Company Response
1/23/2025
This letter serves as a response to a concern received from the Business Consumer Alliance dated 12/04/2024. I would like to take this opportunity to let you know that TD Bank remains committed to maintaining a high level of customer satisfaction and that our representatives are trained to provide legendary service to our customers.
Your concerns are important to us, which is why we began looking into your concern immediately. In your inquiry, you questioned the inability to access your account. Your accounts are continuously monitored for suspicious activity and while we understand having your access restricted can be a frustrating, please understand this is done for your protection.
On 10/24/2024 savings account ending 8671 was opened
On 10/24/2024 a $6,860.55 check deposit was made at TD bank.
On 10/25/2024 the check for $6,860.55 was returned.
On 10/25/2024 the account was restricted, and the decision was made to end the relationship
On 11/08/2024 account was closed
The decision to end the banking relationship was due to the discrepant activity. Upon escalation, leadership reviewed and upheld the decision. At this time the banking relationship will end
Per the deposit agreement form, page 18-
Returned Items Subsequent to Availability of Funds:
If a check or other item you deposited to your account is returned to us unpaid after the fund have been made available to you, the amount of the check or other item will be decided from your account. If there are insufficient funds in your account, we reserve the right to demand payment directly from you and to charge you for the overdraft, if applicable, as posted in our most recent Personal Fee Schedule. Per the deposit agreement, as the account holder, you are responsible for the items deposited into the account. Check deposits typically take 7-10 days to clear the originating financial institution. If account holder is uncertain of the origin of a check, or following the direction of a third party, it is the accounts holder's responsibility to ensure the funds are valid prior to withdrawing from the account.
Please see the below excerpt from the Personal Deposit Agreement that you agreed to when opening your account regarding our right o close your account.
Our Right to Refuse/Close Accounts: The Bank reserves the right to refuse to pen any Account and to terminate any account at any time, ad for any reason, or no reason without notice to you (unless notice is required under applicable law). The terms of this Agreement apply to your Account even after the Account is closed. After and Account is closed, we may within our sole discretion reopen and Account to debit a transaction, recover a loss, reverse provisional credit, or for any other reason. If we re-open an Account, the terms of this Agreement continue to apply to the Account.
While we realize the information provided may not alleviate your frustrations, we hope this letter helps to clarify TD Bank's actions with regard to this matter. We strive to provide exceptional service and regret we did not meet that expectation in this instance. We apologize for any inconvenience this may have caused. If you have any questions, please feel free to contact our Customer Cares team at 864-250-5266 or [email protected] Monday through Friday from 9:30am-5pm.
Sincerely Jay B
Customer Cares
US Fraud Operations
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