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TD Bank, which calls itself "America's Most Convenient Bank," has been doing damage control this past week after computer problems left customers frustrated and confused about how much money was actually in their accounts.

And while Canadian-based TD said Thursday it is "cautiously optimistic" about resolving the matter, its competitors are using the bank's misstep to their advantage.

"Not so 'convenient,' eh?" says a new advertisement by Vineland-based Sun National Bank, which tells potential customers "there is no glitch to switch to Sun."

The ad comes on the heels of a campaign by another rival, Philadelphia-based Beneficial Bank: "If you are a customer experiencing problems with your bank, Beneficial Bank knows that you probably need a little help right now."

Other banks have reportedly seen an increase in new deposits by former customers of TD, which acquired the Cherry Hill-based Commerce Bancorp last year. The banks also are using incentives to lure them. For instance, Citizens Bank has offered $100 to those who sign up for a checking account.

But neither Beneficial nor Citizens have branches in southeastern New Jersey.

Sun, however, has more than two dozen and is rewarding each new customer with as much as $125 upon opening a checking account by Oct. 16. There are a few stipulations: They must deposit a minimum of $25 into the account, sign up for direct deposit and request a Visa debit card.

"Although our current ads address TD's current issues, Sun continuously works to attract new customers, grow our market share and seize every opportunity we can to help more people know what we can bring to the table," said Ed Malandro, Sun's executive vice president of consumer banking.

TD's woes began the weekend of Sept. 26, when it began integrating its computers and Web sites with Commerce's. But the unintended result was a delay in the posting of transactions. Last week was particularly frustrating for some customers whose paychecks were not electronically deposited into their accounts, just as bills came due.

Bank spokeswoman Rebecca Acevedo said customers' accounts were up to date as of Thursday, and the bank will continue to reverse any fees associated with the glitch. But whether the computer problems may return is still unclear.

Julie Ruth, an associate professor of marketing at Rutgers University in Camden, said it is a common tactic within many industries - especially one as competitive as banking - for adversaries to exploit one another's weaknesses. This time, TD is the one that is vulnerable, she said.

"The flip side is that TD and Commerce worked very hard to create a very positive brand impression," Ruth said. "Strong brands are the ones that are better able to withstand (attacks from competitors), and I think TD is able to. Many customers will remain with TD, and this will just be a blip for them."

TD customers such as Ebony Fountain, 22, of Galloway Township, are among those who are not taking their business elsewhere.

"Things happen sometimes, but you deal with it and move on," Fountain said.

E-mail Erik Ortiz:

EOrtiz@pressofac.com

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