TD Bank’s Penny Arcade machines are down for the count.
The fourth-largest retail bank in Massachusetts announced on Thursday that it would retire its fleet of 1,000 coin-counting machines citing performance issues, after getting complaints that they short-changed customers.
“We have determined that it is difficult to ensure a consistently great experience for our customers,” Michael Rhodes, the head of consumer banking at TD, said in a statement. “We will continue to assess the Penny experience and intend to appropriately address customer impact.”
In April, NBC’s “Today” show tested several machines and found that TD’s Penny Arcades weren’t accurate. In one case, the bank’s machine gave $43 less than the change deposited.
At the time, TD defended its procedures for cleaning and calibrating the machines, but suspended the service for additional testing.
The coin counting machines had been a major selling point for the bank. The machines were free to customers, but the bank charged noncustomers a fee.
TD said that usage of the machines had declined over the years.
The bank declined to comment about the results of its testing on the machines and how frequently they were inaccurate.
TD has nearly 150 branches in Massachusetts.