Consumer complaint received 2018-06-28
Product: Checking or savings account — Checking account
Issue: Managing an account — Problem making or receiving payments
Company: TD BANK US HOLDING COMPANY (CA)

Complaint : Summary : This is about an active business account in good standing that has is in a situation of fraud and being negative {$54000.00}. TD Bank is being negligent and delaying the process to recover the significant amount of funds that our business to continue operating. There is a detailed timeline below. 

We issued check # XXXX for {$54000.00} to one of our vendor XXXX XXXX, XXXX, but they did not receive the check. We believed it was due to a snowstorm that happened at that time so we issued another check # XXXX  for the same amount. About a week later we discovered that both checks were cashed leaving our account negative about {$40000.00}. After investigation and getting copies of the cashed checks, we quickly saw that check # XXXX  was intercepted, washed, and deposited to some other business 's account. The signature was wrong and the payee was different. 

We were in XXXX at the time so we quickly called TD Bank 's fraud department to update them on this matter, but over several phone calls and days of calling, they kept 1. pointing us to other departments 2. leaving us on hold for over 1.5 hours or 3. hanging up on us. After getting a hold of the fraud department and telling them the situation the first time, I learned shortly after I made a follow up call, that they made a mistake on taking the notes on which check had been washed. They told me that the case has been resolved and that the bank was already sending the money back. This was false because the bank was returning check # XXXX  that bounced. After a few more calls they finally got the story straight and was working on getting the XXXX department to handle it. Every time I did call to make a follow up they kept emphasizing that this may take up to 90 days to resolve. 

After about 1.5 months of calling into the branch and to the fraud department someone was able to get the XXXX representative that was handling my case to give me a call. He called and told me that he had tried calling me several times and left messages, but this was the first time I had ever seen a missed call from his number and I had no voicemails. He requested more information and documents that I had provided to the fraud department via fax and certified mail from my attorney. He also emphasized that this may take up to 90 days after it has been over a month. I still emailed him everything that he asked for. A few weeks past and he doesn't respond so we send a letter demanding that they give us an update. He responds by saying that he is requesting again for the same documents that I had already sent him. 

Now about 2.5 months in I call XXXX to see if she has any updates. She has been following up with the account and sees that XXXX XXXX has no update on the claim. She tries to contact XXXX to see if there is an update and shortly after a new person has been assigned to my account, XXXX XXXX. She gives me his contact after she had spoken with him. She also says that he has tried to call me several times, again I had no missed calls or voicemails from XXXX. I call him multiple times starting the same day I got his contact. It always goes to voicemail where I leave him messages. I have not received a call back since. 

I follow up with XXXX and she says he has been responsive through emails. I tried sending him an email and the message got sent back. 

At this point it has already been 3 months, I have had to take out loans to keep my business afloat. This is really hurting my business as I don't have enough capital to pay my vendors. I have utilized my business relationships to their maximum with being lenient on payments etc. This bank seems like it is just taking advantage of their customer 's patience. 


Detailed Timeline : XX/XX/XXXX : We write check # XXXX to XXXX XXXX, XXXX for {$54000.00} XX/XX/XXXX : No updated on tracking for the check so we thought it might be lost or delayed in transit. 
XX/XX/XXXX : # XXXX  was debited but we didn't know. This time we also knew that there was a snow storm in XX/XX/XXXX : XXXX confirms that there is a snowstorm so XXXX sent out # XXXX for {$54000.00} XX/XX/XXXX : # XXXX was deposited XX/XX/XXXX : XXXX  XXXX XXXX is negative ~ {$40000.00}. 


XX/XX/XXXX XXXX ( 2 hours ) : - Talked to the fraud department and told her what happened with the checks and we confirmed that it was an intercepted check and that it was washed. We verified exactly which check because we went through the Payee 's name several times, and I confirmed with her I never wrote a check or had a vendor named XXXX XXXX XXXX. The girl on the phone walked me through the steps of what needs to be done : 1 ) Go into the branch and sign an affidavit stating that the check is fraudulent 2 ) Limited lockdown on the account 3 ) Go into the branch to initiate the creation of a new account and transfer all the funds over - I told her if it is possible for me to do all of this on the phone because I am in XXXX. She said not to worry about the funds because it looks like they already caught the check and the money is going back into the account already, but that we should still continue with the process of 2 ) and 3 ) which 1 hour later on the phone she said they could do by sending me the signature cards to open a new account.

- she put me on hold for 1 hour ( total of 2 hours now ) and then the system hung up on me. 

XX/XX/XXXX : - I wanted to confirm that the funds were back in the account because I looked through my app and it had not returned yet. 
- I called the fraud department and waited for 1 hour then the system hung up on me - I called the regular customer service department told them that my account had a fraud charge, so they sent me to the fraud department again, waited 30 minutes and system hung up on me. 
- I called again to regular customer service and I couldn't verify the correct information so they locked me out of the account and told me I had to go into the branch and verify myself. I told them that's impossible bc I am in XXXX and I live in California is there another way to do this. She said no. I got upset and told them they have the worst customer service and then she hung up on me. 
- I called customer service again to talk to a supervisor to tell them its urgent that they help me because I have a fraudulent charge of {$54000.00} on my business account and I need the funds. She said sorry only fraud department can help you with that. I said I have waited on the phone multiple times for 1-2 hours every time the system hung up on me. When I did have someone on the phone she put me on hold for 1 hour and never came back. I asked her if she thought that was ok. She said no. I asked her if she could do anything to help me. She said no and hung up on me. 
- I tried calling the fraud department again waited for 20 minutes and quit trying. 

XX/XX/XXXX - I tried calling the fraud department and quit after waiting for 30 minutes. 

XXXX - I waited for them to open at XXXX EST and got a hold of someone - This girl confirmed that the previous representative made mistake noting that # XXXX  was the fraudulent check even though I confirmed with the previous girl that The XXXX XXXX XXXX check number # XXXX was the fraudulent one. 
- She added the notes in and made the correction. She confirmed then that the funds HAVE NOT been returned because it was # XXXX  that was returned due to insufficient funds. 
- She told me I had to go to the brand to do the steps above. I told her I can't due to being in XXXX. She said the only way is to mail me the affidavit and signature cards to the mailing address on file. I said ok I'll do that. 
- I asked her if we will get our money back and when. She said money will 100 % come back, but it could take up to several months and it depends on when they get the affidavits so they could start the investigation. 
- I asked her to make a note on my account to recover the funds ASAP because the business needs to expense the money. 
- She told me since the account is on lockdown I will need to notify them of any outgoing payments. 
- I told her that we will issue checks : # XXXX - {$40000.00} - XXXX XXXX XXXX. 
# XXXX - {$5600.00} - XXXX XXXX XXXX We received the documents sent to the store. These documents they requested we fill out and mail back from them via mail or fax. 
XX/XX/XXXX XXXX XXXX sends the all the documents including Affidavit and all the documents that TD Bank requested. 

XX/XX/XXXX Called to check on the status of the case. No information and notes that it could take up to several months to collect the money. 
Told them to clear checks : # XXXX : {$780.00} to XXXX XXXX # XXXX : {$5600.00} to XXXX XXXX XXXX Called to Check on the status of the case. No information and notes that it could take up to several months to collect the money. 
Told them to clear checks : # XXXX  : {$620.00} ( This was the wrong amount by me but will adjust on ) # XXXX : {$780.00} to XXXX XXXX was actually written XX/XX/XXXX XXXX XXXX Call into the branch to speak with branch manager XXXX XXXX to see if he could give me an update. He tried calling and came back after a few minutes and said he cant get a hold of them and that he would continue to call until he got a hold of them and then call me when he does. 
He doesnt call back. 
XX/XX/XXXX XXXX XXXX from TD Bank from the XXXX department calls me by phone to request me to sign the affidavit form again because the copy they received is illegible. He says that he has tried to contact me several times with no answer. This is the first time I have ever heard from him. Maybe it was the call from the branch that got XXXX to call? 
I complained to him about the situation and said that I have been patient and I expect this to be resolved asap because it's a large amount of money. He told me that it could take up to several months to get the money and told me that usually overestimate the time to collect the funds so that they could under delivery on the actual time they said. He said he wanted a copy of the carbon copy in addition to the documents that I had already sent. 
I confirmed with him that I had sent these documents to the TD Bank HQ at XXXX XXXX, TD bank Branch attn to both branch managers XXXX and XXXX, and faxed it ( I have fax confirmation ). 
This is what he emails me shortly after the conversation : I respond in an email with all the documents that he requested. 
XX/XX/XXXX Called to Check on the status of the case. No information XXXX tried to cash the check but TDBank held it because I told them the wrong amount. So I updated them with the correct information and told them to release the check # XXXX for {$780.00} to XXXX XXXX. 

XX/XX/XXXX We send an email to XXXX stating that we are upset and demand a proper update. 

XX/XX/XXXX called the branch spoke with assistant manager XXXX. She looked at the notes on the account and said that there are no notes from XXXX XXXX. I told her that I have already spoken XXXX in XX/XX/XXXX and sent them all the documents that they needed and already have. I sent her the email chain and asked her to follow up. 

XX/XX/XXXX XXXX Some number XXXX XXXX XXXX XXXX Told me to call XX/XX/XXXX Called XXXX and XXXX to follow up Tuesday morning XXXX was assigned to the account because Arkeem was not being responsive so XXXX who is higher up was assigned. They said he tried contacting me on Tuesday but I have no call record or voicemail XX/XX/XXXX XXXX XXXX  tried calling no answer. Left a voicemail XX/XX/XXXX XXXX XXXX  tried calling no answer. Left a voicemail XX/XX/XXXX XXXX XXXX : tried calling no answer. Left a voicemail XX/XX/XXXX XXXX XXXX tried calling no answer. Left a voicemail. 
XX/XX/XXXX Sent an email and it was bounced back. Called XXXX to see if she had any updates and asked her to CC me on an email to XXXX. Never got an email from XXXX.