Consumer complaint received 2018-10-12
Company: TD BANK US HOLDING COMPANY
State: NY
Product: Checking or savings account
Sub-product: Checking account
Issue: Problem caused by your funds being low
Sub-issue: Non-sufficient funds and associated fees

Complaint:
On XX/XX/2018, one mobile deposit of {$1000.00} ( via personal check ) was made whereby posting on XX/XX/18. The second mobile deposit of {$1000.00} ( via personal check ) was made on XX/XX/2018whereby posting on XX/XX/18. According to my daily limit for mobile deposits, I can submit {$1000.00}. Thus, the reason why I deposited 2 separate checks into my TD checking account.

When I reviewed my checking account on XX/XX/2018, I discovered TD BANK placed a hold on both checks. At approximately XXXX XXXX, I called TD 's Customer Service through the mobile app while logged into my account on my cell phone. Thus, making an inquiry about the holds. In the conversation, I asked why were the holds placed on both checks. I also explained that my daily limit for deposit was {$1000.00} via mobile deposit and was not able to make it to the local branch to deposit those checks in person. As well, I told her the checks are my personal checks from other accounts thus being deposited in order to make a payment for my HOME LINE CREDIT which is due on XX/XX/2018. Finally, I asked her how can this be resolved so that my funds can be used to make the payment with TD.

She reviewed my account and explained that she can not remove the holds. However, I could go to my local branch and have the Branch manager remove the holds. I thanked her and ended the call.

OnXX/XX/XXXX I visited the branch at XXXX XXXX XXXX XXXX  NY XXXX. I spoke to a customer service representative and explained the entire situation again. In turn, she conferred with the Branch manager Hal. He explained that he would contact TD Bank 's regional office and have the holds removed by tomorrow. He understood that I needed to make the payment for my HOME CREDIT LINE which was due on XX/XX/XXXX. In the exchange, I wanted him to verify how would I know if the holds were removed. He stated that all I had to do was check my balance using the mobile app. I agreed and left.

XX/XX/XXXX, XXXX  attempted to call me at XXXX XXXX and left a message on my voice mail to call him back. I returned the call at XXXX XXXX  and was on hold for 25 minutes. Finally, I hung up and called back at XXXX XXXX and XXXX XXXX. I finally was able to reach XXXX directly at XXXX XXXX. In the conversation, XXXX  explained that he could not remove the holds on the checks. As stated by XXXX, he claimed that XXXX  didn't verify the funds from the first deposit to cover the check. Due to that, TD put a hold on both checks. Therefore, he could not remove the holds in place. I reminded him that my payment was due today. And, I asked him who could we contact on the next available business day ( XX/XX/XXXX ). I wanted it noted that my payment would be late due to TD 's fault. The idea that my money was tied up, would result in my credit card payment being late. Not because of me being irresponsible but because TD Bank was unlawfully withholding my funds. As well, I wanted to have any late fees and additional interest credited to me. XXXX   reassured me that I must return to the bank on Tuesday, XX/XX/XXXX to handle the situation. We ended the call.

With the distress of the situation, I reviewed another checking account I have with XXXX. I rushed out of work and made it to the local XXXX  branch before closing. I was able to delay payments made for my property taxes and water bill. With these funds, I withdrew the cash amount of {$1700.00}. Then, I ran to the local TD branch and made the cash payment at the teller in time before closing.

To state : TD Bank has unlawfully withheld my money. I have provided documents to dispute this.

They had no reason to due so. This would have caused unnecessary fees and interest. As well, it would have damaged my credit thus resulting in an increase for the rate at which I currently am paying on the line of credit.

I want TD to provide a full detailed explanation as to why the funds were withheld.

Both XXXX ( first check deposited ) and XXXX ( second check deposited ) cleared the the funds the same day it was presented.

Please assist me with this investigation at your earliest convenience.

Company response to consumer: Closed with explanation