TD Bank Sort of Sucks, Too

Sorry Toronto Dominion. You loose. Until recently, I was a happy TD Bank customer. It turns out that’s because it took a while for TD to apply its way of business on the Commerce Bank culture it inherited when it bought Commerce and decided not to change the name to TD Commerce.

The writing was on the wall when the Commerce’s cheerful blue pens became drab green TD pens. At the end of September the changeover to TD’s computers was completed and the first “glitch” I noticed was that my overdraft protection amount was added to my available balance when I withdrew money from an ATM. They added a $5 fee each time overdraft protection kicked in, and instituted a minimum balance of $150. This may be low by today’s banking standards, but the monthly fee kicks in if you go below it for less than one day. Other banks average your monthly balance. And even though overdraft counts as an available balance on ATM receipts, it doesn’t keep you from being hit with the $15 monthly fee.

OK, so what if I want to open a CD for, say, $500 to keep from going below the minimum balance? Too bad, CDs don’t count toward your balance. You need a combined balance of $25,000 for CDs to count. Even Citibank isn’t this oppressive.

The banking staff at 93rd and Broadway is getting ornery. The tellers question every deposit I make that’s made out to “Sandy”. The branch at 109th Street is worse. The last time I visited 109th Street, it was if nobody was in charge. It feels as if the bank is in a free fall.

TD sucks!

I had a second account at TD which I closed right away to avoid minimum balance charges, and I’m switching back to Citibank for my primary checking. I’ll keep TD as a savings account, but I’ll use it minimally. VERY minimally.