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TD Bank Says It Will Refund Fees From Glitch


tdb1.jpgTD Bank says it will reimburse customers who incur fees because of computer problems that have delayed transaction postings all week.

The bank, based in Cherry Hill and Portland, Me., says the problem came about as it tries to integrate the computer systems of the old TD Banknorth and Commerce Bank.

The problem means direct deposits are not showing up immediately — and that could cause some people to be short of funds.

The online computer glitches with direct deposits created a near run on the bank.

TD Bank has 6.5 million customers in the United States. There’s no word on how many customers have been impacted by the computer glitch, but here in the tri-state area it was pretty apparent. Every parking space at many of the bank’s 270 tri-state area branches was filled on Thursday.

David Perkins, a Surgery Technician at Lenox Hill Hospital said his direct deposit paycheck was missing.

“I went to get money so I could pay rent and stuff and I didn’t have any funds available in my account,” he said.

Perkins made an emergency trip to the Morningside Heights branch and learned the direct deposit lagged by a day. He was told the bank would cover any overdraft penalties.

He was able to get cash out of another account to pay his rent.

On the bank’s Web site, it says it will not charge customers any fees because of the problem and that it will reimburse them for fees charged by other banks.

TD acquired Commerce Bank last year and over the weekend began merging the two banks’ computer systems. Since then it has been running slowly; credits and debits delayed.

(Source: CBS2 HD)



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