TD Loans 1100 - WTF ???

[mazdilla]

OK, if my recent posts have been a little edgey and testy, let me clue you in why.

I recently cashed in a 25 year and subsequently flipped to a 10 year investment (total 35 years). The result was that I paid off my house, all credit cards, and my Mazda. Applause accepted. Life is good.

Last Saturday, March 26, I walked down to the TD bank (from my CIBC) and paid off my Mazda = $9446.67 with a bank draft. Debt closed, paper in hand that says so.

Done.

On Tuesday, March 29, the f*****g boneheads at TD arbitrarily debited my account for another 'pre-authorized' '$9844.67'. I freaked. How is that possible, since my loan payment was only $122.57 bi-weekly?

Since its a small town, and everybody knows everybody, the TD staff runs a cheque down the road to cover it. The typed portion of the cheque is marked $9844.67, but the clerk hand-written section is filled in as $9844.37, which makes the cheque null and void. I have now been charged with $42.50 NSF + $14.28 interest + $5.00 overdraft charge.
Paul, the manager of the local TD apologizes and promises to cover the charges and assures that this mistake will not re-occur. My loan is closed. Charges will be taken care of. Sorry, Sir. It's all good, since the TD Bank will cover it.

It gets better. I go to the bank today to give my roomie the $1000 that I have been holding for him and another $500 for a purchase/pick up in the GTA. I find that I have no money.

The f*ckin TD Loans system reposted another $9844.67 on April 1st, repeating the same bonehead move that they said would not re-occur.

I have no money this weekend, but I have whiskey and beer.

I'm contemplating a lawsuit, but my 840 CR would suffer. You can't sue a bank.

The TD Bank has two entities. Their branch system and their dealer loans system (Branch 1100 - no phone #). They do not talk to each other, nor are system linked. The left hand is not linked to the right hand.

Have a good weekend. Mine is facked!

BTW: I have my 4 wheeler payment comig out on the 2nd, and my 4 wheeler ins, coming out on the 3rd. I now have to deal with the Laurentian Bank and the cold-hearted TD Meloche Monnex Ins. Let the games begin.


I am really pissed.

[DumpInfo]

Holy shit you left me speechless! You paid off everything!! (congrats btw) I can't believe they f*** you over twice! Not sure how your schedule is but why didn't you goto the bank first thing in the morning (today - Saturday)?? After all this is done and what not have you considered thinking of moving your business to someone else? I feel bad for you that's just plain ole stupid and makes you wonder what kinda retards are working behind the teller.

[KVS17]

Damn sorry to hear that. I dont think you have to worry about your payments coming out on the 2nd and 3rd though, even if you have no money you'll just go into the negatives and the payments will still go through. Pretty sure youre covered up to a certain amount. As for TD screwing up again thats messed up, just go back when they are open and get everything fixed again and maybe consider a new branch?

[thegoodstink]

I have no money as well...Different reasons, but none the less. Enjoy your whiskey and beer, as I am as well. F*ckin' banks....Cheers mate!!

[Thrizzl3]

wow Marc i deal with TD but not with any kind of loans...but this is some ****ed up shit.

[PearlM3]

Damn sorry to hear that. I dont think you have to worry about your payments coming out on the 2nd and 3rd though, even if you have no money you'll just go into the negatives and the payments will still go through. Pretty sure youre covered up to a certain amount. As for TD screwing up again thats messed up, just go back when they are open and get everything fixed again and maybe consider a new branch?

Thats only if you have overdraft my friend, and most people don't hve 10 000 worth of it lol. Make sure to call up both the bank that has your 4 wheeler loan and your insurance company. If you let them know ahead of time that your bank screwed up and that there is no money there then there should be no problem when they don't go through. I've had to do that before because of bank errors. As well if you talk to the bank, they should be able to extend you some credit on the account to cover the payments that are coming out.

[dadinho_nfg]

couldnt help but notice the mistakes and errors with this loan. im a financial advisor for td and it sees as though someone deposited the draft into the gl, when the draft bounced, they came to debit your account. in doing so, they didnt close off the loan...seems its an essay fix.
as for overdraft, the max u can get is 5000 on a personal account....

cheers mate

[Skip]

I work for TD as well, and it seems whoever did the payment for you did not clear your bank account info for the lump sump payment. So basically when he/she processed it..instead of clearing your bank info and having it debit an internal account where your draft went...a request was sent to debit your account for that amount at CIBC. When that payment bounced..it looks like the system tried again :s. Sorry to hear about all the troubles...but congrats on paying off all that debt! BTW BR#1100 is an internal branch for loans, and any branch should be looking after your loan payments.

[mazdilla]

couldnt help but notice the mistakes and errors with this loan. im a financial advisor for td and it sees as though someone deposited the draft into the gl, when the draft bounced, they came to debit your account. in doing so, they didnt close off the loan...seems its an essay fix.
as for overdraft, the max u can get is 5000 on a personal account....

cheers mate

What's a GL ?



I did go to the TD branch immediately on Saturday when I discovered the screw up. The problem is that TD Br 1100 is closed on Saturday, as well as my CIBC branch, so nothing can be fixed 'til Monday morning. They did give me another draft for $9844.67, which I ran down to the CIBC deposit machine. The machine is a separate entity from the branch, so that draft will be on its merry way to Toronto, while my account is all locked up. The TD branch is to phone the CIBC branch Monday morning and ask them to unlock my account.

I do have overdraft protection, but that doesn't help me this weekend. I do have a line of credit, so I took out the $1000 (daily limit withdrawal) that I needed for my roomie, and a $500 cash advance on my CC (that I just paid off!).

Good grief!



I work for TD as well, and it seems whoever did the payment for you did not clear your bank account info for the lump sump payment. So basically when he/she processed it..instead of clearing your bank info and having it debit an internal account where your draft went...a request was sent to debit your account for that amount at CIBC. When that payment bounced..it looks like the system tried again :s. Sorry to hear about all the troubles...but congrats on paying off all that debt! BTW BR#1100 is an internal branch for loans, and any branch should be looking after your loan payments.

That is probably what happened, but to have it happen twice in one week, even after it was supposed to be rectified on Tuesday, is inexcusable. It's gonna be one big cluster f*ck on Monday when the three banks (my CIBC, the TD Branch, & TD Loans 1100) have a chat.

[prinsesa]

Oh god, thats some horrible luck =/ I hope everything gets fixed.
I'll need someone to hold me back before freaking out on every manager I see when I go into the bank Monday morning.

[Default User]

That's why TD is now open on Sundays...to **** pol over 7 days a week and not just 6

[Jeff-TheBiz]

Time to switch banks..

BNS did a similar move on me about 10 yrs ago..

took 2 car payments out on the same day, causing arent cheque to bounce..

I have had a bank account at every bank at some point in my life..

Currently PC all the way except my Mortgage which is with a private bank.

[mazdilla]

All is good now. The TD bank covered all the fees. It cost them $104.78

It cost me a few nights sleep and one fack of a hangover on Sunday.

I think I'll bill them for the whiskey and beer.

BTW, for those who are telling me to change banks, it's not my bank that is screwing around (CIBC), but it's the TD Loans 1100 that keeps passing the blame onto the TD Branch down the street from my CIBC.

[mazda_gurl]

BTW BR#1100 is an internal branch for loans, and any branch should be looking after your loan payments.

I work for TD as well and was going to point this out. Branch 1100 isnt a "branch" per say but an internal processing branch.

Sorry to hear they effed up, but the reason I like TD as much as I do is because they will fix their mistakes without hassle.

We are all humans and have our mix ups. Its how you react to these that makes you different.

And a GL is a "General Ledger"

[Krazy]

wow 3 ppl here work at TD?

anyone familiar with student line of credit for professional students?

I need a loan for my sis T_T

Sorry to hear the trouble.. mazdilla.
glad to hear it's solved!

[mazdilla]

I work for TD as well and was going to point this out. Branch 1100 isnt a "branch" per say but an internal processing branch.

Sorry to hear they effed up, but the reason I like TD as much as I do is because they will fix their mistakes without hassle.

We are all humans and have our mix ups. Its how you react to these that makes you different.

And a GL is a "General Ledger"

I'm with ya on that one. It wasn't the tellers fault, because she wasn't trained properly on how to handle this. I know, becasue her bosses were not trained to train her, because she followed their instructions. Hence, the bosses at the branch were not trained on how to train the trainee.

The problem must be in the fact that the TD Bank is not prepared for someone who will actually pay off the loan three years in advance of maturity.

Banking book-keeping systems are designed/programmed to have fail safe systems that are intended to gouge us until the bitter end. You can have a payment come out at midnight (which is technically 00:00:01 hour), and if you deposit at 2 in afternoon (which is 14:00 hours and well before the end of the banking day - 3 or 5 pm depending on the bank); you're screwed. Period.

... pssssssssssssssssssssssssssssssd

... and can't do anything about it.

[mazdilla]

Guess what?

Friday, April 8th, the TD Loans system took another regular car payment of $122.17 out of my account. The loan is supposed to be closed.

... this was done immediately after I went to the branch on my way home from work and was assured that all is resloved.

I just don't get it. :bang

[mazdilla]

couldnt help but notice the mistakes and errors with this loan. im a financial advisor for td and it sees as though someone deposited the draft into the gl, when the draft bounced, they came to debit your account. in doing so, they didnt close off the loan...seems its an essay fix.
as for overdraft, the max u can get is 5000 on a personal account....

cheers mate

My original draft never bounced. It was a certified bank draft.

[laksman91]

edit; woops

[mazdilla]

edit; woops


Got the original un-edited message on my Android anyway. Don't worry. I've been to the TD branch 4 times now.

I've put a stop payment on anything and everything from TD.

[laksman91]

Got the original un-edited message on my Android anyway. Don't worry. I've been to the TD branch 4 times now.

I've put a stop payment on anything and everything from TD.

Sounds like a mess. Time to make a trip to the big city maybe they got people that can get the job done

[crystal8484]

wow 3 ppl here work at TD?


Make that 4... but I'm not in a branch...

[gallipd001]

make that 5 - I'm also at the branch level.

[Krazy]

make that 5 - I'm also at the branch level.

anyone deal with line of credits? :o
also.. just a quick question.. how many months do you need to work at a job before you can use it in loan applicatoins? is it 8 months? 1 year?

[mazda_gurl]

Im not branch either - Downtown offices here!


anyone deal with line of credits? :o
also.. just a quick question.. how many months do you need to work at a job before you can use it in loan applicatoins? is it 8 months? 1 year?

It all depends on your credit history and job history. If this job was 8 months but your job prior to this was 5 years (as an example), you might not have an issue if you have a good credit score and a history with the lending bank.

If you have a low bureau score, minimal assets and new job, you might not get the loan you are looking for - but that also depends on the amount you are asking for, and the purpose of the loan.

I used to work in credit but have since moved on. I also used to decline many apps :p

[crystal8484]

Im not branch either - Downtown offices here!
I used to work in credit but have since moved on. I also used to decline many apps :p

HHAHAHA I'm the one who gets those declines flipped! Pretty sweet though if you're in the tower, I'm up at Concorde Place.

[mazda_gurl]

Ya - Im down in the TD Tower now - AMEN! I used to be out in Markham and it SUCKED!!!!!

[Krazy]

Ya - Im down in the TD Tower now - AMEN! I used to be out in Markham and it SUCKED!!!!!

why you gotta diss my markham...
i miss downtown too :( but if i worked dt.. i wouldn't drive my 3 to work :P

[mazda_gurl]

I do miss driving to work but I dont miss that building! Food sucks and if you dont have reserved parking, you lose your spot when you head out to grab some lunch LOL.

I used to have reserved to avoid that issue, but people from ebank kept taking my spot when they came in for the noon shift. Was so annoying

[mazdilla]

I shoulda titled this thread:

CALLING ALL TD EMPLOYEES TO THE WATER COOLER - WHAT'S YOUR BEEF?

... but I didn't.

Just to let you all know, that after about three weeks of effing around, it's all settled.

Yesterday, I went down to the branch and gave them back the money that they had given me back because they had taken my first payout and then subsequently tried to take two more payouts and didn't want one of the two not to bounce, but it did anyway and cost them $85, and then tried to withdraw a regular car payment, all after the initial payout.

I had to put a blanket 'stop payment' on all TD 1100 withdrawals to actually get their attention. I saved them some money.

This being my fifth visit to the branch, the assistant manager tried to show me an adjusted payout that would include accrued interest from last March.

I showed them Grade 5 math. I kept it backdated to March. I was credited with the last car payment, and all other charges, including those debited at my banking institution.

[dadinho_nfg]

ive been at branch level now for about 3 years...
im looking at getting into the risk management or quality control at td with my schooling in stats....
any of the people working at td towers working in these departments or something similar?
would really appreciate some info
cheers and happy friday

[cwp_sedan]

Awesome! Can I lock this then? Please?

[bluemazda3]

damn TD bank screwed up on my gf's account all the time.. taking payment 2 or 3 times in a month.. this happened like 4 times in 1 year.. headaches