Consumer complaint received 2019-09-28
Product: Checking or savings account — Checking account
Issue: Managing an account — Problem using a debit or ATM card
Company: TD BANK US HOLDING COMPANY (MD)

My initial inquiry to TD bank. There is {$420.00}. XXXX in overdraft fees. For an XXXX ride {$20.00} was charged, but there is a charge of {$170.00} in overdraft fee. Then there was a repetitive XXXX credit/debit from my acct and fees was assessed to the multiple transactions. Please reimburse or credit the fees to my account today. The other fees and charges I acknowledge, how am I supposed to pay my bills and fees my children. 

Their reply : Good afternoon XXXX, Thank you for contacting us about a recent overdraft fee. 

We understand receiving an overdraft fee can be frustrating ; we want to provide options to avoid getting these types of fees in the future. 

Please know, TD Bank operates on Time Ordered Processing, which means transactions are processed in chronological order in which they are done. 

To avoid being assessed an overdraft fee, you must have the funds available in your account prior to making purchases or payments. Making a deposit or transfer into the account after the balance is overdrawn will not prevent the account from being assessed an overdraft fee. 

If funds are not available in the account at the time of the purchase, TD Bank may cover the item because you are currently enrolled in TD Debit Card Advance.

TD Debit Card Advance is our discretionary Overdraft Service. By enrolling in TD Debit Card Advance, TD Bank may authorize and pay overdrafts at our discretion on ATM and one time debit card transactions. TD Debit Card Advance is in addition to our Standard Overdraft Practices, in which we may pay items such as checks, ACH, and recurring debit card transactions into overdraft at our discretion.

With this option you may overdraw your account by up to {$5.00} without being charged an overdraft fee. We will charge you a {$35.00} fee for each transaction that overdraws your account by more than {$5.00}. We will not charge more than 5 overdraft fees per day.

A merchant may attempt up to three times to collect the funds for a transaction if the funds were not collected successfully the first time. 

We recommend that if this happens you contact the merchant to postpone the transaction until the funds are available or you may place a stop payment on the transaction with the Bank.

There is a {$30.00} service fee to place a stop payment.

Please note, the overdraft fee is always assessed the next business day after the transaction ( s ) that caused the overdrawn balance has posted to your account.

We recommend choosing the 'Not Enrolled ' option, this may reduce the amount of overdraft fees assessed to your account in the future.

You may change your enrollment status at any time by logging in to your Online Banking, calling us at XXXX, or visiting your local TD Bank Store. 

For your convenience, we have listed all transactions, including deposits, payments, and purchases, on your account below : A credit of {$70.00} has been applied to your account for this fee as a one-time courtesy. This credit will reflect immediately in your available account balance. Please allow 2-3 business days for this credit to reflect on your statement history. 

If you have any further questions, please respond to this message or call XXXX to speak with a Customer Service Representative, 24 hours a day, 7 days a week. 

Thanks, XXXX TD Bank Digital Specialist My Reply : Good Evening XXXX, Thank you for your reply and the reimbursement of XXXX However, I would like the remaining XXXX in overdraft fees returned to my account as well. I am fully aware of the transactions that were purchased and deposited to my account. I do not recall requesting the details of the transactions and it was redundant. FYI my card is enrolled in the TD Debit Card Advance. Please refund the remainder XXXX or I will have to take further actions by filing a complaint with the CFPB. 

Regards, XXXX Their Reply : Hello XXXX, Thank you for contacting us about a refund request. 

Please note, that TD Debit Card Advance allows you to overdraft your account to the Bank 's discretion.

With this option you may overdraw your account by up to {$5.00} without being charged an overdraft fee. We will charge you a {$35.00} fee for each transaction that overdraws your account by more than {$5.00}. We will not charge more than 5 overdraft fees per day.

We recommend that you unenroll from TD Debit Card Advance as this may help reduce the amount of overdraft fees assessed to your account.

We apologize as we are unable to waive any additional fees for this account at this time.

If you have more questions about this, or if there's anything else we can do for you, send us a secure message or call XXXX to speak with a Customer Service Representative, 24 hours a day, 7 days  a week. 

Best regards, XXXX TD Bank Digital Specialist