Consumer complaint received 2015-10-12
Company: TD BANK US HOLDING COMPANY
State: VA
Product: Bank account or service
Sub-product: Checking account
Issue: Deposits and withdrawals

Complaint:
I opened a business checking account with TD Bank on XXXX XXXX, 2015 with an initial balance of {$200.00}. On XXXX XXXX, 2015, an ACH deposit was made to my account in the amount of {$12000.00}. On XXXX XXXX, 2015 I wrote a check ( using XXXX of the starter checks that TD Bank provided me when I opened the account ) from the account in the amount of {$5600.00} and deposited it to my personal savings account at XXXX XXXX XXXX XXXX to reimburse myself for business expenses. The check was not honored and was returned to me, and I was charged a {$30.00} return check fee. There were sufficient funds in my TD Bank checking account to cover the check, and there was no reason for TD Bank not to have honored the check. 
On XXXX XXXX, 2015, TD Bank assessed my account a maintenance fee of {$25.00}. This was interesting because when I opened the account on XXXX XXXX, I was told by XXXX XXXX XXXX who opened the account for me at the XXXX, VA branch XXXX that as long as I maintained a balance of at least {$1500.00} that the fee would be waived, and that the minimum balance requirement was waived for the first two months that my account was open. On XXXX XXXX, {$12000.00} were deposited to the account. This was well within the two month timeframe stipulated. Additionally, from XXXX XXXX onward, my balance did not go below {$1500.00} until I closed the account. 
Because of the items described above, on XXXX XXXX, 2015 I went in to the XXXX branch and closed my account. Before I closed the account, I checked the account information in online banking and saw that the last pending item, ( which was an online bill payment to XXXX XXXX in the amount of {$1500.00} XXXX had cleared my account and no longer showed as " pending ''. When I was at the branch closing the account, I specifically asked the teller if she was showing anything in the account in a " pending '' status, and she indicated that she did not. In addition, my XXXX XXXX account showed a credit posted to the account on XXXX XXXX, 2015 in the amount of {$1500.00}, which was the online bill pay transaction. On XXXX XXXX, 2015, I received an email and a phone call from XXXX XXXX indicating that the {$1500.00} payment from TD Bank had been returned. I immediately called TD Bank 's customer service number to find out what happened. The customer service representative initially told me that she had no idea what I was talking about and that she reviewed my account and did n't see any record of a payment to XXXX XXXX and did n't show me having a balance of {$1500.00}. It took roughly a half hour and lots of time spent on hold while she looked into it further and concluded that TD Bank did not process the payment because I closed my account. She said that she did not know where the {$1500.00} was and that I needed to go in to my local branch to get the issue resolved because my account was showing a {$0.00} balance. A little while later that day I went to the XXXX branch and spoke with XXXX XXXX. She looked at my account and similarly could n't figure out what had happened and did not know how to go about getting my {$1500.00} back. She made a call to another office, and apparently they told her that she needed to send an email to central processing to request that they send me a check. XXXX indicated that she would follow up with me by the next day to let me know the status of my reimbursement for the {$1500.00}. I never heard anything back from XXXX. I still have not received the {$1500.00}. I have not been contacted by TD Bank at all over the course of this issue. Additionally, because of the returned payment, XXXX XXXX charged me a returned payment fee of {$27.00}, and I incurred interest charges in the amount of {$57.00} because the returned payment resulted in my account carrying a past due balance.

Company response to consumer: Closed with monetary relief