CHERRY HILL, N.J. – For a bank that bills itself as “America’s Most Convenient Bank,” it was anything but last week.
TD Bank, which is in the process of integrating the computer systems of Commerce Bancorp, which it acquired, suffered a computer shutdown that led to denials of access for thousands of customers. Those problems were only highlighted for a bank that has pioneered all-day Sunday hours and advertises its convenience as a primary sales point.
TD Bank, a subsidiary of Toronto-based Dominion Bank, earlier had informed customers that some of its systems would be down over the weekend as part of the integration project. But customers reported access continued to be denied even after the weekend, including direct deposits and other electronic transfers not taking place.
American Banker, an affiliate of Credit Union Journal, noted the “systems problem was compounded, both by its timing, coming at the end of the month when many people get paid, and by TD Bank's inability to handle numerous complaints.” Reportedly, calls to the bank’s toll-free number were overwhelming the system, and there were long lines at branches as a result.
