TD Bank: Fraudulent checks are unstoppable at America’s most inconvenient bank!

Well, unfortunately I had to end my association with TD Bank due to the fact they simply could not secure my account from fraudulent checks and provided absolutely deplorable customer service along the way. This is an interesting story that anyone with an account at TD Bank should read. You won’t find this on the TD Bank website I can assure you! It all started in late April 2016 when I got called by TD Bank that someone may have accessed my account fraudulently. They instructed me to go to the local branch immediately. Prior to doing this, I logged into my online account and was quite surprised to see two checks that were clearing (or attempting to clear) that were ridiculously fraudulent. I mean, these were not even close to legitimate documents.
Ridiculously bad phony check #1. Can you believe TD Bank would cash this?

Ridiculously bad phony check #1. Can you believe TD Bank would cash this?

Ridiculously bad phony check #2.

Ridiculously bad phony check #2.

 
  • These checks did not in any way match the format of my old checks. These were just random checks reprinted with my account number.
  • The numbering was completely out of sequence both with each other, and my real checks
  • The return address is the Department of Health and Human Services in Nashua NH (not my address by a long shot)
  • The signature is not even close to my signature.
I was a bit surprised that TD Bank would cash such checks, but at any rate, I took the afternoon off and headed down to the bank. When I got there, I talked to someone in a side office who was very nice, but I quickly realized….. had absolutely no clue what to do. So, she had to get on the phone to call other offices (Security department, Fraud Dept.. all kinds of departments!). So, I sat there in her office for literally hours, while she called, waited on hold, called again, got transferred, was asked to print forms she couldn’t find, etc. It took all afternoon. Eventually, I opened up a brand new checking account and transferred my money there. TD did return the stolen money in a few days, but I had to sign some type of fraud affidavit, which was notarized at the bank. This was unfortunate, but things like this happen and I was willing to give TD bank another shot, as surely this was a one-time affair, especially now that TD was alerted to the issue. So, I went home and spent the next few days re-routing all my direct deposits and linked accounts. Another couple hours of my time wasted, so much fun! And I had to pay for all new checks, so more money lost to this event. Then, less than two weeks later TD Bank called again. Guess what! Another fraudulent check had arrived on my brand new account. This one really pissed me off. It was from the exact same return address as the last fraudulent checks, and it wasn’t even signed with my name. Who is “Josh Wilson”?  This really infuriated me! Is anyone at TD bank even looking at these checks? Isn’t there some type of mechanism to eyeball checks on an account that was just compromised?  I mean, how ridiculously fraudulent do these checks have to be before they won’t cash them? Could I just write an account number on a napkin and TD would cash it?
Bad Check 2016_05_11

Even more ridiculously phony check #3. I wonder how bad a check has to be before TD won't cash it. This is ludicrous!

So, anyway, I took another afternoon off and headed down to the bank to spend another afternoon with the TD bank clerk (I got the same one, she must have been thrilled to see me walk in!). So, this time, I supposedly had a case worker assigned. However, after spending nearly an hour on the phone, it turns out we couldn’t figure out who it was. However, my TD bank clerk continued to call around various numbers to figure out what to do. Now, before I opened a third account at TD Bank (which I was instructed to do), I asked “How is this happening and can you stop it?” The clerk parroted this back into the anonymous person on the phone… and after a second, just responded back “They don’t know”. Okay… well, I’m sorry TD Bank. If you are telling me you are unable to prevent people from literally stealing my money, and basically that it is my problem… I need to find another bank. At that point, I asked to withdraw all my money and close my three accounts. They half-heartedly tried to talk me out of it, but even one of the TD bank employees whispered  “I would close my here accounts too”. It would have been funny if it wasn’t my money! Some other person came in and said I had to pay 24 dollars to get three bank checks (one from each account), and he was sorry he couldn’t waive the fee! Man, did this piss me off. You are telling me you are unable to stop people from stealing my money, and you are going to charge me to take it out? I suggested, transferring the money from two accounts to one, so at least I would only be charged 8 dollars for one bank check. The TD employee thought for a moment and said he could do that. I guess I am becoming a better banker than the TD employees by this point! So after I got my bank check, the only remaining problem was the 945 dollars that was stolen. Once again, I filled out another affidavit. I was also instructed to get a police report in order to get my 900 dollars back. I asked where? TD somewhat rudely replied with “the police department”. Thanks, but my question was to I go here in Massachusetts (where the branch is) or in my home (New Hampshire) across state lines. They said, go to your home. Hmmm, well, I questioned if my tiny local PD has jurisdiction. They just replied.. “go there”. Okay, so I took another day off of work to mosey over to my local Police department. As I suspected, they did not want to fill out the report! So once again, TD bank had misdirected me.  However, by chance, there happened to be TD Branch in my town, and they did agree to fill out a report, after I begged them. This report is basically meaningless paperwork as no one is going to investigate a goddamn thing from New Hampshire and I don’t blame them! I gave this police report number to TD bank, and as of this posting.. still don’t have my stolen money and was instructed to (guess what), call some random 800 number . However, I am making good use of the time I am sitting on “hold” by typing up this blog post! At any rate, I have opened up a new account at another bank. This new bank seemed to think that someone had hacked into my TD bank online account and that is how they got my new bank account information. They also explained that they verify the computer used to log in and this should not happen with them (We will see!). Also, I was able to get a higher interest rate too! So in summary, I am not too happy with TD bank over these repeated incidents. It has become apparent to me, that my money being constantly stolen is just a tiny bit of overhead to them and this giant faceless corporation, with impotent local branch personnel have no concern over my time and anguish. So after 6 years of dealing with them, I am calling it a day. Good Luck TD! And to the rest of you… Watch your accounts! At least for me, TD Bank is America's most inconvenient bank!

6 thoughts on “TD Bank: Fraudulent checks are unstoppable at America’s most inconvenient bank!”

  1. Same exact thing happened to me, $3100 was taken by a fraud check, same situation as you. You at least got the money back the first time after few days, I’m still waiting for my money after 10 days. Would yelling at the local branch help?

  2. I have been a victim of depositing a counterfeit US POSTAL MONEY ORDER $992 . TD cleared the check and after they cleared it I withdrew the funds and found out a day later it” didn’t really clear” WTF??? TD charged me $15 on top of it.
    How can a bank clear a check and then unclear it? I filed a police report a week ago when it happened and nobody has contacted me from the postal inspectors office or law enforcement. Does anyone know a “higher up” at TD I can contact? I have envelopes used and have since received more money orders in mail. I know this is a federal crime but does anyone care?

  3. Same thing happened to me but unfortunately I didn’t see the withdrawals within reasonable time because it’s not an account I use daily, this was my emergency funds so TD denied my claim. Maybe we can do a class action?

  4. you all are hilarious. You think someone actually looks at each check that clears a bank account? Only if its cashed IN their branch do they look at it. Then… sure, they’re fault, but they’ll fix it. The fact that someone got your routing and account number… thats on you. No one could afford a bank account if each check was examined before it cleared.lol.

    1. I guess my comments are:

      1) If no one “actually looks at each check”.. why do we bother to fill them out and sign them? Maybe the banks should just give us blank slips with routing numbers
      2) I am not sure how it is “on me” that someone got my routing and account number. I am fairly certain that is on the bottom of every check I hand out… which is handled by god knows how many people each day and is scanned into PDF at dozens of banks. If you actually read my post, you will see I closed the account and it happened again within days. Fairly certain it was not “on me” the second time.
      3) It is amazing that the US Post office (hardly a bastion of speed or innovation) can employee machines to optically read handwritten addresses, but someone this technology seems to escape the banking industry. Since as you state… “No one could afford a bank account if each check was examined before it cleared”, seems like this could be a solution. However, the real reason is that the banking industry probably feels like it is easier to inconvenience customers than to employ real security. I guess I don’t have a problem with their approach provided they were up front with me at the beginning. When I opened my account at TD Bank, it would have been great if they told me “We don’t actually look at any of your checks before we give your money out.. oh and if we make a mistake YOU need to correct it. That would have been helpful.

Leave a Reply

Your email address will not be published. Required fields are marked *