- Report: #607114
Complaint Review: TD Banknorth - Hartford Connecticut
Reported By:
Botsy -
Glastonbury, Connecticut, United States of America
Submitted:
Updated:
-
Author Not Confirmed
Why?
TD Banknorth
Hartford, Connecticut, United States of America
Phone:
800 428-7000
Web:
www.tdbank.com
Categories:
Business Rating:
(0)
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TD Banknorth online statements reflect incorrect balances, monies available, finding ways to collect more fee's Hartford, Connecticut
My unfortunate experience with Banknorth, I 've been customer for 10 years, started with new fee's being deducted from my accounts. They have designed creative explainations that they can stand behind because it's based on electronical transaction times. They'll allow you to take money that later on they tell you was not really there? Isn't it odd that they can charge you for monies that are not available, but yet they still give it to you?? Then you get the penalties, fee's that they thrive on, but they do say they're sorry!
Banks are big business and there's not much that probably can be done to stop this nonsense, but you can choose other options. My feedback to anyone looking for an honest, customer focused bank would be to stay away from these types!
I heard Charles Swab has great products that actually give you same features like checking, ATM, Credit Cards but they don't try to take your money, they actually have interest being paid into your accounts. What a novel idea! Just say no to Banknorth!
1 Updates & Rebuttals
Ronny g
North hollywood,California,
USA
Actually...
#2Consumer Comment
Thu, May 27, 2010
Two easy ways to prevent fees...
1) do not spend more then you have, only depend on your own records, not the banks
2) opt out of overdraft coverage...
The problem is, the banks encourage us to depend on the online statements as a reliable way to 'manage' our accounts. Just read ANY bank literature and you will notice this.
Of course many find out too late..that the 'available' balance as posted is not real time, transactions are held, come and go at will, are time re-sequenced and manipulated, and,,, if you trust the "available" balance as accurate, you will most likely overdraft.
Now you stated something in the report that is not true..and I quote..."Then you get the penalties, fee's that they thrive on, but they do say
they're sorry!
Banks are big business and there's not much that probably can be done
to stop this nonsense..."
There is something being done. Due to all the complaints regarding this..which was the banks "allowing" debit card transaction to be approved when the account was insufficient and giving customers a loan whether they wanted it or not, has not only landed most of the larger banks in a class action lawsuit, but required the feds to step in. ..
"Starting this summer (July 1st for new cards and August 15th for
existing accounts) customers will have to opt-in to get overdraft
protection on their account. So rather than getting charged $35 for that
Snickers bar, your card will be declined. Some people will still prefer
not to have their card declined, but you can bet that people are going
to save a lot of money (and banks will lose a lot of money) without the
automatic opt-in that many banks currently have."
