Consumer complaint received 2020-10-13
Company: TD BANK US HOLDING COMPANY
State: PA
Product: Checking or savings account
Sub-product: Checking account
Issue: Opening an account
Sub-issue: Didn't receive terms that were advertised

Complaint:
I recently filed a complaint with TD Bank XXXX. TD representative, Ms. XXXX, responded onXX/XX/XXXX and stated that my {$150.00} cash bonus was denied because : " The primary owner of the new personal checking account is a new personal checking customer to TD Bank who must not have any existing or prior relationship with TD Bank. One checking bonus per Customer and can not be combined with any other offer. '' ___________________ I am reopening a new complaint because the information they provided in the response letter left out very important information regarding the offer which shows that they are misrepresenting the information While I previously had an account with TD Bank in XXXX, and did receive a bonus, that account was closed shortly thereafter. Therefore, I was not a TD checking account customer. 

More importantly, the offer, on TD Bank website, clearly states that " Offer is available to new personal checking Customers who do not have an existing or prior personal checking account at TD Bank within the preceding 12 months, open their account online via this web page and complete the required qualifying criteria. '' The key verbiage used here is " not having an existing or prior checking account within the preceding 12 months. '' Per your terms, I am considered a new checking account customer because I have not had a checking account within the last 12 months.

The response letter they wrote and cc 'd you on excluded this information and it is clearly listed on their site.

Additionally, I spoke to 3-4 different representatives, ( 2 ) of them stated that I was going to receive the bonus so there is clearly a disconnect somewhere. 


The federal XXXX XXXX allows civil lawsuits for false advertising that misrepresents the nature, characteristics, qualities, or geographic origin of goods or services. 15 U.S.C. 1125 ( a ). 

XXXX Remaining part of offer ... 

and link : https : //www.td.com/us/en/personal-banking/checking-aff-incentive-55/? convenience? src=src : aff : cchq : aff01a & ranMID=40283 & ranEAID=OAeF4LPMj4E & ranSiteID=OAeF4LPMj4E-XRVi8ecjbzO6PyatYBvHow & siteID=OAeF4LPMj4E-XRVi8ecjbzO6PyatYBvHow {$300.00} bonus offer available to eligible new personal checking Customers when opening a TD Beyond Checking account with cumulative direct deposit funds of {$2500.00} or more into the new account within 60 days of account opening. {$150.00} bonus available to eligible new personal checking Customers when opening a TD Convenience CheckingSM account with cumulative direct deposit funds of {$500.00} or more into the new account within 60 days of account opening. Qualifying direct deposits are recurring electronic deposits of your paycheck, pension or government benefits ( such as Social Security ) from your Employer or the Government. Person-to-Person and bank transfers between your TD Bank accounts or accounts you have at other financial institutions or brokerages do not qualify. Once the offer criteria is met, the bonus will be credited into the new personal checking account no later than 140 days from account opening. Account must remain open, active, in good standing and in the same product type through the qualifying period to receive the bonus. If the checking account is closed by the Customer or TD Bank within 6 months after account opening, TD Bank does reserve the right to deduct the bonus amount from that account at closing. TD Bank may issue you an IRS Form 1099-MISC, or other appropriate forms, reporting the value of the bonus. Offer may be withdrawn at any time and is subject to change. One bonus per account per Customer and can not be combined with any other offer. TD Bank employees and XXXX cross-border banking Customers are not eligible. 

2Monthly maintenance fee can be waived with one of the following : {$5000.00} or more in direct deposits within a statement cycle or {$2500.00} minimum daily balance is maintained or {$25000.00} minimum daily combined balance of all deposit accounts, all outstanding home equity loan and home equity line of credit accounts, and/or mortgages in good standing ( excludes credit cards and personal loans ) that you choose to link.

3Non-TD ATMs : TD fees waived regardless of balance, and non-TD fees reimbursed when minimum daily balance is at least {$2500.00}. For non-TD ATM transactions, the institution that owns the terminal ( or the network ) may assess
a fee ( surcharge ) at the time of your transaction, including balance inquiries.

4TD Convenience CheckingSM monthly maintenance fee waived if the Primary account holder is age XXXX  through XXXX  years of age. Upon the primary account holder 's XXXX  birthday, the account will be subject to the monthly maintenance fee unless the minimum daily balance is maintained. 

5TD Bank Mobile Deposit is available to Customers with an active checking, savings or money market account and using a supported, internet-enabled XXXX or XXXX device with a camera. Other restrictions may apply. Please refer to the Mobile Deposit Addendum.

6A business day is every day, except Saturdays, Sundays and federal holidays. 
XXXX original complaint : Opened checking account with TD Bank in XX/XX/XXXX. There was a cash bonus offer in the amount of XXXX. I needed to get a direct deposit of XXXX into the account. The first qualifying direct deposit in the amount of XXXX went in on XX/XX/XXXX within a few weeks from the account opening. The offer I listed below. I contacted td four separate times to inquire. Two separate reps stated that I should receive the bonus soon or sometime around 180 days from account opening. I received an email response on XX/XX/XXXX stating bonuses are paid 140 days from account opening ; however, it was a generic email. I called today and the rep, XXXX, stated that I was not eligible for the bonus. I explained the scenario and she said she didn't see any notes from the previous reps and that their bonus offers expired in XXXX. Perhaps one of their standard bonus offers expired but I submitted mine through an online affiliate site which routes you td 's site and provides all of the bonus information. XXXX XXXX XXXX XXXX XXXX TD " Affiliate '' Checking account offer from " TD Convenience CheckingSM New customers can earn {$150.00} Get direct deposits of {$500.00} or more within 60 days of opening your account to earn {$150.00} Everyday banking perks with low minimum daily balance requirement Monthly maintenance fee waived when you maintain a {$100.00} minimum daily balance. If you're ages 17 23, no monthly maintenance fee and no minimum daily balance requirement.4 View account guide '' https : //www.td.com/us/en/personal-banking/checking-aff-incentive-55/? src=src : aff : cchq : aff01a & ranMID=40283 & ranEAID=OAeF4LPMj4E & ranSiteID=OAeF4LPMj4E-JX7sghXp2AgTH4GOHeoXig & siteID=OAeF4LPMj4E-JX7sghXp2AgTH4GOHeoXig

Company response to consumer: Closed with explanation