TD Bank has axed its problematic coin-counting machines amid a string of accusations claiming they don't count change properly.
TD confirmed on Friday that it has decided to shut down its coin-counting machines in Canada due to "customer demand and usage, among other factors." The decision came after the bank conducted a business review of the service, a spokesperson told CTV News.
It also comes a day after the U.S. branch of TD announced it is retiring its Penny Arcade coin-counting machines, because it was concerned they "may not always meet its standard for outstanding customer service."
A class-action lawsuit was filed against TD in New York last month, by individuals who claimed the bank was not giving full credit to customers who dropped their coins in the machines. The lawsuit came after media investigations revealed the machines repeatedly counted change incorrectly.
Head of Consumer Bank Michael Rhodes said TD has seen a steady decline in the use of its coin-counting machines, so the organization is going to look at other options to help customers sort their change. "We will continue to assess the Penny experience and intent to appropriately address customer impact," Rhodes said in a statement sent out by the U.S. branch of TD.
TD says it will continue to accept pre-rolled coins in the U.S. and Canada.
