TD Bank to temporarily remove Penny Arcades

[DaytonaRacer]

This article was posted this morning: Coin-counting machines may be shortchanging you - TODAY.com

After the Today show highlighted the coin counting discrepancies, TD Bank has responded thusly: "After what Rossen Reports found, TD Bank told NBC News they are pulling all coin machines out of service at all branches nationwide for evaluation and re-testing. Those machines will go back into service only when the bank is satisfied they meet performance requirements. TD Bank also told NBC News they're enhancing their routine maintenance program."

 

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[DaytonaRacer]

I used to think the same thing until garda "lost" a $1000 bag of half dollars on me. Took me 4 months and detectives to finally get my money. Garda said the bag was empty when the bank gave it to them, because we all know that banks give coin suppliers empty bags to process. At gardas factory the toilets also flush the opposite direction.

What the hell happened there?!?!?

 

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[Liu21]

I used to think the same thing until garda "lost" a $1000 bag of half dollars on me. Took me 4 months and detectives to finally get my money. Garda said the bag was empty when the bank gave it to them, because we all know that banks give coin suppliers empty bags to process. At gardas factory the toilets also flush the opposite direction.

They the guards probably broke the bag and all the coins fell out in the garage where they park and unload them... thus
Your bag became unaccountable when coin personnel processes it, because it was an empty bag. I'm willing to bet they have to review their video feeds
To verify that the bag contained coins and what happened to the coins before giving
The bank credit
For the bag lol

 

[cdickrun64]

This sounds like TD is using the article as an excuse to mess you guys up....

 

[Oquario79]

Local gals are very helpful and nice but not having Penny is such a pain. Didn't want to dump yesterday so went to 3 coinstar machines (they were accurate by the way) and called TD on what was needed from receipt. Well a photocopy is needed so had to go to copy store to get a copy since local stores didn't or couldn't make a copy for me. Then had to go back to stores for money and last to TD with copy of receipts to get fee reimbursed. Idk if I will do that this week...

 

[mxh5891]

Local gals are very helpful and nice but not having Penny is such a pain. Didn't want to dump yesterday so went to 3 coinstar machines (they were accurate by the way) and called TD on what was needed from receipt. Well a photocopy is needed so had to go to copy store to get a copy since local stores didn't or couldn't make a copy for me. Then had to go back to stores for money and last to TD with copy of receipts to get fee reimbursed. Idk if I will do that thus week...

Any news from them about when the machines will be back up and running? I though i heard someone say two weeks?

 

[Oquario79]

Any news from them about when the machines will be back up and running? I though i heard someone say two weeks?

2 weeks minimum.. this past Wednesday was week one.

 

[DaytonaRacer]

2 weeks minimum.. this past Wednesday was week one.

<< sigh >>

 

[Oquario79]

Update .. went to 2 different TD'S getting my coinstar refund and both tellers told me that Penny may be going away. It's speculation and I hope it's not true. Truth be told....... Penny is the only reason why I have an acct with TD. May need to lower input in TD and see about a credit union..

 

[Liu21]

My friend works at a TD branch, he said "Lol yea it's down until they replace or fix the bad penny machines, we been sending people to coinstars or anywhere they find a coin machine lol"

 

[TheMastermind]

They are "down indefinitely" in my area, so say my two TD Bank lady friends. Now is the time to try and flesh out a bag dumping situation if you can, so much quicker and easier.

 

[DaytonaRacer]

This just keeps getting worse and worse.

 

[mxh5891]

This just keeps getting worse and worse.

Don't get to worried yet. I am going to call my local TD bank and see what they story is sometime next week. If they are gett8ng rid of penny I guess I have to roll a few hundred in mixed change.

 

[DaytonaRacer]

Don't get to worried yet. I am going to call my local TD bank and see what they story is sometime next week. If they are gett8ng rid of penny I guess I have to roll a few hundred in mixed change.

It might be time for us to invest in some coin sorters.

 

[DaytonaRacer]

And to add to the issue, now somebody has filed a Class Action Lawsuit against TDB and their Penny Arcades: https://topclassactions.com/lawsuit...action-says-coin-counting-machines-defective/


TD Bank faces a proposed class action lawsuit in Florida over claims that its Penny Arcades, which are the coin-counting machines the bank provides for both customers and non-customers, are inaccurate and cause users to lose out on the full value of their money.

According to the complaint, which brings forth claims of unfair trade practices and breach of contract, Penny Arcades weren’t originally meant to be used for commercial coin counting. Initially, they were intended to be used by children to give them an incentive to count their change and save their money. The lawsuit states that despite the machine’s original purpose, Penny Arcades are represented as a reliable method of coin counting by TD Bank.

“TD Bank’s practice of offering the Penny Arcade as an accurate coin-counting service is deceptive because a reasonable person would likely be misled into believing that the machines correctly count coins,“ the complaint says. “Moreover, TD Bank failed to disclose material information concerning the Penny Arcades, which they knew at the time of consumers’ use. TD Bank withheld the fact that the Penny Arcades were malfunctioning.”

Penny Arcades are coin-counting machines designed and used exclusively by TD Bank as a service that is available to both customers and non-customers of the bank, however there is an eight percent usage fee for non-customers. Users simply drop their coins into the Penny Arcade and take the receipt to a teller for cash or a deposit into a TD Bank account.

Despite, TD Bank’s claim that it tests Penny Arcades at least two times a day, NBC’s Today Show aired a segment on Apr. 6, 2016, on coin-counting machine accuracy, which revealed that four Penny Arcades in the New York City area were tested and there were shortages at every machine, up to 15 percent.

TD Bank reportedly took its Penny Arcades out of service the day before the segment aired so it could test its methodology and increase the machines’ accuracy.

TD Bank said in a statement earlier this week that the machines will be brought back into service once the bank is satisfied that they meet performance requirements. The bank also said it will be enhancing routine maintenance and testing.

“We are disappointed with the experience that the ‘Today’ show had with our Penny Arcade coin-counting machines,” the bank said. “At TD Bank, we place a premium on the integrity of these machines, and that’s why we clean and test them twice daily to confirm accuracy.”

Plaintiff Juan Carlos Macias, a Florida resident, filed the class action lawsuit after he allegedly used TD Bank’s Penny Arcade last month in Miami and was shortchanged.

Macias brought the action on behalf of a nationwide customer Class who used TD Bank’s Penny Arcade coin-counting services as a customers of TD Bank anytime during the last four years, as well as a Florida subclass. According to the complaint, while the exact number of Class Members cannot be ascertained, it is estimated that tens of thousands of TD customers nationwide were affected by the allegedly defective machines.

The plaintiff is suing TD Bank on multiple counts including Violation of Florida’s Deceptive & Unfair Trade Practices Act, unjust enrichment, and breach of implied-in-fact contract.

The proposed class action seeks compensatory, actual and other damages; attorneys’ fees and costs and prejudgment and post-judgment interest.

Macias is represented by Michael E. Criden, Kevin B. Love and Lindsey C. Grossman of Criden & Love PA, and Alexander Angueira of Alexander Angueira PLLC.

The TD Bank Penny Arcades Class Action Lawsuit is Juan Carlos Macias, et al. v. TD Bank NA, Case No. 1:16-cv-21298, in the U.S. District Court for the Southern District of Florida.

 

[CC-Hunter]

On the bright side, if Penny goes away and I can close my account and get back the $100 I have there to keep the checking account open and free of fees.

 

[Oquario79]

On the bright side, if Penny goes away and I can close my account and get back the $100 I have there to keep the checking account open and free of fees.

Love the optimism..

 

[SeabeeRon]

With that Class Action suit I doubt we will ever see those machines back at TD! Hope it doesn't spread to other banks or institutions and the Coinstars!!

 

[jasonscoins]

It seems to me that this could have been avoided if there is a simple warning or disclaimer that pops up on the machine stating something along the lines of: "Thank youfor using this machine, as a user of this machine, it is understood that on occasion, coin totals may not be in exact accordance with customer expectations. If you agree to these terms, press here."

 

[Liu21]

Penny Arcade is 99% on the spot, if it is maintained by the branch. However due to neglect and such, this is where we are today with TD... If they Do away with Penny, my company will take a BIG blow to business.

 

[mark1982]

With that Class Action suit I doubt we will ever see those machines back at TD! Hope it doesn't spread to other banks or institutions and the Coinstars!!

This is what I'm worried about. I have 4 banks (not TD) that are within 10 minutes from my house that have really good machines that except $1000 in halves. If these banks decide to do away with them that will hurt my hobby a lot. I can always bag dump but I do not trust the coin suppliers after what happened to me twice. TD was nice for dimes nickels quarters. Sucks if there gone for good.

I was shorted only a fraction of the time, and I dumped in td machines hundreds of times maybe thousands. I have actually come out ahead most of the time. I found them to be pretty darn accurate for the most part. Looks like they will start to have to take rolled coin if that's the case