TD Bank retiring coin-counting machines following complaints customers were short-changed

, Financial News

TD Bank said on Thursday it has decided to retire its Penny Arcade coin-counting machines in the wake of reports that they were short-changing customers.

NEW YORK — Toronto-Dominion Bank’s TD Bank NA said on Thursday it has decided to retire its Penny Arcade coin-counting machines in the wake of reports that they were short-changing customers.

“We have determined that it is difficult to ensure a consistently great experience for our customers,” Michael Rhodes, TD Bank’s Head of Consumer Bank, said in a statement. “We will continue to assess the Penny experience and intend to appropriately address customer impact.”

Lawsuits are pending against the bank on behalf of customers who had used the machines. In one case, filed in New York state court in Manhattan last month, New Yorker Jeffrey Feinman said the machines once gave him a receipt for US$25.44 when he deposited US$26 worth of coins, and US$30.05 when he deposited US$31.

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