Random Musings

UPDATE-

I am happy to state they TD Bank actually did follow through and fix this. Within two hours of emailing them, they called me back and did the following:

This is in order of importance to me.

1. Sincerely apologized
2. Set up a new account
3. Established a line of credit so that I can buy things and generally just pretend my account is open.
4. Gave me $25 credit as a gift.

I wish other companies responded like this. Well done! TD Bank is back on my recommended list.

I’m keeping the story up anyway, but please remember, they fixed it. And that’s what’s important.
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America’s most convenient bank??

I opened an account with TD Bank, in Cambridge, MA. on Sunday, the 29th of August 2010.

At the time of opening my account (at the branch in Alewife, Cambridge), I was told to give various forms of ID. Since I am an international student, I provided the following:

1. Passport with current US Visa.
2. I-20 Form with my School’s name on it.
3. Address in the US
4. US phone number

I was told by the representative there, that that was it, and that I didn’t need anything else.

I then got funds transferred into my account from my bank in India. I received a few thousand dollars.

Four days after I opened my account, i.e on the 2nd of September 2010, I got a call from the chap who’d opened, who said that he forgot to make me sign a W-8 form, and that I needed to do that.

On the 8th of September, four business days after that call, my account was closed or suspended.

On the 9th of September, five business days after I got the call, I went down to your bank and resigned all the forms. The lady there was very helpful, and she assured me that the account would be reopened by today, and I would have access to all my money. She even gave me a $25 gift card, and generally did a good job (or so it seemed at the time)

This morning, I called the bank to check. I was told now that my account would only be reactivated by Tuesday, the 14th of September.

I called Customer Care. They told me that the account has been closed, and the check has been mailed to me, and would reach me by Tuesday. Hopefully. “It’s in the mail”

She further stated that the bank said that they had been trying to get in touch with me for “over a month”.

Let me state for clarity:

1. I got ONE phone call. No emails, no reminders, no mention that the account would be closed in four days.

2. It was NOT my fault. I am not supposed to know what documents I need to sign. That’s the bank’s job, right? To tell me what to sign?

3. I entered the USA on the 18th of August. I have that date stamped in my passport For the bank to say that they have been trying to get in touch with me for over a month is just a plain and simple lie. They record calls, right? So do I.

4. Why do I get told three different things? What’s true? Or am I supposed to just wait and pray that things work?

I am very disappointed with my experience with TD Bank. Sure, mistakes happen, but for them to unilaterally close my account with NO warning, and leave me stranded with no money, no way to get MY money from them, and generally just say, too bad, nothing we can do about it; that’s just sad.

I don’t want to sound like an jerk. Put yourself in my shoes though, and think about how you’d feel. You’re in a new country, and your bank (America’s most convenient!) closes your account without informing you (despite having your email and your phone), and now you have no money for at least five days, maybe more. And for no fault of yours. Does that sound fair to you? Is this a bank you’d want to do business with?

Well, they’ve lost my business, but I write this so that you guys now what’s what, and to avoid TD Bank like the plague.