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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 have paid at least $12,000 to $15,000 in NSF fees and Overdraft fees to TD Bank. I tried everything I could think of to get them to understand what they were doing was wrong. They constantly would pay my mortgage 1st allowing 8 to 10 other smaller checks to bounce. I would get hit at least 3 fees for same $25.00 check they’d bounce. I say $15,000 but honestly I believe it to be more than that
In February was account was compromised in an identity theft attempt! They charged me $490 in fees!!! Not only did they do that, but they also have promotions that they change the rules after the fact so that they don’t have to pay you! They are almost as bad as Wells Fargo!!!!
I have lost lots of money in Fees from TD bank after I disputed a charge they honored without proof. Multiple items were numerously deposited and charged. The whole situation put me in a terrible financial situation.
Addd me opened acct added money to savings and checking and kept shutting down debit card for no reason saying security didn’t have acct month it was in plus on both now closed acct been fighting almost yr kept my money
TD bank charged me thousands of dollars in overdraft fees. I had automatic deposit of my hospital paycheck and their fees would take my whole check. I had to go open a new account somewhere else and wait for my paycheck to change where they deposited it. It was an absolute nightmare for weeks and weeks. I can not believe they are still doing this to others.
I have over 30k in overdrafts fees … over the 3-4 years
Add me. Seriously, I just had this conversation with my family about closing my account with TD after 15 something years. Tomorrow it’s happening. JUST last week, I submitted a dispute claim for a bunch of unauthorized charges last week. Totaling about $2945 with about +$1000 in overdraft fees alone. I let them know that these unauthorized charges put me in the negative and in just short of 2-3 days, it was entirely denied. They didn’t call me or “investigate” as they say they do. Their reasoning for denying my disputes – “because you logged into your mobile account and saw your balance, you should have kept a closer eye to the amount listed.” Excuse me. Do you know how many times I charge a card? Way way way too many to notice any unauthorized charge every 50-60 line items. So not only did I lose on all these unauthorized charges, I also lost a significant amount in OD any ridiculous fees. At the desk, I explicitly told them I want overdraft protection. They simply said no and that I can download the “TD Bank alerts” app and go from there.
Please add me they owe me over 5000
Please add me. I am so done with TD bank. They go out of their way to process my deposits slowly, and charge fees for withdraws that come in on the same day, and then process the deposits last. I have called multiple times, and they limit how many of these fake charges they will be willing to “reverse”. I’m going to move my accounts elsewhere. They probably owe me hundreds or thousands by now.
Oh please, TD bank has gotten very sneaky w OD -a bill will come in say 2am- I have gone to deposit cash/checks to cover-stealing my money!!