Ripped off by TD Bank Penny Arcade? You can make your claim now
CHERRY HILL — Monday is the first day to file a claim with TD Bank over its allegedly faulty Penny Arcade change counting machines.
Potential payouts are part of the settlement over a class action lawsuit claiming the Cherry Hill based bank shortchanged customers. The machines were removed from branches after NBC's Today show showed five different machines, each counting the same amount of change, but giving five different results.
According to CGC, the administrator of the settlement, TD Bank, does not admit guilt and agreed to a settlement to avoid the cost of litigation.
CGC said those who used the machines between April 11, 2010 and July 12, 2017 are eligible for payments from a settlement fund valued at $7.5 million
- If you used a Penny Arcade machine and you did not have a TD Bank account you must submit a claim form by Oct. 27.
- If you used a Penny Arcade machine and had a TD Bank account your account will automatically be credited based on a mathematical formula and records of your transactions.
- You can exclude yourself from the settlement, which allows you to participate in other lawsuits brought against TD Bank.
TD Bank employees are not eligible to participate in the settlement
The payment amount is determined by a mathematical formula that amounts to 26 cents per $100 during seven year period for TD Bank account holders. Non-account holders will not get a payout of more than $500.
The court still needs to approve the settlement and has scheduled a hearing for January 11 in Camden.
Contact reporter Dan Alexander at Dan.Alexander@townsquaremedia.com.
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