Consumer complaint received 2024-03-05
Product: Checking or savings account — Checking account
Issue: Closing an account — Company closed your account
Company: TD BANK US HOLDING COMPANY (MA)

On XX/XX/2024 I deposited a check in the amount of {$10000.00} as part of a sale of vehicle. XXXX XXXX was the potential buyer. XX/XX/2024 the funds were made available and proceeded with finalizing the sale of vehicle for a possible pick up XX/XX/2024 or onward. On XX/XX/2024, the buyer contacted me to discontinue the purchase of said vehicle. We communicated several times throughout the morning of XX/XX/2024 to return unused monies. I made several attempts to XXXX and TD Bank to ensure the money was good including to make sure there were no scams or misrepresentations. There were oddities that just raised flags. I called the issuing check institution to verify that this was a legit account, but they were unable to verify the amount of money over the phone ; however, were able to verify that this was a valid and legal banking account. TD Bank call center hub stated that this would be best served at the bank to clear up. At approximately XXXX XXXX, I went to do a wire transfer to refund some monies that was agreed upon. Monies was verified and no red flags on the account at this time. Completed the transaction via deposit as it was a TD Bank customer to another TD Bank customer. It wasn't until later on that same day XX/XX/2024 approximately XXXX XXXX  ( close to end of day ) that I was logging onto my TD Bank mobile app to do a transfer between personal accounts that I learned that the check was returned and my joint bank account was overdrawn XXXX XXXX. I had transactions that I did prior with a small balance that was already in the account prior to depositing fraud check and of course this recent {$3000.00} transaction. I immediately called the TD Bank 's toll free # and spoke with a representative from their call center hub. The same that I called earlier to get clarification. There was no way to reach anyone at the local bank and they had limited transactions that they could do. I am pretty versed in banking financial processes. I explained to the representative the urgency on this and try to figure out why the transaction went through if the check was insufficient. These are usually verifiable within 24-48 ( max ) hours of ACH verified transaction. I reported the fraud to local police department. XXXX XXXX XXXX  dispatched a detective to my home as I was XXXX  from a XXXX  XXXX. I went to the TD Bank office I usually go to right when they opened. I spoke with the young lady, XXXX XXXX, Retail Banker. I had spoken with the day prior ( XX/XX/2024 ) to do the wire transfer explained the situation and she made contact with the Fraud Department at the banking institution. She drafted an affidavit upon their instruction on what transpired. I was not given a copy of the affidavit but trusted the bank would be wanting to take all measures to protect themselves and myself of this scam/fraud scheme. She did explain that because the previous day 's transaction was voluntarily initiated that it may not be reversed. It seems to be that there was a miscalculated accountability on behalf of the TD Bank Financial institution. I trusted TD Bank and that their Fraud Department would have all the indication of the fraud/scam scheme and make a reversal of the transaction, voluntary or not, this individual was not entitled to the monies due to the apparent misrepresentation even if he was not part of it either.

I have been long time and good standing consumer of TD Bank and frankly this is something entirely unforeseeable, unprecedented and unlawful at that let alone not logical at all. My representation of this being a possible scam or fraud should have initiated a red flag at the bank for further investigation the minute I called the call center hub and followed their direction to go to the TD Bank itself. I would have understood that as a point of business including protecting the interests of all parties. As a consumer I did my due diligence and reasonableness to indemnify the bank and myself as soon as reasonably possible within my means including compromising my own health in my XXXX  XXXX. 

To date, I have had 3 associated accounts frozen and pending closure. My primary joint account and 2 family relative accounts my name is on from when my daughters were of young age are subject to closure. There was no prior communication or disclosure of this occurring to either parties. We learned only by accident when my daughter tried to do a transaction on XX/XX/2024 at approximately XXXX XXXX  with her debit card. I reached out to the TD Bank call center hub again to find out what was going on. Upon further researching we learned there was a freeze on the account and they directed me to the TD Bank branch again. At this time, I reached out to XXXX XXXX via email and left a message with a colleague to please call me back as I again was XXXX. No response was returned that day. On XX/XX/2024 I attempted again to call the TD Bank branch but received a voicemail and at approximately XXXX XXXX, I visited the TD Bank store and spoke with XXXX as XXXX XXXX was with another customer. XXXX attempted to contact the Fraud Department to get more information and was not able to make contact after 20  minutes. She was kind enough to say she was trying to restore the accounts relationship after explaining that these accounts were not mine but my daughters in order to resolve the compromised account with monies that was being deposited into one. She stated she will call me back with the findings. XXXX did return the phone call on XX/XX/2024 and stated that the upper department managers at Fraud Department had made a decision to discontinue and sever business with all of us. No further explanation only the vagueness that it was a result of the fraud. I asked if my daughter could come by to close out the account to get monies and XXXX stated that she could do so. My daughter wasn't able to go that same day but made plans for XX/XX/2024. If earlier communication was given, I would have prepared well in advanced including my family if this was going to be a plan of action by TD Bank. This has been an upheaval and caused financial hardship to my entire family. My daughters have no access to the funds that was there including additional funds for other items of business. I tried to even look at the bank policies and agreements. I didn't see anything disclosure on that end or bank discretion on these types of situations. I am not ignorant that the bank has to do their steps to protect themselves and of course monitor suspicious activity. We were not averting any responsibility at all and wanted to continue doing business with TD Bank in the time it took to resolve this. We no longer want that at this time with TD Bank. TD Bank discarded our business relationship very carelessly. We do not want to do business with them where they can not see beyond numbers and look at their patrons/consumers as people. A " one size fits all '' isn't adequate for business operations. Very unethical and poor business practices. I had XXXX give me a faster response in the interception of the fraud in their platforms. There may have been a couple of hiccups but they were very in tune with their consumer base to take steps to quickly resolved. 

Resolution I am seeking is on merit and principle. I want the XX/XX/2024 {$3000.00} money transaction reversed as result of this scam/fraud, subsequent overdraft costs, associated fees, and monies in the bank account returned. In addition, we want there to be no negative impacts on credit reports of all bank accountholders in this unfortunate event. Fraud alerts have been placed including freeze on credit reports. I do understand that there may be associated fees I will be responsible for and will pay those accordingly. Due to the account being closed I was unable to return those fees as planned. I was not ever negating that responsibility ; however, due to TD Bank closing the account monies had to rerouted creating more financial hardship including not being able to meet other obligations. Lastly, educate TD Bank no their practices handling future scam/fraud so as to not have another consumer have to endure this again within reason or with reasonable protocols to protect all parties involved. TD Bank has shown themselves just as untrustworthy and poor goodwill practices as XXXX  XXXX XXXX, XXXX and others who have been named in class actions for improper uses of banking power to their consumer community. 

Emails are not fraud - one is for the advert for the sale of vehicle as well for the two separate TD Bank account notifications. XXXX has scam/phfishing protocols to reduce redundancies for email delivery.