TD Bank US Holding Company Bank Account Or Service Complaint

TD Bank US Holding Company Bank account or service department,

Checking account Deposits and withdrawals Pennsylvania

TD Bank has charged an overdraft fee for a situation in which we make a check deposit minus " cash ''. If there is not a balance in your existing checking account ( pre-deposit ) to cover the " cash '' portion that you are taking from your deposit, they charge an overdraft fee. I understand that technically you are taking money off of a check that has not yet cleared so essentially you are taking withdrawal from you checking account but that is NOT explained to you at the time you are standing with the teller making the transaction. You do n't find out until you see the overdraft fee and call the bank to understand where its coming from. The complaint is regarding a deceptive practice. Its fine if the policy is as it is but it should be the teller 's responsibility to tell the customer that they do n't have the money in their checking account to cover the withdrawal so they can either choose to take it against an alternative account that has the funds or they can take a lesser amount so they do not incur the fee, otherwise they will incur the fee. TD Bank does not do that at the point of the transaction which is just a way for them to collect a fee.