Consumer complaint received 2021-05-05
Company: TD BANK US HOLDING COMPANY
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Company closed your account

Complaint:
On XX/XX/2021 at approximately XXXX XXXX I attempted to open my TD bank account through online banking to find that I was unable to login and that an outgoing XXXX transaction had failed. 
I called XXXX to figure out what the issue was and I was informed that my account was currently frozen and in the process of being closed. I had received no prior warning of this ; no email, physical mail or any notice from TD representatives during the multiple times in XXXX that I had called to perform actions such as lifting holds placed on XXXX transactions. On those multiple calls, the representatives had access to my account information and should have informed me if there was any information related to account freeze or closure. I also did not even receive an email notifying me that my account was frozen ; if I did not see that an outgoing XXXX transaction failed and did not call TD after not being able to login to online banking, I would have no way of knowing that my account was frozen and in danger of being closed. 
The representative also notified me that the issue had arisen as a result of my inability to submit the XXXX form that I had received in the mail in early XXXX. I should have submitted the form but Covid-19 is very bad in my area and I did not want to risk going to anywhere that was not absolutely necessary, such as going to the post office to mail a letter. After all, the only consequence of not filling the XXXX form communicated me was written in the letter I received in early XXXX as " We will continue to apply XXXX  tax withholding at a rate of 24 % to all interest credited on your account ( XXXX ) until we receive the above information ''. It was an honest mistake on my part and I am fine with the results that come with the 24 % withholding rate that the bank communicated to me, but them freezing the account and informing me that it is in danger of being closed was never disclosed or communicated so that is bad business practice and lack of transparency on their part. Moreover, the XXXX form was not ultimately the reason my account was closed. I contacted the cross border line on XX/XX/2021 and spoke with a representative who informed me that the account would be closed due to fraud detection. I had not received any prior communication of this and I was under the impression that this was an issue with the XXXX form, not any sort of fraud detection. I was also not given any opportunity to defend myself from these claims of fraud, instead I was asked to simply call or visit my local branch. Upon calling my local branch at XXXX, as I was out of the country and unable to visit the branch, I was met with a message that instructed me that no representatives were available and to not leave a message as the voicemail service is not initialized. However, immediately following the message, an answering machine asks for a message to be left. Due to this lack of hold system and failure to take messages, I was forced to continuously call for approximately an hour until I finally got through to an agent who informed me that my account would be closed.

Company response to consumer: Closed with non-monetary relief