if you, by mistake forgot to lock your front door, it is ok to come in and clean your house???

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Apples and oranges. One thing people seem to forget is that they are spending money they don't really have that the bank is furnishing them. I've worked at a bank before and wow, some people get REALLY mad when they can't overdraft their account (and yes, some of those people were the same ones complaining about overdraft fees too). The best course of action for all banks to eliminate the ability to overdraft an account. Of course, if the economy is bad and you have to go into the negative by $100, you're screwed, but it's the best way to protect themselves and prevent whining.

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What arrogance and insensitivity. How dare you defend TD bank going into people's accounts and changing them, overwriting the decisions the customers made, that they found to be prudent then attempting to hold them in a new type of financial bind after their credit card and "sub-prime" mortgage scams failed.

It is because the banking industry is filled with soulless, selfish, sociopathic scum like you that is the reason we narrowly escaped a another great depression.

You want to talk irresponsible with money?! What about the billions of tax dollars that went into keeping those white collared crooks self-sabotaged businesses afloat!

Just slither back under the rock you came from and leave us decent, upstanding citizens be, you devil's advocate.

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That wasn't aimed only at that anon, that also goes out to anyone else making assumptions about peoples' situations, like the "How about you people..." one at the top of the page as well.

We shouldn't have to check in with the bank everyday to see what they've done to our policies, ever hear of something called a "breach of contract suit"?

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How can I get in on this? TD just recently did this to me, and I've seen plenty of other complaints against TD. In my case after 2 years of service and the same plan they changed my policy without my consent. I had it set originally so my debit card would bounce if I almost overdrew so I wouldn't owe them any ridiculous charges.

This goes out to any and all anonymous jerks who'd assume we end up in these situations from "just spending money we don't have:" Not only did they change my account without authorization, but it turned out to be their service fees that put me in the red to begin with. It amounted to over $700 in fees, I was never informed of being overdrawn or their $35 fee for each use of my card and wasn't going to be.

Don't make excuses for TD or any other white-collar crook, they prey on people and all play the same games for their own greedy reasons. We all need more money, no one's allowed to steal or put people into debt enslavement. It seems they'll look for any method to con people out of their money - credit cards, "sub-prime" (translation: junk) mortgages, I guess the lesson is: Never trust a bank.

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I tried to make a charge on my TD Bank visa debit card and it was declined because I was out of state. The agent from TD when I called insisted that I use the pine she took it upon herself to raise my pin limit from $1000 to 3000 I tried it over and over and over aain while in line which i told the TD agent and it never went through. I then went to put the charge on my citibankcard in the mean time someone picked up my debit card and made ove $3,000 in purchases which the bank refuses to give back. They did NOTHING to investigate. Orignally they said that I do noyt nned a police report that these were pending transactions that I nneded to wait for them to post. I get home from vacation back to New Jersey and get a call from the bank now telling me that I have to wait 17 days for the investigation to be over and that I need a police report they are so sorry that I was misinformed. For 17 days I called the bank not one return call, i called the police they could not take a out of state report called the local police it was out of there jurisdiction now TD bank refused to give me back my money and even has the balls to charge me $250 in overdraft fees??? I called the places where the card was used myself they NEVER got any phone calls from TD bank???? If there is anybody out there that can assist me I would be forever greatful. I can be reached at 201.884.7086 or [email protected]

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I'd love to join this class action suit, if possible! TD Bank has charged me over $700 in fees in the past year and when I called them, they asked me if I knew how to keep a check book. I'm a young adult right out of college and that $700 could have gone towards student loan payments.

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It's about these things:

1) Customer service - they OFFER an overdraft service as a safety net. The few times in a person's life they ever have to use it (when they are at their most vulnerable financial point), why in the hell would the bank think it's good customer relations to fleece their own customers?

2) Fleecing - just because it isn't illegal (yet), doesn't mean it's good either. I recently suffered $170 in overdraft fees for ONE overdraft ($93). They went back and changed the transaction dates and reapplied 4 smaller transactions that were done between 5-10 days earlier, then charged an overdraft fee for each and every one of them, of course, applying the 5th (largest, and only current) charge first, ensuring that they could maximize fees. I had deposited a check ($250) the very next day to cover to overdraft+fee and then even have PLENTY left in the account for wiggle room. Instead I ended up -$24. How the hell is that MY fault?

I turned off the overdraft. I wanted a safety net and when I used it, I was virtually kicked when down.

I told them to refund the money or I will be picketing in front of their branch. I even offered to settle for half. They refused.

So this saturday (10.23.2010) , if you want to JOIN me and STAND UP FOR YOURSELVES, I will be at the corner with pickets at their branch in ROYERSFORD PA 19468.

They done pissed me off now.

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I see no one wants to blame themselves about going in to the negative. If you keep a proper check register and deduct not only your checks but all of your purchases from your debit card. When a proper check register is maintained there would be no need for fees

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For those of you inquiring about a lawsuit and are interested in becoming a class member, there is a lawfirm working on putting a class action lawsuit together. The more complaints and proof the attorneys have, the better the chances are at winning a substantial amount. Substantial enough for TD Bank to improve their business practices.

I just finished sending in my information to the Trief & Olk Law Firm.
There is also a website where the firm is retrieving complaints from Go to http://www.bank-overdraft.com/cases/td.htm

Here is what you should do to help the lawsuit:
1. Keep all receipts for your debit card transactions to support your actual date and time of transaction.

2. Print the daily transactions reports off of the website DAILY, EVERY SINGLE DAY (This REALLY shows how they are re-ordering transactions, if you could see mine you would shake your head!!! BIG TIME... I got these thieves GOOD).

3. Print the pending transactions as well.

4. When complaining to TD Bank, rather than calling them - email them through the website for documentation and proof.
Hope this helps.

ANGRY CUSTOMER!

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The goverment is not doing anything about this situation and the bankers are the real criminial. I cant go to sleep right because I dont know how my account will look like next day........this is a real issue.

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My husband and I have been victimized by TD Bank in exactly this way many times, sometimes for several hundred dollars for over-drafting the account for less than $5. Several times, they have also used another, even more egregious accounting trick in order to charge us unfair over-draft fees in addition to the re-ordering the debits from largest to smallest. What they've done, is they've charged me over-draft fees for small debits that were made several days before the account was overdrawn, even though those debits did not overdraw the account at all. They say that the reason that I was charged was because those debits posted to the account during the time that the account was overdrawn. The money had been taken out of the account when the debits had been made of course, so the debits "posting to the account" did not cause a change in the balance or increase the amount of the over-draft or anything, it just moved from "pending transaction" to the regular transaction history. When I pointed out that they were charging an over-draft fee for a transaction that never over-drafted the account, they said that a fee is charged when ANY activity on your account after it's been over-drawn, even if that activity is just a matter of them doing the paperwork for debits that had been made a week prior to the over-draft when I had $1500 in the account! What's even worse though, is they were obviously pushing all of the "pending transactions" through as soon as the over-draft occurrd. One time, my account was only over-drawn for an hour and a half, because I realised my mistake and deposited money right away. Somehow, TD Bank managed to "process" ALL of my transactions for 6 days in that hour and a half. They charged me $450, and expected me to believe that it was all a coincidence. I made ONE debit that entire day, and it over-drafted my account by $4.82. That was my mistake, yes, but I realised it and corrected it that same day. Still, they took $450. Oh, and they waited until AFTER my paycheck was deposited 3 days later to charge it. Anybody who thinks that's reasonable or acceptable clearly has a hidden agenda. I should probably get in on this law suit.

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I want in. I actually got hot for $700 in a week. $140.00 was a computer error that made it even worse. I showed them the math That without the mistake and if the checks when they came in were processed, I never would have gone negative. It just happened again, and again it was $140.00. This is the second time, and I found on the web TD bank has admitted they had $140.00 deducted from peoples account by accident. This number is popping up all over the web. This doesn't seem to be a random mistake since it is always $140.00. I think somoene at TD Bank is skimming and TDBank has no idea.

Thanks,
Joseph Raab

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td bank dont care about anything but taking your money !!!! they will cash the biggest check first so they can get more NSF fee,s they hold checks in the pending account till they can make more money.

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Hey mr.pissed off...if you had the money in the first place you would not be bouncing checks. Balance your check book!

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How could I get involved in this law suit? This has happened to me more than once and with similar stories. I deposited CASH which should have been available immediately, then proceeded to spend my money. However they "held" my cash deposit until the end of the day and processed all of my debits from largest to smallest and charged me a 35 OD fee for each transaction. The crazy thing is - I looked online and checked out the transaction times and it all looked great. everything showed up in the right order - deposit first, then all the transactions. Their explanation was, you shouldn't go by the online banking transaction register. That they sort by all debits first, then credits at the end of the day. This is so confusing - but definitely feeling it's illegal! AT no time should a cash deposit be held? It's CASH! I was told they do this, so they can collect interest on it for one day before they release it to the rightful owner of the money.

Not only that, but I just had a crazy crazy situation happen. A customer wrote me out a check for 6k. I deposited it into my account (so I thought) when I found out that they put those funds on hold, then they debited my account for that amount and did not notify me. When I went to access my money it was gone - not only gone, but after they put it on hold, they then accidentally held it again the next day making my account being 12k unavailable. Seriously... I called as soon as I noticed - two days later. they did not appologize for the mistake at all. they told me the customer bounced the check so I called upset with my customer to later find out it didn't bounce at all. But the teller handled the check incorrectly, when the check didn't scan properly, instead of entering it manually she just marked the check as insufficient. How does a 6K check that was 100% valid not be deposited into my account, not notify me and then whats even worse, they snail mailed it back to me instead of trying to deposit it. 9 days have gone by and i still dont have my customers check back to redeposit. I've been out the 6k for 9 days because of TD bank and this is 100% unacceptable!!! I have no words for the anger I feel. I have not been able to pay my mortgage, because they messed up my account so badly.

I am going to switch banks this week, but realized i was not alone in my frustration.

So how do I get involved in this lawsuit???????

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I am glad to see people that want to stand up and take action.

I have been with TD Bank from June of 2008 in NJ and it was Commerce Bank when I started. THAT WAS A GREAT BANK!!!! But with my personal account and business accounts they have done the same things with us. They have also placed holds on checks for 7 days that are even on other TD Bank accounts and the still hold they money and never tell you. Our business is 95% checks so this hurts our cash flow. Everyone on this blog has lost a lot of money and I feel sorry for everyone. This month alone they have charged our business account over 1,400.00 + in fee's and they have holds on over $30,000 and the bank DON'T CARE. In 2009 our branch lost the Branch Manager and they have never been able to replace one, they have tried to have other managers cover this location and they keep changing, so you can never deal with one person. I can't tell you how many employees have left this bank and have said over and over that TD Bank does not care about the customer and only cares about charging fee's. TD Bank looks at everyone as a number or how much money you have in the bank and how much money can they make off you in fee's.

If anyone wants to start a class action law suit or knows of one that is started please contact me. I am going to contact the firm that did this case and see what happened and if they would be interested is starting another one.

TD BANK NEEDS TO PAY FOR THIS and stop hurting people that are already having a hard time.

Vernon Hill, former owner of Commerce Bank would be disgusted to know this is what happened to his bank. I still don't know why Regis Philbin would want to be affiliated with this company, I am sure they pay him well and this is why.

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