Consumer complaint received 2023-05-22
Product: Credit card or prepaid card — Store credit card
Issue: Fees or interest — Problem with fees
Company: TD BANK US HOLDING COMPANY (NJ)

Dear Sir or Madam, I am setting out the chronology of events that prompt my complaint. In sum, TD Bank charged me interest because of an existing balance at the end of the deferred-interest promotional period. TD Bank, however, fails to acknowledge that their faulty online bill payment platform contributed to my having had that balance. 

At the beginning of my interest-deferred promotional period I used their online bill payment platform to schedule recurring monthly payments which would have cleared the balance during the promotional period. Despite confirming that my instructions were " submitted '', the online bill payment platform did not execute my instructions ; instead, it paid only the minimum amount monthly - so I had a balance at the end of the promotional period. Most significantly, at no point during the promotional period did the bank communicate to me either directly ( via email, text, etc. ) or on the bill payment platform itself that my instructions had been canceled or otherwise overridden. Indeed, when I wrote to TD Bank recently, their bill payment platform still reported my monthly auto-payment instructions at the higher amount as " submitted '' ( not " canceled '', which is another option available on the platform ). In essence, they have a platform that lulled me ( and likely other consumers ) into relying on their representation that I had taken all of the steps necessary to avoid extra costs. Then they assessed me those extra costs. 

Many consumers use creditors ' auto-payments options so that we can forego constant vigilance with the confidence that we have " taken care of everything. '' I have never before had an recurring payment instruction ignored without warning or explanation. I believe TD Bank 's ongoing practice of not expressly warning consumers that their recurring payment instructions will not be executed to be unethical and fraudulent and, at worst, merely a means to secure extra fees. 

Chronology : XX/XX/XXXX : I purchased a furniture set for {$2000.00} from XXXX XXXX XXXX on a 12-month interest-free promotion. For the purposes of the promotion, the beginning of the 12-month period was XX/XX/XXXX. 

XX/XX/XXXX : I used TD Bank 's online bill payment platform to arrange the payment of $ XXXX. The platform 's page indicated that the instructions were " submitted ''. 

XX/XX/XXXX : I had a house fire and was displaced thereafter for XXXX  months. During my displacement, I had sporadic access to mail and was grateful for the autopayments I had set up with my creditors. 

XX/XX/XXXX : The date by which the original purchase price would have been paid off. 

XX/XX/XXXX : I purchased another furniture set from XXXX XXXX XXXX to replace the set destroyed by the fire. 

XX/XX/XXXX : I was assessed {$570.00} in deferred interest charges because of the ongoing balance on my purchase from XX/XX/XXXX. 

XX/XX/XXXX : I was assessed {$48.00} in interest on the unpaid balance from the XX/XX/XXXX purchase. 

XX/XX/XXXX : I emailed TD Bank and sent a current screenshot of the online bill payment platform showing that my XX/XX/XXXX instructions to pay $ XXXX were still marked as " submitted '' on their system. 

XX/XX/XXXX : TD Bank responded to my email with a letter stating that " The finance charges were valid.... ''