TD Canadatrust

[Devils'Advocate]

I bank at TDCT as well.

I used to be a loyal BoM customer until they screwed me over. I had a BoM Mastercard, but found a Visa with a better rate. So I called Mastercard, ensured that my balance was zero and cancelled my card. Little over a year later I get a collection agency coming after me... apparently when I switched cards I had missed a deadline for moving an autobill to the new credit card. Rogers charged my bill to my Mastercard after I called to cancel it. Anyhow, my credit was absolutely destroyed - I couldn't get any new credit cards, I couldn't get a personal loan... I barely got my mortgage approved last year. All over a 2001 $98 cable bill.

I had called BoM and explained that I never once got a bill from them for the $98. I was told by BoM that "I probably got the bills and was tearing them up". I had them look up what they had for my address and they had the wrong address!! They had been sending my bill to a different apartment in my complex and the person from that apartment had been putting "return to sender" on the bills. BoM said "You probably had the address changed to the wrong address so that you wouldn't get the bill." At the time I was making $70,000/year. I wouldn't have screwed my credit over a mere $98!! But they would have none of it....

The *ONLY* *ONLY* *ONLY* thing that I don't like about TD is that their online banking site only allows 8 characters for a password. Too easy to hack.

[HPLovecraft]

Originally Posted by Slava

I have a couple of accounts, including one at TD. My most hated institution is CIBC. I wrote a letter to the CEO about 12 years ago pointing out that they will never receive a dime from me, including but not limited to my getting a mortgage from them. I believe that my letter was to the effect that I would rather live on the street than pay them a single cent.

Yes! God damn, sh**, c****, I HATE them. No emoticon exists to express my frustration with these quacks.

They were my first bank as a teenager, and they treated me like a second-rate bag of s***. I had been on a quest for a credit card for ages, lived on my own, worked full-time, paid my bills on time, etc, but they refused to give me one. They repeatedly quoted my lack of any decent credit (I didn't have bad credit, just very minimal credit). They would routinely hold my work cheque's for over a WEEK. This was at the same branch I regularly went to in downtown PEI. Their customer service blew, etc, etc. This was even after I had been with them for over two years. Nothing changed. I went in to discuss it with them, and the best they could tell me was to give them 500 bucks for a pre-paid credit card. Yeah, I was young, but I had been loyal, never had trouble with my account, and all my friends from different banks seemed to be getting what they wanted with less life experience than me. These are only some of my bigger frustrations, but I've had many, many, with the tellers and just the service in general.

After much advice and frustration, I decided to leave and go to TD. I sat down with a guy who was the nicest banker I've met, he set me up with n account, cheques, and a credit card right there and then. Ever since then they've been great. My only issue is I've had a lot of occurences of fraud on my bank card, but this may just be due to my use of shady ATMs here in downtown Toronto. There has never been a problem getting a new card, though.

My most recent example of that was a mysterious $1200 being deposited into my account and a hold being put onto my account until I could go in and get a new card. Strange.

[Antithesis]

I've been with Canada Trust since I was a very young man; I had a savings account with the transactions listed on the old-school grey and orange books.

I have everything through them and while I am sure I am a pretty low-maintenance customer (go to speak to a teller maybe 2 times a year), they have been good to me, never causing me any issues, so I am happy to stay with them.

[Eric Vail]

I have done lots of banking with TD and am very happy with them. My wife used to bank with the BMO, but when she married me and her name changed, she went in three times to have the name changed on the account. Each time it was a big hassle, but she stayed and went through it all. Each time they failed. A few days after the third failure, customer service called and asked how they were doing. My wife told them. They asked if we'd like someone to call to correct the problem. She said yes. No call ever came, and we closed the account and found another bank because that seemed easier then changing her name at the BMO.

[jtfrogger]

Wow. Although my experience with TDCT has been great, I am really surprised at all of the positive comments in this thread. I figured that every bank would have horrible customer service stories and every bank would have a few people that love them. I wonder why the service at TDCT is better than the others.

[MrMastodonFarm]

Been with Scotia for a while, left then to move to TD once, and after having two major security issues with TD, went back with Scotia.

[Flash]

I bank with CIBC and have never had a problem with them. My very first bank account was with BMO as a teenager...I would put birthday money in...bank fees started coming out of my account and one day I got a letter saying that I owed them money because their fees had put me into an unauthorized overdraft. I closed my account shortly after that and moved to CIBC and have been there ever since.

I had a couple of problems right in the beginning...being young and having no credit they would hold my pay cheques, until I went into the bank and asked them to stop. I was working for a big, well known company and I thought it was quite obvious that my paycheques weren't going to bounce. They stopped holding my cheques, and I still have no holds on my account, even with deposits through the ATM. I had a hard time getting a credit card due to no credit, but after repeated meetings with my banker, I was given one. I have a great personal banker who has bent over backwards (I feel) to help me, especially when I would email her from overseas. I know a lot of people haven't had good experiences with them, but I can't see myself ever banking anywhere else.

[@theCBE]

I used to do all my banking with CIBC and actually found them to be really great. They were always helpful and when my credit was kind of brutal due to some miscommunications with my student loans they wrote a letter to Visa on my behalf asking them to approve me for a credit card saying that I had been a good customer and all that. However when I went out of the country for school they would not give me a line of credit. Apparently the student LOC are only for Canadian schools, pretty short sighted if you aske me.

RBC gave me a LOC and so now I do most of my substantial banking with them. So far they have been great. I still have an account with CIBC and my investing account and RRSP are still managed through those accounts.

If anyone thinks Canadian banks are bad try dealing with the Royal Bank of Scotland... I had more problems with them in one week than I have ever had with CIBC or RBC.

[Bertuzzied]

You can tell how good a bank is by their commericals... breakfast nook, stupid wife writing messages to her banker!

I've worked for both banks and Scotia by far, is the worst bank in Canada. TD although not perfect is where I will banking for a long time. Just the number and branches and their hours of operation is enough of an advantage to switch.

[Devils'Advocate]

When I said that the only thing that I didn't like about TDCT was their security, I forgot one thing...

For a time I was banking with CIBC. I had a $1,500 line of credit. Any overdraft on my chequing account went directly on the LOC. So if I had $300 in my account and wrote a cheque for $500 knowing that my paycheque would be deposited tomorrow, I didn't have to worry about the cheque bouncing if the person cashed it today. The $200 difference would go onto the LOC automatically and then when the paycheque arrived, it would automatically pay off the LOC. Fantastic. However, at TD I have been told twice that this is impossible and I have to pay $36 per year for a $1,000 overdraft protection.

I'm talking to someone again tomorrow. I can't see why something so easy and convenient at CIBC is impossible for TD.

[Flash]

Originally Posted by @theCBE

...If anyone thinks Canadian banks are bad try dealing with the Royal Bank of Scotland... I had more problems with them in one week than I have ever had with CIBC or RBC.

I've never dealt RBS, but Halifax and Lloyds are (in my experience) hands down the worst banks to deal with in the UK. No matter how crappy someone thinks CIBC or Scotiabank is here, Halifax and Lloyds are even worse.

I have a UK account with Barclays and haven't had a problem with them, even now that I'm back in Canada.

[Two Fivenagame]

I’ve been working with TD for quite some time now. Started as a teller and now I’m a Financial Advisor. I specialize in just about everything. Small business banking, helocs and mortgages, credit in general and investing. I’m currently looking to become a Financial Planner which is someone who deals with investment planning exclusively….I just like investing a lot more than credit

Good to see all the TD love. I’m not surprised however, the amount of time and money they (TD head office) spend on harping about customer service is almost sickening TBQH. (TPS reports home to mind actually) so it seems it’s been having the intended effect.

Got Miikka? hit the nail on the head about the “creepy” notes. Consider it a necessary evil for your protection


Devils'Advocate – There is currently no system in place that will automatically transfer funds from a loc to cover an overdrawn account….this is why you will need to get Overdraft protection on an account. The reason (I’ve been told) is because of the amount of time and money required clear a chq and transfer the remaining balance from another account is too expensive and TD would rather provide it’s clients with Overdraft protection.
My advice to you – transfer money from your LOC into your chq account so you have a bit of an inflated balance because Overdraft interest rates will be much more expensive than your LOC….or just get chqs for your loc.

Hope that helps.

[SebC]

I'm with TD as well... made the switch from CIBC because their currency exchange "administration fee" on VISA transactions is ridiculous. With the right TD account and minimum balance you can even get cash out of the right ATM oversees for no charge whatsoever.

My one pet peeve with TD is that if you have a credit on your credit card, your available credit doesn't increase accordingly... the credit is only freed up as you pay things with your card. End result is you can't make any purchase with VISA larger than your credit limit, even if you have the money sitting in your chequing account. Furthermore, customer service told me that the credit would show up as "available" after a couple days hold... which is flat out wrong. I guess they don't encounter this situation often enough to know what I was talking about.

Where that really sucked when when I was doing my Olympic tickets application, because you have to have the money available for them to charge your card without notification at any time. Would've been nice to apply for lots of tickets, knowing that I probably wouldn't get most of them and even if I did and decided I couldn't afford them, I'd be able to easily re-sell them. Instead I had to cap my application at my credit limit.

[Canucks84]

Got Miikka has got it all down basically..
I also work at TD as a Financial Services Representative (personal banker) and used to be a teller before..
I would write things down sometimes simply if a customer has a number of requests (deposit, pay these bills, withdraw and etc.) so I can keep track without having to ask the customer over and over again. And like Miikka said, sometimes to ask my manager for an override on a deopsit/withdrawal limit with the relevant information that our manager requests to process the override. I used to do it all the time if I needed to grab US cash or process a cash advance on a visa.

Like Miikka, I am able to answer any banking related questions with TD, and if you want to see me about something, I can always set you up with an appointment in my downtown branch.

Thanks...WOW, I just advertised myself and TD

[HPLovecraft]

Originally Posted by Canucks84

Got Miikka has got it all down basically..
I also work at TD as a Financial Services Representative (personal banker) and used to be a teller before..
I would write things down sometimes simply if a customer has a number of requests (deposit, pay these bills, withdraw and etc.) so I can keep track without having to ask the customer over and over again. And like Miikka said, sometimes to ask my manager for an override on a deopsit/withdrawal limit with the relevant information that our manager requests to process the override. I used to do it all the time if I needed to grab US cash or process a cash advance on a visa.

Like Miikka, I am able to answer any banking related questions with TD, and if you want to see me about something, I can always set you up with an appointment in my downtown branch.

Thanks...WOW, I just advertised myself and TD

Out of curiosity, do you know anything about card fraud?

I'm just wondering, because I had a recent issue just before I flew home to PEI. I used my TD card at a grocery store and at an ATM just inside a mall that I frequent often just before I went to the airport. The next day on PEI, I check my balance, and it says there's an extra $1200 bucks in there. I call TD up and they tell me it's fraud and to get a new card.

It has all been taken care of, but I don't get what the criminal gains by giving $1200 bucks to me. Does he somehow deposit an empty envelope into my account and then try to withdraw the cash?

[Canucks84]

Originally Posted by HPLovecraft

Out of curiosity, do you know anything about card fraud?

I'm just wondering, because I had a recent issue just before I flew home to PEI. I used my TD card at a grocery store and at an ATM just inside a mall that I frequent often just before I went to the airport. The next day on PEI, I check my balance, and it says there's an extra $1200 bucks in there. I call TD up and they tell me it's fraud and to get a new card.

It has all been taken care of, but I don't get what the criminal gains by giving $1200 bucks to me. Does he somehow deposit an empty envelope into my account and then try to withdraw the cash?

Yeah, that could be the case. Envelopes aren't checked until that night or the next business day and it does depend on how much is available to you if you do a Green Machine deposit and how much will be held.
We usually don't know what actually happened on your card unless it was customer impersonation or such, then we are notified so we can perform a better security check when the customer comes to the branch.

[Deegee]

I work for a Credit Union as a Loan Officer and I can say from attempting to solicit business from people who are not members yet that TD and BMO must be doing something right because they are more difficult to solicit business from then the other guys.

It seems relatively easy to solicit business from Scotia and CIBC.

[Slava]

Originally Posted by jtfrogger

Wow. Although my experience with TDCT has been great, I am really surprised at all of the positive comments in this thread. I figured that every bank would have horrible customer service stories and every bank would have a few people that love them. I wonder why the service at TDCT is better than the others.

I think that TD seems better, and the hours and convenience are without a doubt better (if you ever go into a branch!).

That being said though, every bank has its horror stories. I talk to people about their money all day and I've heard enough/seen enough to realise that no one bank is perfect!

[Julio]

Another one for the TDCT love. Went from a small town CU, then CIBC when I moved around, then chucked them and went to CT...was worried when TD took over, but pretty good customer service (although the financial advisers @ my branch are pretty meh), good hours and a good net platform. They have all my business except for some high interest stuff.