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A Florida woman claims that TD Bank unfairly charges her and other customers overdraft and nonsufficient fund (NSF) fees resulting in charges of $70 or more on single transactions.
Lead plaintiff, Jill Abercrombie, wants to represent other TD Bank customers who she says were hit with excessive charges by the financial institution. Originally filed in Florida state court and removed to federal court Tuesday, the class action lawsuit accuses TD Bank of hiding this practice from customers in order to generate excessive NSF and overdraft fees.
Abercrombie says that in February she accidently overdrew her TD Bank account by attempting to make a one-time $100 transfer to Capital One. As a result, she says TD Bank rightfully charged her an NSF fee of $35; however, she claims the bank continued to attempt to process the transaction, this time hitting her with a $35 overdraft fee. In total, Abercrombie says she paid $70 in fees to process a single $100 transaction.
TD Bank could have started with the overdraft fee and paid the transaction, points out the plaintiff who contends that the single $35 fee is the one laid out in her account contract.
“The Account Documents explicitly promise that a single OD or NSF Fee will be assessed per ‘item’—defined as a customer request for payment or transfer—when in fact TD Bank regularly charges two or more fee per item,” alleges the class action lawsuit.
The plaintiff argues that each transaction should be considered a single item which, under the terms of TD Bank’s account documents, can only be assessed a single overdraft or NSF fee. She says that she and other reasonable TD Bank account holders would understand that they would not be charged multiple NSF and overdraft fees on a single transaction.
In fact, in April, TD Bank updated the terms of its account documents to expand the definition of “items” to include resubmitted transactions, such as in Abercrombie’s case, points out the class action lawsuit.
The practice of initially rejecting transactions and then accepting them to maximize NSF and overdraft fees unfairly penalizes customers says Abercrombie, noting that most account holders do not have the time and energy to negotiate with TD Bank.
The plaintiff wants to represent a nationwide Class of TD Bank checking account holders who were assessed NSF and overdraft fees on the same item prior to April 1, 2021. Abercrombie wants TD Bank to reimburse customers for the overdraft fees it unfairly assessed.
Have you paid TD Bank overdraft and NSF fees on a single transaction? We want to hear from you! Tell us about your experience in the comment section below!
The plaintiff is represented by Jeff Ostrow and Jonathan M. Streisfeld of Kopelowitz Ostrow PA, and Lynn Troops of Cohen & Malad, LLP.
The TD Bank Overdraft Fees Class Action Lawsuit is Abercrombie v. TD Bank, N.A., Case No. 0:21-cv-61376-JEM in the U.S. District Court for the Southern District of Florida.
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23 thoughts onTD Bank Double Dipped on NSF, Overdraft Fees, Alleges Class Action Lawsuit
I kept getting NSF fees from TD Bank because they say the time of the transaction matters once I realized I made a mistake purchasing with my debit card then realized I might have overdrawn my checking account by $30 so within the hour I made a cash deposit of $100 but still was charged because the purchase came before the deposit but by the end of the day I had the money to cover the purchase. I was told it’s all in the order purchases and deposits are made. Now I have a checking account with them that I don’t get charged NSF but I can’t write checks either my checks are obsolete however this account will do meanwhile because now I’m looking for a new bank
Please add me
Add me please to the TD Bank class action lawsuit.
I get charged multiple OD fees even if only one transaction over draws the account. That’s not right.
I have been experiencing this exact issue every month for years. TD resubmits the same item 3 times within 3 days for a collective $95 in fees before canceling it. I am paying on average over $400 a month because of this! please sign me up- I’ll even opt in to be a co-defendant and can provide all necessary statements and records for a decade.!
Please add me to TD Bank as well. I contacted them numerous times to turn off overdraft on my account so that my card would just be declined if I didn’t have funds. I’ve paid over $250 in NSF fees dues to my child making micro purchases on mobile apps when TD Bank refused to turn off my overdraft capabilities.
Add me to TD Bank
Please add me in TD Bank charged me consecutive $35 on my purchases totaling $230. I didn’t realize I was short $2 on my purchase another time I was short $5 and they kept adding interest to the amounts
Add me tdk bank
Add me TD BANK
HAD 1 account year later 3 separate accounts in my name
Add me I closed an account with TD bank because of the fees