TD Bank
Posting practices

TD Bank's check posting policies are paramount to fraud.

I check my account online regularly, and when I don't check it online, I call the banking line to check my account balance. I had paper checks outstanding I knew were going to post to my account. On 5/5 the check still hadn't posted, so I went out and picked up a couple of things, knowing there'd be more money in my account on 5/6. At 12:01AM 5/6 the check outstanding still hadn't posted to my account. On 5/6 when I got up in the morning, the check posted to my account, but my bank statement claims it posted on 5/5, even though it wasn't there the previous night and even after midnight this next morning. So TD Bank not only posts the check to my account, and they paid it, but they charged me overdraft fees, not for the check, but for the two transactions I made the previous day that did not bounce the account, because those transactions were still pending, but when I made those transactions, I had plenty of money in the bank.

Now, another issue I have with them is this. I make purchases for oil, and it shows up on pending transactions. We use oil heat, and it's expensive. So I have $400 pending when I buy the oil. The next day, the pending transaction is gone, it hasn't posted to my account, it's just gone, and the money is back in the account like it never happened. 3-5 days later, the account actually goes through. That issue has never actually bounced my account, but what's the excuse for disappearing pending transactions?

I hope that sometime in the near future the banking regulations change specifically with this bank in mind.in the meantime, I will have to choose between Wachovia, Bank of America, Lakeland Bank, or Chase.

Company: TD Bank
Country: USA
State: New York

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