The worst customer service experience of my life.
Written: Jul 01 '03
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Pros: Unfortunately, at this point, it would be difficult for me to list any pros.
Cons: Extraordinarily poor customer service, unexpected fees, unexplained problems.
The Bottom Line: TD Waterhouse has recently provided me with the single worst customer service experience of my life. It was honestly previous beyond my comprehension to conceive of such poor service.
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| Peteer01's Full Review: TD Waterhouse |
TD Waterhouse has recently provided me with the single worst customer service experience of my life. It was honestly previous beyond my comprehension to conceive of such poor service.
I received stock as a graduation gift from a family member who had worked for the company when the certificate was issued, and as the stock came from their account, it was printed on restricted paper, although since it was in my name, it is my understanding that it should not have been restricted.
I deposited the certificate in early May, because I was going abroad to Japan, and I wanted to get all of my money and all of my stocks into a single account that I could access from online. Unfortunately, the bursting of the internet bubble dropped my portfolio below a set limit, allowing TD Waterhouse to deducted $25 a quarter as a "account maintenance fee" or some similar charge, and they had also stopped mailing my portfolio updates to me, making me relatively unaware of these charges. As such, the money in my money market account had dropped to a negative balance.
Regardless, I was told that if I deposited my shares of XXXX (ticker symbol removed for privacy reasons), I could bring my balance over the $3000 limit necessary for reopening a money market account. (I still had my old checks, which I had believed were valid until I checked with TD Waterhouse) I submitted a money market form several days after submitting my stock certificate and was told it would be no problem, and that there was a good chance that I would get paper checks before heading to Japan. This wasn't too important to me, but I did need the checking account number relatively soon so I could pay my Visa bill from Japan.
I did not receive a checking number before leaving for Japan, so I contacted TD Waterhouse from the US, told them I was going Japan, explained my situation, and they told me that the XXXX shares were restricted because they wait 10 business days after depositing a paper certificate for security reasons. The person I spoke to said I could expect to receive a checking account shortly after the stock was no longer restricted.
I did not receive a checking number, and a couple of days after arriving in Japan, I contacted TD Waterhouse and, told them I was in Japan, explained my situation, and they told me that the XXXX shares were restricted, but that they didn't know why, but that they would get back to me. I made sure to give them ALL of my contact information in Japan, to insure I could be contacted.
Several days later, a form arrived at my US address for reasons I still do not understand. My parents faxed it to me, and then the real tribulations began. To cut a long story short, I will simply paste the last letter I have sent them, which is a reply to one of many e-mail conversations I have attempted to have with customer service:
I have e-mailed and faxed approximately 50 pieces of correspondence over the last 6 weeks, and I have yet to have useful progress in getting my XXXX moved to non-restricted, having a checking account reinstated, and being able to use MY money, which has been locked up by TD Waterhouse due to the fact that my XXXX shares were printed on a restricted paper for whatever reason, although I believe they were not supposed to be.
I have sent the number for NAME REMOVED, CFO, and the number for NAME REMOVED, XXXX Legal Council, to TD Waterhouse multiple times by fax, by e-mail and by phone, among other attempts to reconcile this problem, and still, there has been no progress.
I have faxed back the form that was sent, and then resent, to my parents at my US address. I received no response, was then told it was not received, and faxed the form the following week with a cover letter with all of my contact information.
I again received no response, called and was then told it was not received, and faxed the form the following week with a new cover letter with all of my contact information, my problem and three pages of correspondence via e-mail offering no useful assistance whatsoever.
I spoke to a customer service representative California the week after that, on Friday the 20, for an extended period of time. I received an apology and was told that both he and his manager were on the problem and that I would be over-nighted a form by Fedex with a return envelope, postage paid, to fill out to have my XXXX taken off of restricted. I have still not received that.
The following week I spoke to the late night support center on Saturday at 6pm JST. I was told he would take instant action, and that I would receive some form of an update by Monday at the latest. I still have not received
any update on the status of my account, nor have I received any e-mail, mail, fax or phone call from TD Waterhouse.
At this point, I literally have no idea what it takes to enact any productive change in my account's status, as I have been trying to fix this problem since discovering it in mid May.
Please research my account and take whatever actions are necessary to allow me to sell some of my shares of XXXX and receive a checking account.
Sincerely,
NAME REMOVED
>From: CustomerService@TDWaterhouse.com
>To: address@removed
>Subject: RE: RE: RE: RE: FW: Please help me.
>Date: Thu, 19 Jun 2003 11:34:05 -0400
>MIME-Version: 1.0
>Received: from routeinfo.removed([65.54.256.256]) by
>routeinfo.removed with Microsoft SMTPSVC(5.0.256.256); Thu, 19 Jun
>2003 08:34:31 -0700
>Received: from removed.waterhouse.com ([207.16.40.13]) by
>removed.hotmail.com with Microsoft SMTPSVC(5.0.256.256); Thu, 19 Jun
>2003 08:34:31 -0700
>Received: by removed.waterhouse.com; id removed; Thu, 19 Jun 2003
>11:34:28 -0400
>Received: from removed(10.22.256.256) by removed.waterhouse.com
>via smap (V5.0)id removed; Thu, 19 Jun 03 11:34:11 -0400
>Received: by removed.waterhouse.com with Internet Mail Service
>(5.5.256.19256id (htmlcaratnotallowed)removed>; Thu, 19 Jun 2003 11:34:13 -0400
>X-Message-Info: REMOVED REMOVED
>Message-ID: (htmlcaratnotallowed)REMOVED@REMOVED>
>X-Mailer: Internet Mail Service (5.5.256.256)
>Return-Path: CustomerService@TDWaterhouse.com
>X-OriginalArrivalTime: 19 Jun 2003 15:34:31.0340 (UTC)
>FILETIME=[REMOVED:REMOVED]
>
>Dear Mr. REMOVED,
>
>Thank you for your e-mail regarding your holdings.
>
>If you call 1-212-344-2525 (when dialing outside U.S) you may call
>at anytime. There are Account Officers available at that number
>7 days a week and 24 hours a day.
>
>If you have any further questions or comments, please feel
>free to e-mail us again or to contact a TD Waterhouse
>representative at 1-800-934-4448. If you are calling from
>outside the United States, please dial 1-212-344-2525.
>
>As always, we thank you for your business and look forward
>to continuing to help you manage your money successfully.
>
>Thank you for choosing TD Waterhouse.
>
>Thomas Sudol
>Customer Service
>
>(T~SER)
>KB
>
>***********************************************************************
>All e-mail sent to or from this address will be received by the
>TD Waterhouse corporate e-mail system and is subject to archival
>and review for quality assurance.
>
>(c)2001 TD Waterhouse Investor Services, Inc. Member NYSE/SIPC.
>*************************************************************************
>
>TRACKING NUMBER: REMOVED-REMOVED
>
> -----Original Message-----
>
>
> From: REMOVED@REMOVED.com
> Sent: Thursday, Jun 19 2003 11:15 AM
> To: customer service (sec)
> Subject: RE: RE: RE: FW: Please help me.
>
> What hours (preferably in JST, which is 13 hours ahead of EST) can I
>call to
>speak with someone? So far I have been unsuccessful using the 800 number
>due to time differences...
>
>- NAME REMOVED
>
>
> >From: CustomerService@TDWaterhouse.com
> >To: REMOVED@REMOVED.com
> >Subject: RE: RE: RE: FW: Please help me.
> >Date: Thu, 19 Jun 2003 11:05:53 -0400
> >MIME-Version: 1.0
> >Received: from gate2.waterhouse.com ([208.192.256.256]) by
> >REMOVED.hotmail.com with Microsoft SMTPSVC(5.0.256.256); Thu, 19
>Jun
>
> >2003 08:06:48 -0700
> >Received: by gate2.waterhouse.com; id REMOVED; Thu, 19 Jun 2003 11:06:44
> >-0400
> >Received: from REMOVED(192.168.256.256) by REMOVED.waterhouse.com via
> >smap (V5.0)id REMOVED; Thu, 19 Jun 03 11:05:55 -0400
> >Received: by REMOVED.waterhouse.com with Internet Mail Service
> >(5.5.256.256)id (htmlcaratnotallowed)REMOVED>; Thu, 19 Jun 2003 11:05:57 -0400
> >X-Message-Info: REMOVED REMOVED
> >Message-ID: (htmlcaratnotallowed)REMOVED@REMOVED>
> >X-Mailer: Internet Mail Service (5.5.256.256)
> >Return-Path: CustomerService@TDWaterhouse.com
> >X-OriginalArrivalTime: 19 Jun 2003 15:06:48.0347 (UTC)
> >FILETIME=[REMOVED:REMOVED]
> >
> >Dear Mr. NAME REMOVED,
> >
> >Thank you for your e-mail regarding your holdings.
> >
> >Unfortunately, we may not contact any customers overseas. If you
> >would like to speak to a representative it will be necessary for you
> >to contact us at 1-212-344-2525 when calling from outside the
> >United States.
> >
> >
> >As always, we thank you for your business and look forward
> >to continuing to help you manage your money successfully.
> >
> >Thank you for choosing TD Waterhouse.
> >
> >Thomas Sudol
> >Customer Service
> >
> >(T~SER)
> >KB
> >
> >
> >***********************************************************************
> >All e-mail sent to or from this address will be received by the
> >TD Waterhouse corporate e-mail system and is subject to archival
> >and review for quality assurance.
> >
> >(c)2001 TD Waterhouse Investor Services, Inc. Member NYSE/SIPC.
> >*************************************************************************
> >
> >TRACKING NUMBER: REMOVED-REMOVED
> >
> > -----Original Message-----
> >
> >
> > From: REMOVED@REMOVED.com
> > Sent: Thursday, Jun 19 2003 10:50 AM
> > To: customer service (sec)
> > Subject: RE: RE: FW: Please help me.
> >
> > I would VERY MUCH like to speak to someone from TD Waterhouse. I
> >CANNOT
> >call internationally from my cellular phone... Can someone from TD
> >Waterhouse please PLEASE PLEASE call me? 81-90-REMOVED(Japan). I
> >assure you, I work over 12 hours a day and you are only open during times
> >that make it virtually impossible for me to contact you. I will be awake
> >for the next hour, and it would be MUCH easier to talk to someone once
>than
> >writing another 50 e-mails (which I probably have at this point) trying
> >resolve a bunch of issues that simply should not have every existed...
>(My
> >XXXX should not have been restricted, which means I SHOULD have gotten a
> >checking number, and my account should never have had online trading
> >disabled... I'm pretty strongly disappointed by what appears to be a
>lack
> >of any collective sharing of information on TD Waterhouse's part...)
> >
> >- NAME REMOVED
> >
> > >From: CustomerService@TDWaterhouse.com
> > >To: REMOVED@REMOVED.com
> > >Subject: RE: RE: FW: Please help me.
> > >Date: Thu, 19 Jun 2003 10:32:30 -0400
> > >MIME-Version: 1.0
> > >Received: from REMOVED.waterhouse.com ([207.16.256.256]) by
> > >REMOVED.REMOVED.hotmail.com with Microsoft REMOVED(5.0.256.256); Thu, 19
> >Jun
> >
> > >2003 07:33:10 -0700
> > >Received: by REMOVED.waterhouse.com; id REMOVED; Thu, 19 Jun
>2003
> > >10:33:07 -0400
> > >Received: from REMOVED(10.30.3.85) by
>REMOVED.waterhouse.com
> > >via smap (V5.0)id REMOVED; Thu, 19 Jun 03 10:32:35 -0400
> > >Received: by REMOVED.waterhouse.com with Internet Mail Service
> > >(5.5.256.256)id (htmlcaratnotallowed)REMOVED>; Thu, 19 Jun 2003 10:32:36 -0400
> > >X-Message-Info: REMOVED REMOVED
> > >Message-ID: (htmlcaratnotallowed)REMOVED@REMOVED>
> > >X-Mailer: Internet Mail Service (5.5.256.256)
> > >Return-Path: CustomerService@TDWaterhouse.com
> > >X-OriginalArrivalTime: 19 Jun 2003 14:33:10.0439 (UTC)
> > >FILETIME=[REMOVED:REMOVED]
> > >
> > >Dear Mr. NAME REMOVED,
> > >
> > >Thank you for your e-mail regarding your holdings.
> > >
> > >Unfortunately, the stock power form can not be accepted via fax.
> > >We will need a mailed hard copy of the form with your signature.
> > >You should be receiving the form shortly. Please sign and mail it
> > >back to us so we can resolve the issue.
> > >
> > >
> > >If you have any further questions or comments, please feel
> > >free to e-mail us again or to contact a TD Waterhouse
> > >representative at 1-800-934-4448. If you are calling from
> > >outside the United States, please dial 1-212-344-2525.
> > >
> > >As always, we thank you for your business and look forward
> > >to continuing to help you manage your money successfully.
> > >
> > >Thank you for choosing TD Waterhouse.
> > >
> > >Thomas Sudol
> > >Customer Service
> > >
> > >(T~SER)
> > >KB
> > >
> > >***********************************************************************
> > >All e-mail sent to or from this address will be received by the
> > >TD Waterhouse corporate e-mail system and is subject to archival
> > >and review for quality assurance.
> > >
> > >(c)2001 TD Waterhouse Investor Services, Inc. Member NYSE/SIPC.
> >
> >*************************************************************************
> > >
> > >TRACKING NUMBER: REMOVED-REMOVED
> > >
> > > -----Original Message-----
> > >
> > >
> > > From: REMOVED@REMOVED.com
> > > Sent: Thursday, Jun 19 2003 10:20 AM
> > > To: customer service (sec)
> > > Subject: RE: FW: Please help me.
> > >
> > > Thomas,
> > >
> > >Perhaps I am mistaken, but I thought that was what I faxed back three
> > >times?
> > >
> > > Also, I believe the shares are not supposed to be restricted, and I
> > >place
> > >a sell order, and you contact XXXX, I believe they'll tell you that,
>but
> > >I'm
> > >
> > >not entirely sure I understand. If I did, we probably wouldn't be
>having
> > >this conversation at this length. I apologize for the confusion that
> > >originates on my part.
> > >
> > >- NAME REMOVED
> > >
> > > >Dear Mr. NAME REMOVED,
> > > >
> > > >Thank you for your e-mail regarding your holdings.
> > > >
> > > >Currently your COMPANY REMOVED. (XXXX) shares are
>restricted.
> > > >In order to remove the restriction please fill out a stock power form
> > > >and mail it back to us. I am sending a stock power form to your
> > > >address of record.
> > > >
> > > >If you have any further questions or comments, please feel
> > > >free to e-mail us again or to contact a TD Waterhouse
> > > >representative at 1-800-934-4448. If you are calling from
> > > >outside the United States, please dial 1-212-344-2525.
> > > >
> > > >As always, we thank you for your business and look forward
> > > >to continuing to help you manage your money successfully.
> > > >
> > > >Thank you for choosing TD Waterhouse.
> > > >
> > > >Thomas Sudol
> > > >Customer Service
> > > >
> > > >(T~ACC)
> > > >KB
> > > >
> > >
> >***********************************************************************
> > > >All e-mail sent to or from this address will be received by the
> > > >TD Waterhouse corporate e-mail system and is subject to archival
> > > >and review for quality assurance.
> > > >
> > > >(c)2001 TD Waterhouse Investor Services, Inc. Member NYSE/SIPC.
> > >
> >
> >*************************************************************************
> > > >
> > > >TRACKING NUMBER: REMOVED-REMOVED
> > > >
> > > > -----Original Message-----
> > > >
> > > >
> > > > From: contactus@tdwaterhousebank.com
> > > > Sent: Tuesday, Jun 17 2003 08:26 PM
> > > > To: customer service (sec)
> > > > Subject: FW: Please help me.
> > > >
> > > > reply to client directly
> > > >
> > > >-----Original Message-----
> > > >From: NAME REMOVED [mail(html not allowed)to:REMOVED@REMOVED.com]
> > > >Sent: Sunday, June 15, 2003 10:53 AM
> > > >To: help@tdwaterhouse.com; info@tdwaterhouse.com;
> > > >contactus@tdwaterhousebank.com
> > > >Subject: Please help me.
> > > >
> > > >
> > > >My name is NAME REMOVED, my email address is
>REMOVED@REMOVED.com
> > >and
> > > >my phone number is NUMBER REMOVED. I have been trying to contact TD
> > > >Waterhouse regarding my account by e-mail, but the non secure e-mail
> > >keeps
> > > >failing. It says, "If you are an existing TD Waterhouse customer we
> > > >recommend that you login to your account to send us a secure e-mail
> > >message
> > > >from the Customer Service Center." but after a half hour of
>searching,
> >I
> > > >can't believe that such a link actually exists unless it's the same
> > > >"Contact
> > > >Us" link that DOESN'T work. I am in Japan and I am trying to get my
> >XXXX
> > > >stock off of restricted status as it should not be restricted. This
>is
> > > >also
> > > >preventing me from getting a... I'm not going to go into the
>problems
> > >this
> > > >is causing me right now, just PLEASE get the below e-mail with my
>name,
> > > >phone number and e-mail to the right people at TD Waterhouse.
>Please.
> > > >
> > > >Sincerely,
> > > >NAME REMOVED
> > > >
> > > >
> > > >I am still waiting for my XXXX stock to be taken off of restricted.
>I
> > > >filled out and refaxed the requested information to TD Waterhouse.
> >That
> > > >stock was given to me as a graduation present, no one in my family
>has
> > >sold
> > > >any stock over the past two years, there should be no reason why it
> > >should
> > > >be restricted. I am currently living in Japan, and I have closed my
> > >other
> > > >U.S. bank accounts. I plan on using the TD Waterhouse bank account
> > >(which
> > > >I
> > > >applied for over three weeks ago) to pay off my U.S. Visa bill and
>for
> >my
> > > >parents to use to deposit U.S. checks of mine into the account. The
> >fax
> > > >was
> > > >sent on the sixth, and then again last week with a cover letter. No
> >one
> > >in
> > > >my family has heard anything from anyone at TD Waterhouse regarding
> > >either
> > > >the issuance of a checking account number so that I can pay my Visa
> >bill
> > > >online, nor the status or reason for the restriction of my shares of
> > >XXXX.
> > > >
> > > >My cell phone number is 81-90-REMOVED. I would greatly appreciate
> >an
> > > >e-mail letting me know what is going on, and if someone needs to
> >contact
> > > >me,
> > > >please call my cell phone if necessary. Preferably between 21:30 and
> > >23:00
> > > >JST.
> > > >
> > > >Sincerely,
> > > >
> > > >NAME REMOVED
> > > >
> > > >_________________________________________________________________
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I suspect those e-mails, which truly are only a small percentage of the e-mails I have received, do an adequate job of describing the problem. If I were in America, I would never have allowed it to get to this point, but unfortunately, there is very little I can do at this point, but needless to say, saying I am extremely dissatisfied is a huge understatement.
Recommended:
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Epinions.com ID:
Peteer01
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Member: Eric Peterson
Location: Kawasaki, Kanagawa, Japan
Reviews written: 18
Trusted by: 10 members
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