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TD Bank Steals Fro Customers

TD Bank has on several occasions signed me up for overdraft "protection" without my consent. They have told me that they have a right to do this, as well as to re-order debits so as to maximize fees. I am not alone in being a victim of their practice of charging overdraft fees on occasions when I was not overdrawn. In fact, No matter how careful you are about never over spending, you will fall into their trap of ever increasing fees and penalties. Avoid TD Bank at all costs.

TD Bank Used To Be Good

I have always loved my local bank, which was Commerce Bank of NJ, PA, NY and FL. Very friendly and understanding customer service reps on the phone, and the people at the bank branch. When TD Bank ,NA announced they're acquiring Commerce in late 2007-2008, i thought things will be better for Toronto-Dominion Bank. There are much more branches now...ME, VT, NH, MA, CT , NY, NJ, PA, DE, MD, D.C., VA, and FL. Along Route 1 from MA to FL, you will find serveral TD Bank branches. Within each county, you can find numerous branches.  Each branch looks pretty much the same box bank.

Some areas that you may find advantageous or disadvantageous to TD Bank Personal Consumer Accounts:

Official Checks $4 fee; Gift Cards (visa) avail $25-$500 amounts $nofee; Incoming Wire (domestic & international) Free; Outgoing Wire-dom=$15; Outgoing Wire-int'l=$35; Stop Payment or ACH Revocation per item $25; Savings OverDraft Protection Transfer Fee (per daily transfer)=$5; Returned/Paid Item (NSF, Unavailable, Overdraft of savings or checking), per item=$35 (this fee applies to a max of 5 items per day per account); Cashed or Deposited Item Returned (per item)=$15; Sustained Overdraft Fee will be applied on the 10th consecutive business day of overdraft status=$20; Levy/Legal Order=$125; Safe Deposit Drilling=$150; Safe Deposit Lost Key=$25; Coin counting and Penny Arcade= free; Statements with check copies and/or deposit slips only=$5 each; Statements with check copies and deposit reconstructions=$25 each.

 

The drawbacks: AND THEY'RE BIG!

ValueChecking: no min bal; but each month they charge $3 +0.5 per check after first 8 per statement.

ConvenienceChecking: no min 1st 12 months; then $100 to avoid $15 monthly fee!

StudentChecking: awesome; no min, no fee.

PremierChecking: $2,500 min balance, and $25 fee per month if you dont maintain min bal.

RelationshipChecking: $20,000 combined deposit and/or outstanding loan balance (excludes mortgages) min.; else, $25 fee per month.

Personal Account Agreement states that they may accept, pay or charge to your account any item IN ANY ORDER THEY CHOOSE. This allowed them to process large $ amounts first, followed by ATM and debit card transactions as last. And, if you were short, overdraft fees kick in for each transaction that put you more negative. This was as of 06/2010 agreement.

TD Bank - The Bank Of FEES

When I first opened my account I was told it was a free checking account. I quickly learned that it is "free" unless your balance is under $100 during any point in your statement cycle. I've incurred this $15 fee a few times because I use my TD bank account as an extra account. I have automatic deposit set up which always covers in the event that my balance is under $100 but that does not matter at this institution. Even if your ending balance is over $100, you will get a $15 fee for going under during statement cycle. I also have a shared account with a family member which has a nice balance. When I called to speak with customer service I was told I could change my checking account to one that will only charge $3.99/mo. Are you out of your mind? I will not give 4% of my account to anyone, I'd rather take this account to PNC with my other accounts. I really felt this need to write this review for people who live paycheck to paycheck and would be greatly affected by the $15 fee. My suggestion is to go to your nearest PNC bank and open an account with them. I've had PNC for 4 years and I have never had any issues.

5-Star Health Rating???

Definitely NOT from its customer reviews, that's for damn sure.  Can only be from its bulging coffers overflowing with money from the fees they charge their customers.  TD Bank is a poor shadow of Commerce Bank way back when.  Their policy is to be DEAF, DUMB, and BLIND to their customers' happiness with their service.  As long as they can continue charging and collecting the insane fees, they will be healthy.


 

****AVOID THIS BANK!! IT HAS BECOME THE MOST CONVENIENT BANK FOR ITS OWN PURPOSE - NOT THEIR CUSTOMERS *******

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Health

Data for Q4 2013

A+
TD Bank, National Association consists of multiple companies with separate FDIC numbers. Click on an FDIC number to view the health for that company:

18409 - TD Bank, National Association
33947 - TD Bank USA, National Association

Institution Health

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 TD Bank, National Association had $1.72 billion in non-current loans and owned real-estate with $28.53 billion in equity and loan loss allowances on hand to cover it. This gives TD Bank, National Association a Texas Ratio of 6.02% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for TD Bank, National Association experienced no significant changes from 6.21% as of December 31, 2012 to 6.02% as of December 31, 2013, resulting in a positive change of 3.09%.This indicates that the balance sheet and financial strength for TD Bank, National Association has had no significant changes in recent periods.

Deposit Growth

GRADE:
A+

In the past year, TD Bank, National Association has increased its total deposits by $15.33 billion, resulting in 9.03% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth TD Bank, National Association has shown is excellent.

Capitalization

GRADE:
A+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. TD Bank, National Association has $217.63 billion in assets with $28.53 billion in equity, resulting in a capitalization level of 13.11%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #18409
Year Established1852
Employees25282
Primary RegulatorOCC
Assets and Liabilities
Assets$217.63 billion
Loans$101.38 billion
Deposits$185.12 billion
Equity Capital$27.49 billion
Loan Loss Allowance$1.05 billion
Unbacked Noncurrent Loans$1.51 billion
Real Estate Owned$208.21 million
Historic Data - December 2012
Assets$203.99 billion
Equity Capital$27.98 billion
Loan Loss Allowance$1.04 billion
Unbacked Noncurrent Loans$1.51 billion
Real Estate Owned$213.80 million
Profit Margin - Quarterly
Net Interest Margin2.77%
Return on Assets0.46%
Return on Equity3.48%
Interest Income$5.43 billion
Rates

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Locations

TD Bank, National Association has 1,336 locations. Click to view all TD Bank, National Association locations.