Consumer complaint received 2017-10-08
Product: Checking or savings account — Savings account
Issue: Managing an account — Fee problem
Company: TD BANK US HOLDING COMPANY (NJ)

XX/XX/XXXX I deposited to my savings account at TD Bank, a {$100000.00} check from my own US Dollar account at the XXXX XXXX XXXX. I consulted with the manager,  XXXX, as to the time it would take for the funds to be available and whether or not there would be fees involved. She assured me that since the check was from a US dollar account even though in a XXXX XXXX, that there would be no fees and it would take 5 business days for the funds to be available. 

XX/XX/XXXX The funds had not yet appeared in the account so I consulted with the manager who was unable to find out any information as to the delay and suggested I call the foreign check collection division of TD. When I called I spoke first to XXXX employee number XXXX who was unable to help and put me through to XXXX in Foreign Check Collection. She initially said the delay was due to making the foreign exchange and when I informed her there was no exchange to be made since it was coming from a US dollar account, she said the manager who  processed the check made a mistake in the way it was presented and therefore it would take 4 to 6 weeks to arrive. 

After several visits back to the branch manager, XXXX, and several more phone calls the funds were finally deposited in my account on XX/XX/XXXX. However the amount was not the face value of the check but XXXX or {$150.00} less than the full amount. 

XX/XX/XXXX I called the customer service number and got another run-around about exchange fees and when that did n't satisfy me ( since there was no currency exchange! ), I was told that the XXXX XXXX deducted the fee from the check and that TD did not receive the face value of the check. I questioned how it was possible that a bank would accept anything less than the full value of the check but got no answer. 

I called XXXX ( both the customer service line and the branch where my account is based ) and confirmed that they paid out the full face value of the check and that no fees were deducted. They also pointed out that had there been fees, they would have been deducted from my account, not the check. ( *XXXX XXXX offer these US dollar accounts so that their customers can use them in the U.S. with no fees, exchange or otherwise ) I then went back to the branch manager, XXXX , who said she would look into the problem. She later informed me that {$17.00} was a fee from TD which would be refunded, ( it was ), but that the other {$130.00} was a fee from the XXXX XXXX. She printed out a letter which was supposedly mailed to me showing these fees ( see attachment ). I remarked that the letter was meaningless since it gave no information as to which back supposedly charged the fee and moreover, there was no signature on the letter! She said that the one I would receive in the mail would be signed and left it at that. 

XX/XX/XXXX I called the customer service line at TD and asked to speak to a supervisor. XXXX, looked into the matter. He at first said he thought that the transaction had been processed as a bank wire and therefore the fee, but then realized that it was a simple check deposit and would have no fee attached. After putting me on hold he came back and referenced the same letter that XXXX had, insisting that the XXXX XXXX  had charged a fee. When I informed him that I had already confirmed with XXXX that there was no such fee ( nor would there be ) he suggested that maybe there was an intermediary bank used ( as in the case of wire transfers ) and that they had charged the fee. I pointed out to him that if a wire fee had been charged that TD should refund it to me since there was no wire transfer! He suggested I go back to the bank manager and again call XXXX. Later that day I did receive the letter from TD but it still had no signature and therefore no one to hold accountable for the incompetence ( or fraud ) in this matter. 

XX/XX/XXXX I again called XXXX speaking to the assistant manager and confirmed that they had paid the full face value of the check to TD and that there were no fees involved. She said they do use an intermediary bank for wire transfers but, of course, since this was NOT a wire transfer, the money was sent directly to TD. 

I then called customer service at TD again, this time speaking to supervisor XXXX. After going through, once again, the usual nonsense about exchange fees and the XXXX XXXX fees, I told him that I wanted the {$130.00} repaid to my account immediately. He said he had no authority to do that and would have to request it though channels. I asked why I was not previously informed of these " channels '', got no answer, and said he could do that but I was still going to file an official complaint with the Consumer Financial Protection Bureau. 

I spent hours on the phone and going to my local bank branch to try to resolve this. Each time I got a different story and therefore have to conclude that either no one at this bank has the slightest idea of what 's going on, or there is deliberate fraud somewhere along the line.