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Wow...way to lose a 6 figure customer...
2 replies
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@Smashville_is a statue of limitations: Probably more than six figures, given that the OP had $100,000 in just one of SIX accounts...
Wow...way to lose a 6 figure customer...
@Smashville_is a statue of limitations: Probably more than six figures, given that the OP had $100,000 in just one of SIX accounts...
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This is why I moved all of my money OUT of my TD Bank Savings account last week. Aside from their NON-EXISTENT interest rate, I don't trust them anymore.
I'm still searching for the best bank to open a checking account with...preferably one with several branches in New Jersey. Any suggestions?
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@DaBull: What part of New Jersey? If it's near the shore, my boyfriend has Ocean First and has nothing but wonderful things to say about them. They reimburse for outside ATM fees so it may even be worth it if you're not near the shore.
@sammy_b: I'm in North Jersey, but I also have a home down the shore and have seen some Ocean First branches. It would be a little inconvenient to have to drive down there for check deposits however.
@DaBull: I just shopped around for banks. Based on the banks close to me, I ended up with Chase for B&M Bank. Picked Schwab for online bank. At Schwab the interest rates were a little lower than HSBC but the overall features were better with Schwab (paper checks, unlimited ATM fee refunds). I picked Chase only because I get benefits b/c my mortgage and credit card are with them. Otherwise, I would have gone elsewhere.
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@DaBull: Get USAA online: [consumerist.com]
Or find a credit union. I've left banks forever for credit unions. My checking account is free and pays 1.5% interest. Free line of credit w/ no overdraft fee and 5% interest rate. Refunded ATM fees, local branches, low interest credit card (with rates that didn't skyrocket) with rewards and perks. I love my CU.
@DaBull: Go for a credit union, if you are eligible to join one. Their interest rates are about the same as a bank, but their loan rates are usually better.
@DaBull: EDIT: Their interest rate was actually 0.1%, so technically it DOES exist...but it pales in comparison to the 1.35% I'm currently earning with my money in an HSBC online savings account.
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yeah.. I'd take my accounts elsewhere as well.
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I used to love TD Bank, when it was Commerce.
Does anyone have any suggestions for a good, customer friendly bank? Please don't say credit union, the closest branch is too far for day to day banking.
@mergatroy6: ive posted on consumerist and many other blogs / forums about how much i used to love commerce, and how awesome of a bank they were. just last night i was telling a customer of mine about this. td / commerce USED to post pending transaction information right away - so if i was close to $0 balance i could transfer $$. yesterday i noticed $175 in overdraft fees - when we called, they could not quite explain it, other than their accounting has changed. from my online account page, it looked like there was a -$1.50 on the same day i transferred $$ into the acct. old commerce accounting let me transfer $$ same day to cover it - no more. I AM changing banks now - we have a checking, savings and 2 biz accounts.
such a shame. All they could says was, \"well, we still dont charge for ATM fees!!\"
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@bobloblawsblog: I loved Commerce back when I lived in NJ in the mid 1990s. They seemed to be the first real-life customer focused bank.
RIP Commerce Bank.
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@mergatroy6: The only suggestion I could give is the small bank I use which is headquartered in the small town I live in. Let me know if you move to a small town and we can see if you have a small bank there.
Most banks in small towns are within driving distance.
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If this guy can't get good service with a $100k deposit, then I can't imagine there's any hope for anyone to get good service from any bank anymore.
One day, a bank is going to realize that they can make money by acting human. That bank will probably grow very large, turn into an earnings machine, and then completely forget about the whole \"being human\" thing in an attempt to satisfy greedy, heartless shareholders and inflate their bottom line.
Think: Geek Squad and Circuit City.
But one can hope, can't they?
@mergatroy6: If you're in the Northeast, I switched most everything from BoA to Sovereign and the people who work at my local branch are always pleasant and accommodating. However, I'm sure everybody has some horror story about every bank.
@wcnghj is right though, I worked as a teller at a small town local bank in college and compared to national banks, their customer service policies were top notch. Maybe a locally owned bank or credit union is an option?
@mergatroy6: Is this a US thing? I can only remember TD suddenly taking over Canada Trust years back.
@mergatroy6: Do you need to do banking in-branch?
A national credit union like PenFed might do. You can deposit checks online, etc.
I just tried to take advantage of Citizens Promotion for $100 to move... It expired on the 9th of October. Anyone know of any other promotions? That $100 is needed to buy checks and for the pain of simply changing everything over!
@pmcpa4: What the hell kind of crappy banks are you dealing with that don't give you a free box of checks when you open an account? Is that not standard everywhere? I've never opened a checking account that charged for checks...
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@wcnghj: You can't use Online Bill Pay all the time. There are still places where presenting a physical paper check is the most appropriate.
Haha a vector request. You should have never EVER heard that come from her mouth. Vector is a system banks use to monitor money movement internally between ledger accounts and such. It's the system that has data about money movement before your bank account does. Bank Jargon should never be forced on the public :/
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@trashbaby: So, the rep slips and we learn some of that infernal parseltongue that is Banking Lingo that we can use to our advantage when we get, in technical terms, f'd in the a.
@Applekid: Nah, you still don't know enough to do anything worthwhile with it. I'd be amused to discover what the reaction is if you tell your bank \"Check Vector\" for something...most of the frontline CSRs won't even know what that is. It's an internal process that only the poor trolls in the dungeon really deal with.
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\"Vector Request\" has a cool ring to it. Prettymuch underscores the fact that the banks consider their customers to be no more than an invertebrate arthropod that transmits a pathogen from reservoir to host.
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@MostlyHarmless: Love the \"Vector Request.\" I have to work that in somehow, with a very obnoxious tone. ;-)
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Commerce was great, now that it's TD I haven't had any problems with them. I've kept accounts there even though I've moved and there are no branches within a 5 hour drive from me.
Yikes, now I'm concerned.
@nsv: Commerce is great, if you can live with yourself knowing that the employees there are treated as bad as employees can be treated.
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It's funny how swiftly a bank reacts when you tell them you are going to file a police report for embezzlement of your funds.
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@Ephraim: I was just thinking it's shameful that the OP had to threaten police action to get the bank to do something about $100,000.
Should have taken the gift cards. Any promotion offered by a bank to open accounts, when it gets credited, is treated as an interest payment and is reported to the IRS as such. Therefore it would have have to be reported as interest income on your tax return. Though it may not matter too much for some folks.
I don't think you have to do the same thing with gift cards.
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So the money was in purgatory? Any bank that can't tell where you money is immediately when you ask is no bank, they are a joke. Yes, I agree, he should have taken the cards and anything else he could get and closed his accounts.
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Who's the regulating body for TD Bank? I would think Zach, fine upstanding citizen that he is, would want to ensure that whatever place it is is informed of this.
I'm surprised that someone who has at least six accounts, one of them being a $100,000 CD is *just now* learning that he needs to keep records of his transactions.
After last year, who would trust their money in ANY of the huge mega banks?
Support someone local to you. They're more likely to give a damn.
@HeyApples: You're supporting a local bank today, but question is: How long will your \"local\" bank remain \"local\"?
Commerce Bank WAS local (New Jersey, Pennsylvania, New York and Florida - most branches were organically opened rather than through acquisitions). Just too bad that TD made a mess of things despite their good intentions.
@azntg: That's the terrible part... Commerce was great, and when the TD takeover began it still wasn't bad.
Now we see that they're not taking the appropriate steps to properly transition their computer systems, as well as changing overdraft policies and such. Not that I've ever overdrawn my account, but the fact that they're implementing the \"largest transaction first\" policy bothers me in principle.
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@HeyApples: If it's FDIC insured, why should I care? All of my accounts are with major banks and I've never had a problem in the many years I've been with them.
@HeyApples: I thought the same way and signed up at a local branch. Two months later and I still didn't have web access to any of my accounts. Nice job, Gold Canyon Bank!
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I'm a big fan of the bank \"Hole in my Backyard Savings and Loan, Inc.\"
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Keep all receipts, bills, invoices, monthly statements; any financial record to show you paid or received what you were supposed to. It makes it easier for you when preparing taxes, or, as in this case, you need to prove something.
I have every ATM receipt, store receipt, phone bill, credit card bill, etc.... going back ten years. (Strangely Collyer-like, I know, but....)
Saving everything makes it very easy for my accountant to prepare my taxes.
But more importantly, it helps me defend myself in disputes. One small but easy example: one month a charge shows up on my credit card bill for some charge I don't recognize. I began to dispute it, but after going back A WHOLE YEAR in my records, I found a receipt for something I purchased. Somehow the transaction got lost in the companies computers somewhere and it popped back out again a year later. Of course, I canceled the dispute and paid. But I never would have remembered without detailed financial archiving.
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Should have gone with the gift card and left anyways. Zach would have at least come up with a little bit of cash for the time spent running around. Although with 100,000 I guess he's doing alright for himself.
/poorcollegestudent