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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 Customer Service Complaints

Nasty employees are usually just nasty dispositioned people, you come across them everywhere and you don't have to tolerate them. If you approached them with a reasonable attitude and they treated you disrespectfully you need to report them.  Start with a complaint to the local manager to give them a chance to fix their problem at a local level and if that doesn't help escalate it to the corporate level. It sometimes takes some searching to find the corporate complaint department contact info but make the effort to find it and make the call or write the letter. No company wants an employee that is alienating their customers and at the corporate level they're not going to be swayed by friendship with the problem person, if that person is out of line they will correct the issue.  I was at first not so thrilled with TD Bank when they acquired my bank of 15 years because I lost my free checking and all the free services I had because they chose a generic account for all the customers when they acquired them.  I went into the bank and talked to them and they found a different account type that was closer to what I'd had before. I still have to maintain the $100 balance to avoid service charges and I mostly am able to do that but if it drops below $100 and I get charged a fee, that's really my fault, not theirs so I can't get upset with them if it happens. You have to do some research to find the bank that offers the convenience and services you need at an affordable price for you and you need to read that paperwork you get so you know what your terms and conditions are so you're not surprised by unexpected fees.

Worst Customer Service Ever.

I have been banking with this bank for 30 years they don't value long time customers. No customer service and not interested in helping fix problems. I will be closing my account there in the near future.

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Health

Data for Q1 2014

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 capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 TD Bank, National Association had $1.68 billion in non-current loans and owned real-estate with $29.23 billion in equity and loan loss allowances on hand to cover it. This gives TD Bank, National Association a Texas Ratio of 5.74% 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 6.19% as of March 31, 2013 to 5.74% as of March 31, 2014, resulting in a positive change of 7.32%.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 $13.86 billion, resulting in 7.98% 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 $220.86 billion in assets with $29.23 billion in equity, resulting in a capitalization level of 13.24%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #18409
Year Established1852
Employees24966
Primary RegulatorOCC
Assets and Liabilities
Assets$220.86 billion
Loans$101.75 billion
Deposits$187.56 billion
Equity Capital$28.18 billion
Loan Loss Allowance$1.05 billion
Unbacked Noncurrent Loans$1.49 billion
Real Estate Owned$188.13 million
Historic Data - March 2013
Assets$207.95 billion
Equity Capital$28.08 billion
Loan Loss Allowance$998.00 million
Unbacked Noncurrent Loans$1.49 billion
Real Estate Owned$205.27 million
Profit Margin - Quarterly
Return on Assets0.53%
Return on Equity4.17%
Interest Income$1.31 billion
Rates

Sorry, we do not have rate data for TD Bank, National Association

Locations

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