Consumer complaint received 2024-12-19 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Other transaction problem — 
Company: TD BANK US HOLDING COMPANY
State: ME

Complaint narrative:
TD Bank XXXX XXXX permanently suspended my ability to transfer funds between myself and clients after I received a deposit/transfer that I had previously declined. XXXX Bank has not given me any clear reason why, on a transfer that I did not initiate, could caused my ability to transfer funds to be revoked. This has cost me hours on the phone with TD and branch visits trying to get a simple explanation. I also was not given any opportunity to dispute this with XXXX. TD Bank could not even offer any contact information for their partner company XXXX and stated that I could do a web search if I wanted their phone number. But TD Banks Legendary Service is all you hear while on hold for hours. 

On Friday XX/XX/year>, I received from a client through their account with another bank, a deposit for {$2800.00}. The client and I had initially agreed on a rental arrangement, but after not receiving the deposit after 5 days, I emailed them that morning at XXXX and stated that I was not interested in pursuing the client relationship further. See Email XXXX. XXXX hours after I sent the email stopping any deposit, TD sent me an alert that I had a received a deposit from the client for {$2800.00}. See Email XXXX. I contacted TD by phone within an hour of receiving the deposit in an attempt to reverse the deposit. I spent almost XXXX minutes on the phone but TD was unable to provide me with a clear reason on why I could not simply return the funds. See Phone Logs XXXX. 

Since TD was not able to help, I started to return the funds the following Monday morning through TD & XXXX. Even though I received {$2800.00} in one single transaction, TD Bank has a limit of a {$1000.00} transfer instantly per day. A {$2500.00} transfer through TD and XXXX would have taken 48 hours. After obtaining agreement with the client that it would take three days to return the funds, on Monday XX/XX/XXXX I returned {$1000.00} to client. See Email XXXX. I did the same again on Tuesday XXXX with the remainder to be transferred on Wednesday. See Email XXXX. Less than two hours after my 2nd transfer back to the client, TD Bank suspended my ability to do further transactions with no explanation. See Email XXXX. I ultimately had to return the remaining {$800.00} to the client by check. Americas most convenient bank All funds have been returned to the client in the most painful process that only TD Bank could create. I followed TD Banks direction ; I spent over an hour on the phone wth TD and filed an inquiry attempting to restore my XXXX profile. See Phone Logs XXXX. It was quickly denied. See Email XXXX. 

Besides obtaining answers to my questions below, I am seeking that my XXXX account be fully restored. 

Questions to be answered by TD Bank : Does TD Bank XXXX XXXX consider that this transaction was fraudulent and that I engaged in any fraudulent activities ( s )? 

Why isnt there a mechanism to dispute a transaction of this type when it can easily be done with credit reporting disputes? 

How can my account inquiry with TD Bank be denied without any reason or explanation? If I was denied a loan, the Fair Lending and Fair Credit Reporting Act have ensured that the consumer understands why a denial occurred by Federal law. What Federal laws regulate consumer rights regarding transactions through third party agents that TD Bank chose to partner with? 

Has any of my account information, transactions, or activities been reported to any searchable databases, reporting agencies, or federal or state agencies? 
Why did TD Bank accept a deposit into my account of {$2800.00} in a single transaction but my limit with TD Bank for is only {$1000.00}? 

What is TD Banks policy regarding identifying and accepting a deposit from an individual or entity who is the not account holder of the account the deposit is being made to? Under what conditions would a deposit be returned or rejected? Can an individual deposit into an account, in person at a branch, with just a physical deposit ticket? Is anything else required? 

Is TD Bank under any type of cease and desist, or other order that would cause a customer to have limited ability to perform transactions? 

What was the issue with my XXXX on XX/XX/XXXX that prevented me from immediately returning funds back to the client? 

What is the term of the current contract between TD Bank and XXXX? When does it renew? 

What is XXXX customer service number, and also Zelles corporate legal department address and number?

Company response to consumer: Closed with explanation