TD Bank glitch causing customer headaches

October 1, 2009 8:39:23 PM PDT
Some TD Bank customers cannot see up-to-date account information due to a glitch related to its combination with New Jersey-based Commerce Bank.Frustrated customers were lined up outside a TD branch in Haverford, Delaware County on Thursday morning.

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They want answers about what's happened to their deposits.

Some deposits were not showing up, and some customers were unable to see how much money was in their account.

The delay means customers can't check their balances in real-time, and some have worried about overdrawing their accounts.

TD bank says the delay is related to its conversion with Commerce Bank. Customers began experiencing problems after the two banks combined their computer systems over the weekend.

Toronto-based TD Bank Financial Group, TD Bank's parent company, bought Commerce Bancorp for $8.5 billion last year.

TD bank says it is working on the problem. They hoped to have the situation resolved by Thursday night.

One woman Action News spoke to was so frustrated, she tried to close her account and go to another bank. However, because of the glitch, she was unable to make the move.

"I came to liquidate my account and close it and go to another bank. They're telling me they can't give me my money because they don't know how much it is," said customer Dana Short.

A spokeswoman is reassuring customers that TD will cover any fees they are assessed because of the glitch.

The Associated Press contributed to this report


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