TD Bank is retiring its fleet of more than 1000 Penny Arcade coin-counting machines following reports that they were short-changing customers.
The bank suspended its free coin-counting service in April following an NBC news report which found that machines at five sites were inaccurate. The revelations sparked at least two lawsuits from short-changed customers, according to the New York Post.
Now, having tested the machines, TD says it is retiring the entire 1000-strong fleet because "we have determined that it is difficult to ensure a consistently great experience for our customers," says Michael Rhodes, head, consumer bank.
The bank's tellers will continue to accept pre-rolled coins.