Struggling to manage your TD Bank account online? You’re not alone.
TD’s overhaul of its web and mobile platforms was supposed to kick off Feb. 10, a Saturday, and be completed for the opening of East Coast business the following Monday morning.
But one month later, many of the bank’s customers say they are still experiencing issues, from failed transfers between accounts to being unable to report fraudulent charges.
Although a spokesperson for the bank said via a statement that “challenges” related to the upgrade are now “resolved,” customers continue to take to social media to vent frustrations about ongoing problems.
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Among the ongoing issues, according to Facebook posters:
Twitter users posted similar sentiments.
Customers also complained about longer-than-normal hold times and slower customer response. CEO Greg Braca confirmed the issues in a video message, though he did not explicitly link those to the software upgrade.
Regardless of the cause, the situation is creating difficulties and stress for some customers.
After she tried to make a donation to a United Kingdom-based crowd-funding site, her debit cards were frozen, according to Patty Caslin-Taylor post on the bank’s Facebook page.
As a result, one of her daughters, a college student who is diabetic, was unable to purchase food with her card. The bank failed to alert her daughter that the card had been frozen, she said.
“The gentleman at the counter knew her and was kind enough to tell her to pay the next time,” Taylor wrote. “[I] have been arguing with [TD] customer service to unlock her card....She has no cash on her...This is a LIFE THREATING situation and I’m still being told NO!!!”
It’s not clear what has derailed the upgrade rollout. The bank is referring all inquiries to a web page that offers solutions to problems customers may be experiencing.
That still isn’t helping Jeff Cohen, a 63-year-old Miami retiree who said he has banked with TD for two years but is now “99 percent” sure he’ll switch to another bank as a result of the problems. Cohen recently had to replace his debit card and attempted to connect the new card to Apple Pay. Unlike many other banks, which allow customers to connect the cards online, TD customers must call the bank to finalize the arrangement. After being told he would have to wait on hold at least 20 minutes — instead of the usual minute or two — he gave up.
“It’s a complete, massive failure of the roll-out,” Cohen said.
New Jersey-based TD is the eighth-largest bank in the U.S. by asset size, with more than 1,200 branches on the east coast, including at least 21 locations in Miami. It is the third major bank whose customers have suffered through major technical glitches this year.
In January, Capital One began double-booking many customers for the same debit card transactions, and Wells Fargo customers experienced a similar issue just a few days later. There is no evidence the incidents were related, according to American Banker.
Stessa Cohen, an analyst for Gartner research group, said these issues are a sign that banks are not investing enough resources in their back-end technology.
“Digital design is not just a question of making [a site] look pretty, but it also has to be easy to use,” she said.
While banks face regulatory and security requirements, many appear to have taken “the path of least resistance” when upgrading their technology, which has made their tech “incredibly easy to hack,” she said.
But TD’s failure seems to be particularly acute, given the length of the delay. Even Cohen said she finds the emergency web page difficult to understand.
“It’s a little surprising that [TD doesn’t] seem to get it,” she said.