Consumer complaint received 2020-07-29
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: TD BANK US HOLDING COMPANY (CT)

On XX/XX/20, I made an ATM deposit at the TD Branch located at XXXX XXXX XXXX XXXX XXXX NY XXXX with two money orders each valued at {$990.00} for a total amount of {$1900.00}. 

On XX/XX/20, TD Bank deducted {$1900.00} from my checking account ending in XXXX when only {$200.00} from the original ATM deposit was made available. This caused an overdraft on the account due to insufficient funds. 

On XX/XX/20, an overdraft fee in the amount of {$35.00} was levied on the account. 

On XX/XX/20, I receive a letter stating that my ATM deposit was reduced to {$0.00} due to 'Illegiable money orders '. The letter states that this is to correct an error on my deposit. Unfortunately, the ATM scanner was not able to detect the ink on the money order as it was set to only read in the greyscale color scheme. I reached out to TD Bank via telephone, only to be told that this can only be solved at the branch where I deposited the money orders. The branch where I made the deposit is over 140 miles from my home of residence. I told them that a five hour round trip commute to resolve my missing deposit was unacceptable and that the branch was temporarily closed indefinitely at the time. I was told that an in branch visit is the only way to resolve this deposit error. 

On XX/XX/20, after multiple attempts to reach the XXXX XXXX branch, Mr XXXX reached out to me in an attempt to resolve the matter. Mr XXXX reviewed the deposit error correction document dated XX/XX/20 and repeated that a TD branch visit is my only choice in resolve this matter. 

On XX/XX/20, following the advice of Mr XXXX, I drove 40 minutes one way to the closest TD branch in XXXX, CT from my home of residence. The branch manager was not available so I left a copy of the ATM error correction letter to the teller. Mr XXXX, the branch manager reached out to me later that evening telling me that there is nothing he can do and that he will reach out to Mr XXXX to resolve this issue. Mr XXXX told me he will reply to me after a 48 hour turnaround. 

On XX/XX/20, after not hearing from Mr XXXX, I reached out via email for a status but received no reply. On the same day, Mr XXXX reached back stating that he is starting the resolution process by sending an inquiry to the ATM settlement group. 

On XX/XX/20, a maintenance fee was levied on my checking account due the ATM deposit removal and the overdraft fee reducing my balance to less than {$100.00}. 

On XX/XX/20, I reached out to Mr XXXX on the inquiry to the ATM settlement group. He stated that there has been no response and suggested that I reach out to the money order issuer to re-issue new money orders. I reached out to XXXX regarding new money orders, of which replacements would cost {$18.00} each and requires at least 7 business days of processing and another 3 days for mail delivery. I reached out to Mr XXXX regarding the cost of replacement on which he stated that proof of the replacements fees would be required as proof. 

I find that burdening me with the task to replace my own money orders to be an unacceptable resolution. It has been over 30 days since the ATM deposit and funds have still not been made available. I still have financial liabilities and obligations that is severely hindered by TD Bank 's inaction and lack of speed in resolving this matter.