Taking TD Bank to Court for Stealing Money

Ive had it with TD Bank!
Starting Nov 1st they are charging 6% to use the coin machine if your not a member.
I once once a member of Commerce bank, they switched to TD
I left over $80 in my checking when I joined the Navy
When they switched they started charging fees for having less than what I had
Upon my return I was negative and they closed my account!
But this is not my beef
My problem is that TD is stealing all foriegn change thats put in the coin machines!
There is a hidden magnet that attracts and steals most foriegn change
when I try to check the magnet for my foriegn change that may have been submitted,
they tell me I cant do that!
Theres not 1 sign about foriegn change, nor theyre magnets
I asked many branch managers what is done with all the change...is it perhaps donated to charity? No, the money is put in large bags (ive seen these large bags)
and it is sent to the Fed, where they count it and cut TD a nice check!
TD is robbing the people folks, and Im not letting them get away with it any longer!

 

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1) They have all the right to charge a 6% on the usage of non bank members.
2) Sue people like yourself should probably find something better to do.
3) Do you have anything to back up your statement about them receiving a cut?

 

If your balance was higher than the required minimum balance you should not have been charged the fees.

 

Go get em!

 

I've never had a problem with TD Bank... I receive interest on my free checking account, the "penny arcade" (their name for the coin counter) is free to all, the tellers are friendly and always put aside halves and dollar coins for me. I think your acting like your namesake, Howard. Your gripes and complaints are totally unwarranted.

 

I opened an account at TD Bank a few months ago and they treat me well and pay better interest than Chase Manhattan.

They also give you a free safe deposit box for a year with Senior Checking.

I'm happy.

 

having money and picking out a bank is a entirely different story and choice then picking out a bank when you're broke.

My current bank upped their fees yet again this year ... 65 cents to do a darn debit (that's 65 cents every time I do a paypal transaction or buy a stick of gum.) I only use my credit card now , way cheaper if you pay the balance on time every month.

 

Meh...it's not about how much money you have..it's about shopping around for banks like you would anything else.

Largely, I find local banks more beneficial to deal with than large chains, for many reasons. The trick seems to be dealing with actual people and not carbon based policy-readers. You can haggle or negotiate a bank account just like you can anything else, gang...especially in this economy. All it takes is the CHANCE to do so...in other worse, real people.

I've got an account at one bank I use for roll searching. The balance never approaches $5000 (frequently being below $1000). The account is free, it pulls down better interest than most 401k's right now, and they order boxes of BWR coins for me on request. All it took was ASKING.

My wife and I maintain a separate account for bill paying. It drains to nearly $0 every pay period, being refilled only for paying monthly bills. Its cost? $0 a month, $0 per transaction, free online bill pay. The branch managers of 2 of the 3 local branches will call me any time CWR of halves come in.

Of course, it's not ALL local. You too can laugh at people who deal with the credit card devils for the fantastic cash back! Can't do THAT with a debit card they claim! Wanna bet? Go hit up Perkstreet Financial I've even heard rumors that yet another of my local banks will be offering this same feature...better believe I'm keeping my eyes and ears open for that.

You know what, guys? You're RIGHT...banks (especially the larger, impersonal "chains") ABSOLUTELY make money charging ridiculous fees for mundane "services" and taking money out of your pocket simply because they CAN.

So...hit them in the only place you possibly can that hurts them....withdraw your custom.

Yes...it takes a little time and effort to search for a quality financial institution. And sometimes, god forbid, you actually have to get out of the house and go TRANSACT BUSINESS with them. *gasp*

You'll get over it.

Or, optionally, you'll keep paying ridiculous fees for "service" you don't use or need, and you'll whine about on some internet forum.

 

Commerce bank started in the Philly area, and they were freakin' awesome... then TD came in... when they transferred over the account system and direct deposits, a ton of people got ****ed over and they lost a lot of business because of it... It's just been downhill from there.

I would guess Commerce had about a 60-65% market share in the southern Philly suburbs. TD probably has around 30-35%, and they're still bleeding out customers... People just flat-out don't like TD Bank...

TD Bank isn't even the worst of them. I have a Bank of America account, and don't ask me how that place stays in business...

 

Easy.

They stay in business the same reason cash advance places stay in business.

Americans will pay through the nose to avoid work, effort, and the negative consequences of their own actions.

 

Thing is, BAC is more work, effort and negative consequences than any other bank I've been to.

 

One might wonder why you're still with them then.

The point, however, was really meant to be more "generic" if you will.

Why do banks charge overdraft fees? Because they can. Given the ABILITY to do so, people will quite HAPPILY pay an outrageous fee LATER in order to write that check TODAY. never mind the fact that they don't actually have the money.

Why charge for Debit/ATM card use? Because they can. People will quite happily pay 2-4% or more to get to their OWN MONEY because they can't be bothered to go to a local branch, or plan in advance to have cash on hand, or do without until tomorrow.

Why charge for a checking account? Because they can. People can't be bothered to shop around, and find out that bank of MyTown offers the same account for free, but not quite as many ATMs. (See above)

In general, Americans will pay through the nose for "convenience" and will frequently go into debt to do it.

BoA and the like survive on this principle.

 

I'm still with them just so they give me change. I'll probably close my account next week.

 

I would read all the notices posted on the machine before going off on a wild rampage. If there is no mention of ' Foreign" coinage and how that is handled, I would say you have a legitimate argument. But it's probably there in the fine print. It is true that the foreign coinage collected is bagged and sent to the fed and the bank does in fact get a percentage of the current market rates for that day. That machine IMHO should have a mechanism to return those foreign coins to the customer. This will be interesting to see how this plays out. I think once you submit the coins into the machine, they than become the possession of the Bank . I'll agree, that stinks, and I would not bank with them any further, personally. I bank with the Pentagon Federal Credit Union, and with the DAV federal credit union, locally. I don't think you stand a chance in getting that money credited to your account.

 

There are no notices posted on the Penny Arcade machines. The instructions are basically, dump your coins into tray, search and remove valuables, then push into slot to be counted.

I'm sure there's some terms of use or something, but I never saw any notice of 'em, nor had to agree to them.

 

Penny Arcade , is that what TD bank calls their coin exchanger ?

 

Yep... it's kid friendly. It has a big touch screen with cartoon characters dancing across saying "let's go... just dump your coins into the bin and press 'sort'"; so easy even a caveman could do it.

 

[video=youtube;qSHxHlRwmcI]http://www.youtube.com/watch?v=qSHxHlRwmcI[/video]

 

LOL isn't it nice that TD customers pay for that " Kiddie " looking banking machine.

 

I'll just stick with my credit union.

Minimum balance for savings account $5
Minimum balance for Checking account $0
Monthly fee for Savings account $0
Monthly fee for Checking account $0
Fee per transaction or per check $0
I have overdraft protection on the checking account. If I accidentally overdraw they simply transfer funds from Savings to checking to cover it. No overdraft fees unless I overdraw both accounts. Monthly fee for this service $0. Fee per occurrence $0.
I do have to buy my own checks but I can get them from anyone I want. I don't have to go through them. 150 checks cost $14.
I have on-line banking. I can pay bills, transfer funds and other features from the comfort of my computer. Fund transfers are done in real time, I don't have to wait for the next business day. Cost $0
The only time I have to go there is to do a withdraw to have cash on hand.
Checks deposited are also available immediately, no waiting til the next day if it is after 2 PM.
And there are two branches close by with staggered hours so they are open 8Am to 8 PM Mon - Fri and 8 - 4 PM on Saturday.

Who needs a bank.