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TD Bank faces a proposed class action lawsuit in Florida over claims that its Penny Arcades, which are the coin-counting machines the bank provides for both customers and non-customers, are inaccurate and cause users to lose out on the full value of their money.
According to the complaint, which brings forth claims of unfair trade practices and breach of contract, Penny Arcades weren’t originally meant to be used for commercial coin counting. Initially, they were intended to be used by children to give them an incentive to count their change and save their money. The lawsuit states that despite the machine’s original purpose, Penny Arcades are represented as a reliable method of coin counting by TD Bank.
“TD Bank’s practice of offering the Penny Arcade as an accurate coin-counting service is deceptive because a reasonable person would likely be misled into believing that the machines correctly count coins,“ the complaint says. “Moreover, TD Bank failed to disclose material information concerning the Penny Arcades, which they knew at the time of consumers’ use. TD Bank withheld the fact that the Penny Arcades were malfunctioning.”
Penny Arcades are coin-counting machines designed and used exclusively by TD Bank as a service that is available to both customers and non-customers of the bank, however there is an eight percent usage fee for non-customers. Users simply drop their coins into the Penny Arcade and take the receipt to a teller for cash or a deposit into a TD Bank account.
Despite, TD Bank’s claim that it tests Penny Arcades at least two times a day, NBC’s Today Show aired a segment on Apr. 6, 2016, on coin-counting machine accuracy, which revealed that four Penny Arcades in the New York City area were tested and there were shortages at every machine, up to 15 percent.
TD Bank reportedly took its Penny Arcades out of service the day before the segment aired so it could test its methodology and increase the machines’ accuracy.
TD Bank said in a statement earlier this week that the machines will be brought back into service once the bank is satisfied that they meet performance requirements. The bank also said it will be enhancing routine maintenance and testing.
“We are disappointed with the experience that the ‘Today’ show had with our Penny Arcade coin-counting machines,” the bank said. “At TD Bank, we place a premium on the integrity of these machines, and that’s why we clean and test them twice daily to confirm accuracy.”
Plaintiff Juan Carlos Macias, a Florida resident, filed the class action lawsuit after he allegedly used TD Bank’s Penny Arcade last month in Miami and was shortchanged.
Macias brought the action on behalf of a nationwide customer Class who used TD Bank’s Penny Arcade coin-counting services as a customers of TD Bank anytime during the last four years, as well as a Florida subclass. According to the complaint, while the exact number of Class Members cannot be ascertained, it is estimated that tens of thousands of TD customers nationwide were affected by the allegedly defective machines.
The plaintiff is suing TD Bank on multiple counts including Violation of Florida’s Deceptive & Unfair Trade Practices Act, unjust enrichment, and breach of implied-in-fact contract.
The proposed class action seeks compensatory, actual and other damages; attorneys’ fees and costs and prejudgment and post-judgment interest.
Macias is represented by Michael E. Criden, Kevin B. Love and Lindsey C. Grossman of Criden & Love PA, and Alexander Angueira of Alexander Angueira PLLC.
The TD Bank Penny Arcades Class Action Lawsuit is Juan Carlos Macias, et al. v. TD Bank NA, Case No. 1:16-cv-21298, in the U.S. District Court for the Southern District of Florida.
UPDATE: The TD Bank Penny Arcade class action settlement is now open. Click here to file a claim.
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25 thoughts onTD Bank Class Action Says Coin-Counting Machines Defective
I got shortchanged over 60$ at the Vineland NJ Branch last summer/ put in a complaint was told to wait till the end of the week when they emptied the machine. I was then told I would get a call back which I didn’t but I called them and was told the machine was correct. I was so pissed. I am not a TD customer and. Never will be!
I always counted my change before going to coinstar or RD bank to turn it into cash. At RD bank you have the option to guess your amount to win a prize. Knowing my amount, I would enter it into the computer, yet only once out of hundreds of times going I actually got a prize for being within the dollar limit with my guess. It wasn’t a guess, I already knew my amount but always got ripped off!!! Please tell me how to join this lawsuit! My family’s was homeless, truly counting on the change we saved to make a difference in our day sometimes, and even after talking to managers about being ripped off, never received the correct amount. I will get on stand under other and swear on my word in Gods name that I lost a lot of money in both RD bank and coinstar locations across NJ and Pennsylvania! Please, inform me on how to get my fair share.
do you know how to join this suit?
Ditto Ridgewood NJ branch
i was always shorted money in penny arcade. so how od i join the lawsuit?? Gail
I use to bring half dollar coins and I would put $50 worth in the penny arcade and the receipt would say only $47 or 48 etc. The manager opened the machine and the coins were stuck in the machine. If I had not asked or she would not have been willing to check, I would have been ripped off.
its true tuckerton machine always short
i use in tuckerton nj a lot wife told me we were being short changed
I used one of the machines in NJ a few days before they shut them down. I actually came out $.38 ahead + several foreign coins that I had not inserted were returned to me. Being the cynic that I am, I do pre-count the change before I use these machines. The only time that I was shorted more than a few pennies was a time that I included 3 large-sized silver dollars. TDs machines are unable to process the large coins, nor can they send them through the rejection chute. My receipt listed zero dollar coins so I made them open the machine up & they were sitting on a shelf inside the machine with assorted other coins. They did give me all of the change inside (obviously from some poor soul who got shorted before me). If you have ever watched one of these machines running with the front panel off, it is not a delicate process and is easy to see why some mistakes do occur. Coins are being flung about as they are manually sorted. I have to believe that routine 10% discrepancies would have prompted a rush of complaints long before this. Several banks are permanently removing the machines. Coinstar machines, as one would expect, are exactly as (in)efficient despite charging an 11% vig.
LAST YEAR I WENT TO PNC BANK WITH OVER 500.00 WORTH OF COINS AT LEAST 4 DIFFERENT TIMES AND I KNOW VERY WELL THAT I WAS SHORT CHANGED 50-60.00 EA. TIME!. THERE WAS NOTHING I COULD DO ABOUT IT!
I had deposited $77 in rolled coins into the machine (quarters, dimes, nickels) because the tellers say that they do not accept any coins over the counter and the machine must be used. I ended up with a receipt for just over $66. I was not charged the 8% service fee since I am an account holder and I was still shorted almost $11. I told the employee and she said that the coins will be recounted when transferred to the wrapping facility and any extra change will be used to compensate the discrepancy. I never received my money and even after placing phone calls to headquarters I never received a response. I can not even imagine the tens of millions of dollars TD has stolen from customers over the years since ever coin that enters the bank must pass through one of these machines. BTW this was in NJ.
Had same shit happen to me at TD bank in Central Nj. But it was shorted almost $100 on over $500 in coins. I argued with the bank that day, via phone etc so many times and was told the same thing.they would check for overages and change that got caught up in the machine. This was several years ago. Nothing ever came of it and I was furious and upset bc I was saving for so long to fill my big jar. I counted the money numerous times during the course of collecting for vacation money and I know it was up over $500 and they wound up only giving me about $400.