Money transfer, virtual currency, or money service -- Other transaction problem -- Complaint #4807766

Complaint Overview

Complaint ID: 4807766

Company: TD Bank US Holding Company

Product: Money transfer, virtual currency, or money service

Sub-Product: Domestic (US) money transfer

Issue: Other transaction problem

State: North Carolina

ZIP Code: 28104

Date Received: 2021-10-13T12:00:00-05:00

Date Sent to Company: 2021-10-13T12:00:00-05:00

Company Response: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A

Submitted Via: Web

Consumer Narrative

On XX/XX/2021, I sent an outbound wire request from the XXXX XXXX, NY TD Bank Branch ( XXXX XXXX XXXX, XXXX XXXX, NY XXXX ) in the amount of {$81000.00} to the beneficiary XXXX XXXX XXXX, XXXX. On XX/XX/2021, I was advised that the XXXX XXXX XXXX had not received my funds because the wire instructions that I was provided were not correct. I was advised that their paralegal sent me the wrong instructions and that my money was sent to XXXX XXXX when they actually bank with XXXX XXXXXXXX XXXX. I was told that I was a victim of wire fraud and that I would need to file a wire recall with TD Bank. On XX/XX/2021 at XXXX XXXX, I went into the XXXX XXXXXXXX XXXX NY TD Bank Branch and sat down with branch manager XXXX XXXX XXXX advised me that he would file a wire recall request and that I would receive an update within 3 to 5 business days. I called XXXX at XXXX on 2-hour intervals from XX/XX/XXXX until XX/XX/XXXX looking for an update. Each day XXXX advised me that there was no update and that there was nothing more he could do for me. On XX/XX/XXXX I received a call from XXXX advising me that the wire recall request was rejected and that I would not get my money back. XXXX advised me there was NOTHING more that TD Bank could do to help me. On XX/XX/2021 I contacted XXXX XXXX XXXX and spoke with a representative in their Loss Prevention Department ( XXXX ). This representative advised me that the transaction where I sent {$81000.00} was flagged for fraud because it was not characteristic of the account. I was advised that the money was frozen and could only be released back to TD Bank if TD Bank filed an indemnification or hold harmless letter. I have a recording of this phone call. I contacted TD Bank at XXXX on numerous occasions advising customer service of what XXXX XXXX XXXX had told me. I was told there was NOTHING they could do other than wait for XXXX XXXX to respond to the wire recall request that was submitted on XX/XX/2021. On or about XX/XX/XXXX, I convinced XXXX at the XXXX XXXX, NY TD Bank Branch to file a claim to open a GSI Investigation. XXXX advised me that it would take 5 business days to get an investigator assigned. From XX/XX/XXXX to XX/XX/XXXX I called XXXX on 2-hour intervals asking for an updated to which his response was GSI will respond when someone is assigned and there was nothing more that he could do for me. He advised me that GSI does not take inbound calls and they only had a form that could be submitted. While waiting for a response, I called my local FBI field office and was assigned XXXX XXXX XXXX XXXX ( XXXX XXXX ) to help me with my complaint. XXXX XXXX XXXX sent an email to TD Bank on XX/XX/2021 at XXXX requesting for someone to reach out to me to coordinate sending the hold harmless letter. At some point after XX/XX/2021, I received a call from XXXX XXXX in GSI ( XXXX ) who advised me that the XXXX assigned to my case was on leave and that no one was handling my case. He advised me that he would try to help get my letter sent to XXXX XXXX so they could refund my money. It was not until XX/XX/2021 that XXXX XXXX received the hold harmless letter. According to XXXX XXXX, XXXX XXXX can take 6 to 9 months to respond to this letter. On XX/XX/XXXX, I called XXXX XXXX XXXX and was advised the money was refunded back to my TD Bank account in the amount of {$81000.00} on XX/XX/XXXX. I didnt have that money but was assured by everyone that it could take some time to clean XXXX XXXX general ledger and TD Bank could possibly have the money in their General Ledger before assigning it to my bank account. I later found out that XXXX XXXX DID NOT send the {$81000.00} back to my account. They received an indemnification letter on XX/XX/2021 from XXXX XXXX XXXX XXXX for a customer that was defrauded by this same bank account before XX/XX/2021 for an excess of {$100000.00}. XXXX XXXX used the {$81000.00} that was placed on hold for fraud ( from my TD Bank Account ) to send back to XXXX XXXX XXXX XXXX to indemnify their customer. I have been advised that had TD Bank filed the paperwork before XX/XX/XXXX that I would have received the {$81000.00} back to my TD Bank account. At this time, I am requesting a formal investigation into these allegations. TD Bank has failed to protect the money that I trusted them with. At each level, from the branch, to the wire department, to customer service, and to GSI, there has been multiple failures that resulted in a significant financial loss to my family. TD Bank failed to file paperwork in a timely fashion with XXXX XXXX to recover the funds that they flagged as fraudulent. TD Bank failed to comply with my request to file this paperwork on XX/XX/2021. Had TD Bank acted properly, the request to GSI would have been submitted on XX/XX/XXXX, and processed within XXXX business days to be received by XXXX XXXX on or before XX/XX/XXXX. I look forward to a prompt response and a thorough investigation. After speaking with a customer service supervisor at TD Bank XXXX, I was advised that my only course of action is to mail a letter to TD Bank Chairman Services XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, NJ XXXX. I typed the letter and tried to mail it from a USPS location and was advised that this address does not exist. I was told by the USPS that the closest address matching this one is XXXXXXXX XXXX XXXXXXXX, XXXX XXXX NJ XXXX which is a small used car dealership. TD Bank is not communicating with me and providing me with fictitious mailing addresses to mail my complaint.

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