Consumer complaint received 2020-05-22
Company: TD BANK US HOLDING COMPANY
State: NY
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
I deposited 2 cashier checks and a check from an attorneys escrow account into my business account. It was from the sale of a property that I sold. The total was approximately {>= $1,000,000}. Of that total {$150000.00} was the attorney escrow and the balance was the two cashier checks. 
Tuesday XX/XX/XXXX at XXXX I made the deposit to the teller at the branch. 
Wednesday XX/XX/XXXX my account showed all funds were available and I had requested the assistant manager to wire the funds to another bank, my partners account. 
After completing all the documents and assuming The wire took place, my partners bank never received the funds. 
The assistant manager said the checks had to be verified. So I called back on Thursday and they still hadnt verified the checks and couldnt tell me any more about when that will be done. I called throughout the day and still no details except that the checks hadnt been verified. I asked for the manager and was told shes at another location. I asked for the regional managers name and number. I tried calling multiple times because it would just go to voicemail. Still no one has returned my calls. 
Friday XX/XX/XXXX. I went to the branch and asked them to wire an amount that didnt include the one Non bank check for {$150000.00}. The assistant manager said he could only wire Aprox {>= $1,000,000}. I agreed. Then after waiting 30 minutes he informed Me he actually could not wire any amount, because the funds were now not available and some one else would be calling me in a fee minutes to explain why. 
I received a call from the branch manager, XXXX XXXX, and she said she flagged my account for fraud so funds would not be available until next Thursday. 
She explained my personal account Was overdrawn ( which if it was it was like {$60.00} ). Also, She Said another business account of mine was closed and had a balance, which i was not aware there was a balance. So based on this she decided to flag my deposited checks as fraud and I would need To contact the fraud department. So from Tuesday to Friday afternoon my funds were available, and when I finally decided to move only the {>= $1,000,000} the manager decides its now worthy of flagging it for fraud. Ive been banking with TD Bank since 2013 and never have I had any problems with transferring funds. Except about 6 weeks ago they held up a {$20000.00} wire into my account that I was trying to wire to my attorney to purchase another property. The same manager held the funds for 10 days. 
I believe that there was no cause to freeze my account and was only done to either keep the money with the branch or because I was complaining they wouldnt verify my deposits. Why was the branch Assistant manager willing To wire {>= $1,000,000} and 30 minutes later I find out the manager flagged it for fraud? All I got was an 800 number to call from the manager, which nobody answers after waiting on hold for 45 minutes!

The assistant manager for 3 days kept giving me different answers about what had to be verified. Every time i spoke to him he was evasive and gave different answers.

Company response to consumer: Closed with explanation