I made a deposit of a certified bank check of $199,990 from my other account at another local bank yesterday, the store manager at TD that processed the deposit, overlooked a zero, and put in the system as a deposit of $19,999. I discovered the error this morning online, the customer service said it will take 3 days to fix and have the full amount credited back.
Also went back to this branch, the store manager was apologetic. Still, this simple error created a lot of stress on my end, and the large chunk of this fund stuck in no where for a few days. It could jeopardize my investment account that I am supposed to transfer this fund over. In this market, that could mean a potential 20-30% loss out of the total amount.
In addition, I asked the corporate service rep over the phone, what if the customer does not catch the error, will the money be gone, she said yes. Banked w TD for 8 years, and surprised the carelessness they had in handling large checks, and the lack of system to ensure accuracy. Terrible experience, and costing me time and money ~D.
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