CNN iReport

Recently JCPenney doubled billed me for a substantial purchase.  As a result, I was keeping an eye on my TD account watching for the credit.  On Friday at 430 pm, I checked my account online, no credit.  On Saturday at 11:30 am I was in my account again and discovered that instead of a credit, Penney's had charged me a third time. This put my account in overdraft.  The biggest surprise though was that TD bank had changed all the history from the day before and all transactions on Friday now occured AFTER the Penney's charge which caused 5 items to qualify for overdraft fees.  Even though 4 items were paid (just as they showed on Friday), now they were paid AND had an overdraft fee.  After calling Penneys, I called  TD Bank. This is their new policy.  They go back to the first transaction of the day.  In my case, Penney's is reimibursing me the 105.00 but after this is all cleared up, I'm closing this account. I was told the alternative is to pay 21.00 a month flat fee as overdraft insurance.

After relaying this to a friend, he told me that he had a TD overdraft problem too.  he uses his only for debit purchases, and loads in a certain amount each week. Normally, if he runs out of cash in that account, his purchase is denied.  He said, now, the purchases will go thru, but he will get charged the overdraft fee.  He said after one day of 6 charges going thru and almost 200 in overdraft fees, he closed the account.

BEWARE!!!!!!!!!!!!!!!